The first poker boom was like a gold rush. The world saw Chris Moneymaker get rich quick, learned they satellite in to a big tournament like he did, and it was off to the races for players and operators alike. But after several years of prosperity, a combination of several factors saw poker slide as a popular vertical.

Now, we’re in the second boom, thanks to a pandemic, a lack of live sports, and millions of people looking for something to do. Online poker rooms are seeing high volumes once again, and industry analysts are split on if this new wave of players will be more sustainable than the first.

To answer that question, we need to look at the reasons the first boom ended, the psychology of the poker player, recreational or not, and innovations that could make the vertical more sustainable long term.

Why did the first poker boom end?