Out of all casino games, poker is the single one in which players compete against each other instead of against the house. Because players are losing money to each other instead of pouring their losses directly into the house’s coffers, the casinos require them to pay rake, which in actuality is a fixed percentage of all pots contributed by the players at the tables.
To motivate players to return to their poker platforms, the websites would give them a chance to recoup a portion of this rake by opting in for a rakeback bonus. These bonuses are usually in the range of 15% to 30% of the rake you have paid during the week, the month, and sometimes even the day. There may be a minimum percentage contribution in the form of rake which the players must pay before they become eligible for the promotion.
This is how it usually works. First, you opt in for the rakeback bonus at the poker platform you play at by entering a valid promo code. Then, you join fellow players at your preferred virtual poker tables where you are raked with a small fee each time you participate in a pot.
This causes you to generate points which sort of resemble the casino comp points. Every $1 you contribute to a pot in the form of rake earns you a specific number of points and at the end of the week or month, these are automatically converted into real-money chips and are added to your balance. For example, at 32Red they offer you a 30% rakeback deal where you receive 30 points called “redbacks” for every $1 you pay in rake. These are converted into cash at a rate of 100 points for $1.
At the majority of poker platforms, you can participate in the rakeback promotion while still being able to redeem other bonuses. However, there are exceptions to every rule so we recommend you to read the terms of the rakeback deals in detail to ensure opting in for other bonuses is allowed.