Where did poker originate?

Where did poker originate?

We are searching data for your request:

Forums and discussions:
Manuals and reference books:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

The game we know as poker is believed to have ancient roots that go back nearly 1,000 years, crossing several continents and cultures. Some historians say poker’s origins can be traced to a domino-card game played by a 10th-century Chinese emperor; others claim it is a descendant of the Persian card game “As Nas,” which dates back to the 16th century. Poker’s closest European predecessor was Poque, which caught on in France in the 17th century. Poque and its German equivalent, pochen, were both based on the 16th-century Spanish game primero, which featured three cards dealt to each player and bluffing (or betting high on poor cards) as a key part of the game. French colonists brought Poque to their settlements in North America, including New Orleans and the surrounding area, which became part of the United States thanks to the Louisiana Purchase of 1803. English-speaking settlers in the region Anglicized Poque to poker and adopted features of the modern game, including five cards for each player and (by 1834) a 52-card deck.

From there, poker spread up the Mississippi River and throughout the country, thanks in part to its popularity among crews of riverboats transporting goods via that great waterway. Soldiers in both the North and South played poker during the Civil War, and it became a staple of Wild West saloons in frontier settlements in the 1870s and 1880s. In 1871 the game was introduced to Europe after Queen Victoria heard the U.S. minister to Great Britain explaining the game to members of her court and asked him for the rules. More general acceptance of poker in Europe occurred several decades later, largely thanks to the influence of American soldiers during World War I. Over time, different games have dominated among poker players, including five-card draw, seven-card stud and—most recently—Texas Hold’em, which began its rise to dominance in the 1970s when it became the featured game in the World Series of Poker, the game’s leading annual competition.

The History of USA Poker Chips

All poker chips have existed since the game has been around though they were quite different in the earlier days. In the 1800s gambling and poker especially gained much popularity in the US and especially in the west states of the country. With this popularity came the need of keeping the track of the wins and losses during the game.

In the earlier days all the players had different currencies and some used no paper currency at all. Many players used gold nuggets, dust or any other type of expensive mineral, gems or ores which they had been able to find while working in the mines. Some players even put their cattle on stake while other traded for expensive food items. However, since the game had been so popular it was necessary to have a standard currency.

History of Poker

The origin of Poker - arguably the most influential card game of all time - is actually quite unclear. Most scholars agree that the origin of modern Poker is several different card games, which evolved into what we now recognize as Poker. One of the most popular theories is that Poker developed from the French game of ‘Poque’, but that might be overly simplifying matters.

L ong before the invention of Internet casinos, Germans were playing ‘pochspiel’, a game that dates back at least 500 years and is still played today. Although both Poque and Pochspiel are quite different from modern Poker, there are also many similarities that can’t be entirely overlooked. If you consider all of the modern forms of poker, which include everything from Texas Holdem to 7-Card Stud and Five Card Draw, it is easy to believe that card games evolve continuously. Just look at a common Internet poker guide.

History of Modern Poker

When it comes to poker in America, we know more about the history and there is less reason to speculate. It’s more or less common knowledge that poker was played on steamboats trafficking the Mississippi River. As early as 1829, an English actor by the name of Joseph Crowell described a game that was played in New Orleans, in which players were betting on who held the best hand. This form of poker, however, was played with a 20-card deck.

Thanks to the Mississippi steamboats, the game was able to spread rapidly across other states. At the time, gambling was a popular and common pastime in the United States, and settlers moving west were quick to adopt the game. After a while, the 20-card deck was replaced with the English 52-card deck, which contained suits, and thus the ‘flush’ was born.

Poker Arrives in Las Vegas

In the early 1910s, gambling was made illegal in the state of Nevada, but the state found it nigh on impossible to control the incredibly popular card game that poker had become. Poker was recognized as a skill game by the attorney general, although an exception was made for Stud poker, which was still legally regarded as a game of chance.

Once gambling was legalized in Nevada the rest is, as they say, history. Poker moved in to the Casinos and could continue to evolve and be enjoyed by the masses. Tournament poker, which is the most popular form of the game today and generates massive amounts of gambling articles worldwide, is another story. It became increasingly popular after 1970, when the first World Series of Poker was played.

Four of Clubs: “The Devil’s Bedpost”. For some reason this is considered to be an unlucky card and it is said that the player who turns it up is “always considered as cut off from all chances of winning the game”.

