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| History Of Rakeback |
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History Of Rakeback
In recent times, many online poker players are enjoying the phenomenon of poker rake back. The rake is a certain amount of money taken out of each poker pot by the casino in order for the casino to make money through poker. A rakeback deal is an online phenomenon wherein a percentage of this casino rake is returned to the player. You may wonder how such an idea got started.
In the early days of casinos, little incentive was needed to get the attention of gamblers. However, as casino hot spots like Las Vegas and Atlantic City grew, casinos began to compete for business. Each new gambler represented a nice chunk of profit for the casino, and each casino wanted every one. To this end, the casinos began to offer comps, free food, shows, or rooms as a reward for playing at that particular casino. Sadly, poker players could not share in this courtship. Poker was not a big money maker for the casino. Casinos made money through charging the rake, which amounted to no more than a few dollars out of each pot. The edge the House made on things like craps side bets and blackjack with uneducated players amounted to huge sums. Casinos did not really want their patrons wasting time on something with such a low profit margin as poker, and so little incentive was offered.
Poker card rooms in places like California sometimes offered a Player’s Card, essentially giving back part of the rake for continued play, but since there was not too much competition, the amount offered was minimal if it was offered at all.
Then came the online phenomenon. Suddenly, there was a massive new pool of gamblers looking for action. There was online blackjack, slots, and all the rest to be sure, but the game everyone wanted to play was poker. Especially after Chris Moneymaker won the World Series of Poker on ESPN through an online poker satellite, Internet poker experienced an explosion. With the players, came new sites, and finally, a need for incentives.
Initially, the only incentive was the bonus, a percentage of one’s deposit offered in additional funds for signing up with a new site or for continued play. As the sites and the competition grew, some savvy poker affiliates and online poker sites realized they could do more, and the concept of rake back was born. Now players were only limited in how much they could earn in incentives by how long they could play. If the number of players flocking to sign up through rake back affiliates is any indication, rake back is here to stay.
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