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There’s a dirty little secret going on within the online poker world that people don’t want you to know about. Nearly every professional player knows about this secret and they have found a way to profit from it. So can you.
Many 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 may very well be just as much as 5% of the pot value. That fee is called “the rake.”
But that is not the big secret. The big secret is the fact that you can get a large number of that money back!
quality online poker gambling 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 aren’t stupid. They realize that individuals they can be sending to the poker room might generate hundreds or thousands of dollars in fees or rake and they have 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 only for a month or possibly a year but for as long as you’re a customer!
But then the leading players – folks that generate sometimes tens of thousands of dollars in rake each month (yes, you’ll find people paying $30,000+ per 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 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. Though the smart players already knew. And lots of of them decided to generate a brand new system.
What they said was, “Hey, I’ll be a webmaster too. And if the poker room is paying me 35% I’ll give 33% back to my players and keep only 2% for providing the service.” Quite simply, 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 getting a windfall $9,900 a month back! That’s 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 a good customer.
Now most of the people are reading this and believe that there is no way they can generate $30,000 a month so it’s only profitable for the big guys. In all reality, anyone can sign up at these sites. However big or small a player they may be.
And one will not need to play at Phil Ivey nosebleed stakes as a way to make a respectable income from playing poker. As an example, if you play $1/$2 NL poker and can also play four tables at a time (which is quite doable with some practice) and play 42 hours a week, you might make approximately seventy six thousand dollars each year just on rakeback. Even if you never won a penny at the tables you would be getting about seventy six thousand dollars each year back.
That is 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 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 could never get there. You could have to play either very high stakes or for numerous hours that most of the people would burn out. All due to rakeback, being a professional poker player is within the reach of nearly everybody.