Online poker is a game of poker that can be played via the Internet. It is partly responsible for the dramatic rise in poker players all over the world. The monthly revenues from online poker was estimated at US$ 200,000,000 in 2005.
Traditional (or “brick-and-mortar”, B&M, or live) poker venues, such as poker rooms and casinos, can be intimidating to novice poker players. These venues are often found in remote locations. Because it is difficult to make money from poker, brick-and-mortar casinos are reluctantly promoting it. Even though the rake (or time charge) of traditional casinos is often high the opportunity costs of operating a poker room can be even higher. Brick and mortar casinos often make more money by closing poker rooms and adding slot machines.
Online venues are, however, much cheaper due to the lower overhead costs. The addition of a table to an online casino does not occupy valuable space. Online poker rooms offer low stakes play (as low at 1C/) as well as freeroll tournaments that attract beginners Ezwin.
Online venues could be more vulnerable to certain types of fraud, including collusion between players. Online venues have collusion detection capabilities that are not available at brick and mortar casinos. Online poker room security staff can see the hand history of all players on the site. This makes it easier to identify patterns of behavior than in a casino where colluding members can fold their hands with no one knowing how strong their holdings are. Online poker rooms also monitor players’ IP addresses to make sure that they are not playing at the same tables as others.
In the form of IRC Poker, free online poker was possible as early as 1990s. Planet Poker was soon the first online casino to offer real money poker. Planet Poker was founded by Mike Caro, the “face” of Planet Poker.
To attract new players, the major online poker sites offer many different features. Satellite tournaments, which allow winners to enter real-life poker tournaments, are one common feature. Chris Moneymaker received his entry to the 2003 World Series of Poker by winning a satellite tournament on PokerStars. He won the main event, shocking the poker world. 2004 World Series saw three times the number of players as 2003. An estimated four players won their entries via an online cardroom at the WSOP Final Table. Like Moneymaker 2004, Greg “Fossilman”, Raymer won his entry through the PokerStars Online Cardroom.
Sportingbet Plc (at the time, the world’s largest publicly traded online gambling company) announced in October 2004 the acquisition by ParadisePoker.com. ParadisePoker.com is one of the most important and successful online poker rooms. The acquisition of ParadisePoker.com, a $340 million-dollar online poker site, marked the first public ownership of an online cardroom. Since then, several cardroom parent companies went public.
PartyGaming was the parent company of PartyPoker online casino. In June 2005, PartyGaming went public on the London Stock Exchange. The initial public offering value exceeded $8 billion. Ninety-two% of Party Gaming’s income was derived from poker operations at the time of the IPO.
Download and install the software to play online poker. The graphics are generally very good. However, they may not be as good for those using java-based programs. You should also set a budget before you start playing online poker. This will help to prevent unnecessary expenses. You can improve your money management skills by learning how to manage money online.
Don’t forget to be smart if you want to play online poker. Your common sense should prevail. It is important to think with your mind, not just with your money. Have fun and take it easy.