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What happens is these affiliates get paid a one time fee to bring players to certain poker rooms that agree to get involved in these type offers. The afiliate kicks back part of this fee to you for signing up through them. Typical rooms that agree to do this are Titan, Party, Full Tilt, Ultimate Bet and Absolute. The only drawback is that you can't get rakeback on tha troom later. For example if down the road you decided you wanted to play a bunch at Full Tilt but already signed up somewhere for a free $50 then you're stuck and can't get rakeback there ever. That's really the only catch.
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