Shane - Just use the correct terminology on this one when it comes out to hopefully keep everyone happy. I wasn't aware of the difference either until lady began mentioning it here. I had mostly be on PokerStars and wasn't worrying about affiliate chases and races with other sites.
Anyway, explanation here:
http://www.rakerace.com/news/analysi...o-rake-chase-/
A rake race is an event that is usually based over a monthly or weekly period, with a start and a finish point. The objective of a rake race is for players to generate the most rake within the promotion time.
Players are allowed to participate and compete for a (usually pre-determined) prize pool. During a rake race you can advance in position if you generate more rake than the other competitors. Therefore continuous play throughout the whole month is the key to winning the top prizes.
Rake chases also run over a specific time period, typically a month. Their main objective is to be among the first racers to reach a certain checkpoint or marker within the time limit. Checkpoints and markers are usually pre-determined by the amount of VIP points or rake needed to be collected.
The lower checkpoints are usually easy to reach and have a larger number of winners with minimal rewards. The higher the checkpoints are, we see the opposite occur: where the prizes get bigger, and the number of players receiveing a prize decreases.