EVERYONE MUST BE ON THIS

Everything you wanted to know about Rake Rebates and weren't afraid to ask over and over and over and over and over.

I posted this over at www.PokerSourceOnline.com to (hopefully) slow the repetetive questions about their Rake Rebate program that is going through the roof in popularity due to the 2+2 posts and word-of-mouth. If you do this, please use referral code DuggleBogey.

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So you are interested in a rake rebate. GOOD! Imagine all those suckers out there paying a rake and not getting anything back! Don't be one of them. Get involved with a Rake Rebate of some kind.

What is a rake?

Rake is how poker sites make money. When you play a game against an online opponent or several, a portion of the pot is taken away from the winner by the site that hosts the game. Usually online it is 5%, but it depends on the site and the amount in the pot. For tournaments the "rake" is added to the tournament buy-in. If you play a $30+3 tournament, The $3 from each player is the rake.

5% isn't that much, why should I care?

You'd be amazed how fast that 5% can build up. If you use poker tracker you know how many hundreds of dollars you pay in rake every month, even if you only play a few hours a week.

You're right, that's a lot of money I'm losing! What can I do about it?

Get a rake rebate! Poker rooms want to keep customers playing at their site and not leaving to play at some site that offers them a 20% bonus for buying in. So they will give you back a percentage of what you pay in rake in order to keep your business. Rake rebates started around 5%, and quickly went up to 10%. If you looked hard you might find someone who gave out 15-20%. The 27.5% offered by Poker Source Online is unparalleled.

How is the rake rebate calculated?

This is the most common question, and the most difficult to answer, because there are different poker sites that calculate in different ways. To simplify as much as possible, we will break them down into two methods (the only two that are used by offers from PSO.) One is the "Party Poker Method" and the second is the "Others method."

The "Others Method" is pretty straightforward. If you have contributed to a pot, you get your share of the rake attributed to you. "Your share" means you have to share the total amount of the rake with everyone that contributed to the pot. From "your share" you multiply by 27.5% and that's how much you get back.

For example, You are at a table with ten players, four players see the flop, including you. You have contributed to the pot so will get your share. The total rake for the hand ends up being $2.00, so your "share" of that rake is $.50. You get 27.5% of that $.50 back in your rake rebate.

The "Party Method" is the same as the "Others Method" except that you get credit for your share of the rake even if you haven't contributed to the pot. So your share is divided by the total number of people at the table who received cards. Example: You are playing at a table of 10 and fold pre-flop but 4 other people see the flop. The total rake ends up being $2 for the hand. Your share in this instance is $.20. Your share of the total rake is smaller, but should happen more often.

What about tournaments?

For sites that give rebates on tournament fees, you get 27.5% back on any fee you pay. If you buy into two $30+3 tournaments, you get 27.5% of the $6 in fees, or $1.65.

Which sites use which method?

Party Poker, PokerNow, Empire Poker, Absolute Poker, Aztec Riches and The Gaming Club Poker all use the "Party Poker Method"

Ultimate Bet uses the other method, and I'm not sure about Caribbean Sun, but I suspect they use the "Others Method."

Which one should I pick?

The "Party Poker Method" is probably the most popluar, although which is actually better depends on how you play and what game you play. It really is up to your personal preference. If you have a favorite site and there is a rebate offered there, DEFINITELY play that one. Don't switch sites just because the rake rebate is different. You'll probably regret it. Remember that rake rebate is just a bonus, the goal is still to play profitable poker. If you let rake rebate affect the way you play, it's probably not a good idea.

I'm signed up, how do I get my money?

PokerSourceOnline gives rebates in two different methods. For Absolute Poker and Caribbean Sun Poker, the cash is just put back into your account.

For all others, the sites basically forbid cash rebates, so your rebate is awarded to you in PSO points, which can be redeemed at the PSO store for merchandise or gift certificates.

How often will I get my rebate?

Rebates are awarded once a month for most sites. Others are updated twice per month.

How much rebate can I get with this?

Some people are getting THOUSANDS of dollars back every month. There is no limit to how much you get back, it all depends on how much you play.

Is it worth the hassle?

Once you have signed up, there is no hassle. You just play your normal game at your normal rate, and you get rewards every month. What could be easier than that?

Can I get a rebate at a site I already play?

Unfortunately no. Poker sites only pay affilliates to get NEW customers, not to let the poker site keep existing customers. So it is unusual for poker sites to offer rebates to existing customers. Since the best deals are always through affiliate sites, you will have to sign up at a new room to get involved in a rake rebate program. But the good news is there are many rooms on the same network that offer rebates. If you play at Aztec Riches already, you can get a rake rebate from The Gaming Club, which has the same tables. If you already play at Party Poker, you can sign up at PokerNow (look in the forum for instructions how to do this) and play the exact same tables.

Can I get a referral bonusfor my friends who sign up with FFP?

Yes you can, the referrer gets $5 or 500 PSO points for every person they recommend that accumulates a certain amount of rake.

Do I start earning FFPs right away?

If you earn a bonus for joining the room, you have to work off that bonus in rake before you can start earning rebates. In other words, NO DOUBLE DIPPING. For example: If you get $100 in bonus, you must generate $100 in rake rebate BEFORE you start earning PSO points. Bonuses are usually a better deal than rebates (unless every hand you play gets raked the full amount) you are better off with the bonus. This also applies to reload bonuses.