Is there any limit to how much I can earn through RAF?

No. There is no limit to how much you can earn through RAF. After inviting your friend, you will earn 250 IB from the first five deposits (50 IB on every deposit) your friend makes. Post that, you can avail Unlimited Earnings as your friend earns PGPs while playing on the cash tables (1 IB for every PGP earned).

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