From murky games in smoky backrooms to what could be London's biggest IPO in years: poker has come a long way since internet operators saw a fortune could be made by allowing players to gamble online.

With millions of people discovering online poker, PartyGaming, the world's largest online poker operator, has appointed two London-based investment banks to conduct a strategic review. A UK flotation, or partial float of its equity, is high on the agenda of the Gibraltar-based group.