Everything to know about 'Raking in the cash'
There are many terms in online poker that sound very complicated but have very simple meanings. One such term is a rake. It’s one of the most common benefits given out by poker sites. Let’s have a look at what a rake is and how its beneficial...
What is rake?
A rake is the percentage of each pot or tournament entry controlled by the online poker site. It’s based on multiple factors like the choice of cash or coins, type of game etc. It can be termed as a basic commission that the poker site might charge you to host the game.
How does it work?
It’s based on the mode of payment, if its cash based payment then the rake can be a bit bigger than when played with chips. It can be charged before the flop is revealed or after the flop goes down.
How much does it cost?
Usually the charge of rake can range between 3-4% of the pot value. This is based on the dealer of the game.
For poker tournaments, Rake is the price you pay to enter the tournament.
The price of the same can be determined by the site itself. Usually a lot of poker sites charge a huge amount of rake charges, causing heavy losses to the gamer. There are many companies which give an option to win back the rake charges based on the winnings of the company.
What is a Rakeback ?
A rake back is essentially the amount of money that the poker site might return to its players. The same can be done on a monthly or weekly basis. This method is used to lure more players into sticking through the end of the week or month in order to re-claim a part of the rake money.
It works on a very simple funda. A site might promise the players a certain percentage of returns at the end of a week or month. For eg. If a site promises a 20% rake back to its players and a player’s rake amount comes up to about $100, he can get $20 as a rake back.
Types of Rake backs
There are multiple types of rake backs that are offered by poker sites lets take a look at a few of them:-
- Player rewards
These are awarded to a select few players who join in on the site regularly. This is a great use of rake to increase daily audience usage for a particular site. The players can get player points to use in further matches.
- VIP programmes
Many companies also initiate VIP programmes where users can subscribe to the same for a fixed amount of fees and reap the benefits of the rake back.
- Cash back
Many players also get the option of a cashback offer. The only difference is that the points can be exchanged for actual cash benefits.
- Signup bonus
Poker site may also pay out rake back as a bonus to new joinees of the site. They can use it in the poker game to play as chips.
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