Internet Poker History
Agen PokerGo8 What is Online Poker? Internet poker is the game of poker played over the Internet. It has been partially responsible for a huge gain in the amount of poker players worldwide. Christiansen Capital Advisors said online poker revenues grew from $82.7 million in 2001 to $2.4 billion in 2005, though a survey performed by DrKW and Global Betting and Gaming Consultants claimed online poker revenues in 2004 were at $1.4 billion. In a testimony before the United States Senate regarding Internet Gambling, Grant Eve, a Certified Public Accountant representing that the US Accounting Firm Joseph Eve, Certified Public Accountants, estimated that one in every four dollars gambled is gambled online. Difference Between Conventional Poker and Online Poker Traditional (or "brick and mortar", B&M, reside, land-based) venues for playing poker, such as casinos and poker rooms, could be intimidating for novice players and are frequently located in geographically disparate locations. Also, brick and mortar stores are somewhat hesitant to promote poker as it's hard for them to profit from it. Though the rake, or time charge, of traditional casinos is often high, the opportunity costs of running a poker room are even greater. Brick and mortar casinos often make much more money by removing poker rooms and adding more slot machines for example, figures from the Gambling Accounting Firm Joseph Eve quote that poker accounts for 1 percent of brick and mortar casino revenues. Online venues, by contrast, are dramatically cheaper because they have much smaller overhead costs. By way of instance, adding another table does not take up valuable space as it would for a physical casino. Internet poker rooms also allow the players to play for low stakes (as low as 1cents/2cents) and often offer poker freeroll tournaments (in which there is no entry fee), attracting beginners and/or less wealthy clientele. Online venues may be more vulnerable to certain types of fraud, especially collusion between players. But they have collusion detection abilities that don't exist in brick and mortar casinos. For
example, internet poker room security employees can examine the history of the cards previously played by any player on the site, making patterns of behavior easier to detect than in a casino where colluding players can simply fold their hands without anyone ever knowing the strength of their holding. Internet poker rooms also check players' IP addresses in order to prevent players in precisely the same household or at known open proxy servers from playing on the same tables. Digital apparatus fingerprinting also allows poker websites to recognize and block players that create new accounts in attempts to circumvent prior account bans, restrictions and closures. History of Online Poker Free poker online was performed as early as the late 1990s in the kind of IRC poker. Planet Poker was the first online card area to offer real cash games from 1998. The initial real money poker game has been dealt on January 1, 1998. Writer Mike Caro became the "face" of Planet Poker at October 1999. The significant online poker sites offer varying features to entice new players. One common feature is to offer tournaments called satellites by which the winners gain access to real life poker tournaments. It was through one such tournament on PokerStars which Chris Moneymaker won his entry to the 2003 World Series of Poker. He went on to win the main event, causing shock in the poker world, and starting the poker boom. The 2004 World Series featured three times as many players as in 2003. At least four gamers in the WSOP final table won their entry through an online cardroom. Like Moneymaker, 2004 winner Greg Raymer also won his entry at the PokerStars online cardroom. Four Ways online poker rooms gain Normally, online poker rooms generate the bulk of their revenue via four methods. First, there's the rake. Similar to the vig paid into a bookie, the rake is a charge paid into the home for hosting the game. Rake is collected from most real money ring game pots. The rake is generally calculated as a proportion of the pot according to a sliding scale and capped at a maximum fee. Each online poker room decides its rake structure. Since the costs for conducting an internet poker table are bigger than those for conducting a live poker table, rake in the majority of online poker rooms is much more compact compared to its brick and mortar counterpart. Second, hands played in pre-scheduled multi-table and impromptu sit-and-go championships are not raked, but rather an entry fee around five to ten percent of this tournament buy-in is added to the entry cost of the tournament. These two are usually specified in the championship details as, e.g., $20+$2 ($20 signifies the buy-in which goes into the prize pool and $2 signifies the entrance fee, de facto rake). Unlike real casino tournaments, online tournaments don't deduct dealer tips and other costs from the prize pool. Third, a few online poker sites also offer side games such as blackjack, roulettes , or unwanted bets on poker hands where the player plays "the home" for actual money. The chances have been in the house's favor in these matches, thus producing a profit for the home. Some sites go so far as getting affiliated with online casinos, or perhaps integrating them in the poker room software. Fourth, like almost all institutions which hold cash, online poker websites invest the money that gamers deposit. Regulations in many jurisdictions exist in an effort to limit the form of dangers websites can take together with their customers' cash. However, since the websites do not have to pay attention on players' bankrolls even low-risk investments can be a significant source of revenue.
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