The ACH transfer hit my bank account today. Every American poker player who played on Full Tilt Poker has been waiting these last 34 months since poker's Black Friday to receive their funds back (roughly $82 million I'm told). Mine wasn't a large amount (<$1000) as I had been intentionally keeping my account balance light at the time. Rather it was the principle of returning money that didn't belong to Full Tilt Poker or to the U.S. Government. For me it provided some closure and an artificial but symbolic ending to...
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Rake is the term for what poker players pay to play poker on a poker site. Rake is how poker rooms make money. The poker sites deducts a certain amount from every cash game pot, or have the player pay an extra fee on top of the buy in for every tournament and Sit and Go. The poker sites average a 5% rake across all their games. With the volume of players and hands, that accumulates into a tremendous amount of money. Rakeback is simply a discount you receive back from the rake you pay in.
Bad beats only happen to good players - Joe Crow
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