Rakeback can be explained better if a knowledge of rake is available firstly. Rake is the little bit of money taken from a cash game by the poker room, this is taken both online and at live poker games in a casino or poker room and Full Tilt use the dealt method. When playing Full Tilt tournaments or sit and go tournaments etc, rake is taken by way of a small charge on top of the entry fee, it is normally set at a figure somewhere between 5 and 10 percent.
If you play poker without a rakeback deal you are losing out on a substantial amount of money, you should be getting this back. Imagine going to the shop and buying an item and not taking your change. You would never normally consider this under normal circumstances would you? Not getting rake back at a poker room when it is available is tantamount to the same thing.
If you played 100 x $100 tournaments you would have raked in the region of $1000, similarly if you played a lot of cash games you could easily accrue rake of one two or even three thousand dollars, dependant on how often and at whet level you play. At this point, i would like to add this, whatever you pay in rake, you are a fool if you do not try to get some back. Even if you could only get $20 a month back, you should try to get it back, i mean, you would not leave a $20 note on the street if you saw it, now would you, neither would you walk away from a shop leaving the change from a fifty when you had purchased an item for thirty. You would want your change back of course.
Rakeback is a percentage of the rake paid that is returned to you. For example, if you paid $1000 in rake last week, you would be getting $270 back this week with the 27% rake back deal that we have on offer at Full Tilt.