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There’s a dirty little secret going on in the online poker world that people do not want you to know about. Almost every professional player knows about this secret and they have found a way to benefit from it. So can you.
Many people are unaware that any time you play great online poker poker the poker room takes a small fee out of each pot. Based on their rate structure it could possibly be just as much as 5% of the pot value. That fee is called “the rake.”
But that’s not the big secret. The big secret is the fact that you may get a sizable percentage of that money back!
Online poker is a massively profitable business. Top poker sites turn over anywhere between $1 million – $3 million a day. Their biggest cost is acquiring new customers. Among the ways they get new customers is to pay webmasters to put ad banners and links on their sites to entice you to play on that particular poker site.
Although the webmasters are not stupid. They know that people they may be sending to the poker room might generate hundreds or thousands of dollars in fees or rake and they’ve shrewdly negotiated profit sharing deals with the poker sites. In lots of cases the webmasters are earning 35% or even more of the fees/rake you generate playing on the poker site. And not just for a month or possibly a year but for as long as you’re a customer!
But then the leading players – people that generate sometimes tens of thousands of dollars in rake each month (yes, you can find people paying $30,000+ every month in rake every month) – started to wonder why these webmasters were making all of this money when the player was the one actually generating the rake.
The greedy webmasters did not want to quit any of their cut and so they threatened the poker rooms to keep quite about the amount of money they were making. Though the smart players already knew. And many of them decided to create a brand new system.
What they said was, “Hey, I’ll be a webmaster too. And in the event the poker room is paying me 35% I will give 33% back to my players and keep only 2% for providing the service.” Basically, in the event that you do the math, the very best level guys generating thirty thousand dollars a month in rake all of a sudden were obtaining a windfall $9,900 a month back! That is over and above anything they might have won at the table, bonuses the site may have offered, or any other perks the site might have offered them for being such the best customer.
Now plenty of people are reading this and feel that there is no way also they can generate thirty thousand dollars a month so it’s only profitable for the big guys. In reality, anybody can sign up at these sites. Regardless of how big or small a player they are.
And one does not need to play at Phil Ivey nosebleed stakes in order to make a respectable income from playing poker. For instance, if you play $1/$2 NL poker and will play four tables at a time (which can be very doable with some practice) and play 42 hours every week, you may make approximately seventy six thousand dollars over a year just on rakeback. Even when you never won a penny at the tables you could be getting about seventy six thousand dollars each year back.
That’s not really a bad living for some people. And if you play higher stakes, more hours, more tables, or actually win money playing poker then your total annual take gets even larger.
Imagine no boss, no commute to the office, no grinding away for some employer who will sack you the other sales drop. You have the freedom to work when you want and just as much as you want.
But if you had to do it just on your winnings alone you could never get there. You could have to play either very high stakes or for numerous hours that almost all people would burn out. All thanks to rakeback, being a professional poker player is in the reach of nearly everyone.
