Home Decorating blogs

Before we dive into the intricacies of blackjack and poker comps, I thought it might be a good idea to take a quick crash course on comp programs.

Thanks to the corporate conglomeration that has dominated the casino industry in recent years, most gamblers have two major comp programs to choose from – M Life and Total Rewards.

The M Life program is operated by MGM Resorts International, while Total Rewards is a product of Caesars Entertainment.

If you enjoy visiting sunny Las Vegas for a stroll along the Strip, chances are good you’ll wind up in a casino owned by one of these behemoths. And I’m not talking about the MGM Grand or Caesars Palace flagship properties, as the two companies own dozens of casinos between them.

Check out the list below for a full accounting of MGM-owned properties on the Strip where the M Life card is used to track and distribute comps:

ARIA Las Vegas
Bellagio Las Vegas
Excalibur Hotel and Casino
Luxor Las Vegas
Mandalay Bay Resort and Casino
MGM Grand Las Vegas
The Mirage Las Vegas
Monte Carlo Resort and Casino
New York New York Hotel and Casino
And below, you’ll find the Caesars-owned casinos on the Strip where the Total Rewards card is accepted:

Bally’s Las Vegas
Caesars Palace
The Cromwell Las Vegas
Flamingo Las Vegas
Harrah’s Las Vegas
The LINQ Las Vegas
Paris Las Vegas
Planet Hollywood Las Vegas
Rio All Suite Hotel & Casino
Expanding the scope outside of Sin City, these are the MGM-brand casinos worldwide where M Life membership is accepted:

Beau Rivage – (Biloxi, Mississippi)
Borgata – (Atlantic City, New Jersey)
The Water Club – (Atlantic City, New Jersey)
Gold Strike Casino Resort – (Tunica Resorts, Mississippi)
Grand Victoria – (Elgin, Illinois)
MGM Grand Detroit – (Detroit, Michigan)
MGM National Harbor – (National Harbor, Maryland)
MGM Springfield – (Springfield, Massachusetts)
MGM Grand Sanya – (Sanya, Hainan, China)
MGM Macau – (Macau, China)
Bellagio Shanghai – (Shanghai, China)
And finally, take a look below for the full list of Caesars-owned casinos worldwide where Total Rewards membership is accepted:

Bally’s Atlantic City – (Atlantic City, NJ)
Caesars Atlantic City – (Atlantic City, NJ)
Caesars Windsor – (Windsor, Ontario, CA)
Harrah’s Ak-Chin Casino – (Phoenix, AZ)
Harrah’s Atlantic City – (Atlantic City, NJ)
Harrah’s Cherokee – (Cherokee, NC)
Harrah’s Cherokee Valley River – (Cherokee, NC)
Harrah’s Council Bluffs – (Council Bluffs, IA)
Harrah’s Gulf Coast – (Biloxi, MS)
Harrah’s Joliet – (Joliet, IL)
Harrah’s Lake Tahoe – (Lake Tahoe, NV)
Harrah’s Laughlin – (Laughlin, NV)
Harrah’s Louisiana Downs – (Bossier City, LA)
Harrah’s Metropolis – (Metropolis, IL)
Harrah’s New Orleans – (New Orleans, LA)
Harrah’s North Kansas City – (North Kansas City, MO)
Harrah’s Philadelphia – (Philadelphia, PA)
Harrah’s Reno – (Reno, NV)
Harrah’s Resort Southern California – (Valley Center, CA)
Harvey’s Lake Tahoe – (Lake Tahoe, NV)
Horseshoe Casino Baltimore – (Baltimore, MD)
Horseshoe Bossier City – (Bossier City, LA)
Horseshoe Council Bluffs – (Council Bluffs, IA)
Horseshoe Hammond – (Hammond, IN)
Horseshoe Casino Tunica – (Tunica, MS)
Horseshoe Southern Indiana – (Elizabeth, IN)
Tunica Roadhouse – (Tunica, MS)
Along with these titans of the gambling industry, you’ll also come across a few smaller casino chains like Boyd Gaming or Stations. And of course, the over 400 tribal casinos operated on reservation land nationwide have their own in-house players club cards.

These smaller casinos tend to model their comp system after the big boys, however, so I’ll stick with M Life and Total Rewards going forward for the sake of clarity.

