A few pointers about poker bonuses and rakeback
If you’re more than a casual player, you know that beating online poker in the long-run requires a lot more than just skillful play. Unfortunately, the nature of online Texas Holdem is such that it hits good players with a much bigger variance than any live game would, and thus beating the schooling fish in the long-run will require nerves of steel as well as a constant exploitation of EV+. Being successful online can be – under normal circumstances – tougher than being a winner in live poker. Fortunately, online poker has a set of peculiarities that give players a supplementary EV+. These odds-enhancers are known as sign-up (first deposit) bonuses or loyalty bonuses, depending on their type. What exactly are these sign-up bonuses and how do they contribute to generating positive EV for players? No, they’re not free extra money to play with. Well, actually they are, but not in the way a rookie would see it.
A sign-up bonus rarely means money upfront. It is usually a % match on one’s first deposit, which goes into a bonus account until the player unlocks it. In order to have the bonus unlocked and transferred to his real money account, a player needs to generate rake. Every poker room has a set requirement in this respect, but the bottom line is, the generated rake will have to exceed the amount of unlocked bonus at least a few times. What that basically means is, that at the end of the bonus redemption, the player will get back a part of the rake he generated during the process. Yes indeed, it is all a form of limited rakeback, with accent on “limited”. A sign-up bonus is great because – as the above reasoning proves it – it reduces rake, and thus increases the expected value on every bet made. The problem with it is, it only lasts a certain period, after which it is either unlocked or redeemed and the player no longer enjoys the benefit of getting rake back.
Rakeback deals are permanent. They offer a set percentage of the rake back indefinitely, sometimes over the sign-up bonus. This edge never fades away, thus making sure the player has reduced rake for as long as he stays loyal. Some rakeback deals are so generous, they alone can turn a losing player into a winner at the end of the month. Download all the Poker torrents you want, and watch all those pros play for as long as you want. Certainly, from a strategy perspective, there’s a lot to be learned from those videos, but always keep one thing in mind: they are not going to teach you how you can consistently beat online poker. Online poker is an altogether different breed, which takes special weapons to defeat. Weapons like rakeback, superior table selection skills and others.
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