Four years have passed since that time and what do you know, I play online poker as well as live poker a couple nights a week and even do pretty well. So what got me to take interest in poker? Right after Chris Moneymaker (Yes, that’s his real name!) won the WSOP Main Event, more and more amateur players started playing poker and taking the game more seriously, realizing anyone can learn the game and maybe earn some cash. But, learning the rules may take 5 minutes, learning and mastering the game may take a few years and this why I love poker so much.

Poker is a game of skill that involves a lot of strategy, psychology and a little bit of luck. You sit around the poker table and you play the players, not your cards. Sure, it is important to know what you hold and have a strong hand helps to win the pot but if you know your opponents, their habits, how they play then you can win the pot even with a nothing and that is what makes poker such a beautiful and interesting game.

Poker is maybe the only game where and amateur players can win a pro and not because he’s lucky (although it helps) but because he uses his wisdom and aggressiveness around the table. Me? I started to read poker books, articles, lost some money at first but at all times learned from my mistakes, played with friends as we helped one another analyze our hands and with time I got better and better at live games so I thought to play online poker as well.

After reading a few poker room reviews I’ve decided to sign up to a specific poker room and there too I first studied my opponents, how they play, I was aggressive at weak tables and I played tight at loose tables and tournaments, allowing players to “fight” one another while I sat back and played safe. At times when I felt the table was weak and the players were afraid to bet , I placed a bet to take the pot with nothing in my hands, that is what poker is all about. You have to know strategy and use it but also feel the table and your opponents and all these are reasons to love this amazing game because it has everything in it – Psychology, strategy, skill and a little bit of luck.

Don’t think it’s all about luck because it is not. You have a chance to discover an amazing game and be part of it from home playing online or with friends or strangers around real poker tables. If you learn the game, if you learn from mistakes and if you study your opponents you too will fall in love in this amazing card game and even make money, how much of it is up to you but I have started at low buy-ins and little by little as I gain experience and confidence I played for larger amounts.

Now it’s time for me to do some poker shopping and purchase myself a new poker shirt and a hat so I’ll have something new to show my friends at our next poker meeting. So, new poker gear is no problem to have, now I need to work on a strategy to take their money…

Take care and have a great poker game!

Ma says that one of the most difficult concepts to overlap from the academic world to the poker world is the concept of if something works, keep trying it again. In poker, that line of thinking could get you in a lot of trouble. You have to be able to discern when you may have gotten lucky and if that’s the case, you may not want to repeat that play again.

Ma does mention that it is difficult to separate the concept of money from the poker class. he is not allowed to advocate that people can make money from the game and potentially leave school, etc. It would be nice to learn from a poker pro how to move up in stakes games or build a bankroll but alas he is not allowed to mention anything on those subjects. It would seem to reason that anyone going to MIT would be a highly successful poker player if they were to head out on their own.

I find it very interesting that an institution like MIT is embracing a game like poker. Again, poker is a game of skill and really should be treated that way. I hope that partnerships with the academic world will help strengthen this concept. If poker is legally proven to be a game of skill and not chance, then we stand a better chance of having online poker back in the United States.

You can read the article here: MIT Course, Poker Theory

According to an article on Card Player.com it is alleged that 6 poker pros owe Full Tilt about $18 million dollars. And in a sense they owe that money to the players who still haven’t gotten their funds back from Full Tilt. According to the article, Phil Ivey, Layne Flack, Barry Greenstein, Erick Lindgren, Mike Matusow, and David Benyamine all owe differing amounts to Full Tilt.

Greenstein for his part, posted a reply on the Poker Forum 2+2. I have a feeling we may not hear from the others and frankly we don’t have to hear from them. I appreciate Barry’s willingness to come forward and discuss the issue. I do think his response lacks a little in that he mentions the US players and the money that is due to them. I think Barry should be backing and supporting all of the players as from what I understand all of the money is frozen, not just for the US based players.

The whole Full Tilt situation really strikes the nail on the fact that online poker and gambling for that matter, needs regulation. I know, the last thing we need is the government in our business but at the end of the day the only way to play is if you pay. I don’t have a problem paying taxes on my poker winnings as long as I know that the platforms I’m playing on are secure and safe. It really sucks when players are out thousands and possible hundreds of thousands of dollars because it was placed with a risky off-shore business. I know we’re at risk of the corporate fat cats running the online poker industry (MGM, Harrah’s, etc.) but sometimes the devil you know is better than the devil you don’t know.

The value of anonymity with online poker has increased what typical players consider ‘risky plays’. Players tend to make plays in online poker hands that they may not normally make in person at a poker table. Things are a little different when you’re sitting there staring at someone or staring at a computer screen. We all have our favorite poker strategy book(s) but these days those concepts are typically violated with online poker plays. Online players are generally considered to be more aggressive and also loose.

Prior to the US Government shutting down most online poker operations offering tables to players in the US there was a boon of sorts, also known as the Moneymaker Effect. Chris Moneymaker was an accountant from Tennessee who won the World Series of Poker in 2003. Moneymaker was an online qualifier through the website Poker Stars. It started the poker wave of people who found that because Poker is a game of skill, they could make money sitting at home in front of a computer screen. A few years later, the US Government took care of all of that by outlawing the processing of debit and credit cards based with banks in the United States. Essentially, online poker was choked out by the inability to deposit and withdraw funds.

