Quote:
Originally Posted by ChicagoRy
Any relevant discussion about rake needs to factor in player rewards.
Good point. So, OP you can factor in rakeback in the above equation like this:
max rake = (2w-1)/(2w - rb) where rb is the rakeback %.
Example:
If you have 27% rakeback then the max rake you can pay while breaking even (after rakeback) is:
max rake = (2*0.518-1)/(2*0.518 - 0.27) ~= 4.7%
Simple check. Suppose you played on some site with that much rake (4.7%):
Then 51.8% of the time you would win (100 - 2*100*0.047 + 100*0.047*0.27) and 48.2% of the time you would lose (-100 + 100*0.047*0.27) which would average to approximate breakeven.