Being a Director of Sales of a big multinational betting company that provides digital solutions for Sports betting and gambling BetInvest LTD, apart from great responsibility, gives me the chance to travel the world and meet different people. Most of them have an idea of starting the business and getting rich quickly. What surprises me – is not that many of them act under assumption that gambling industry is more tolerant of making mistakes but how many companies in the industry are eager to exploit the newcomers’ naivety to their own advantage. In this article I would like to talk about online poker module and whether it is a good idea to include poker module as part of betting website.
The poker bubble takes roots in year 2003 when the 2003 World Series of Poker in Las Vegas was held. It was won by Chris Moneymaker, 27 years old accountant who happened to be a poker amateur. This is the man who launched the so called «Moneymaker effect». He had entered the tournament with 39 dollars and turned them into 2.5 million at the end of the tournament. The media was quick to pick up on the story of the everyday accountant and make him a “poker genius”. Until then the game did not have a good reputation at all and was even considered intimidating. No good poker modules existed before then.
Suddenly many people could relate themselves to this guy Moneymaker, they all seemed to have similar jobs and possess similar mediocre poker skills. His victory started the online “poker craze”. Big companies like PokeStars and Party Poker started to use aggressive marketing strategy to promote poker on internet and attract crowds of people. Many companies started work on poker module that can be easily installed into existing betting website.
So what is still keeping online poker afloat? Definitely its players. Poker is considered to be a game of prediction. There is a learning curve that applies to any prediction game. But the progress the person makes while learning poker is not linear. Actually, by spending just 20% of its effort, the person can achieve 80% of the skill. Mustering remaining 20% of the skill requires other 80% of effort. This is known as “Pareto principle”. Most of the players will never get above 80% of the skill level. To be considered good, the player needs to get only the basics right. As McDermott in the famous movie “Rounders” said “Listen, here’s the thing, if you can’t spot the sucker in your first half hour at the table, then you are the sucker”.