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There’s a dirty little secret going on in the online poker world that people do not want you to learn about. Nearly every professional player knows about this secret and they’ve found a way to cash in on 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. Based upon their rate structure it might 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 big portion of that money back!
Online poker is a massively profitable business. Top poker sites turn over ranging from $1 million – $3 million a day. Their biggest cost is acquiring new customers. One of the ways they get new customers is to pay webmasters to put ad banners and links on their own sites to entice you to play on that particular poker site.
However the webmasters aren’t stupid. They realize that the individuals they may 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 maybe more of the fees/rake you generate playing on the poker site. And not simply for a month or possibly a year but for as long as you’re a customer!
But then the leading players – folks who generate sometimes tens of thousands of dollars in rake each month (yes, you will discover people paying $30,000+ each month in rake every month) – started to wonder why these webmasters were making all of this money in the event the player was the one actually generating the rake.
The greedy webmasters didn’t want to give up 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 many of them decided to produce a new system.
What they said was, “Hey, I will be a webmaster too. And if the poker room is paying me 35% I will give 33% back to my players and keep only 2% for providing the service.” Generally, in the event that you do the math, the top level guys generating $30,000 a month in rake all of a sudden were obtaining 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 some other perks the site might have offered them for being such a great customer.
Now lots of people are reading this and assume that there is no way they can generate thirty thousand dollars a month so it’s only profitable for the big guys. As a matter of fact, anyone can sign up at these sites. No matter how big or small a player they may be.
And one doesn’t need to play at Phil Ivey nosebleed stakes to be able to make a respectable income from playing poker. By way of example, if you play $1/$2 NL poker and also can play four tables at a time (which is very doable with some practice) and play 42 hours a week, you can make approximately $76,000 a year just on rakeback. Even when you never won a penny at the tables you could be getting about $76,000 annually back.
That is not a bad living for many people. And if you play higher stakes, more hours, more tables, or actually win money playing online poker gambling 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 your second sales drop. You’ve got the freedom to work whenever you want and just as much as you want.
But if you had to do it just on your winnings alone you could never get there. You would have to play either extremely high stakes or for numerous hours that almost all people would burn out. All thanks to rakeback, being a professional poker player is in the reach of nearly everybody.
