Looking To Profit From Online Poker Sites? Start Your Own!

Looking To Profit From Online Poker Sites? Start Your Own!

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The poker world has gone through a tremendous and unexpected boom since Chris Moneymaker won the World Series of Poker in 2003. To truly put this into perspective, you need only look at the number of players to compete in the WSOP Main Event in 2003 compared to the field in 2007. The 2003 WSOP main event had a total of 839 total entrants. This pales in comparison to the staggering 6358 entrants in 2007. This is over a 657% increase in just four years. What does this have to do with online poker rooms? Nearly everything. The big story to come out of the 2003 main event wasn't just that an unknown amateur had won the world championship of poker, but how he had won the $2.5 million dollar first prize from a $39 qualifying satellite on the site PokerStars.

The idea of taking a $39 investment and turning it into millions of dollars attracted many players to test their luck with online poker. The online poker market reaches worldwide across both large and small countries. Any person with an internet connection has instant access to play a seemingly unlimited number of cash games and tournaments for both cash rewards or play money. With this wide a base of international players, there is a serious ability to make major profits with your new company.

Online poker rooms make their money by charging players something known as "rake." Rake is an amount of money collected by the poker room for allowing a poker player to participate in both their cash games and tournaments. All major sites collect this fee and its amount depends on the level of buy-in for a tournament and the limit of the cash game. A simple example of this is a small buy-in sit and go which would be advertised as a $10+$1 buy-in event. The $10 of this amount is included in the total prize pool for the tournament and the added dollar is taken in by the poker site for hosting the event. If a site could gain a large enough amount of players to play these real money games, the potential for profit with the right software on this rake could be nearly unlimited. The Sunday Million which is held on PokerStars every Sunday afternoon which has a typical buy-in of $200+$15, draws in nearly 6000 players each week. This amounts to around a $90,000 weekly profit to the site for hosting a 10 hour tournament. That amount is about equal to second place prize in that weekly tournament. Figure that PokerStars has tournaments running day and night at all hours, the amount of money they are making is incredible.

In cash games, the rake is calculated as a certain percentage of the pot up to a certain dollar maximum. This is perhaps even more profitable to a site because the amount of cash games constantly running are considerable. If you can find a way to stay below what other sites are charging, you could have a major edge in the market with this aspect alone.

As with nearly any business, gaining exposure for your online poker room should be your first step. Getting your name out into the market and having it talked about on and outside of different poker communities should be priority number one. Having your site reviewed by a major poker coverage company and rating site is an important start. If people respect the opinions of the various online poker review sites, it will give you a level of trust with future customers. To gain people outside of internet communities, many companies use television ads during poker broadcasts to gain exposure. During the new episodes of World Series of Poker you'll see a large number of different companies advertising.

Increasing your customer base is another crucial aspect of this business. It is a must that you offer both real and play money games on your site. Just because a player only uses your site for play money games doesn't mean they won't become profitable for you in the future. Many of these players are just trying to learn the games and might deposit and graduate to real money games with time. By having these players sign up with their contact information you have a good chance to market to them through e-mails and it allows you to keep them informed about the site and various incentives you are providing.

If you promote good bonus opportunities as well as discounted merchandise opportunities for these players, they will be even more likely to advance to real money games. By sacrificing small expenses here and there you gain the ability to profit greatly in the long run. The key here is offering convenient incentives that few or no others can give to these players. These small differences can really determine if they will continue to play on or recommend their friends to your site. Offering freerolls is something used by the online sites to increase play money users and give the play money players incentives to use their software. These freerolls generally have small rewards but they are enough to spark interest in many play money players.

The online poker market has grown considerably and will continue to grow immensely in the future. The major players have already made out considerably with the poker boom and the market is open enough for others to gain entry. With the correct strategy, the potential for profit in this market is nearly unlimited. By following many of the same steps taken by the premier companies, any person with the proper starting capital and the right people could make a very profitable decision by entering this market. As with all gambling, taking the house advantage is usually the best bet.