History of Poker Cards

The essential element of poker is, of course, the playing card. But what of the history of playing cards? Where did they originate and how long have they been around? See more on the history of poker cards here &rarr

This American cartoon about two men in a poker club was published in the Columbia Spectator between 1880 and 1882.

Above: cartoon published in the Columbia Spectator between 1880 and 1882. courtesy Matt Probert.

Last Updated June 23, 2019 at 12:19pm

The World of Playing Cards

Playing cards have been with us since the 14th century, when they first became a part of popular culture. They come in all shapes and sizes.

Coming of age

From the middle of the 19th century Poker experienced rapid changes and innovations as it became more widespread through the upheavals of the Civil War. Stud, or ‘stud-horse’ Poker, a cowboy invention said to have been introduced around Ohio, Indiana, and Illinois, first appears in The American Hoyle of 1864. More contentious was the introduction of Jack Pots, which originally meant that you were not allowed to open unless you held a pair of Jacks or better, and were obliged to open if you did, though the second half of this rule was subsequently abandoned. (At a table of five, at least one player will normally be dealt Jacks or better.) This device was intended to impose discipline on the game by driving out wild players who would bet on anything, while encouraging cautious players who did have something not to be frightened out of the pot by openers who didn’t. Blackridge opposed Jack Pots, pithily declaring it ‘equivalent to a lottery except that all players must buy tickets’. He added that the rule reportedly originated at Toledo and was common in the west, rarer in the east, and absent form the more conservative south. In 1897 Foster complained that ‘The jack-pot, with its accompanying small-limit game, has completely killed bluffing - that pride and joy of the old-timer. ’ Nevertheless, he adds, self-contradictorily, ‘The two great steps in the history and progress of Poker have undoubtedly been the introduction of the draw to improve the hand, and the invention of the jack-pot as a cure for cautiousness. It has come to stay.’

Draw, Stud, and Jack Pots, all appear in the 1875 edition of The American Hoyle, together with Whiskey Poker, a form of Commerce based on Poker combinations, and Mistigris, which was Poker with a 53rd card ‘wild’, namely ‘the blank card accompanying every pack’. (This borrowed from a variety of Bouillotte in which the Jack of clubs appears under that name as a wild card.) By this time, too, the full range of Poker combinations was widely recognized, though not universally so. The 1875 edition notes that four of a kind is the best hand ‘when straights are not played’, and repeats it as late as the 1887 edition.

It is curious how unstraightforward was the introduction of the straight. The 1864 edition gives the hands as: one pair, two pairs, straight sequence or rotation, triplets, flush, full house, fours. It adds ‘When a straight and a flush come together in one hand, it outranks a full’ - not fours, be it noted, in defiance of the mathematics, and probably for the following reason. Without straights and straight flushes, the highest possible hand is four Aces (or four Kings and an Ace kicker), which is not just unbeatable but cannot even be tied. Traditionalists clinging to the unbeatable four Aces of Old Poker were opposed by innovationists, who found the game more interesting with straights. In this light, the acceptance of straights ranked in the wrong order may be seen as a temporary compromise. As late as 1892, John Keller defended his view that the straight ‘should be allowed. My authority for this is the best usage of today, and my justification is the undeniable merit of the straight as a Poker hand.’ He clinches this with the moral argument that has prevailed ever since - namely, that it is unethical and ungentlemanly to bet on such a sure thing as four Aces. If the best hand is a royal flush, there is always the outside chance that it may be tied. However minute that measure of doubt, it has to be morally superior to betting on a certainty.

Under the aegis of the United States Printing Company and, subsequently, the New York Sun, a great deal of research was conducted into the origins and varieties of Poker with a view to drawing up a set of definitive rules, which first appeared in 1904. In 1905 R F Foster published his book Practical Poker, summarizing the fruits of all this research plus additional material gleaned from the Frederick Jessel collection of card-game literature housed in the Bodleian Library, Oxford. Amongst other things, it would appear from this that Dealer’s Choice began attaining popularity about 1900, according to Dowling. Subsequent developments can be traced through successive editions of Hoyles published by the United States Playing Card Company.

Following Draw and Stud, a third major structural division of the Poker game, represented today by Texas Hold ’em, is that of varieties involving one or more communal cards. The earliest of these appears in the 1926 edition under the name Spit in the Ocean. Here only four cards each are dealt, but the turn-up and the three other cards of the same rank are all wild. Deuces wild first appears in the 1919 edition.

High-Low Poker, in which the pot is divided equally between the highest and the lowest hands, is attested as early as 1903 (according to Morehead and Mott-Smith). It first appears in the 1926 edition and achieved its greatest popularity during the ‘thirties and ‘forties, subsequently giving rise to Lowball, in which only the lowest hand wins.