For both of these programs, you’ll also have two main forms of comp credits to work with – base points and tier points.

A base point equates to $0.01, so you’ll need to score 100 of them to add $1 to your comp account. Base points effectively serve as cash in an affiliated casino, so you can use your accumulated points to purchase that morning latte or some headphones from the gift shop.

A tier point doesn’t have cash value per se, but these points are how you climb through the ranks of either M Life or Total Rewards. You can visit the overview pages for each program that I linked to above to learn about the various tiers used in each. But put simply, accumulating tier points grants you access to a higher tier in the program, which in turn unlocks additional perks. Think priority access at the cashier’s cage line, free valet and parking, tickets to the in-house show, and even free rooms.

Now that you know who is handling your comps and where the players club cards in your wallet are accepted, let’s see exactly how they work for both blackjack and poker.

Casino regulars love nothing more than winning big and beating the house – but scoring comps comes in at a close second.

Short for “complimentary,” comps are the freebies doled out by every casino to help customers alleviate recent losses. Sure, you might have just blown through a few hundred bucks at the blackjack table, but when you’re handed a free buffet voucher, the loss stings just a little bit less.

Casinos use a carefully designed system to distribute comps, but even veteran players can have trouble understanding exactly how that system works. And that’s definitely by design.

Most players simply assume that their players club card allows their play to be tracked, allowing the casino to assign points over time. And while that’s a rough outline of how it all goes down, the actual calculations are far more complicated.

The situation gets even messier when you factor in different game types. Slot players earn comps at a different rate than table game fans, for example, and folks who prefer poker have an entirely different set of rules to work with. Knowing your way around this maze of math formulas is the best way to ensure that your play produces the maximum amount of comp points.

To that end, I’ve put this page together to explain exactly how comp programs differ for two of the most popular games on the floor – blackjack and poker.

So, you’ve sidled up to a standard blackjack table, slid your M Life or Total Rewards card to the dealer, and watched them scan it through to the system. Now what?

Well, that’s a mystery many blackjack enthusiasts are still trying to crack.

The Total Rewards website spells things out quite clearly for slots and video poker:
“You will earn 1 Reward Credit for each $5 you play on reel slot machines and $10 for video poker.”
But when you scroll down in search of table games like blackjack, the numbers aren’t nearly as clear – and in fact, Total Rewards doesn’t provide any concrete numbers at all:
“For table play, be sure to hand your Total Rewards card to the dealer or pit supervisor as soon as you sit down to play and ask to be rated.
Reward Credits are earned based on length of play, average bet and type of game.”
As you can see, Caesars Entertainment properties use a proprietary formula – based on how long you play, your average wager amount, and the type of table game played – to determine how many comp points you’ll earn. Obviously, this leaves quite a bit of wiggle room for the casino, while players never really know for sure how their blackjack session is being parlayed into points.

It’s even murkier over on the M Life website, which only provides the following information for table game players:
“Members must present their M Life Rewards Card to a table games pit supervisor prior to table games play.
M Life Rewards members must satisfy minimum betting requirements to be rated for table games.
Please see a table games pit supervisor at participating M Life Rewards destinations for such assistance.”
In this case, playing at an MGM Resorts property leaves you at the whim of a table games pit boss, along with an unknown minimum betting requirement.

Thankfully, the internet levels the playing field tremendously, and you’ll find plenty of blackjack forums and travel sites where players can discuss their own comp experiences. By perusing a few of these platforms, I’ve been able to come up with the following figures.

Whether you’re using the M Life or Total Rewards card, you’ll need to bet an average of $25 per hand just to get your play “rated” by the casino. For most recreational gamblers who bet the minimum of $5, or $10 when they’re feeling lucky, that threshold alone prices them out of the comp program.

But let’s say you pony up the dough and bet a green $25 chip on each hand (on average). Now, the next factor to consider is your hands per hour rate. Most industry estimates peg the average blackjack table at 80 hands per hour, so I’ll go with that.

If you’re betting $25 per hand and playing 80 hands per hour, you’ll have $2,000 in total bets on the table over that span.

