What is Online Poker?
Online poker is the card game poker played over the Internet in online casinos. Internet based poker is responsible for a large increase in poker players worldwide, large being an understatement. Poker revenues exploded from 82.7 million in 2001 to 2.4 billion in 2005 due to online poker players creating more exposure for the popular game. Online poker exploded because the overhead is so much lower than traditional poker rooms. Its not uncommon for physical casinos to remove poker rooms and replace them with slot machines because there is no overhead (free drinks, food, tables and maintenance) and a higher payout for the casino.
Attracting New Online Poker Players…
Online poker tables and poker tournaments are much cheaper to host due to virtually non existent overhead costs. Adding another poker tables does not take up physical space in the casino, and because of this online poker rooms offer very low stakes if the player desires. As low as 2 cent bets to learn the game, and free poker bankrolls which also attracts new players.
The Legality Of Online Poker
Online poker is different from typical phsical casino poker rooms, however the rules are similar in that the online version of poker is still regulated. Previously online poker laws stated that all online casino operations had to be physically relocated into the Unites States to be legal. But on October 13, 2006 President Bush signed the Safe Port Act, which included the Unlawful Internet Gambling Enforcement Act. This is why many online poker rooms do not accept US Players, not because its illegal but because this law prohibits online casinos from performing financial transactions with American financial institutions. That means you cant fund your poker account with a credit card if you live in the USA, you have to wire cash. The bill has been challenged several times, but has yet to be overturned.
How Do Online Poker Rooms Turn A Profit?
Online poker rooms generate a profit four different ways, the Rake, Entry Fees, House Odds, and Borrowing. A rake is the name given for the % of the pot taken by the casino. Every online poker room determines their own rakeback percentage. Generally speaking people choose poker tables with the lowest rakeback. The second,Emtry Fees, are charges to entry into poker tournaments.
Third, is playing against the house – this is no different than a physical casino. Since the odds are in the casinos favor for games like blackjack the casino earns a large profit from them. Finally there is borrowing, this is very common and practiced regularly with banks. When you deposit money for online poker, the caisno will invest it in stocks, bonds, or any other HYIP at their risk. Online Casinos pay no interest on your money, making this very profitable.
Learn more about Online Poker
- Poker Bonuses
- Poker Software
- Poker Forums
- Cheating