When it comes to the term “free money,” it is something that everyone enjoys during their online gambling adventures, and rakeback deals are pretty much that.
We are going to cover all aspects of rakeback deals and everything you need to know about them while you are making bets on your favourite gambling sites.
What is rakeback betting?
The answer to this question is actually quite simple. Rakeback betting is a passive way to earn some money while you are betting online. It is a fixed amount of coins that you will be getting for every single bet you make.
The rakeback meaning was first around in 2004 when some online poker sites were giving their affiliate partners currency whenever they would enter a tournament or place some bets. This was all because of the incentive to keep the players playing, and over the years, the reason why gambling sites are still using this method is still exactly that.
People would often use the rakeback bonus with money-lining bets (for those who are not familiar with the money line meaning it is when you bet on a certain team to win, no matter the score). This would often cause big profits since it is essentially a 50/50 bet.
Are rakeback deals always the same?
Now that you know what is rakeback betting and where the rakeback meaning is coming from, we can discuss how this system usually works, with a couple of examples. As we mentioned, modern gambling sites will offer a rakeback bonus to everyone, as they want to keep players playing.
However, some gambling sites will only give it to their loyal players, and in such scenarios, the rakeback bonus is usually a bit higher. There might also be sites that are trying to promote esports betting, which makes esports rakeback a bit higher than rakeback from regular sports.
One good example of the rakeback bonus being a bit inconsistent is the bet365 rakeback. Those who have had a bet365 account and have been gambling on the site have probably seen the bet365 rakeback bonus come and go in all kinds of forms. At one point, the bonus was up to 57% for those who played poker, and for esports rakeback it was up to 35%.
A lot of esports betting sites are trying to bring players in by having some kind of rakeback deals, and the sites that dabble in both regular and esports betting will usually have an esports betting bonus as well to promote that side of the site to fans of regular sports betting.
You can also check our Gamdom review and see how rakeback deals work on that site as well. While rakeback is mostly focused on poker, you will be surprised with some exceptions.
How to calculate rakeback?
In order to calculate how much you are getting back from your rakeback deals, there are various sites that will calculate rakeback for you if you are planning to play poker. However, if you are just planning to make single bets with a flat amount of currency, then all you have to do is multiply your bet by the percentage of the rakeback that is active on your account.
For instance, if you are betting $100 on something, and the rakeback is 10%, you will be getting $10 no matter what. Know that this is different from cashback, as that bonus is activated only when you lose, while rakeback is active all the time. So if you lose your $100 bet and the cashback is also 10%, you will be getting $20.