Internet Poker History
DominoQQ What is Online Poker? Online poker is your game of poker played over the Internet. It has been partly responsible for a massive gain in the number of poker players worldwide. Christiansen Capital Advisors stated 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 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 the US Enforcement Business Joseph Eve, Certified Public Accountants, estimated that one in every four dollars gambled is gambled online. Difference Between Traditional 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 often located in geographically disparate locations. Additionally, brick and mortar stores are hesitant to promote poker because it's hard for them to gain from it. Although the rake, or time charge, of traditional casinos is usually high, 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 estimate that poker accounts for 1% of brick and mortar casino revenues. Online venues, by contrast, are dramatically cheaper because they have much smaller overhead costs. By way of example, adding another table doesn't take up valuable space like it would for a physical casino. Internet poker rooms also permit the players to play for low stakes (as low as 1pennies/2cents) and often provide poker freeroll tournaments (where there isn't any entrance fee), attracting novices or less affluent clientele. Online venues may be more vulnerable to particular types of fraud, especially collusion between players. But they have collusion detection abilities that don't exist in physical casinos. For example, internet 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 anyone ever knowing the strength of the holding. Online poker rooms also assess players' IP addresses so as to prevent players in precisely the exact same home or at known open proxy servers from playing the very same tables. Digital
apparatus fingerprinting also allows poker sites to recognize and block players who make new accounts in attempts to bypass prior accounts receivable, limitations and closures. History of Online Poker Free poker online was played as early as the late 1990s in the kind of IRC poker. Planet Poker was the first online card room to provide real cash games in 1998. The first real money poker match has been dealt on January 1, 1998. Author Mike Caro became the "face" of Planet Poker at October 1999. The significant 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 which Chris Moneymaker won his entry to the 2003 World collection of Poker. He moved on to win the primary 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 players 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 Typically, online poker rooms generate the bulk of their earnings via four methods. First, there is the rake. Similar to the vig paid to a bookie, the rake is a charge paid to the house for hosting the match. Rake is collected from most real money ring game decals. 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 area decides its own rake structure. Considering that the expenses for running an online poker table are bigger than those for running a live poker table, rake in most internet poker rooms is a lot more compact compared to its brick and mortar counterpart. Secondly, hands played in pre-scheduled multi-table and impromptu sit-and-go championships are not raked, but instead an entry fee around five to ten percent of this tournament buy is added to the entry price of the tournament. These two are generally specified at the championship details as, e.g., $20+$2 ($20 represents the buy-in that goes into the prize pool and $2 signifies the entry fee, de facto rake). Unlike real casino tournaments, online tournaments don't deduct dealer tips and other expenses from the prize pool. Third, a few online poker sites also supply side games such as blackjack, roulettes , or side stakes on poker hands where the player plays against "the house" for real money. The odds have been in your house's favor in these types of matches, so producing a profit for the home. Some websites go so far as getting affiliated with online casinos, or perhaps incorporating them into the poker room software. Fourth, like virtually all institutions that hold money, online poker websites invest the money that gamers deposit. Regulations in most jurisdictions exist in an effort to restrict the form of dangers websites can take together with their clients' cash. However, as the websites do not need to pay interest on gamers' bankrolls even low-risk investments can be a substantial source of earnings. DewaPoker