Getting paid to play poker sounds like something that’s too good to be true, but with rakeback, it’s possible! Whether you’re a high-volume player or like to play poker for fun, you can be rewarded for playing poker with real money. If you’re interested in finding out more about rakeback, how it works, and what offers you can find, take a look below.
What is Rakeback?
Whenever you play a hand of cash game poker or register for a tournament, a small percentage of that pot/tournament entry fee is taken by the casino as a charge for running the game. This is called the “rake”. Rakeback is a promotion offered by online poker rooms that refunds you a portion of the rake you pay when playing poker.
How Does Rakeback Work?
As the name suggests, a poker site with a rakeback program will periodically give back some of the rake they collect from you. The amount you play within a specific time frame determines the amount that you will get back. Therefore, the more volume you put in, the more you’re rewarded. The great thing about rakeback is that you don’t have to be pumping in tens of thousands of hands every week. Even if you play a small amount, you’ll still often get a little something back in your poker account at the end of each week/month.
Online Poker Rakeback Deals
Different sites like to give their rakeback to players in different ways. The one that’s best for players is a straight cashback deal. However, some poker networks like to give tournament tickets or casino bonuses as a form of rakeback.
Tournament tickets and bonuses for casino games are all well and good. But if you like a bit of a gamble, nothing beats cold hard cash. Each site offers different rakeback promotions, so double-check which one your poker site offers before you sign up.
Cash is king when looking for good online poker rakeback deals. This is why the best sites often offer their players the chance to earn cashback as part of their rakeback promotions. The most common form of cashback you’ll see is a VIP program, with a higher rakeback percentage given the more you play and the more rake paid. Online poker players love to put in volume. And if you play on sites with these programs, you can be rewarded for your hours of grinding.
Speaking of volume, another way online casino sites offer rakeback is through “rake races”. These events are usually held over a week. The aim is to rake as much as possible on the poker site to finish as high up on the leaderboard as you can. The higher you finish, the better your prize is, with some sites giving away thousands of dollars in prizes!
Why Is Rakeback Important?
Rakeback is important because the existence of rake makes it hard to profit in real money poker games.
Let’s look at an example where you were playing online cash games with a rake of 8BB/100 hands. If you beat the game at a rate of 6BB/100 hands, this meant you lost 2BB/100 hands to the rake. If you played 100,000 hands in a $0.05/$0.10 cash game, that would work out to $600 made from the poker game. However, you paid $800 in rake, which means a total loss of $200.
However, if you play on a site with a rakeback offer, you can get some extra money back. In the above example, if you got a 30% cashback offer from your online casino, you would receive $240. This would change your overall profit/loss from -$200 to +$40. You can see how rakeback could be the difference between being a losing or a profitable player.
Without rakeback, the poker ecosystem would have far fewer winning or break-even players. The best players and the poker sites would quickly suck up all the money, leaving lots of empty tables and empty wallets behind.
Here at Natural8, we understand the importance of these programs. This is why we offer a fantastic Fish Buffet Loyalty Program. The Fish Buffet program gives players the chance to earn up to 60% cashback every week! You can play any poker or casino game to earn Fish Points (FP). As you earn more FP, you can also climb the ranks, earning more cashback with each rank you climb. As soon as you’ve hit the number of FP you need to reach the next rank, you can spin a wheel to determine your cash prize.
For those who like to keep their gambling on the table, Natural8 also offers the Platinum Ranks reward tiers. These tiers pay anywhere from 20% to 60% fixed cash back at the end of each week, depending on your level. You’re automatically signed up to this program as soon as you join Natural8; no opt-in is necessary. So what are you waiting for? Get playing and start earning those Fish Points!