The next calculation the casinos use involves their theoretical hold rate, or the number of dollars they can expect to win based on the game’s house edge. Depending on your skill level, blackjack offers a house edge between 0.50% (for basic strategy experts) and 1.5% (for folks playing by “gut instinct” alone). Knowing this, I’ll use a flat 1% house edge to make the math easier.

Having bet $2,000 in total over the hour, while facing a house edge of 1%, the casino’s theoretical hold stands at $20.

From there, you can expect to receive comp points equal to 10% of the hold, which comes to just $2 in this example.

REMEMBER
That was for one hour of play only, while most of us tend to stick around the tables for a few hours at a time. But for a general rule of thumb, assume you’re earning about $1 in comp points for every $1,000 you put at risk in a 60-minute period.

The big problem most blackjack players encounter is improper ratings by the pit boss. It’s their job to closely observe the action, entering your typical betting unit and your time at the table into the system. But if the pit boss sees you starting out at $10 bets to warm up, before you start firing the green chips, you might not ever get rated at all.

On the other hand, you might get your rating set at $25 bets from the outset, only to up the ante when you’re on a heater. At this point, you could be betting $50 or $100 per hand, all while the system continues to track you as a $25 bettor.

For this reason, blackjack players who value comp points should always take measures to clarify their play to the pit boss. That’s their job, after all, so you’re not bothering anybody by asking for a quick chat. Just let them know your name, that you’ve had your card scanned, and your plan for the game.

Something like “Hi there, I’m so-and-so, and I’ll be betting $25 and up for the next hour or two” should be sufficient. And if you decide to increase the stakes midway through the session, just give the dealer a glance and let them know to alert the pit boss about the new wager.

This can all seem like a chore at first, especially for casual gamblers, but it’s the only ironclad way to ensure that your blackjack play is properly rated.

I wrote this post for a simple reason – I got sick of teaching my friends how to pick a good online poker tournament, so I wrote something I could copy and paste as an email response.

The goal of this page is to help you find the right kind of online poker tournament for you to enter, based on a few different factors. When we say “perfect” tournament, we mean the tourney that’s the most fun and potentially the most profitable that you can afford or have a shot at winning with your skill level.

How to Pick a Poker Tournament
Determining which tournament to play means first figuring out a few things about you and the kind of tournaments you want to play. I think there are basically three kinds of online poker players. Regardless of the specifics of your poker game, you’re probably one of these three broad categories:

The Amateur
This is anyone who plays primarily for fun. Being an amateur doesn’t mean you lose a lot or are a bad player – it means your purpose is more casual. The Amateur probably doesn’t have a tournament bankroll or worry about bankroll management. Amateurs look for tournaments that offer a low fixed buy-in, are exciting to play, and give them a shot at a decent cash prize.

The Cash Game Expert
Players who make a significant amount of money playing ring games of online poker fall under this category. This person might play an occasional tournament, but mostly as a break in the routine. A Cash Game Expert will play a tourney if it gives him a decent shot at a huge cash prize, or if he finds value in the low skill set of a particular tournament’s player field.

The Tournament Junkie
Some of these players are professionals, others are amateurs, but they all have one thing in common. They complete regularly in online poker tournaments. Tournaments make up the majority of their poker play. They keep a tournament bankroll separate from their regular cash game bankroll. In short, tourneys are their wheelhouse.

Five Steps to Picking the Perfect Poker Tournament
Follow these five steps and you’ll have at least one perfect option for your particular style of poker play.

Step One: Figure out what field size you’re interested in.
Do you want to play against dozens of other players, or thousands of them? The name of the game in a tournament is for good players to take money from less-skilled players. That means good players have a higher expectation when they’re playing against fish. That means (generally speaking) a skilled player enjoys a much higher ROI in large tournament fields.

Why would anyone play anything but a massive tournament, if smaller tournaments mean more skilled opponents? Smaller fields mean less variance. Playing against large fields means that you’re more likely to lose every tournament you enter than when you enter tourneys with smaller fields. You earn more consistent winnings if you can compete consistently against smaller (and more skilled) fields of competitors. It’s tournament poker’s most annoying Catch-22.

