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What is Online Poker? Internet poker is the game of poker played on the web. It's been partially responsible for a massive gain in the amount of poker players worldwide. Christiansen Capital Advisors stated online poker earnings 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 asserted 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, live, land-based) venues for playing poker, like casinos and poker rooms, could be intimidating for novice players and are frequently found in geographically disparate locations. Additionally, brick and mortar casinos are somewhat hesitant to promote poker because it's hard for them to profit 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 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. For example, adding another table doesn't take up valuable space as it would for a brick and mortar casino. Online poker rooms also permit the players to play for low stakes (as low as 1pennies/2pennies) and frequently provide poker freeroll tournaments (in which there isn't any entrance fee), attracting beginners and/or less affluent clientele. Online venues may be more vulnerable to particular kinds of fraud, especially collusion between players. However, they have collusion detection abilities that don't exist in physical casinos. By way of instance, 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 anybody ever knowing the strength of their holding. Online poker rooms also assess players' IP addresses so as to prevent players at the exact same household or at known open proxy servers from playing on the very same tables. Digital apparatus fingerprinting also allows poker websites to recognize and prevent players that create new accounts in attempts to circumvent prior account bans, limitations and closures. History of Internet Poker Free poker online has been performed as early as the late 1990s in the kind of IRC poker. Planet Poker was the first online card room to provide real money games in 1998. The first real money poker match was 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 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 gain Typically, online poker rooms generate the majority of their revenue via four methods. First, there's the rake. Similar to the vig paid to a bookie, the rake is a fee paid into the house for hosting the game. Rake is collected from most real money ring game pots. The rake is generally calculated as a percentage of the pot based on a sliding scale and capped at a maximum fee. Each online poker room determines its own rake structure. Since the expenses for running an online poker table are bigger than those for conducting a live poker desk, rake in the majority of online poker rooms is a lot smaller compared to its brick and mortar counterpart. Secondly, hands played in pre-scheduled multi-table and impromptu sit-and-go championships aren't raked, but rather an entry fee approximately five to ten percent of the championship buy is added to the entry cost of this tournament. These two are usually specified in the tournament details as, e.g., $20+$2 ($20 signifies the buy-in that goes into the prize pool and $2 represents the entrance fee, de facto rake). Unlike actual casino tournaments, online tournaments don't deduct dealer tips and other costs from the prize pool. Third, some online poker sites also supply side games like blackjack, roulettes , or side stakes on poker hands in which the player plays "the home" for actual money. The odds are in your house's favor in these games, thus producing a gain for your house. Some websites go so far as becoming affiliated with online casinos, or even incorporating them in the poker room program. Fourth, like almost all institutions which hold cash, online poker websites invest the cash that gamers deposit. Regulations in many jurisdictions exist in a bid to restrict the sort of dangers sites can take with their clients' money. But as the websites do not have to pay interest on gamers' bankrolls even low-risk investments can be a substantial source of revenue. Domino Online
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