The rise of modern tournament play dates from the World Series of Poker started in 1970.

Etymology of ‘Two Cents’

Claim: “Let me put in my two cents” gained its linguistic origin thanks to the game of poker.

Origins: Untangling how, when and why we came to say “Here’s my two cents” when offering an opinion is a bit of a task in that it has to be done in three parts. First, our language contains many specific terms for goods or services that cost two cents (or twopenny, two-pence or tuppence), some of them quite old. Second, over time two cent or twopenny also became descriptors of items or concepts not worth much, if anything. Finally, that modifier became attached to the practice of offering unsolicited advice.

Over the course of our recorded history, many goods or services have borne a set price of two of a civilization’s smallest unit of currency, such as twopenny ale, twopenny post, even twopenny rope (an archaic idiom for a flop house). Sometimes that amount was even the sum paid by someone on a particularly memorable occasion, such as “The widow’s mite” of (41-44) fame wherein the widow donated two mites (the least valuable coin there was) to the temple, yet by doing so gave all she had, in contrast with far more prosperous donors who proffered only a small portion of their wealth.

The use of two cent and twopenny as dismissive modifiers indicating items under discussion are of incredibly small value, rather than are priced that actual amount, dates to 1560 (e.g. “To make the people thinke that we reade nothyng els but ij. penny doctoures, as ye cal them” [1560], “Even in a two-peny matter” [1643], “He cares not two-pence for the land-tax bill” [1744], “This woman, with her twopenny gentility” [1848], “The date for Bissolo’s death, for which I don’t care just now a tuppenny damn” [1898]).

“Here’s my two cents” in the sense of airing an unsolicited opinion dates only to the and likely began in the

U.S. It appears to be an extension of the usage noted above, in that the “two cents” is employed as a way of saying “Here’s my little bit of nothing.”

As to how this particular idiom came to be, no one knows. Some have guessed that since at one time it cost two cents to mail a letter, one incurred an actual cost of two cents to give someone advice or let them know your opinion. Others have postulated that the ante in a poker game was two cents, therefore one would “ante in” (enter a conversation) by throwing in one’s metaphorical two cents. While the gambling explanation is attractive, nothing supports it.

But why do we say “Here’s my two cents on the matter” instead of “Here’s what I think”? Why do we need to couch such an addition to a conversation in linguistic smoke?

We do so in an effort to lessen the impact of a social trespass. By identifying one’s take on a matter as being worth no more than a pittance, some of the social crime of butting in unasked is undone — the analysis or advice is offered in a self-deprecatory “Well, this likely isn’t worth all that much, but here it is anyway” fashion. The one who couldn’t keep his thoughts to himself, while still inserting himself presumptuously into something that wasn’t his business, is at least being humble about it.

A Brief History of Poker Chips

Although the first recorded casino was legalized in Venice in 1626 and gambling can be traced as far back as ancient civilizations of Mesopotamia and early China the Casino Chip or Cheque is a relative newcomer on the scene.

Prior to the late 19th-century player used almost any variety of small valuable objects imaginable as wagers in their games. Early gamblers often gambled using small pieces of gold or silver, gold nuggets or coins or paper money. These early games had no standardization so saloons and gambling houses in an attempt to bring standardization to their games began to create their own standardized substitute this is the birth of what would eventually become the casino chip that we know today. Soon it was not uncommon for upscale gambling houses and saloon to have specially made tokens made of ivory or bone while others made do with gambling tokens made of paper and shellac. One of the downsides to these proto-chips is that they were easy to forge so gambling house started put markings, or brands, on these early chips while they searched for a more secure substitute.

This all changed in the 1880’s when companies started to produce chips of uniform size made of clay using a compression mold technique. These chips, made of 100% clay, are the direct ancestors of the casino chips that are used today. The downside to using these 100% clay chips was that they were very fragile and broke easily when handled roughly by the players. This was an issue that casinos would struggle with up unit the early 1950's when the companies that produced them started to add other materials to the clay to increase the durability of the chips. That was when the companies started to add earthen materials such as sand, chalk and clay material similar to the material found in cat litter that the modern clay composite chip that we know today was truly born. The process to make these modern clay composite chips is a trade secret and each manufacturer uses their own recipe of ingredients when making their chips.

