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There’s a dirty little secret going on within the online poker world that folks do not want you to know about. Nearly every professional player knows about this secret and they’ve found a way to benefit from it. So can you.
Lots of people are unaware that any time you play online poker the poker room takes a small fee out of each pot. According to their rate structure it could 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 large percentage of that money back!
quality online poker gambling poker is a massively profitable business. Top poker sites turn over around $1 million – $3 million a day. Their biggest cost is acquiring new customers. One of the ways they get new customers is to pay webmasters to put ad banners and links on their own sites to entice you to play on that specific poker site.
Though the webmasters aren’t stupid. They realize that the 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 many cases the webmasters will be earning 35% or maybe more of the fees/rake you generate playing on the poker site. And not just for a month or perhaps a year but for as long as you are a customer!
But then the leading players – folks that generate sometimes tens of thousands of dollars in rake each month (yes, you can find people paying $30,000+ per 30 days 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 give up any of their cut and so they threatened the poker rooms to keep quite about how much money they were making. Though the smart players already knew. And lots of of them decided to produce a brand new system.
What they said was, “Hey, I’ll become a webmaster too. And should the poker room is paying me 35% I’ll give 33% back to my players and keep only 2% for providing the service.” Essentially, in the event that you do the math, the top 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 plenty of people are reading this and think that there is no way they can generate thirty thousand dollars a month so it’s only profitable for the big guys. Actually, anybody can sign up at these sites. No matter how big or small a player they may be.
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 can play four tables at a time (which is very doable with some practice) and play 42 hours every week, you can make approximately $76,000 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 just a bad living for some people. And if you play higher stakes, more hours, more tables, or actually win money playing poker then your once-a-year 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 around 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 extremely high stakes or for a lot of hours that lots of people would burn out. All thanks to rakeback, being a professional poker player is within the reach of nearly everyone.