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Poker is riding a wave of popularity thanks to major tours and televised games keeping it in the mainstream. Those who want to try poker by gambling online before heading to the casino will find some benefits to this strategy. Here’s a look at some of the advantages of playing poker online versus in a casino.
1. Learning the ropes – Many new players are a bit uneasy about jumping into a live poker game at a casino with a table full of what they may perceive as real poker sharks. Playing online offers a chance to cut through some of those fears. Players can jump in low stakes games for pennies (or even play for free) and get a grasp of the game before moving up in stakes as they feel more comfortable and confident.
2. Easy access – Who likes to wait? A trip to the local casino may require a wait before being seated at a table. When playing online, there is almost always a table available for any bankroll. Joining the action is as simple as a mouse click. Not waiting also means no major gambling temptations like that nearby craps or blackjack table. Save those dollars for poker, where there is some real skill involved. Play your cards right and you may walk away a winner.
3. Tournament time – For players who enjoy tournaments more than cash games, playing online is a delight. Most sites feature constant tournament action with buy-ins of every size, from only a dollar or two up to thousands. Even lower buy-in events offer a chance at a nice score. Some sites also offer major tournament series with some added incentive to take on a big event with a nice payday.
4. No time crunch – Even an average multi-table tournament online may only take a few hours to play. Don’t have that much time? Sit and go tournaments allow you to play a single table of six or nine players or even heads-up. Some tournaments may only feature two or three tables. There are numerous options to suit a player’s mood or preferences.
5. Games offered – While the vast majority of poker games offered at casinos and online tend to be No Limit Texas Hold’em, playing online offers plenty of others. Maybe you’d rather play Omaha or Seven Card Stud. Those options are regularly available, as well as many others. Players also can choose limit, pot limit, and no-limit variants as well as games with a high/low split. Some sites even offer more games like Badugi or Razz. Players looking to try something new have a chance to learn the games at lower stakes.
6. No real table required – One of the great things about playing online is that you can play anywhere. Got some free time while away on business? Pull out that laptop or mobile device and log in for some action. There’s no need for a casino — simply an Internet connection.
7. No smoking, no problems – OK, so this really depends if you smoke or where you’re playing. But beyond smoking, online players don’t have to worry about noisy slot machines, slow cocktail service, or an unruly drunk at the table. Players may be able to chat by typing on screen, but if someone is annoying it’s easy to hit the mute button. And with no dealers at the tables, there are no worries of a misdeal.
8. Few tells – A tell is a physical movement or verbal cue that gives away the strength of a player’s hand. Good players can pick up on these and use them to their advantage. While there are certain online tells poker players can pick up on, for the most part players don’t have to worry too much about giving off tells to opponents.
9. Money management – Players who have booked a trip to a casino may feel more of a need or urge to hit the tables. Despite some losing sessions, it may be hard to get away from that urge. Players at home can easily log off and find something else to do after a losing session. Stepping away from the action may be a bit easier away from the flashing lights and colored chips.
10. Lower rake – Players more accustomed to playing in a casino may notice that the rake, the amount taken by the house for each hand or the fee for playing a tournament, is traditionally lower. Players looking to win consistently not only have to overcome the other players at the table, but the rake going to the house. With lower rake online, players have a better chance to profit.
Whatever your skill level or bankroll, online poker can be a great way to work on your skills, learn the game, have some fun, and hopefully make a few bucks.
The stock market, for all of its seeming mystery, is more of an emotional barometer for the rich than a reflection of material production. Abstracted from the lived experiences of those it exploits, it reflects the jubilation and depression of the wealthy. On Monday, the Dow dropped 1,600 points the largest point decline in one day in history. The historic stock market dip was primarily caused by the news that wages had improved slightly for workers. You would think that rising wages would be something they investors would celebrate, justifying their long-time trickle-down promises. Instead, they panicked clutching their pocketbooks. Why? Because the capitalists know the logic of the game: suppress wages, make profit. Despite the claims of wonks and centrists in the capitalist’s casino, when we win, they lose.
In one day, all of the Dow’s gains from 2018 disappeared. The NASDAQ did not fare much better. The VIX rate, which monitors market volatility, jumped 17 points. For comparison, the VIX rate only jumped 10 points after the Brexit shock. It is unclear whether or not the drop will reverberate into other markets, but the negative reaction of the market to slightly improved conditions for workers is worrying enough.
One of the largest fears of investors is that increased wages mean that the Federal Reserve will likely raise the rates it charges banks for loans. This crash is an excellent example of the fact that the American economic system celebrates when workers suffer and convulses when workers win gains.
