Imagine spending money on things you like and getting the money you spent in return. The more you spend, the more you get back! If you’re new to online casino gaming, then this is something you shouldn’t miss. Experts will tell you to learn more about Rakeback and its benefits before you start making bets.
Here’s a detailed article on what it is, how to make the most of it, and how to claim it.
What is Rakeback?
Rakeback is simply the poker equivalent of a rebate program that reimburses fees collected from players by poker rooms during a game. Before you get it, you must pay the rake. The rake is the set commission fee charged by a cardroom when a poker game is being played. In most cases, it is 2.5 percent to 10% of the pot in each poker hand, up to a prearranged maximum. A casino can also collect the rake in non-percentage methods. This fee is the primary revenue generator because poker is a player-versus-player game in which the house does not wager against its players. It covers the various costs of operation in online poker, such as support, software, and personnel.
A portion of your rake is returned to you through Rakeback. For example, suppose an online poker room offers a promotion in which they will refund 40% of your rake paid over the course of a week every Wednesday.
Origin of Rakeback
This rebate program began as an online publicity tool in 2004, but it was not commonly used until 2007 when the poker boom was at its peak and rooms began contending fiercely for new participants. Rakeback or similar promotional gimmicks are now important influences for players when deciding which Bitcoin poker room to join.
Different Rakeback Types
Poker, Casino, and Crypto Rakebacks are essentially the same. If you play poker or any games in online casinos, you get your Rakeback based on how much rake you paid. The only difference is where you decide to play. You get offered different rates in every online casino available on the internet. The only thing you have to do is consider which one has the best offer.
Rakeback vs. Cashback
Rakeback is sometimes referred to as cashback, but this is incorrect. There is a distinction to be made between these two. Cashback is simply converting player points into cash rewards based on their VIP status. On the other hand, Rakeback is often a set and preset amount, such as 30%, that all players receive regardless of their VIP status. Therefore most players prefer rewards with rake. Cashback requires you to start at the bottom of the totem pole and work your way up at unfavourable rates. Rakeback is especially beneficial for beginners, recreational, and intermediate poker players.
A cashback bonus is a means for players to recoup a small percentage of their losses as a token of the casino's goodwill. The percentage usually ranges from 10 to 20% and varies from casino to casino, and there is usually a maximum amount that you can claim back.
How to Calculate Your Rakeback
The sum of Rakeback earned is determined by several aspects. Your percentage, gross rake generated, and poker format are the three most significant factors because they greatly influence the number of hands you play per hour.
To compute your Rakeback, let’s assume that it is 10% of what you wagered. You got lucky and won $50. You will get 10% from HE, which with RTP 98% would be S2. You now get $2 in addition to your 50$ win.
If you’re still confused, here’s a helpful calculator to help you: Rakeback Calculator.
How to Claim Your Rakeback
Claiming rakeback is different for every casino available on the internet. However, the general rule for many of them is that the portion of the rake that the poker room transfers back into your account on a regular basis depends on whether you want it deposited once a month, once a week, etc.
For example, in BC Games, rakeback information is updated every two minutes. It is, however, available for Claim every 30 minutes. By clicking on the Piggy Bank icon in the top menu bar of the site, you can view the details of your rake rewards based on your coins!
Rakeback at Bitsler
Bitsler is a cryptocurrency casino that launched in 2015. The platform includes a wide range of third-party games as well as those created in-house by the team. What’s interesting about Bitsler is its 35% rakeback offer, which is a good deal for anyone looking for more rewards in the casino space.
To earn Rakeback with Bitsler, simply bet on any of the games (excluding dice and sports). The percentages increase as you level up. For example, if you have a rate of 24%, there’s a weekly boost of 2%, and bet 200 BTC on a game with a 2% house edge. Rakeback will be calculated as 200 * 0.02 * 0.26 = 1.04 BTC.