A Poked House has been crowned the new king of poker charting, with an epic victory over a competitor who bet his house was overpriced by more than $5,000.
Poker charting is a form of gambling where the stakes are set at a certain amount, usually a dollar, to get an edge.
It is one of the fastest growing forms of gaming and has become increasingly popular in Australia, especially for online poker players.
However, the new record-breaking Pokedhouse has proven it is the best at its game, with a $500,000 profit and a victory against a highly-valued online poker house in the process.
Key points:Poker house owner, Michael Rocha, has been a regular visitor to poker charters house, and his PokedHouse has been making money for several monthsThe Pokedhouses profits are bigger than other house in AustraliaThe house owner’s PokedHouses house is now worth $5.6 million, according to poker stats website PaddyPower, while the Poked Houses is valued at just $400,000The Poke House has a $5 million profit in just six months.
It started in 2009, when the house owner was a college student in the United States, before he opened his own online poker company in the Australian capital, Canberra.
At the time, Pokedheads house was worth around $5 billion.
But as his company grew, the Pokehouse’s price jumped from around $100,000 to as much as $600,000 a month.
In November 2011, he sold his house to a group of investors and put the money into a new house.
In 2012, his new house was valued at $1.6 billion.
Mr Rochas profits have been increasing ever since.
In August, he reported a $1 million profit on his house’s value, and a $2.4 million profit a month later.
“I have no regrets about it,” he said.
“It’s a great business and we’ve had a fantastic run.
I’ve been here six months now and I’m really happy.”
The Pokes house has a profit of more than double the $500 million of other houses in Australia.
In February this year, he posted a $200,000 loss on his Pokes book, while his house is valued on the market at $400 million.
But he said it was not just his Poker house’s earnings that are going to put his house on the board.
“The Poking House has had a very successful run,” he explained.
“We’re on a roll and the Poking Houses book is doing well and we’re also in the top four in Australia for house price appreciation.”
Mr Ruchas profits are on track to be the most profitable in poker history, with another record-smashing result this week, with his PokeHouse earning $3.2 million.
The Pokers record-setting profits are likely to give the house a new lease on life, and he is not alone.
The latest Australian figures show that the average poker house price in Australia has increased by almost 10 per cent to $2,818,400, according the online poker tracker Paddy Power.
This is more than six times the price of the house that won a record-high $2 million in February.
And the Pokes has continued to expand.
In June, it recorded a $900,000 quarterly profit and an $800,000 year-on-year increase in revenue.
Its turnover jumped by over $1 billion to $1,521 million in the same period.
The house’s profit was more than 10 times that of the $521,500 that the previous record-holder, Paddy’s Poker House, had amassed in 2011.
“There’s a lot of money coming into the house,” Mr Rochans partner, Steve McBride, told ABC Radio Hobart.
“As long as you’re not overpaying, that’s going to keep the house going.”