Step Two: Determine your ideal buy-in.
Amateur players that don’t worry too much about their bankroll should pick a tourney based on the amount they’re comfortable losing in proportion to their skill level. In other words, if you enter a small pool tourney featuring players who are mostly better than you, you should be prepared to lose the entire buy-in. At that point, the tournament’s 100% fun, exactly what amateurs are in it for. All players can follow this rule, since the key to it is that you’re choosing tourneys based on both your skill level and your financial comfort level. It means you won’t be distracted worrying about money, even when it’s down to you vs. the final table.

Step Three: Decide how difficult of a field you want to compete against.
We established in Step Two that it is generally tougher to win tournaments with larger buy-ins, because those tournaments include mostly highly-skilled players. However, this rule has a huge exception.

Tourneys that get a lot of publicity but also happen to have a large buy-in tend to feature people who are playing for the prestige. The best example is the World Series of Poker, where plenty of total amateurs that have no business competing in poker’s biggest event cough up ten grand so they can play in the same tournament as the big boys. Of course, not all examples are this extreme. You’ll often find people playing way out of their league at hefty buy-in online tournaments. It’s all about doing your research.

Step Four: Find your ideal blind structure.
A tourney’s “blind structure” is the number of chips you start with relative to the tourney’s blinds. This structure also lets you know how quickly those blinds increase over time. Amateur players in it mostly for fun and excitement should look for events where they start with a large number of chips and the blinds move up very slowly. This will get them the most bang for their buck. This shallow structure reduces the impact of player skill, at least for a few rounds.

Skilled players need to consider what the strongest part of their poker game is, then pick a structure that matches their abilities. I’d suggest that ring game players choose deep stack tourneys so that the tournament looks and acts like the games they know and love. If you’re used to playing in tournaments, you might like the thrill of the shallow stack setup, and you might be the type of player who makes their best moves in tight game situations.

Step Five: Shop for the best prize structure.
This one is really all about personal preference.

I suggest that you concern yourself mainly with the cut taken by the house. Small stakes online tournaments tend to pay the house 10%. If you’re playing in a tournament with a buy-in above $100, you’ll pay slightly less of a cut to the house. Be careful about entering the super-tiny pool low stakes tournaments online with a rake of 20% or more. When you’re playing with a shallow structure and a huge rake, you’re basically playing the toughest possible online tournament format.

Conclusion
In case you haven’t gotten the point by now – you need to tailor your online poker tourney choice to the specifics of your poker game. It starts with an honest assessment of your abilities and your likes and dislikes when it comes to online poker. If you combine that accurate look at your poker skill with a logical choice of poker tournament, you’ll be giving yourself the best chance of being a tournament winner.

For many years, the economy in Australia consisted of products made by the people who lived here. Like many countries, goods and services have slowly been moving off shore due to cheaper employment and raw material costs in other countries. Today the market in Australia is flooded with products that come from all over the world. This has been great in some ways (cheap Japanese cars and out-of-season fruit, to name but a few) and the cheaper prices have made some purchases a lot easier on the pocket. In other ways it has been detrimental with local businesses being closed and a significant portion of manufacturing being moved overseas. We hear a lot about supporting local but what are the reasons for buying Australian-made compared to a (sometimes cheaper) import?
As a shopper, you might like to think of your purchases as a vote for what you consider appropriate behavior from the store you are buying from. If you think it’s reprehensible to test on animals (let’s face it, it is) then you wouldn’t buy from a store that doesn’t have a strong stance on this subject. If more people feel like you do and stop buying these types of products, the industry will listen and your ‘vote’ will help create a greener, cleaner, friendlier shopping environment – as you can see from the number of green and organic products beginning to surface today – a good sign consumers are moving in a positive direction!

After you’ve set your own moral compass for shopping you should consider adding supporting local business onto your list of requirements. If local businesses flourish, so will the local economy. Yes, buying local can cost a few extra dollars in some cases, but often the extra investment can purchase a product that’s made out of higher quality materials that will last a lot longer than their cheaper counterpart.

You may also want to consider supporting local when it comes to fruit and vegetable shopping. This will mean only buying seasonal fruit when it’s actually in season. Also, think of the cost and environmental impact of importing consumables like fruit and vegetables. If you’re buying off a local farmer, your goods have used less fuel to reach you and will often be much fresher.

