Poker: When do customers receive their rakeback?
Rakeback payments are made twice monthly; on the 1st and 3rd Thursday of each month. Please note that rakeback will only be paid for existing customers on a rakeback scheme.
Customers who are on the old Rakeback scheme will not be a part of the Priority Club. Should you wish to be moved to the Priority Club instead of continuing to receive rakeback, please let us know and we would be able to process this change on your account. Bear in mind that once you have been moved off a rakeback deal, we would never be able to reverse this change.
How will my rakeback be calculated?
Overall rakeback rates will still be determined by overall rake measured on a monthly basis. However, 'mid-month' payments will always be made at a 'base rate' - ie. the lowest rakeback rate that a player could achieve at that point of the month.
A player rakes £1,000 in the first 2 weeks of February (before the mid-month payment) and is therefore due 30% rakeback.
Although he is now likely to rake > £1,500 in the month, at this point he will receive 30% rakeback on his month’s activity - £300 (i.e. £1,000*30%) - on Thursday 18th February (February’s third Thursday).
He then goes on to rake another £1,000 in the rest of February, meaning he has raked a total of £2,000 and is due 40% rakeback.
He will thus then receive 40% on his £1,000 = £400, plus a further 10% on the initial £1,000 = £100, totalling a further £500.
Month end payment:
Total rakeback to the player for the month is therefore £800.
- Mid-month rakeback will be calculated on all rake generated from the 1st of the month until the previous Tuesday.
- Rakeback payments made on the first Thursday of the month will be on all rake generated in the remainder of the previous month.