Some online poker players mistakenly assume that the only way to earn poker money is on the tables. However, this couldn’t be further from the truth since there are a variety of ways that people can earn bonuses and other rewards. This being said, here is a quick look at some of the different ways in which you can make poker money:
Rakeback – Perhaps the best way to make extra money on the poker tables is through rakeback deals. If you’ve never heard of rakeback, this is a special deal that you get through poker affiliates, which pays you money back based on the rake you generate at online poker rooms. For example, if you had a 50% rakeback deal and played in a £50 + £5 poker tournament, you would receive £2.50 in rakeback (0.5 X £5).
Poker Cashback – A deal that’s very similar to rakeback is poker cashback. This is sometimes offered at poker sites that don’t have rakeback deals, and it also pays players back money based on the rake they contribute. However, the one difference is that cashback is based on a person’s level in a VIP program, rather than a flat rate; so the higher your level is in a VIP program, the more cashback you’ll receive.
Signup Bonus – As the name implies, a signup bonus is potential money you can earn just for signing up at a poker site. So if you were going to join PKR Poker, which offers a 120% up to $800 signup bonus to RakeTheRake players, you would be eligible for the maximum bonus of $800 as long as you deposited $667. Once the deposit is made, the next step involves actually earning the money through frequent play.
VIP Program – Online poker sites reward frequent players through VIP programs – a.k.a. loyalty programs. As a person plays online poker, they’ll receive VIP points, which can then be used in a variety of ways. For example, sites allow you to use points to enter poker tournament for free, trade the points in for cash, or buy merchandise from their poker stores.
Freerolls – Poker freerolls are tournaments that offer real money prize pools, yet don’t require buy-ins. Some freerolls are open to all members of a poker site, while others are restricted based on VIP status or other stipulations. But whatever the case may be, playing in these free poker tournaments is a great way to boost your bankroll.