It’s impossible to talk about online gambling and not to think about online poker, as it’s one of the most well-known types of online gambling, if not the most.
The technological advance that has enhanced gambling, in general, didn’t leave poker out, and today we can play with any person in another part of the world through the internet. This technological advance happened, in some cases, faster than legislation was created though, so we do need to pay attention to the existing rules for online poker in the different European countries.
Most European countries do have legalized online Poker though, but even so, we are better off checking the local laws in order to avoid issues. If in the majority of the cases playing online poker is legal, and there are highly reputable sites that make monetary transactions safe, others are that make money transactions a little trickier.
The high amounts of money involved in online poker attract less honest people willing to take our money away, so playing on a trusted site is an important requirement.
A trusted site will remove worries of losing our money without being at the table, it’s a warranty that we are safe, and governments are the ones awarding licenses to online poker sites in order for us to understand which the legal and trusted sites are.
There are countries in Europe that don’t allow online poker though, but those are the exceptions. We have the example of Germany that only allows online gambling, including poker, through sites controlled by the state, and this measure makes it almost impossible to play.
As we have seen in previous articles, the European Union has a treaty allowing online gambling, so readjustments are currently happening in order to make the laws of each country compatible with the EU directives, what will mean a more liberal market in the more restricted countries.
If we look at the online gambling and betting market in Europe we can see that it’s almost half of the global market. Factors like internet penetration and innovative operators are in the base of this leadership, but also the regulatory block existing in the US and Asia.
This leadership is not a solid one though, as economic protectionism might lead to a market fragmentation with the obvious limitations for operators and users. Meanwhile, Europe’s Gaming Revenue will probably rise from €16.5 billion in 2015 to close to 25€ billion in 2020, being 25% of this share from the responsibility of online poker.
Poker is a global pastime, and when we have a company like PokerStars that generates revenues to superior to €1 billion, we understand how profitable the market can be. It’s a simple formula that allows Pokerstars and other online poker companies to provide reliable poker games and tournaments, and charging for that.
Innovation and promotion of tournaments are also on the base of this growth, and some of us might recall an online poker tournament that had 150.000 players, an incredible number and also a world record.
Online poker is basically a gambling community that keeps on growing because competing with friends is fun, poker is entertaining, and also because everyone loves to win.