|Tuesday 24th April 2018|
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Why you should consider rakeback
If you play poker, then you'll know that you have to pay rake, but did you know that you can reclaim some of it back? I've played online poker at small stakes for a number of years, and although I'd heard of rakeback, I never really bothered with it because I didn't think I played enough to make it worthwhile.
Well I couldn't have been more wrong! After discussing rakeback with a couple of guys on a forum, one of them pointed out that a refund was a refund no matter how big or small it was - it is free money! So I decided to sign up for a new poker room via raketherake and continued to play my usual amount of "leisure" games. At the end of my first month, I received a payment of £90 and was amazed that I had got THAT much.
Since then, I have started playing a lot more. Poker is a game based on long term edges and even the smallest of edges will make you a profit. Until I got a rakeback deal I was one of those players that "just about breaks even". In reality, I was slowly but surely LOSING money. If you have a rakeback deal, you do not need to be a winning player. Simply breaking even (or making a slight loss) will actually show a long term profit due to rakeback.
A lot of very average poker players have been able to turn professional because the internet allows them to play a high volume of games. Many of these players will have at least 4 tables open at once and play for several hours at a time. They won't be making a profit at the tables (in fact, they will often be making a small loss!), but the VOLUME of games means they turnover a significant amount of money - therefore paying a LOT of rake with a relatively small bankroll. You can get started with as little as £20!
The advice is obvious. If you like to play poker online, no matter how often, make sure that you're getting rakeback. It can make a BIG difference.
How to setup a rakeback deal
Setting up a rakeback deal is very easy. First of all, email your favourite poker site and ask them about rakeback. Some sites will give you rakeback without having to go through an affiliate. If your poker site refuses to offer you a deal, they play dumb and pretend they don't know what rakeback is, or they offer you less than 30%, it is time to look elsewhere or setup a new account. If you like your current poker site because it is full of little fishies, then you have two options: either carry on playing without rakeback or close your old account and use a different credit/debit card when you setup your new one.
The next step is to select a rakeback site. I use raketherake because their customer support is excellent and they have a lot of exclusive freerolls with big (usually around $5000) prize pools. Open a new account with the rakeback site and then carefully follow their instructions on how to setup your new poker account. The most important step is clearing your browser cookies before you navigate to the poker site. In fact, I recommend you do that NOW to avoid missing out on the rakeback deal. Once setup, rakeback payments are automatically credited to your account every month. Most rakeback deals will offer you 30%, although there are sometimes promotional deals offering considerably more.
How to make the most of your rakeback deal
This one is fairly obvious. The more you play, the more rakeback you will get. Sit N' Go tournaments usually have a higher rake than cash games, however you will pay a lot more rake per hour in cash games. Also, the structure of Sit N' Go tourneys means that you will often be forced to play much looser than you are comfortable with. So my advice is to adopt a tight/aggressive style and master the cash games. You can earn rakeback from just about any format of poker, however cash games are the most lucrative. Previous to getting a rakeback deal, I played nothing but Sit N' Go tourneys. I can honestly say that I am now much more profitable at cash games, although bank roll management (BRM) is VERY important and something you MUST learn to control.
You may find some of the following tutorials useful if you want to improve your poker skills:
Sky Poker Video Tutorials (video tutorials explaining basic strategies)
Professional Poker Tutorials (Massive archive of quality advice)
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