Remember the good old days when you could log in and play poker for real money right here in the USA? These were heady times for quite a few of us and especially so for a group of teenagers that realized what an opportunity to get rich it represented for anyone willing to learn the game, play it smart and not be timid about taking huge risks. You can read their story in the new book available here at: http://www.amazon.com/Ship-It-Holla-Ballas-19-Year-Old/dp/1250006651
Well hang on awhile folks; those of us who missed out might get a second chance. Several states including New Jersey and Nevada have passed laws making internet poker legal. So far the infrastructure hasn’t been set up for the games to begin so we will have to wait. Nevada hopes to get agreements with other states so their residents will be allowed to play on Nevada poker sites. This is a multi-Billion dollar potential industry so as soon as the necessary palm greasing is finished I believe this is going to happen.
Now you might be curious why I’m writing about poker on an investing site. Potential gain is the game. Where else could you risk a few bucks and end up with a fortune? Of course most of us are just going to lose those few bucks. Some of us are going to go on and lose more than just a few bucks. A few of us are going to end up with everybody else’s money. Hmm, sounds like investing in the stock market to me. The people who learn the game very well and learn how to manage their risk and learn immense patience and self control will be the winners.
There are indications that the feds might even change their interpretation of the Wire Act so that internet poker would be considered legal. If you are mildly interested you might join the PPA (Poker Players Alliance) http://theppa.org/ to keep up with developments. Meanwhile you might want to sharpen your skills on some of the play money online poker sites. Keep in mind people play a whole lot differently with play money. I found what I consider a good site at Hog Wild Poker. http://www.hogwildpokerleagues.com/ You can even play for real cash prizes here.
Just remember you gotta know when to fold em. You really ought to let me win too.