The poker room takes a fee called rake from the pot of each play. This fee is about 3-5% of each pot. This rake may amount to little but when a payer plays a lot, the rake can go up to hundreds all the way up to tens of thousands of dollars per month. Rakeback is a certain amount of the rake given back to players by the poker rooms in order to lure more players to continue playing at their site. With rakeback you get back around 25-35% of the fees returned to you each month.
Most of the rakeback deals offered are usually paid directly into the player’s account at the poker room. Payments are usually done 5-20 days after a month is finished depending on the program. If this does not happen automatically, then you can request for a manual payment through a resource like Netteller. Wire transfers are also available for larger withdrawals.
Generally, it is not possible to get rakeback on an existing account directly but since most sites are a part of a larger network you might be able to get rakeback on the same tables and with the same players etc. by signing up on another skin.
There are two ways to calculate rakeback contributed and shared.
With the contributed rake calculation method you earn rakeback based the the amount you actually put into the pots. If for example a pot reaches $25 and you put in $5 of that money then $5 divided by $25, ie 20% of the rake which the room took from that pot if yours.
With the shared rake calculation method you earn rakeback whenever you are dealt cards in a hand, even if you fold without contributing anything to the pot.