The edge spots on the chips are also made of the same material as the rest of the chip, they are not painted on. To achieve the effect of the edge spot that area of clay is removed and then it is replaced with clay of a different color before the clay blocks are cut into the shape of chips. Any printed graphic or inlay will be put on at this time and covered with a thin layer of plastic each chip will then receive a mid-inlay, if desired, and the chip is then placed in a special compression mold that bakes and compresses the chip into the proper size, weight and permanently adhering the inlay to the chip.

In the mid-1980’s the Ceramic casino chip was introduced as an alternative to the traditional clay composite casino chip. These Ceramic chips have become popular because they allow lettering and graphics on the entire surface of the chip instead of just on the inlay.

In less than 150 years casino chips have come from the crude easy to forge chip made of makeshift materials to the modern chips we know today that boast enhanced security features such as radio frequency identification (RFID), UV markings only visible under a black light and other security features. Only the future knows what is in store for the casino chip of tomorrow.

History of Playing Cards

P laying Cards are believed to have originated in China and then spread to India and Persia. From Persia they are believed to have spread to Egypt during the era of Mamluk control, and from there into Europe through both the Italian and Iberian peninsulas during the second half of the 14th century. Thus, European playing cards appear to have an Islamic derivation. Some of the earliest surviving packs were hand painted works of art which were expensive and affordable only by wealthy patrons such as dukes or emperors.

But you can play card games with any old pack so as demand increased new, cheaper methods of production were discovered so that playing cards became available for everyone.

The history of playing cards in popular art is fascinating and has a long tradition. This section is an online tutorial covering the early history of playing cards. You will learn about the following topics:

Above: detail from “La Sala de Las Batallas” mural painting in El Escorial palace (Madrid) produced by a team of Italian artists, late 16th century (click to zoom).

At the end there will be a quiz to consolidate your knowledge.

Above: the Tarocchi Players of Casa Borromeo, Milan 15th C.

Above: British Library manuscript Add MS 12228, date 1352-1362. This is the earliest known depiction of card play, a miniature in a 14th-century manuscript of Meliadus or Guiron le Courtois (part of the romance also known as Palamedes also known as Le Roman du Roy Meliadus de Lennoys), by Hélie de Boron. The manuscript was written with areas left blank for bas-de-page miniatures, like this one, to be added. Hundreds were added to this manuscript, at various times and by various artists, this one probably late 14th century. The present image shows King Meliadus and his followers amusing themselves while in captivity. Players are shown holding square-cornered cards fanned in their hands, hidden from view, and playing cards onto the table. They are playing a 4-handed trick-taking game, following suit, and piling tricks cross-wise for ease of counting. The deck uses the Latin suit-signs (coins and staves are shown), and the game is being played for money or counters, shown on the table. Card playing is not mentioned in the text but there is mention of the imprisoned men entertaining themselves. Apparently the artist simply imagined the scene as involving the newly introduced and highly portable game of cards. Source: British Library Add MS 12228 ►

Pratesi, Franco: on the history of playing cards and card games, Online here ►

Last Updated November 02, 2018 at 10:17am

The World of Playing Cards

Playing cards have been with us since the 14th century, when they first became a part of popular culture. They come in all shapes and sizes.

The Evolution of Joker

Joker, the extra card found in every modern card deck today is believed to be dating back to the 1860s. It is believed that the card was invented by American players who decided to introduce a trump card while changing the rules of the game. The joker has been known by several different names in the past centuries, like the jolly joker or the best bower.

Did you know that?

A good joker in your hand is what for online poker a good bonus is. You can use it at the time you decide to get the most of it, a good option is using a bonus code, though there are other available as well.

Let me introduce to you: The Joker!

It was around 1863 that jokers were first included in card packs in America. However, they reached quite late in England and other European countries. In earlier eastern card decks there were no Jokers or any other cards equivalent to it in the Indian Ganjifa cards or the Chinese Dominoes. In several Japanese decks, an extra card can be found with a pattern of a demon but these are quite different than Jokers.

The origin of the name

According to various scholars, the name Joker evolved from the German name Juker which was used for the Euchre game in Germany. The joker was first mentioned in the 1886 book, Euchre: How to Play it. The Railway Euchre game which is described in the book uses an extra card, which is the joker.

