As you start playing poker for real money, you will be charged by the poker room with a so-called “rake”. For example, when you play for cash, the poker room will charge every player for some amount of money per pot. Amount of the rake is based on the number of players in the hand and the type of the poker they play. Online poker rooms require an entry fee that is an equivalent of the rake. If you join a $55 tournament, you might be charged with $5 rake.
But what is a rakeback? Rakeback is a part of the rake that is refunded to you at the end of the game. In case of online poker, some rooms offer a 30-40% rakeback of the overall rake you have paid during the course of the week. Rakeback is often used as a marketing element, in order to create more comfortable terms of playing in comparison with competitive online poker rooms. It is also important to know that most of the online poker rooms use third party companies to make a rakeback. However, the biggest poker platforms avoid third parties and prefer to pay out rakebacks by themselves.