Another green shopping method is buying items that are handmade. They can be more labour-intensive than mass-produced imports, but this often means they will be better quality, lasting you longer and lengthening the time before replacement is needed. This effectively reduces the cost in the long run anyway. For example, a craftsperson spends time honing their skills to make a handmade product. The process starts from ground zero and is completed with patience and practice. Only the best materials are used and a learned tradesperson has the know-how from years of experience, to create a long-wearing work of art.

Finally, try to source natural and organic products where you can. Shop for clothes that are made out of natural fabrics and beauty products that are organic and cruelty-free. Your purchasing decision will encourage slow-fashion companies that use natural, non-polluting fibers for manufacturing their clothing items. In making these choices, you can diminish the poor-quality clothes (or throwaway fashion) that are made out of synthetic fibers, which are bad for the environment and your health.

The same goes for beauty products. There are many local companies that manufacture organic, eco-friendly, and cruelty-free products, which are much better than the ones that are mass-produced and contain a wide range of chemical and toxic components. Organic products are great for your skin and body, are entirely safe to use from all points of view, and are not tested on animals, which means that they don’t have to suffer in the name of biped beauty. With this information in mind, we encourage you to go forth young grasshopper and become a sustainable shopper!

Are you considering term life insurance to protect mortgage loan you have on your home?

Many Americans hope for the day they own their own home. If just may be the single biggest investment of your life. But, it also depends on a steady income to pay your mortgage each month. If something happens to one, or to both income-earners in your family, it may be difficult to pay your mortgage. How would your family get by?

Buying a level term life insurance policy can provide your family with the money they need to make their mortgage payments if you’re no longer alive to support them.

Get a Free Quote for Mortgage Life Insurance

If you die, your family might not be able to pay the mortgage. With a level term life insurance policy, the death benefit would provide the money necessary for your family to make the mortgage payments, and stay in their home.

There is mortgage protection insurance available, but many people choose term life insurance instead.

Why Should You Choose Term Life Insurance Instead of Mortgage Insurance?

A common approach to providing money to pay off a mortgage in if you die is to buy term life insurance. Term insurance offers you much lower premiums, but the amount of life insurance protection doesn’t decrease over time, as it usually does with mortgage protection insurance. That’s a big benefit for your family.

Which Type of Term Life Insurance to Choose?

The least expensive type of term insurance is decreasing term life insurance. The rates remain the same over time, but the coverage amount decreases in line with your outstanding mortgage. If you only want protection for your mortgage, then decreasing term may be your best option.

Another option is level term life insurance. With level term your rates are guaranteed to remain the same over the policy term, and your death benefit remains the same, so your family has more proceeds available than just being able to pay off your mortgage.

Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we’ll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.

Everyone has their favorite casino games and everyone wants a chance to win some money while playing these games. Some people are more interested in playing as long as possible than having the best chance to win on any given trip.

Video poker offers some of the best chances to extend your bankroll at the same time as having a chance to land a big win. The secret is finding a machine that offers a high percentage return to the player and learning to play using the best possible strategy.

Every game requires a different strategy, but there is a correct way to play every hand of video poker. Even in a situation that loses in the long run, there is a way to play that loses the least amount of money.

Jacks or Better and Deuces Wild
In addition to learning the best strategy you have to be able to find machines that offer the best payouts. I know I mentioned this already, but if you can’t find a machine it doesn’t matter how good it pays or how well you know the strategy.

For example, there are a few video poker machines that pay back over 100% with perfect strategy but they are almost impossible to find. This post concentrates on a couple popular video poker variations that are fairly easy to find, Jacks or Better and Deuces Wild.

You can find many different pay tables with some offering better payback percentages than others. Here are the pay tables that you need to find to have the best chance to win while playing video poker. (There are a few better pay tables available for Deuces Wild, but this is by far the most common “good” pay table you will find.)

The best Jacks or Better pay table is often called a 9 / 6 which stands for the pay back for a full house and a flush. The return is over 99.5% with perfect strategy on a 9 / 6 machine. Here is the complete pay table.

800 Royal Flush
50 Straight Flush
25 Four of a Kind
9 Full House
6 Flush
4 Straight
3 Three of a Kind
2 Two Pair
Pair of Jacks or Better
The most common favorable Deuces Wild pay table is called a “not so ugly ducks” machine. You may see this referred to as NSUD. The pay back percentage with perfect strategy is over 99.7%. Here is the complete NSUD pay table.