The report from the Bureau of Labor Statistics that sparked the crisis showed a meager improvement for workers averaging around .09 cents an hour. The pessimism of the market in reaction to this news exposes the rot in our system: wage gains for workers are seen as a bad sign for the economy. Despite the altruistic claims of Democrats who line their pockets with corporate money, Wall Street will always react badly to increased conditions for the poor, unless there is an opportunity to profit from them in some way.
The “lender of last resort,” the Federal Reserve, is much more interested in reducing the rate of inflation than increasing the share of wealth enjoyed by workers. Rather than encourage policies from major financial institutions that would benefit the vast majority of Americans, our government has allowed the financial institutions to make a market out of poverty, trading the large sums on the growing debt of the working class. In our immoral system, the degradation of the worker is seen as a sign of a healthy economy, while benefits for the working class as are seen as a detriment.
The fundamental contradiction of the neoliberal era is the rate of increase in productivity, which has exploded, while compensation for the productivity has remained stagnant. According to the Economic Policy Institute, productivity has grown 5.9 times faster than wages. People are working more and earning less, but profits aren’t disappearing. Instead, the concentration of wealth at the top has exploded. The extra money has fueled a jubilant financial market that is further abstracted from the lives of most people. This status quo is threatened by any material gains for the working class. The pages of the NYT and the Wall Street Journal are littered with screeds against universal healthcare and minimum wage increases. A less desperate population won’t toil away into the new drudgery of contract work.
In addition to poor wages and conditions, there has been a massive accumulation by a few companies into new markets; the Uberization of food, laundry, and delivery just to name a few. While these companies capture huge parts of the market, more Americans need multiple jobs to survive and are forced into contract work. Americans are entering the “gig economy” to pay off medical, educational, and credit debt, creations of the financial class.
No longer confined to normal business hours, we are free to toil all the time. No longer confined to an office we can work wherever we chose. The desperation of workers takes a different form from the drudgery of the factory, but the long hours and the reduction of life to labor power for capitalists to exploit continues. The worker has been removed from the factory; the world is now our factory.
The technocratic impulse to use stock indexes to tell us about the state of our society is misguided. What is captured in these measures is the success of the ruling class to sell themselves on themselves — and they love to sell to themselves.
Take the new favorite game of roulette popular on Wall Street: trading derivatives tied to VIX. Simply put, VIX is “the stock market’s fear gauge” that monitors the volatility in the market. Its first iteration began in 1973, but its current form was introduced around the late 1980s. In 2004, the Chicago Board Options Exchange offered futures contracts on the index exclusively to traders, but in 2009 ETFs (exchange-traded funds) were created that were tied directly to VIX rates. These became easily accessible to general traders and the public. VIX was an easy bet in the era of central bank subsidies and bailouts and quickly became one of the most traded 34th in the ranking of US shares.
Now, to make money trading on VIX you are betting that market volatility will continue to decrease. For historical context, the VIX rate always remained low up until major financial crisis. The VIX rate was low up until the dotcom bubble and the Asian market crisis in 1995. It also reached new lows before the 2006 financial crisis. But since trading financial products directly tied to the VIX rate was not popular then we do not know what its effects on the market will be after Monday’s crash.
A few days after its eruption, the crisis seems to have avoided the credit markets and major banks. If the crisis does spread, there will be larger consequences. Still, even if it does not spread we should be worried. The VIX speculation is only one of the major schemes that Wall Street is tied too. Wall Street is already lobbying to repeal the meager protections put into place after the Great Recession (that it helped write). If we are not vigilant the next crisis could be much worse. This, of course, will be hard to do, with only our enemies in power.
Living In A Las Vegas Casino
The 2008 crisis is a reminder that a stock market collapse is not necessarily good for the working class. But as we have seen, the recovery of Wall Street is not good for the working class either. The economic system is designed to hold the majority down and it sees even a slight improvement to live of the many as a threat to the few. Reform and regulation without a commitment to addressing the fundamental contradiction of economic life will not last. The capitalist casino is always creating new games, and they write the rules.
Living In A Casino
While the working class does not trade on Wall Street, the indebtedness of most Americans and the unequal distribution of property brings us too close to their games. Financial crises devastate the poor, eradicating their savings and devaluing whatever assets they have. While a portfolio may drop for an investor, the real cost of irresponsible financial markets is increased unemployment and a lack of access to capital for the middle class. Until money and power are redistributed in this society, we all are living in the rigged capitalist casino. It’s time to rewrite the rules.