Solely from observing others play, the electronic table deals the virtual cards, asks each player in turn if they want to fold/check/bet, moves virtual chips around the table top, flips out the common cards and reveals them in the appropriate manner, and then runs the rest of each hand, It's really no different from playing in a virtual cardroom.
I have no idea how a rake works, but I'm sure there is one, and it's probably hefty.