800 Natural Royal Flush
200 Four Deuces
25 Wild Royal Flush
16 Five of a Kind
10 Straight Flush
4 Four of a Kind
4 Full House
3 Flush
2 Straight
Three of a Kind
The next step after finding the best machines is using the best strategy. I suggest picking up one of the strategy cards that are about the size of a credit card and using it while playing. This way you can always see the best play.

Comps and Player’s Clubs
When you play the machines listed above giving the house less than a half percent edge you can play longer and keep playing long enough to give yourself the best chance at winning a top payout by hitting a natural royal flush.

You also should always combine your video poker play with as many comps as possible. Most casinos have a player’s club that you can join that rewards you for your play. You may earn cash back, free hotel stays, free meals or many other types of benefits.

Even if your rewards don’t include any actual cash, they are still worth something. If you get a free meal that would have cost you $20, it’s the same as winning an extra $20 because it is money you didn’t have to spend.

Most casinos don’t pay back enough through their player’s clubs to let you consistently play with an advantage against them, but you may be able to play a break even game in the long run.

The majority of players don’t play correct strategy so the casinos take their money quicker. Sometimes player’s club benefits are determined based on everyone’s play so if you play perfect strategy you may be able to gain a small edge with your benefits.

Either way, if you always play using the best strategy and take advantage of the player’s club benefits you are doing everything you can to reduce the advantage the house has.

Video Poker Tournaments
Another area that can offer extended playing time on a set bankroll and / or a chance to play with a small edge over the house is playing in video poker tournaments.

A video poker tournament is a contest where the players play video poker for a set period of time. The players with the highest balance at the end of the pre-set time either moves to the next round of play or wins the prizes.

You may be able to find free video poker tournaments, but most of them have an entry fee.

You may be wondering how you could play with an advantage over the house in a video poker tournament. Here is an example.

Many tournaments have a minimum guaranteed prize pool and sometimes there aren’t enough entrants to cover the entire amount. This is called an overlay. If the guaranteed prizes total $1,000 and there is only $900 in entry fees, there is a $100 overlay. This creates a profitable situation for the entrants. On average, each entrant will win a percentage of the overlay based on how many entrants there are. In real life only the players who finish in the money enjoy the overlay, but if you put yourself in enough situations with an overlay you will come out ahead in the long run (Assuming you play at an average or above average level. This isn’t difficult if you use basic strategy.).

Conclusion
You can use video poker to extend your casino play and combine it with player’s club benefits to give yourself the best chance to win. Always play on the best machines, sign up for the player’s club and use the best strategy.

Running, whether it be a 5k with the family, a 10k for an extra challenge, or a marathon for the elite runners, can be a very exciting and memorable experience. Running is a very personal sport to lots of people, as it can be great exercise and can make you look and feel very refreshed. Tons of awards are given out to winners at races each year. For people organizing these racing events, finding customized and personal running gear can be difficult, as well as finding unique prizes for running champions. When orchestrating a race, you want to have a memorable competition. Medals and unique prizes can help to make the race more exciting. Participants can keep prizes as souvenirs, and remember the experience better because of a keepsake.
The most important souvenir a competitor can take home is a winning medal. Those are worn with pride, and showed to family members and friends. They are often hung on walls, or shown off where they can be seen. Of course, medals need to be personalized, unique, and specific. You cannot award a running champion with a medal that doesn’t recognize what it’s for. It is often a perfect idea to find a company that will provide you with customized prizes for winners. Often, you can ask for customized medals that include the date, the name of the race, and the name of the company sponsoring and orchestrating the event. That way, when people proudly show their winning medal to others, the people who made the event happen will receive the credit and publicity they deserve.

In addition to medals, running apparel and gear can be a great way to make the race more memorable. Unlike medals, gear is commonly worn and would be used often. Passing out swag, such as customized shirts, jackets, hats, and bags can be a great way to add to the excitement of the race. Races with their own gear are viewed as more unique, as they have customized logos and attractive designs. Shirts can be given out to families, and jackets can be sold at the finish line. Hats can be passed out before the race to keep the sun out of the athlete’s eyes. And, of course, bags can be kept forever and used for multiple occasions. Having the name and date of your race on these items can help to increase publicity and help the runners remember what a successful and memorable race it was. Customizing these mementos can help to define a great race, and will definitely help a race to be more exciting and enjoyable.

