Real-money online poker was first introduced in 1998. It has since grown from a tiny niche venture into a multi-billion dollar, worldwide business. And let me guess – now you want a slice of the pie?
Well before you jump in, its pays to know what – and who – is out there already. Because if you’re not careful, you could find your hard-earned stack of cash swallowed up by sharks....
The online poker explosion
Many people credit Chris Moneymaker with being the catalyst for the online poker explosion. He took a $40 online satellite entry to the main event of the World Series of Poker, which he won for $2.5 million.
His win prompted players around the world to try and emulate his success. This led to the online poker world undergoing a huge and rapid global expansion.
Starting out on an adventure
Of course, it’s had its ups and downs, but online poker is still going strong. While the overall landscape of online poker has changed unimaginably over the last decade, there is still plenty of opportunity for dedicated players.
Here I’m going to look at what to expect if you’re just starting up on your online poker adventure.
Rakeback and bonuses
Like any investment, before you set up an account with an online poker site you should make sure you’re getting the best deal. With such strong competition in the online poker market these days, most sites offer start-up bonuses and rakeback offers.
A start-up bonus is where a site will match your initial deposit, with different sites offering different maximums and different criteria to release the bonus.
Rakeback is where the poker sites refund a percentage of the rake you pay to them, their equivalent to a loyalty scheme. Rakeback can be highly lucrative to high-volume players, so make sure you get the best deal.
It’s important to remember that these offers are only available to new customers. Do your research before you decide where to play.
Professionals
Ten years ago there were few online poker professionals. Due to the increased exposure of online poker and the speed at which information spreads over the internet, there are now thousands of players making their living from online poker.
You can almost guarantee that every table you sit on will have a number of solid, winning players.
This can be daunting for the beginner, but it’s important to remember that they started from nothing and so can you. For now though, it’s important for you to be able to spot these players and avoid them where possible.
The idea is to maximise your profits against the weaker players, while minimising your losses against the better players.
Use the note-taking function to mark players that you see regularly, especially if they seem to consistently do well. You can also use the search function to see if players are playing on more than one table (multi-tabling). Most people that are multi-tabling are doing so because they are confident that their game is good enough to still win while playing many tables at a time.
You will inevitably end up in spots where you can’t avoid playing with these “sharks”. If you find yourself coming into direct competition with players that you think are above your level then go back to basics. Play only the strongest hands against them and try to play according to your position as much as possible.
Standards are improving
Not only has the number of serious players increased, but the overall standard of play has improved. The rapid spread of information over the internet allows high level concepts to be filtered down to the lower levels quicker than ever before.
This means that strategies that worked ten years ago may now be considered outdated at best. Although reading older strategy books and articles may give you solid fundamentals, it’s important to keep up to date with newer strategies.
Standards are improving all the time so it’s vital that you constantly keep on top of your game. Adapt quicker than your opponents and you will always be one step ahead.
Software
Increasing standards in software have led to much more stable, secure and slick online poker sites for you to play on. Alongside this increase in quality of the sites themselves has been the growth of software that can help you with your game.
There are applications to help you learn odds, select the correct tables, coach you in strategy, track your hands and many more. You can be sure that your opponents will be making use of these aids, so don’t be left behind. Use every tool you can to keep up.
Be realistic but ambitious
It’s no longer an easy task to make money through online poker. As thousands of players have proven, however, it’s not impossible. Many people worldwide make a living, or a second income, from playing online poker.
You need to be realistic about your own skill level, play where you’re comfortable and constantly strive to improve.
If you do this, your goal of making money from online poker is easily within your grasp.
