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There’s a dirty little secret going on within the online poker world that folks don’t 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.
Lots of people are unaware that whenever you play online poker the poker room takes a small fee out of each pot. According to their rate structure it could possibly be 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 can get a sizable portion of that money back!
Online poker is a massively profitable business. Top poker sites turn over ranging from $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 specific poker site.
But the webmasters are not stupid. They know that the people they’re 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 several cases the webmasters will be earning 35% or more of the fees/rake you generate playing on the poker site. And not simply for a month or perhaps a year but for as long as you’re a customer!
But then the leading players – those who generate sometimes tens of thousands of dollars in rake each month (yes, you can find people paying $30,000+ per month in rake every month) – started to wonder why these webmasters were making all of this money in the event the player was the one actually generating the rake.
The greedy webmasters didn’t want to quit any of their cut and so they threatened the poker rooms to keep quite about how much money they were making. But the smart players already knew. And many of them decided to generate a brand new system.
What they said was, “Hey, I will be a webmaster too. And should the poker room is paying me 35% I will give 33% back to my players and keep only 2% for providing the service.” Now, if you do the math, the very best level guys generating $30,000 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 some other perks the site might have offered them for being such a great customer.
Now the majority of people are reading this and feel that there is no way they may generate $30,000 a month so it’s only profitable for the big guys. Actually, anyone can sign up at these sites. No matter how big or small a player they are.
And one doesn’t need to play at Phil Ivey nosebleed stakes to be able to make a respectable income from playing poker. By way of example, if you play $1/$2 NL poker and can also play four tables at a time (which is extremely doable with some practice) and play 42 hours every week, you might make approximately seventy six thousand dollars a year just on rakeback. Even if you never won a penny at the tables you would be getting about $76,000 annually back.
That is not just a bad living for most people. And if you play higher stakes, more hours, more tables, or actually win money playing quality poker then your annual take gets even larger.
Imagine no boss, no commute to the office, no grinding away for some employer that will sack you the next sales drop. You’ve got the freedom to work whenever you want and around you want.
But if you had to do it just on your winnings alone you might never get there. You would have to play either extremely high stakes or for numerous hours that many people would burn out. All as a result of rakeback, being a professional poker player is within the reach of nearly everybody.
