Bitcoin Rakeback is promotion that poker rooms can give to their players, to reward their loyalty and give the players a part of the Bitcoins they pay as a fee for playing poker back.
Rakeback started as a promotional tool in 2004, but was not a widely used promotion until 2007 where the poker boom was at its highest and rooms started competing hard for acquiring new players. Today Rakeback or similar promotional schemes is an important feature when players choose which Bitcoin poker room they want to play in.
All online poker players pay rake to the house as a fee for using their service. Since players are not playing against the house, the poker sites have to charge this fee to make money on their players. Online poker sites charges between 1-5% rake on their games, depending on where you play. The common Bitcoin poker rake percentage has been 1-2% since the start, but is starting to get higher on some of the newer sites that are starting up.
Many players pay a lot of Bitcoins in rake without being aware of it, so getting a fixed percentage of that amount back can be a great way of increasing your bankroll as well as having the possibility to take even more Bitcoins out of your account to have fun with.
Players who is on a Rakeback loyalty scheme, will receive payments no matter if they are winning or losing as it all comes down to the revenue they create and nothing else. Players are usually rewarded between 20-50% rakeback on their play, some sites offers less, some sites offers more. This makes it one of the best poker promotions available for players thus its popularity.
How can I get Rakeback and are there any rules?
You are able to get rakeback on most sites that offers the promotion. Usually there are no requirements for players to receive rakeback payments from the sites, but in some cases players have to opt-in to receive it. This can be done by contacting the site and ask for rakeback or directly on the site if they have a opt-in for rakeback option. If a site does not offer rakeback to its players, they might offer something similar instead, such as a VIP program or loyalty scheme. Usually a simple google search will let you know if a site offers rakeback to its players or not.
Sites pay rakeback on all rake paid in tournament fees, sit 'n' go fees and cash game rake. This means that no matter what kind of game you like to play, you will always receive part of the fee back, which can amount to a decent amount of money on a monthly basis.
Some sites has rules regarding rakeback for their players. Some sites will not pay any rakeback to players unless they rake a certain amount, but in most cases rakeback is paid no matter how much rake a player pays. Another rule that some sites also have is that players cannot receive rakeback while they are playing out a bonus. This usually depends on how big a return of the rake the bonus provides, as many sites and networks has a maximum percentage that players can get in return of their rake. When you sign up for on a site for rakeback, all rules regarding rakeback will be shown if there are any.
Your rakeback is paid either directly to your poker account or in the casino/sports betting wallet, depending on which site you play on. You will typically receive rakeback payments from the site once a month, but in some cases the sites pay rakeback daily, weekly or every second week, it all depends on how the site decides to do it.
How is Rakeback earned and calculated?
When you start to play online poker on a site that offers Rakeback to its players, you will automatically pay rake and thus earn Rakeback when you play hands on the site. Poker sites have different ways of calculating rakeback, depending on the way they have chosen to allocate rake among players.
The most used method to calculate rake and rakeback is by using the contributed method. As the name states, the contributed method you will get rakeback out of the rake you have contributed to the pot in each hand. This means that if you do not see a flop in a hand and thus not pay any rake, you will not get any rakeback for that particular hand. If you play a hand and pay a total of 0.5 chips in rake, you will get rakeback of the 0.5 chips that you paid. So if you have 30% rakeback on the site where you just paid 0.5 chips in rake, you have earned 0.15 chips in rakeback in that hand alone. The contributed method rewards the players that plays many hands, which is what the poker sites want. This method is seen as the most fair method by many players and is also the reason why most sites have decided to go with this method.
The other way of calculating rake and rakeback is the dealt method. In the dealt rake allocation system, all players that are dealt cards in a hand will get a part of the rake that is being paid in the hand. This means that if you play a hand on a table with six other players and only two players see the flop and ends up paying 1 chip in rake, the 1 chip in rake is distributed among all six players. That means that all players will be noted in the system as having paid 0.16 chips and they will get rakeback of this amount. This system has been very popular among grinders and players that do not play a lot of hands as it rewards them even though they don't contribute to the pot. Playing on sites that offers the dealt method can be a good way to increase your rakeback payments if you are a tight player, but is not a fair way of calculating rakeback for players that pays more rake than others, as they will get a much lower rakeback payment than they would in the contributed method.
Can I get other promotions with Rakeback?
It all depends on the site if you can participate in other promotions while being on the rakeback promotion. Many sites offers players a great welcoming package with a flat rakeback percentage, first deposit bonus and in some cases a rake race or rake chase on top. Other sites only offers players rakeback and nothing else. When you join a poker site, you can ask to the support what kind of promotions they offer on the side of rakeback to be sure that your rakeback payments will not be deducted from using a bonus for example.
Should rakeback be the only promotion you can participate in if chosen, you need to look if you will get more out of choosing not to have rakeback, rather than having it.