Online Poker Tournaments
DominoQQ What is Online Poker? Online poker is your game of poker played over the Internet. It's been partly responsible for a massive 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, while a survey performed by DrKW and Global Betting and Gaming Consultants claimed online poker earnings 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 Enforcement Business 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, live, land-based) venues for playing poker, such as casinos and poker rooms, may be intimidating for novice players and are often located in geographically remote locations. Also, brick and mortar casinos are somewhat hesitant to promote poker because it is difficult for them to gain from it. Although the rake, or time charge, of traditional casinos is usually large, the opportunity costs of running a poker room are even higher. Brick and mortar casinos often make much more money by removing poker rooms and adding more slot machines for instance, figures from the Gambling Accounting Firm Joseph Eve estimate that poker accounts for 1 percent of brick and mortar casino earnings. Online venues, by contrast, are dramatically cheaper because they have much smaller overhead costs. For instance, adding another table doesn't take up valuable space like it would for a physical casino. Internet poker rooms also allow the players to play low stakes (as low as 1cents/2cents) and often provide poker freeroll tournaments (where there is no entrance fee), attracting beginners and/or less wealthy clientele. Online venues may be more vulnerable to particular kinds of fraud, especially collusion between players. However, they've collusion detection abilities that don't exist in brick and mortar casinos. By way of example, online 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 anybody ever knowing the strength of their holding. Internet poker rooms also check players' IP addresses in order to prevent players at the exact same household or at known open proxy servers from playing the very same tables. Digital device fingerprinting also allows poker websites to recognize and block players that create new accounts in efforts to bypass prior accounts receivable, limitations and closures.
History of Online Poker Free poker online has been played as early as the late 1990s in the form of IRC poker game. Planet Poker was the first online card room to provide real money games from 1998. The first real money poker game has been dealt on January 1, 1998. Writer Mike Caro became the "face" of Planet Poker in October 1999. The major online poker sites offer varying features to entice new players. 1 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 that Chris Moneymaker won his entry to the 2003 World collection of Poker. He moved 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 in the PokerStars online cardroom. Four Ways online poker rooms gain Normally, internet poker rooms generate the bulk of their revenue through four methods. First, there's the rake. Similar to the vig paid into a bookie, the rake is a charge paid to the house for hosting the game. Rake is collected from most real money ring game decals. The rake is normally calculated as a percentage of the pot based on a sliding scale and capped at a maximum fee. Each online poker area decides its rake structure. Considering that the expenses for running an internet poker table are bigger than those for conducting a live poker desk, rake in most internet poker rooms is much more compact than its brick and mortar counterpart. Secondly, palms played in pre-scheduled multi-table and impromptu sit-and-go tournaments are not raked, but rather an entry fee around five to ten percent of the tournament buy is added to the entry price of this tournament. These two are usually specified in the championship particulars as, e.g., $20+$2 ($20 signifies the buy-in which goes into the prize pool and $2 represents the entry fee, de facto rake). Unlike actual casino tournaments, online tournaments do not deduct dealer tips and other expenses from the prize pool. Third, a few online poker websites also offer side games like blackjack, roulettes side stakes on poker hands in which the player plays against "the house" for real money. The odds are in your house's favor in these types of games, so producing a profit for the home. Some websites go so far as getting affiliated with internet casinos, or even integrating them into the poker room software. Fourth, like virtually all institutions which hold money, online poker sites invest the cash that gamers deposit. Regulations in most jurisdictions exist in an effort to restrict the form of dangers websites can take together with their customers' money. However, as the sites don't have to pay interest on gamers' bankrolls even low-risk investments can be a substantial source of earnings. Domino Qiu Qiu