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Poker Tracker is an essential piece of software for anyone who is series about playing poker online. Most poker sites will write out the history of any hands in which you participate to your machines hard drive. Poker Tracker parses those files and stores them in a database and they computes a variety of statistics based on the data in that database.
So how is this useful to you? Well there are number of benefits. First it reports statistics about your play. How often do you see the flop? How aggressive are you? How profitable are you? Using these statistics you can find leaks in your game. Maybe you are playing too loose pre-flop. Poker Tracker will show you which hands you are playing that are costing you money. Maybe you arent taking your position into account when deciding to play a hand. Load up your stats from Poker Tracker and find out.
Finding leaks in your own game is certainly important, but that's only half the story. In addition to compiling all sorts of stats about your play, Poker Tracker is also compiling those same stats against your opponent. If you play a lot online, chances are you've seen hundreds or thousands of different opponents. Remembering the playing styles of all of them isn't very realistic. Poker Tracker does that for you. When some guy comes over the top of your raise, and you can check your Poker Tracker stats about him to see that he hasn't raised in over 200 hands, you can be pretty confident that he has a good hand and get out the way. Or maybe he raises every other hand according to your stats, so you can play against him knowing that he probably isn't as strong as he wants you to think.
There are also a number of add ons to the basic Poker Tracker software. For example Gametime+ will read the data from your Poker Tracker database, and overlay key stats about your opponents right on top of your favorite poker client, so you don't have to look up every single opponent, you have all the info you need right in front of you.
Supported sites include just about every major site and many of the small to medium sites out there. For a full list, check the Poker Tracker website.
You can purchase Poker Tracker for $55.
I would also highly recommend the Poker Tracker Guide, which was written by a couple of well known and respected poker bloggers, Iggy from Guinness and Poker and Hank from The Cards Speak. It will make sure you get your money's worth out of Poker Tracker.