Another theory is that the name could have been derived from Poker, where it was mentioned first in the 1875 book American Hoyle. Both Euchre and poker spread in America at the same time, so it is still not clear for which game the Joker was first used. In the 1880s the Joker was first represented as a court jester or a clown. In a Tarot deck, the fool in the Trumps is quite similar to the Joker. Both of these cards have quite a lot in common, in terms of appearance as well as their function in a game. In a tarot deck the Fool is often used as the highest value trump. In other cases the Fool can be played at any time that a player wants but cannot win. The Fool had been a part of the tarot deck since 1400s but the Joker has only been recently introduced. So even though the image of modern day joker might have been inspired from the Fool, their origins are totally different. In a French 52 card deck, the Joker has only been added quite recently.

In several decks, two different Jokers are used to correspond to the Fool trump card in a Tarot deck. The black Joker corresponds to the Fool card of the Tarot deck and the Red Joker corresponds to the Magician which is also known as the Juggler. The Juggler is quite similar to the Fool in a Tarot deck.

At online casinos Australia, you can play all of the newest games from Microgaming, the industry leader in online casino game development. The newest pokies games offer outstanding new features, including stacked wilds and expanding wilds, multi-level bonus features, and hundreds of ways to win.

History of Online Gambling

In 1994, when the internet was completely commercialized, the Caribbean nation of Barbuda and Antigua was the first to regulate online gambling. They granted licenses to companies who wished to offer gambling services via internet casinos online, when it passed the Free Trade and Processing Act.

So when did online gambling start? In 1996, the first-ever online casino – InterCasino – was established, marking the official start of what would become one of the most successful online entertainment forms. It accepted its first real money wager that year, and has since paid out in excess of $3 billion in winnings.

Using Cryptologic, a secure financial transaction software provider, it developed several methods to ensure safe and secure online transactions.

1996 was also the year in which the Mohawk Territory Kahnawake Gaming Commission was established to license and regulate poker rooms and online casinos. And a new Swedish developer called NetEnt launched and created some of the most innovative games at the time, offering online players an extensive range of top performing content including progressive jackpots, slots, live dealer games, branded games and a broad variety of table & card games. Along with the Isle of Man-based Microgaming, which was established around the same time, NetEnt remains one of the giants of the industry to this day.

By 1997 gambling websites offering services to online players increased from just 15 in 1996 to well over 200. A report published in 1998 revealed that online gambling revenues had already reached $834 million. Several poker rooms opened at the time, and Planet Poker introduced the first online version of Texas Hold’em. Multi-player gaming soon followed in 1999, which enabled online players to chat, interact and gamble in an interactive online environment.

Just a few years later, in 2006, the US unexpectedly banned all online gambling services, a move which had an enormous impact on mobile as well as other online gambling services. The US’s draconian attitude towards online gambling has made Canada’s liberal approach all the more remarkable, and profitable. Not only is it home to the world-renowned Kahnawake Gaming Commission, which licenses online casinos and poker sites, it is now also a hub for a number of online gambling operators and software providers, as well as one of the leading gambling regions in the world.

In German-speaking lands, the Latin suits were modified in the 15th century. Around 1450, the Swiss-Germans used play card suits to represent roses, bells, acorns, and shields. However, the Germans changed these to hearts, bells, acorns, and leaves. Despite the changes, however, the card suits looked similar to each other.

The French suits that now typically appear in the United States a variation of the Germanic suits. They keep the hearts, but instead of bells, they used carreaux, which are tiles or diamonds. Of interest, there was a crescent suit instead of diamonds before the French settled on diamonds. The acorns became trèfles, standing for clovers or clubs. Instead of leaves, they had piques for pikes or spades.

In one legend, the French suits represent the four classes. Spades represent nobility, hearts stand for the clergy, diamonds represent the vassals or merchants, and clubs are peasants. In the German tradition, bells (which became the French diamonds) were the nobility, and leaves (which became the French clubs) were the merchant middle class.

A Brief History of Gambling

Gambling has taken place, in some form or other, for hundreds if not thousands of years, and is inextricably linked to the history of humanity.

From ancient China where indications of rudimentary games of chance were discovered on tiles, to Egypt where the oldest known dice were excavated, to scenes on Greek and Roman pottery which indicate that betting on animal fights was common and animals would be bred for that sole purpose, humans love to gamble and do so at every opportunity.

Around 200 BC ‘white pigeon ticket’ was played in gambling houses of China with the permission of the province governor, who’d receive a percentage of the profits, and the winnings were often used to fund state works Even Harvard and Yale were both initially funded using lottery money, which they continue to use today.

It is believed that playing cards first appeared in China in the 9th century, although the games played are unknown, and the cards bear little resemblance to those used today. The cards were often decorated with human forms, but as games spread throughout Europe, the Kings and Queens which we are more familiar with began to appear.

