The Birth of Rakeback – The Online Poker Players Saviour
The Birth of Rakeback The Online Poker Players Saviour
Million dollar first place prizes, primetime spots on national TV and the glamorous lifestyle of poker players lead to a boom of poker in the early 2000's. The promotion of the World Series of Poker series by Harrods and the big win by Chris Moneymaker in 2003 World Series Of Poker main event along with the instruction of holecams on poker tables added to the explosion of interest in poker.
This in turn lead to the fruition of hundreds of on line poker rooms (some good, some bad) and their marketing ploys to attract and maintain a regular stream of customers to their site. This is one of the main reasons why rakeback exists, to keep poker players playing at their site.
The other reason was professional poker players did the maths and understood how much rake they were generating for the poker rooms. They wanted to get some of this rake back as a way of a reward for continuing to play on that particular site, or else they would move on to another site and poker rooms profit would be greatly affected. The Poker Rooms logically agreed as it's a win-win situation for both parties, the poker players with rakeback accounts continue to play more on the poker sites generating more rake for the poker site and the poker players now get rewarded for the time they spend playing on the site through rakeback.
In case you have never heard of rakeback, here is a brief explanation. We all know that poker sites make their profits by taking a small percentage of every pot played which is known as rake. The poker rooms then pay between 27% to 40% of this rake back to the player. You cannot sign up directly to a poker site and expect to receive rakeback but must sign up through a rakeback provider. They use the power of their membership base to get the best rakeback deals available from the poker sites.