Players everywhere are asking “What is Rakeback?” Many players think rakeback is only for professional players, we are here to change your mind on that and this short explanation below will show you exactly why rakeback is for everybody:

What is Rake?

In order for poker sites like NoiQ to make money they charge players to play. This charge comes in the form of the rake. In a cash game the poker site will take a percentage of the pot for themselves. At NoiQ the rake percentage is 5% which is capped depending on which level you are playing at. In Tournaments and Sit & Gos the rake is the amount of the buy in that is not included in the prize pool – the tournament fee.

Example:

In a cash game the total pot is €20. The rake is at 5% so NoiQ will take €1 out of the pot and whoever wins the pot will win €19.

In a tournament the buy in is €10 + €1 – the rake is the €1 tournament fee.

What is Rakeback?

Rakeback is a 3^rd party loyalty scheme that ensures you receive a percentage of the rake you have paid deposited back into your account at the end of the month. At NoiQ we offer the maximum 30% rakeback meaning if you have paid €100 in rake over the course of the month you will receive €30 back into your account. Rake is measured at NoiQ using the weighted contributed method.

What is the Weighted Contributed Method?

The Weighted Contributed Method, or actual paid rake, is the fairest of rake calculation methods as your rakeback is calculated based on exactly what you have contributed to the rake. If in a pot you contribute a third of the pot (and thus a third of the rake) you will be eligible to receive rakeback on a third of the rake earned by the poker site during that hand.

Example:

In a cash game the total pot is $20 and you have contributed exactly half the pot.

The rake the poker site has earned is $1 and you can receive rakeback on half of this.

30% X $0.50 = $0.15

You would receive $0.15 in rakeback

Whilst in one hand this is not a lot of money if you continue to play for thousands of hands, this can soon add up. The weighted contributed method favours loose aggressive players rather than tight players as only money you contribute to a pot will be eligible for rakeback.

Hopefully we have now answered your queries and you will never be left wondering “What is Rakeback?” ever again. If you haven’t already gone to sign up then simply click here to sign up now and start earning 30% rakeback.