The words “rake” and “rakeback” have become common in online poker circles in the recent past. However, many players still don’t know exactly what they mean, and most don’t know the benefits that lie within.
This article will simplify the meaning of both terms and reveal a new way of getting something back from your favorite online poker platform.
What Does Rake Mean?
You first have to understand how online poker sites (see scoreqq.org) make money to understand what rake means. Poker players playing for money are required to deposit a certain amount to bet on. Whether it is a tournament or cash game, the platform deducts a certain amount from each player or from the pot.
However, different sites have different forms of taking in their rake:
- Percentage Rake
In this model, the house sets a pre-determined amount that has to be deposited into the pot and then deducts a small percentage of the overall amount. Many houses set their percentage rates between 5% and 10%. Every player in the game contributes to this percentage, so the money deducted from each player is not significant – in fact, most players do not note the cuts.
It is important to note that percentage rakes may not apply to a game in certain scenarios – for instance, if the amount raised does not meet the threshold or in case all players withdraw.
- Tournament Rake
Every player is required to pay a fee in order to enter a tournament. In this model, the house deducts a certain amount of money from each entry fee. The house will usually highlight both the entry fee and the rake together. For instance, if the site indicates the entry fee as $100, 10, then the amount deductible as rake is $10.
Again, the rake varies from house to house and depends on the amount paid as entry fee.
- Time-Based Rake
Time-based rake model depends entirely on the period poker players take to finish the game. Houses set the time intervals depending on the amount being played for – most houses have time intervals ranging from 30 minutes to 1 hour. The amount charged as rake also varies, but it is significantly higher than the two prior models.
However, it is important to note that time-based rake models apply mostly for high-stakes online poker games.
What is Rakeback?
Now that you understand what rake means, consider rakeback as a way for poker players to get something out of the house. For instance, if the house charges a rake of 5% of the money played, then players may be eligible to about 30% of that amount. It may seem little, but it eventually adds up considering the online poker platforms can collect millions from their rakes. Players qualify for rakeback when they recruit new players to the platform or show dedication in playing.
However, it is important to note that only ardent online poker players get a significant share of the rakeback amount. In fact, certain houses report that some players pocket as much as $30,000 per year in rakeback amounts.