The term “rakeback pro” is something that has been in common parlance now for quite some time in online cash poker games. As a poker writer and player of some years then many people expect me to basically be something that I am not and that is a high stakes poker player. To put the record straight this was something that I tried to be some time ago but the tough part is not in becoming good enough to play those levels but in finding enough value to stay there. You also need a strong element of mental toughness to be able to withstand the huge swings at the higher levels.
The level of variance and the standard deviation are directly linked to your edge and when your edge shrinks then the swings get larger. I just couldn’t hack it mentally and this is something that gets deeply entrenched on a psychological level as you get older. So these days I am not ashamed to admit that I am a “rakeback pro” when I play and my methods these days involve playing large numbers of tables at easy levels that I know I can beat and getting the best rake deal that I can.
But like I said yesterday, breaking even can make you an awful lot of money in poker these days. In years gone by then breaking even on a poker table long term would have been a waste of time as a money making exercise and the only thing that you would have got out of it would be the entertainment value. These days if you can replicate breaking even over a large number of tables then you are in heaven so to speak.
Also when you are in this situation then the dynamic totally changes and you do not need to bust a gut to make money from the actual games. Suddenly making money from poker becomes far easier because you are not having to press all the time and you can tone down your aggression. Over pressing is one of the primary faults of players who struggle to make money at poker.
I had to make a decision once upon a time…….do I want to become a “player” or do I want to make a lot of money playing online poker? When I heard of a player who was making $7000/month just in rakeback playing sixteen tables of $1-$2 limit hold’em then I was staggered. On top of this was the fact that this player was making another $50/hour from the games themselves and he was playing full time. I just could not comprehend how someone could make $15,000/month playing so low. If you said to anyone that you played $1-$2 limit then anyone would think that you were a beginner and so would I have done once upon a time. But yet these online earnings are pitching in with the very best in the world in terms of earnings. It was staggering to me and still is but it highlighted that I had to change my ways……and I did.
