Many are already wondering if the current trend will have legs and what it means for the poker community. However, if you are starting, we explain one of the key concepts when it comes to playing the world’s favorite card game on the internet. Not only that, sites such as GGPoker are thriving.
Read to learn what Rakeback is, why it exists, and what pitfalls to avoid.
What Is Rakeback and How It Works
The simplest definition is that it is the percentage of the rake that poker rooms return to their players. The rake itself exists so that those operating the site can turn a profit. When you’re playing poker, unlike casino games, you are playing against other players and not the house. Thus, the operator makes money by taking a percentage of the funds in each pot. The amount may differ from site to site, but it usually falls somewhere between 5% to 10%.
It is a promotion that platforms offer to entice players to join or as a method of rewarding those than have displayed loyalty. Though some sites may provide such a deal right away, most likely, it will be a feature of a loyalty scheme or VIP program.
Why Doesn’t Every Site Have It?
Seeing as this is one of many promotional tools that gambling sites use to incentivize players to join or stay, one may deem it as unfit for its targeted demographic. For example, a platform may opt to provide a rewards program that has better benefits than those attainable through Rakeback. Thus, if you are a newbie, you shouldn’t write off a site because it does not feature it.
According to experts, sign-up bonuses are the best way to hook potential players. These offers are commonplace in the industry, a monetary reward given out upon registration. Usually, matching your first deposit by a specific percentage. However, you will have to clear this bonus first. Meaning, you will have to play a certain number of hands with your funds before accessing the ones promised on sign-up.
Never force yourself to play somewhere just because there’s a Rakeback deal on the table. Pun intended. It is just a bonus, and it shouldn’t be a deciding factor in choosing a platform. Also, do not play at too many tables and too many hands to build up Rakeback. It should be a byproduct of your poker activity, as you shouldn’t work towards attaining it.
Do not think that Rakeback is exclusive to mid to high-stakes games. Even if you are a micro-stake player, you should take advantage of such an offer if it’s on hand. Nevertheless, remember that if your skill level is decent, you should win money without it.