He has played 24,006 of the $50 buy ins. At 6% rake, that is $3 rake per game. 24,006*3=72018. If he is getting a huge 70% rakeback, (This is being generous because it won't be that high even with the leaderboard.) he will have gotten $50412.6 back in rakeback. He is down over $53,150 pre rakeback. So, he is still losing money even with a rakeback that isn't attainable playing these.