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Launched in August 2001, the number of players attracted to PartyPoker.com grew rapidly on the back of increasing broadband penetration, increasing popularity of gambling and the marketing efforts of online gaming companies.

Television coverage of poker tournaments, has also generated significant interest in poker and online poker sites.

While the absolute number of players on the site fell following the enactment of the Unlawful Internet Gambling Enforcement Act in the US, PartyPoker.com remains one of the world's largest poker rooms.

How online poker works

The mechanics are quite simple: the Group essentially acts as the host for customers wanting to play poker against each other and as such we simply charge players a fee, or 'rake', for every hand of real money poker they play (where the pot is greater than $1 and where the hand reaches the 'flop'). Players can compete with one another either through online tournaments or on individual tables, known as 'ring games'.

Ring games

Ring games have traditionally been the most popular format, generating between 70% and 80% of the Group's poker revenues. In 2006, ring games represented 76% of Continuing gross poker revenues. Players have a wide variety of different types of poker games they can play including Texas Hold 'em (the most popular game representing 90% of total poker revenues in 2006) as well as Omaha High and 7-card stud. Each is a variation on the core game of poker with players competing against each other for the total amount wagered for any particular hand (the 'pot'), minus the rake. The amount of rake varies depending on the pot size, but is subject to a cap with a maximum of $5 for high limit tables.

Tournaments

Tournament play differs from ring games in that rather than playing with real money, players receive chips in a tournament which they then use to play against each other. With only a set number of chips available, players are progressively knocked out until the winning player emerges with all of the chips. The winning player, and usually those in second and third places, receive a prize, normally in cash. Revenue varies depending on the size of the 'buy-in' and the number of players participating. The Group offers a wide variety of different tournaments with different prize levels for single-table tournaments as well as multi-table tournaments.

 

Links

• PartyPoker.com