Hey, just a quick question regarding the rake back system and free membership. You say that $500 must be generated in rake back, is that simply $500 wagered money within the month?
It is a little more complicated than that. You need to reach $500 of gross rake for the month. To put it simply, this would be $500 of money paid as rake. For example, if you are playing $100+5 games, you would need to play 100 of these to have paid $500 in rake.
It is slightly more complicated than this though because actions that cost the site money reduce your gross rake. For example, if you use points in the store it will come out of your MGR (it will still be much cheaper than actually buying an item, but in some sense you are paying for part of it). There are also deposit fees when you first deposit and I believe there are cash out fees as well. These fees are very small but still affect your MGR.
Overlay in tournaments will also reduce your MGR. For example, if you are in a $5000 guaranteed tournament with 500 people and there is only $4500 worth of buy ins, then $500/500(people) would come out of your MGR, so your MGR would go down by $1. I could be wrong on this calculation so don't quote me on it, but I believe that is it.
These might vary slightly from site to site, but are all fairly standard.
Hey thanks for the response. one more question I have. I signed up w/ the rakeback and got the confirmation for it and what not, how often does the update data for my rakeback update? i have played a few hundred cash game hu hands and no info has updated on my rakeback tracking.
I've been told it is once or twice a day, but it often seems behind for me as well. I don't think that this is avoidable on our end because it is dependent upon the site giving us updates. However, as long as you are signed up correctly you will end up getting the correct amount at the end of the month.
It is a little more complicated than that. You need to reach $500 of gross rake for the month. To put it simply, this would be $500 of money paid as rake. For example, if you are playing $100+5 games, you would need to play 100 of these to have paid $500 in rake.
It is slightly more complicated than this though because actions that cost the site money reduce your gross rake. For example, if you use points in the store it will come out of your MGR (it will still be much cheaper than actually buying an item, but in some sense you are paying for part of it). There are also deposit fees when you first deposit and I believe there are cash out fees as well. These fees are very small but still affect your MGR.
Overlay in tournaments will also reduce your MGR. For example, if you are in a $5000 guaranteed tournament with 500 people and there is only $4500 worth of buy ins, then $500/500(people) would come out of your MGR, so your MGR would go down by $1. I could be wrong on this calculation so don't quote me on it, but I believe that is it.
These might vary slightly from site to site, but are all fairly standard.
Hey thanks for the response. one more question I have. I signed up w/ the rakeback and got the confirmation for it and what not, how often does the update data for my rakeback update? i have played a few hundred cash game hu hands and no info has updated on my rakeback tracking.
I've been told it is once or twice a day, but it often seems behind for me as well. I don't think that this is avoidable on our end because it is dependent upon the site giving us updates. However, as long as you are signed up correctly you will end up getting the correct amount at the end of the month.