It is approximately two hundred years since poker has been introduced but the poker that is being called online poker is a recently introduced phenomenon. Though online poker is of recent origin, it has gained popularity at a very fast pace and is now played all over the world with a new perception.
Online sportsbooks were the first to be introduced in the internet and they were followed by many, one among them being online poker idn poker online . Online casinos were also introduced in the mid 90s, the same time when sportsbooks reached the internet. Microgaming, that came up in the early 90s is a good example and has now become a casino software developer.
In 1998, Planet poker entered the scene and was the first to create an online poker gambling rooms. It was the first and the last of its kind for quite long. With passage of time, many new and big poker sites reached the net carrying a maximum rate of about 3 dollars with an initial rake of five percent. The industry was recognized only in 1998 but it noteworthy that the rates have been almost the same.
In 1999, Paradise Poker was created and this has now become the leader in industry. It was around this time that Dutch Boyd created Poker Spot.
Though Poker spot is the pioneer in running poker tournaments online, they faced whole lot of problems. The group did not collect the deposits of the players from its credit card partners. The company did not remit the winnings of the players as all deposits it held, were not returned. This resulted in their fall.
The introduction of the Netellers e-cash system has reduced the repetitions of the problems encountered by the Poker spot group in other poker players. The online poker groups are provided with funds from the Neteller system. The Netellers e-cash system frees the players from the trouble of using the wire transfer or credit card to deposit money in order to enter the poker group. This has helped in the minimization of frauds and improved the credibility of the company.
In the year 2001, online poker industry welcomed the entry of the two giant firms, Party Poker and Poker Stars. Paradise was on the lead until 2003, when they were overtaken by Party Poker due to the latter?s strategic advertising. The launch of World Poker Tour along with the Party Poker Million strategies attracted a lot of people and drove the group to success.
Chris MoneyMaker also contributed a lot to the popularity and growth of online poker. He was charged with 40 dollars to enter the poker room. He won the satellite tournament conducted by the Poker stars and was qualified for the final and the main event. He won the topmost prize of 2.5 Million dollars in a game considered to be one of the biggest of the World’s Series of Poker tournaments and in which about 839 participants had contested.
Let’s start with a definition. What is gambling? Gambling is betting on something that may or may not happen in the future. When we gamble, we take a risk, choose an uncertain outcome, and bet on it. Gamblers bet on casino games, horse racing, and sports where the result can’t be predicted with certainty. Some people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a New York City airport?
How is gambling different from buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead in the long run. They may be risky but not in the same sense as gambling.
How is gambling different from buying insurance? When we buy insurance, we are betting on something that may or may not happen in the future. We don’t want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. When we buy homeowner’s insurance, for example, we are betting our house will burn down and the insurance company is betting it won’t. (Of course we hope we won’t win this bet.) This isn’t gambling because the risk can be calculated. The insurance company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we will pay accordingly.
People have gambled since ancient times. However, society never approved of it because it was labeled an attempt to get money without working for it. Society believed that hard work should pave the way to financial success. It wasn’t until the late 1960s that states (except for Nevada which had legalized all forms of gambling earlier) started to run lotteries to raise money for worthwhile causes.
So why do we gamble even though we are unlikely to win in the long run? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some people gamble for entertainment or enjoyment, such as a night out with friends at the casino or a bingo game for a charitable organization or a lottery ticket. Some think they can beat the odds and make a living out of gambling. There are people who gamble because they simply love the challenge. They look at gambling as a game of skill or problem solving and they are sure they can win. Some like the environment or the thrill of a possible big win, or the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. There are no clocks in a casino; we lose track of time; we forget all our troubles. It’s like a therapy session! If we are timid, we can go to a casino and boldly take chances.