The mechanism behind rakeback If you're an online poker player, you've probably heard about rakeback numerous times already. Not knowing what it is and how it's supposed to help them, many players just dismiss the whole concept and get on with their play, never realizing the enormous potential they give up.
If you're one of those guys, read on: you'll be glad you did. Every online poker room offers a sign up bonus, and every online poker players knows these bonuses well (evaluating them correctly is a different matter, and few people can actually do it, but that's a different story). Every first-deposit bonus needs to be unlocked, or if you get money upfront (like the 10% match Bodog offers) you need to turn it over a set number of times before you're allowed to cash out.
The bonuses are unlocked in a direct proportion with the rake the player generates (the rake is the percentage the poker room takes off each real money pot). The more rake you contribute, the more of your bonus is redeemed. This means that for as long as you play to unlock your bonus, you'll basically play with reduced rake, because the bonus that you get is a percentage of the rake you pay. This is where the value of a good bonus deal is: playing with reduced rake is a huge edge. The biggest problem with these first-deposit bonuses is that after a while they either expire, or you unlock them, and the rake reduction comes to an end. Most poker rooms will not give you a bonus on your subsequent deposits, so you basically lose rake reduction forever at the given poker room.
A rakeback deal is the equivalent of a never ending sign-up bonus. As long as you play real money poker at the room you signed up for, you'll be enjoying reduced rake. Some of these rakeback rooms even offer a sign-up bonus on top of the rakeback, so for a while you'll have double rake-reduction, after which you'll only have the normal 30-50%. Compare that to a simple non-rakeback deal and you'll immediately see what it's about.
What should you be on the lookout for when you search for a rakeback deal? First of all, the percentage offered. I'll have to advise caution on this one though, because even though the percentage you're offered matters a lot, it isn't everything. The rake collection method that the poker room uses is something few players ever pay any attention to upon sign-up. Depending on your playing style, the rakeback collection method can have a huge impact on your results when you draw the line at the end of the month.
The dealt rakeback method favors tight players. In rooms which use this method, everyone who's dealt in, will be allotted a percentage of the resulting rake. That means you'll be generating rake and thus earning rakeback even when you do not contribute any money to the pot.
The contributed rake method provides a more accurate measure of a player's rake performance. Those who do not shove money into the pot, receive no MGR, and thus, tight players cannot earn any rakeback on loose players' backs. Obviously, if you're a loose player, this is the rake collection method you should search for.
Some rakeback deals are out-of-this-world generous. Deals that offer over 100% rakeback are not fishy, but there are a few things you need to know about them: they come with certain restrictions. You won't be able to just frolic around the room and play at any table that catches your fancy, you'll have to play at designated tables, and you'll be subject to a set of special rules.
Such deals are called prop deals, and players who sign up for them are called prop players. Getting paid to play comes with a price, but for a good player, the trade-off can be more than advantageous. |
