ThePro19 Posted March 18, 2006 Share Posted March 18, 2006 Can someone please explain to me what is rakeback and how does it work. Here is what I think, let me know if I am way off the mark. Everyone who plays cash tables adds to the rake in each hand they play, about 5-10%??? If they are offering you 25% rakeback, this means that you get back 25% of the rake you have added. So, if you receive $1000 in rakeback in a month, this means you must have added $4000 to the rake. And lets assume the rake is 10%, this means that you have wagered $40,000 in that month. At 5% rake it would be $80,000 wagered. Are my assumptions correct? Quote Link to comment Share on other sites More sharing options...
ThePro19 Posted March 18, 2006 Author Share Posted March 18, 2006 Re: Rakeback query Does anyone know???? :unsure Quote Link to comment Share on other sites More sharing options...
Hedonist Posted March 18, 2006 Share Posted March 18, 2006 Re: Rakeback query I'm suprised that no experts have answered however I think you are correct, this is my understanding of it: Rake is usually 5% up to a maximum of $5 per hand, so if 2 players each bet $50 before the flop the pot would be $100 and the rake $5, anything bet after would not be raked as the maximum has been reached. A $1000 rakeback would you had paid a rake of $4000, the amount bet would be at least $80000 but probably a lot more.. Quote Link to comment Share on other sites More sharing options...
slick mick Posted March 18, 2006 Share Posted March 18, 2006 Re: Rakeback query The rakeback usually applies to tourney fees as well so if you enetr a 5 plus .50 your rake is the .50 Quote Link to comment Share on other sites More sharing options...
slick mick Posted March 18, 2006 Share Posted March 18, 2006 Re: Rakeback query btw I'm impressed if you're getting $1000 a month in rakeback Quote Link to comment Share on other sites More sharing options...
ThePro19 Posted March 18, 2006 Author Share Posted March 18, 2006 Re: Rakeback query This was my thought exactly. The reason I asked the question was because the ______ who gate-crashed our private PL game last night (chrisgoatsin) kept saying how he was getting $1000 rakeback each month. Further, he was a student and his mother was telling him he should get a part-time job. Now, absolutely nothing ties in here. In my opinion it was all lies, and I would even go as far as saying that he and deadlydave were working something. DD said he never had time to set up another game because he was in the middle of a game on betfair, but for the whole duration of the PL game neither of them stopped talking... I mean typing, which takes x times as long! Quote Link to comment Share on other sites More sharing options...
slick mick Posted March 18, 2006 Share Posted March 18, 2006 Re: Rakeback query Sounds like BS to me if he's making that much in rakeback why would he be gatecrashing a PL private game? Definite wind up. Quote Link to comment Share on other sites More sharing options...
Pokerose Posted March 18, 2006 Share Posted March 18, 2006 Re: Rakeback query This was my thought exactly. The reason I asked the question was because the ______ who gate-crashed our private PL game last night (chrisgoatsin) kept saying how he was getting $1000 rakeback each month. Further' date=' he was a student and his mother was telling him he should get a part-time job. Now, absolutely nothing ties in here. In my opinion it was all lies, and I would even go as far as saying that he and deadlydave were working something. DD said he never had time to set up another game because he was in the middle of a game on betfair, but for the whole duration of the PL game neither of them stopped talking... I mean typing, which takes x times as long![/quote'] I wasn't at that game, Pro, so I can't comment on the specifics. What I know is this. Firstly, People often talk a lot of crap when discussing their poker exploits so let it go over your head. Secondly, fuggedabahtit. One game, one obnoxious idiot( i think he realises he won't be welcome back, btw). If you've spent this time considering what they've been up to, whether they've been telling the truth - thats time you've wasted because they just don't matter. Now, take a chill pill and go and win you some poker. Quote Link to comment Share on other sites More sharing options...
ThePro19 Posted March 18, 2006 Author Share Posted March 18, 2006 Re: Rakeback query Sounds like BS to me if he's making that much in rakeback why would he be gatecrashing a PL private game? Definite wind up. It was more than a wind-up, I would go as far as to say they were.... :ok Quote Link to comment Share on other sites More sharing options...
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