It’s strange for an old-school guy like me to think that a virtual currency is being used to play poker.

I’m used to using what I’d consider traditional payment methods to fund my own action – cash, credit cards, and eWallets. A few months ago, I couldn’t have told you what BitCoin is if you’d sat down and patiently explained it to me for an hour first.

BitCoin poker is, really, a thing. A few poker rooms and other gambling sites are now accepting BitCoin as a payment method.

So what is it? And how is it being used to fund online poker accounts?

What Is BitCoin?
Bitcoin is a virtual currency invented in the year 2008 by a person going by the pseudonym “Satoshi Nakamoto.” The first mention of the currency was in a document sent to a cryptography mailing list made up of just a few people. Not much is known about the person (or people) behind the pseudonym, and they left the project altogether in 2010.

It’s interesting that the project was first mentioned among a small group of cryptographers – BitCoin was invented to exist without the need for a financial middle man. Taking banks and fragile world governments out of the equation produces a more stable and equitable currency, and it means that BTC (the currency’s acronym) are immune from seizure or asset freezing. Or so the theory goes.

So what is a BitCoin? You can’t hold one in your hand, in the traditional sense. It exists in the same way that an email exists – stored in a digital cloud. One important thing to note, for those of us used to fiat money, there is no FDIC or other insurance for your BTC.

Why Use BitCoin?
Here are some popular reasons suggested by blogs and message board posts:

BTC is crypto-currency, which means using it is completely private and anonymous.
Yes, transactions are recorded in a public log, for accountability purposes, but names of people involved in transactions are kept secret, hidden behind a generic wallet ID. There’s a dark side to this – goods can be bought or sold online and authorities can’t easily trace the people involved. That means lots of people are participating in illicit activity (see the story of The Silk Road for a perfect example) using this currency.

BTC allows you total control of your money.
Its value can’t be manipulated by any outside entity. Essentially, using BTC turns you into your own bank. The currency’s lack of physical production costs and non-existent need for storage makes it even easier to handle at the end-user level.

Big companies are bringing it into the mainstream.
BTC wasn’t well known until 2011, when the mainstream press got word of its early and rabid adoption by the Technorati. Now, thousands of businesses all over the world accept it as a mainstream payment method, including some surprisingly big names. You can buy your next Dell laptop with BTC, or shop for a cheaper alternative at Overstock.com. Cities saturated with tech geeks now have ATMs where you can exchange cash for BTC, and the other way around.

How Does BitCoin Poker Work?
The reason BitCoin struck me as so strange initially was simple – I am used to traditional (known as “fiat”) currency. So is everyone reading this – it’s what we’re used to, so any alternative feels a little strange.

The first thing a poker player who wants to use BTC needs to do is exchange their native currency for their new virtual currency.

The popular method of purchasing BitCoin is to deal with an exchange or brokerage. Exchanges are places where buyers and sellers are matched based on their bid criteria, while brokerages hoard large collections of BTC that they sell on-demand at a variable rate.

Exchanges and brokerages are pretty much identical for the end-user. It literally takes a minute or two to complete the transaction.

The BTC are then transferred to you through your unique Bitcoin wallet ID. Think of it as a hyper-focused email address for virtual currency. What’s neat about that is you can send money to anyone in the world using BTC, the same way you can send an email across the globe in a second.

Your wallet ID (BTC address) will be a randomized string of letters and numbers, anywhere from 27–34 characters long. That wallet ID is also the place buyers will send cash – which makes the whole email address analogy easier to understand. BitCoins can be sent or received from anywhere, or even sold among friends or in person.

Now that you’ve got your currency in your virtual wallet, it’s time to transfer it to the poker room of your choice. After confirming that the room you want to play at accepts BitCoin, simply send the appropriate amount to their wallet ID. It takes anywhere from a few minutes to a few hours for the BTC to appear in the receiving account.

As an added bonus for poker players, transferring with BTC is totally free, thanks to the virtual nature of the currency. It costs nothing to send and receive virtual money, so you shouldn’t expect any additional transfer fees from your poker room’s cashier department.