The importance of rakeback for poker novices
Tuesday, August 3rd, 2010If you have never heard of rakeback before or what it does or how important it is then you need to pay serious attention to this article. All online poker sites charge rake on a per hand basis that is taken from the pot in increments as the pot builds up to a maximum. This fee goes to the site operator and is lost forever. So what this means is that the player is being charged a fee for playing poker. This is all acceptable of course as the poker site is not in business to lose money and they have to make it from somewhere.
But as a novice player then you have two obstacles, you firstly have to overcome the problem of better players but also the obstacle of the site extracting money from the pots that you win. In order to make money from poker long term then you need to start treating it almost as a business. By that I mean you need to be very cognisant of the fact that you are being charged to play and you need to reduce your overheads by as much as possible.
If you can do this then not only will this save you a large amount of money over the space of a year but it will also provide you with a safety cushion of income that could be the difference between you being successful or not. Getting “rakeback” and sign up bonuses from poker sites is very important for novice players more so than professionals. As novice players then you simply need every available financial help that you can place your hands on.
Let us say that you play 20 hours a week at low stakes and generate $100 a week in rake for the casino. This is $100 that you would have made extra in the pots that you won if these pots were played without rake. But let us say that you could avail yourself of a 30% rakeback deal which means that you get $30 a week paid back into your account. This would equate to about $120/month in extra money.
Now let us take this a stage further and say that this player lost $120 each month and decided to stop playing after six months because he was fed up of losing money. The rakebake deal would have totally offset his losses and allowed him to break even. He would have been far happier after six months breaking even than having lost $720. He could have continued on playing and learning and then reached a stage where he was good enough to start winning money.
So in this instance the presence of the rakeback scheme not only allowed him to stay in the game but it also allowed him to see the future where he was good enough to be making money and could then make poker a second income stream. This is a key and often underrated aspect of getting rakeback.