Online Poker
DominoBet What is Online Poker? Online poker is the game of poker played on the Internet. It has been partly responsible for a massive increase in the amount of poker players worldwide. Christiansen Capital Advisors said online poker earnings grew from $82.7 million in 2001 to $2.4 billion in 2005, while a survey carried out by DrKW and Global Betting and Gaming Consultants asserted online poker earnings in 2004 were at $1.4 billion. In a testimony before the United States Senate regarding Internet Gaming, 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, may be intimidating for novice players and are frequently located in geographically remote locations. Additionally, brick and mortar stores are somewhat reluctant to promote poker as it's hard for them to gain from it. Though the rake, or time charge, of traditional casinos is often 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 by the Gaming Accounting Firm Joseph Eve quote 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. By way of instance, adding another table doesn't take up valuable space as it would for a physical casino. Internet poker rooms also permit the players to play low stakes (as low as 1pennies/2pennies) and frequently provide poker freeroll tournaments (where there isn't any entry fee), attracting novices or less affluent clientele. Online venues may be more vulnerable to certain types of fraud, especially collusion between players. However, they have collusion detection abilities that do not exist in brick and mortar casinos. For example, online poker room security employees can examine the hand 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. Online poker rooms also assess players' IP addresses in order to prevent players in precisely the exact same household or at known open proxy servers from playing on the very same tables. Digital device fingerprinting also permits poker websites to recognize and prevent players that create new accounts in attempts to bypass prior account bans, restrictions and closures. History of Internet Poker Free poker online was performed as early as the late 1990s in the form of IRC poker game. Planet Poker was the first online card area to offer real cash games from 1998. The initial real money poker match was dealt on January 1, 1998. Writer Mike Caro became the "face" of Planet Poker in October 1999. The major internet 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 which Chris Moneymaker won his entry to the 2003 World Series of Poker. He went on to win the primary event, causing shock in the poker world, and beginning 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 profit Normally, internet poker rooms create the bulk of their earnings via four methods. First, there's the rake. Like the vig paid into a bookie, the rake is a charge paid to the home for hosting the game. Rake is accumulated from most real money ring game pots. The rake is normally calculated as a percentage of the pot according to a sliding scale and capped at some maximum fee. Each online poker area determines its own rake structure. Since the expenses for conducting an online poker table are bigger than those for conducting a live poker table, rake in most online poker rooms is much smaller compared to its brick and mortar counterpart. Second, palms played in pre-scheduled multi-table and impromptu sit-and-go tournaments are not raked, but instead an entry fee approximately five to ten percent of this championship buy is added to the entry price of the tournament. These two are usually specified at the championship details as, e.g., $20+$2 ($20 signifies the buy-in that goes into the prize pool and $2 signifies the entrance fee, de facto rake). Unlike real casino tournaments, online tournaments do not deduct dealer tips and other expenses in the prize pool. Third, some online poker sites also supply side games such as blackjack, roulettes , or unwanted bets on poker hands where the player plays "the house" for real cash. The chances are in your house's favor in these types of matches, so producing a gain for your home. Some sites go so far as becoming affiliated with internet casinos, or perhaps integrating them into the poker room program. Fourth, like almost all institutions which hold money, online poker websites 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' cash. But since the websites don't have to pay attention on players' bankrolls even low-risk investments can be a substantial source of revenue. Domino Bet