What is "Rakeback Riches" all about?
First what is rakeback?
Or rather, the first question is, "what is rake?"
When you play poker on the Internet, the rake is the commission that the house takes. The way the rake is calculated depends on the value of the pot for each hand played. The higher the pot, the higher the rake.
On average at low or mid-stake, the rake is 5% of the pot. Every online poker site has a slightly different way to calculate the rake, but the average is around 5%.
The rake is capped with a maximum of $3 for each hand. So for the high stakes games where pots typically reach thousands of dollars, the rake is much less than 5%. And for the most part it is negligeable.
But if you are like most of us a mid or low stakes poker player, the rake is not negligeable, far from it. Not everyone is aware of that, but the rake represents a significant hole in your bankroll.
Not surprinsingly, the online poker and online casino businesses are very profitable. With such high fees with practically no risk, this is the road to immense wealth for the top poker rooms. So what is rakeback?
Rakeback is the poker room paying back a portion of the rake to the players in order to make them happy. Active online poker players are aware of the high rake which is impending their chances to be profitable. Rakeback is the answer.
So only the most informed players are aware of rakeback. Of course online poker sites do not want the word to get out. the majority of poker players do NOT get rakeback. This is reserved for the most savvy players.
Not every online poker room offers rakeback. For example pokerstars and bodog poker do not offer rakeback. But many rooms do, and good rakeback deals can be found at places such as Titan Poker and Powerpoker.
Rakebackriches.com is specialized in rakeback, so you will find here the most attractive deals available on the Web. Make sure to sign up for a rakeback deal before joining a new poker room, otherwise they will not let you get rakeback once you have signed up as a regular player.