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Online poker has effectively changed the face of the industry as a whole. Ever since its arrival, it has sparked both joy and controversy.
Traditionalists despised the idea because it eliminated the human factor – calling out someone’s bluff. On the other hand, techno-enthusiasts loved it because they could now partake in the game from the comfort of their own home.
Regardless of which side you’re on, you can’t deny online poker’s impact on the economy. The first online poker match to be played on real money took place on the 1st of January 1998. But it wasn’t until 2003 that people started taking online poker seriously.
From humble beginnings
After the first real money tournament in 1998, major online poker sites started organizing tournaments that would gain serious players access to real life poker tournaments.
However, the majority of people still didn’t take online poker seriously. Someone needed to prove that online players were just as good as their table-sitting counterparts.
Enter Chris Moneymaker. The now-legendary figure made headlines around the world in 2003. He won the World Series of Poker main event after qualifying as a participant from a PokerStars tournament.
This went on to create a poker boom, with the WSOP 2004 tournament featuring three times as many players as the previous year. Four of the players at the final table were qualified from an online tournament. And ever since then, online poker has only been growing.
A money-making industry
Ever since Chris Moneymaker’s historic win, more companies started to see the industry’s potential. As such, in 2004, Sportingbet acquired ParadisePoker.com for a whopping $340 million, marking the first time a public company owned an online poker room.
Then in 2005, PartyGaming went on the London Stock Exchange, with an initial market value of over $8 billion. The following year, they bought Emp… Read More
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