The coming months and years will be telling in regards to how online poker will proceed in the future. Not only will the regulations and potential for taxing be very important but the differing of poker strategy will also be interesting. The days of Amarillo Slim and Doyle Brunson playing in back rooms are over. The online poker revolution started in 2003, now we’re just waiting for it to resume.

I think this is the perfect time to legalize online wagering. Offer secure online casinos from the legalized gambling companies based here in the United States (MGM, Sands, Wynn, etc.). Have the government or private institutions monitor and publish a security report once a quarter. The casinos can only accept Debit card transfers or Bank wires directly into customer accounts.

I also propose that the casinos take a rake or a very small portion  of the final pot. So once all the initial blackjack bets have been made (before any splits or double downs), the casino keeps 3% and then sends 1% up to the government as a Gambling tax.

Then I also say that your personal gambling winnings are subject to inclusion in  your income taxes. I think you could get around paying a lot of taxes if you could be creative and somehow work it into expenses for an LLC or other corporate structure. In fact there are arguments that exist today that Poker should be considered a game of skill and therefore requires skill to play and should be legal.

There it is folks, the simple and easy way to cure the economic needs of our country, legalized online gambling. Of course a form of it already exists today in the US stock market, buyer beware!

It might have once crossed your mind how casinos make money off poker. They take a rake from each pot, which is usually 10% with a set maximum. They don’t care who wins, which is a big plus. You have a much better chance being up against another player than the house. In tournaments, the house takes a 10% entry fee. These are the primary ways a casino makes money off a poker room. However, their ultimate goal is to get you into the casino so you play other games which have strong house odds. Even if only 20% of poker players play other games, they’re making a good profit off having the poker room. It simply drives traffic.

If you’re looking for a live poker room, you shouldn’t have much trouble finding one. You can try the big casinos in Las Vegas, Atlantic City, Lake Tahoe and Connecticut or you can try your luck, or skill, at a smaller venue. These smaller venues are often race or dog tracks with poker rooms. They’re common in Florida and West Virginia. Regardless of where you choose to play, be sure to get a player’s card. This will allow you take advantage of comps like rooms, food, shows and possibly even airfare.

Here are the best US Player Poker Rooms:

http://www.pokerlistings.com/US-poker-rooms

http://www.uspokersites.com/

http://www.pokerjunkie.com/us-poker-rooms.php

Here are the best US Player Online Casino Sites:

http://www.topusaonlinecasinos.com/

http://www.online-casinos-usa.com/

http://www.onlinecasinotopic.com/

The possibilities are endless, you could hit the casino if you have one close, you could find a recommended home game, or even maybe a local, legal card room is in your vicinity.  The best news of all is that you can find all of the information you need right here online.

If you’re looking for a local casino to the area where you live or might be visiting in the future check this out:  http://www.worldcasinodirectory.com/american-casinos.asp#CASINOLIST

In the right hand sidebar/column they have the list broken down by each individual state.  For example here is a list of casinos in New York and also the list of California casinos too.  And of course our friends at Wikipedia have a very complete list of the casinos in the usa.  These days most every casino has a poker room since poker is the hottest thing going.  If you’re looking for the top 5 live poker rooms then look no further than Cards Chat’s list.

Looking for a Home Poker Game?  There are many good resources online for you to find a safe and fun poker game.  There are websites dedicated to helping people find high quality poker games.  Often times people who have been to the games will submit their review and you can base your decision off of their reviews.

Here are a listing of the best sites to find a local home poker game:

• Home Poker Games
• Poker DIY
  
  
• Local Poker Tournaments
• Home Poker Tourney
  
  
• Home Poker
  

There you’ve got a pretty good idea of where you can find a good game should you choose.  Always keep in mind the smart thing to do is to research the places where you’re going to play, it’s always better to be safe than sorry.  The bottom line is that online poker is still illegal here in the United States and we must abide by their ridiculous laws and so in the mean time we need to find our own games.  Best of luck in the games you choose!

Now Paul still gets by at his local Indian casino, he fancies Omaha Hi-Lo.  He’ll jump in and play the occasional hand or two of 7 Card Stud.  But Paul believes, like the rest of us that we should be able to play from the comfort of our own homes.  We’re willing to pay the tax the government requires.  And you know what?  If the tax is too high, no one will play so we’ll still be able to get close to what we want to pay.  The US Senate and the President need to realize that online gambling is what the people want and it can be a great source of money for the federal government should they choose.  Online Poker and Gambling are not harmless but it’s the lesser of two evils when compared to the alcohol use and abuse in the USA.

They tax the heck out of cigarettes, why not tax online gambling and help replenish our national pocketbook?  As a country we’re getting close to accepting gambling and marijuana usage.  Both are relatively harmless opportunities in our lives right now.  If you choose to gamble away your life on the Internet then that’s your choice.  Most of us like Paul plan on making money and paying taxes.

For now until President Obama is ready to act, Paul will keep playing his 4 pm Omaha Hi-Lo game with the boys back at Meskwaki.  He knows that game will be around as long as he wants to play in it, and beyond.