As gambling spread and evolved throughout society it became more organized and regulated.

The first casinos or gambling houses appeared in Italy in the 17th century The Ridotto was established in Venice in 1638 to provide a controlled gambling environment, and casinos started to appear throughout continental Europe in the 19th century.

Games like Roulette and Vingt-et-un arrived in the US with early settlers from France, and steam boats on the Mississippi became the venue of gambling for wealthy farmers and traders a version of poker, having originated in 17th century Persia, was being played in New Orleans in 1829.

The mechanization of gambling meant that winnings could then be regulated more accurately. The first gambling machine was developed by Sittman and Pitt in New York, and around the same time the Liberty Bell machine was invented by Charles Fey in San Francisco. The first video slot was invented in 1976 which paved the way for the online video slots that followed.

Online Gambling

In 1994, Antigua and Barbuda passed the Free Trade & Processing Act, allowing licenses to be granted to organizations applying to open online casinos. Before online casinos, the first fully functional gambling software was developed by Microgaming (one of the largest casino and slot game developers in the world today) an Isle of Man-based software company. This was secured with software developed by CryptoLogic, an online security software company. Safe transactions became viable and led to the first online casinos in 1994.

1996 saw the establishment of the Kahnawake Gaming Commission, which regulated online gaming activity from the Mohawk Territory of Kahnawake and issues gaming licenses to many of the world’s online casinos and poker rooms. This is an attempt to keep the operations of licensed online gambling organizations fair and transparent.

Soon after in 1999, the Internet Gambling Prohibition Act was introduced, meaning a company could not offer any online gambling product to any U.S citizen. This did not pass. Multiplayer online gambling was also introduced in 1999.

The first live dealer casinos appeared in 2003 courtesy of Playtech, which created a hybrid of ‘brick and mortar casinos’ and the virtual world.

Mobile Gambling

Technological advances have attracted a new generation of players. Evidence suggests that internet users are using their desktops less and are more inclined to use handheld devices. The same can be said of those who enjoy online gambling and enjoy playing their favorite games whilst on the move. The top gambling sites have recognized this shift in usage and now there are many more opportunities for mobile online gambling.

Mobile devices are preferred by players for their convenience, players have immediate access to betting options, and online gambling and social networks are on the same mobile platforms, as operators recognize the growing interaction between the social network and gambling.

The Future — Gambling on the Blockchain

Blockchain technology and the emergence of cryptocurrencies is disrupting the gambling industry in ways we couldn’t have imagined even a couple of years ago. Using cryptocurrencies for gambling is becoming widely popular for casinos and can be used either as the main payment system, or as an alternative to fiat-based payment systems. The blockchain provides transaction transparency, reduced house edge and lowers transaction costs. The Blockchain also allows the user to gamble anonymously, almost instantaneous withdrawal and deposit times, and there is no need to hand over copies of documents or even create an account.

Blockchain technology brings this same characteristic to gambling, allowing anyone to be a member of the casino. Although some Bitcoin casinos allow users to fund the casinos and profit from a share of the house edge, these concepts have been taken to the next level by crypto platforms like Ethereum, where projects have created a system where token holders receive automatic dividends from the profits generated by the platform. Others are developing next-generation, blockchain-based gaming ecosystems that will enable casino operators to design and implement gambling applications with zero-house edge, close-to-zero transaction fees, and provably fair random numbers.

Developments in this space are likely to grow rapidly, with teams of developers introducing new opportunities for gambling utilizing blockchain technology.

Edgefund is one such concept Edgefund will create a shared bankroll that will allow licensed games operators to build games on the Edgefund platform that offer very large payouts. Game operators will be able to provide fixed odds games at zero financial risk to themselves i.e. a guaranteed profit for game operators for every bet that they take. In order to do this, Edgefund will buy the risk from the game operators at the mathematically provable lowest possible cost that protects the EdgeFund centralized bankroll. This ensures that EdgeFund cannot be beaten by a competing smart contract and cannot be bankrupted itself by game operators.

If you found this article interesting, please hold down the clap button below. Follow me on Medium to see more content like this.

I am currently working on EdgeFund, an open-source platform which offers a decentralized shared bankroll on the Blockchain. To learn more about EdgeFund, please visit our website. Join our Telegram group to chat to the team and follow us on Twitter!

Watch the video: A Brief History of Poker - From Its Origins to the Online Poker of Today (December 2022).

Video, Sitemap-Video, Sitemap-Videos