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What Is It Like To Make Money From Online Poker

Jul 21, 2017  If that sounds like a lot of money, it is. It's also a lot of poker playing. $240,000 of tournament entries per year is $20,000 of tournament entries each month, or about $5,000 per week for 48. Jan 11, 2017 This video teaches you how to win at poker and where the money comes from. My goal is to show you what really drives profit in poker and help mold your thought processes into that of a winning player.

PokerNews Staff

Many different paths carry first-timers to the poker table. Some come to poker via other card games, while others find poker after having sampled other gambling games in the casino such as blackjack, craps, or roulette. Sports bettors also sometimes wander from the sportsbook over to the poker room and find themselves in a game — and perhaps find poker intriguing thanks to the sports-resembling competition the game provides.

Those who stick with the game do so for many reasons as well, although most are motivated by the prospect of making a profit at poker. Especially those who win at first — which happens quite a lot — will keep playing to try to win more, with some even being encouraged to think about winning a lot more and perhaps even to become professional poker players.

But while poker is a game that rewards skill, luck plays a role, too. Those who initially win at poker likely do so in part because of getting dealt good cards, hitting draws when they need to and avoiding others' hitting theirs. Only those who take some time to learn poker strategy and gain experience are usually able to sustain that success over longer periods.

In other words, the short answer to the question 'Can I make money playing poker?' is obviously that you can, but you also need to be willing to put in the work to increase your skills and have an advantage over your opponents. The fact is, while it's certainly possible to win at a single cash game session or go deep and win a lot in a single tournament, only a small percentage of players remain profitable long term, and invariably those players are better skilled than those who do not.

Let's look a little more closely at the question, however, by asking a few other questions addressing factors that will affect the likelihood of your being able to make money at poker as well as how much money you can make.

1. What is your win rate?

The generic term 'win rate' is used to refer to how much someone is winning at poker over a given period of time or hands played, although in truth the term is also used when referring to how much a player is losing, too. A player with a positive win rate is profiting at poker while a player with a negative win rate is not. Calculating your win rate is done differently in cash games and in tournaments.

In cash games, a win rate is usually expressed as the amount won per hour or 100 hands. In no-limit hold'em or pot-limit Omaha, the unit of measurement is often converted to big blinds — e.g., in a $1/$2 NLHE game, making a profit of $10 = winning 5 big blinds.

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Meanwhile in limit hold'em, stud games, and others with fixed-limit betting the amount won is usually measured by the number of 'big bets' it represents. For instance, in a limit hold'em game where the small bet is $2 (preflop and flop) and the big bet is $4 (turn and river), a player who makes $100 is said to have won 25 'big bets.' (Somewhat confusingly, both 'big blinds' and 'big bets' are often abbreviated as 'BB.')

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Meanwhile in tournaments a win rate is usually expressed as a player's 'return on investment' or 'ROI.' Divide your profits by your expenses and multiply by 100, and you get a percentage representing your ROI. For instance, if you spend $200 in buy-ins and cash for $220 total, your ROI is $20 (the profit) / $200 = 0.1 * 100 = 10%.

Obviously if your win rate or ROI is negative, you aren't making money playing poker. But even if you enjoy a positive win rate or ROI, you need to consider other expenses related to playing poker and look at whether or not your winnings are exceeding them. If it costs you $10 in gas every night to get to and from a poker room and you're only averaging winning $5 per session, your win rate is positive but you aren't making money. Or if you spend $10,000 over the course of a year traveling to poker tournaments but only have an ROI good enough to earn you $8,000 worth of cashes during that time, you're technically 'winning at poker' but losing money overall.

The biggest point to take away here is that if you are interested in making money at poker and don't keep track of your wins and losses, start doing so right now. Find out what your win rate or ROI is, take into account other possible expenses associated with playing poker, then you'll see whether or not you are making money at poker. You'll also likely be encouraged to sharpen your study of the game in order to try to increase your profit if you're winning (or to become profitable if you're losing).

2. How much do you play?

Another question to ask when addressing the larger question of whether or not you can make money playing poker is to consider just how much poker you're playing.

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If you're strictly a recreational player who only joins a home game once per week or who plays online poker for an hour or two here and there, you can still win at poker but only a limited amount. Also, those who play poker only sparingly aren't necessarily gaining experience and knowledge that will help them build their skills and win more consistently.

A number of serious players who put in a lot of 'volume' at the tables are able to increase their profit steadily even if their win rates are somewhat low. Most tend to consider cash games a more reliable way to make money at poker given the higher variance of poker tournaments.

If you think about it, in most poker tournaments only the top 10 or 15 percent of finishers enjoy any profit at all, so it logically follows that the majority of players finish out of the money most of the time they play. Really only the most successful tournament players are able to cash enough to sustain an ROI as high as 10 or 20 percent (or more), with most who are profitable sitting in the 5-10 percent range.

That means when playing tournaments even good players lose money more often than they win money. But when they win they win enough to more than make up for the losses, sometimes hitting especially big scores when finishing at a final table or winning the entire tournament and getting back 10, 20, 50, or even 100 times the buy-in.

Cash games tend to be less volatile that way, although even there good players will frequently have losing sessions. They may even have more losing sessions than winning ones, although they manage to enjoy larger profits than losses, generally speaking, and thus have positive win rates. Even so, if you don't practice sound bankroll management, you can experience one very bad cash game session and lose everything you've won and then some.

Once you've figured out your win rate, you can think about how much you need to play in order to make a desired amount over a given period of time.

You should also try to gauge what is the best amount of time to play poker for you in order to increase your chances of remaining profitable. Some are better of playing, say, only 10-20 hours per week than 40-50 hours per week, or shorter sessions instead of long ones, because they have trouble focusing and thus playing well over longer periods. Meanwhile others can put in those extra hours and not suffer as a result.

3. What stakes are you playing (and are they right for you)?

Probably the most important question to answer when delving more deeply into whether or not you can make money at poker is to look at the stakes for which you are playing. And — importantly — whether you are choosing well when deciding upon your stakes and sitting down in games in which you can win and win consistently.

One common misconception among new players is that the best way to win more money at poker is to play for higher stakes. A player who wins consistently at the $1/$2 NLHE cash game might imagine simply picking up and moving over to the $10/$20 game will result in winning 10 times as much money, but more often than not such ideas turn out to be foolhardy.

What Is It Like To Make Money From Online Poker

Games of different stakes attract differently skilled players. While the lowest stakes games almost always include the least-skilled and least-experienced, they attract strong players sometimes, too. Similarly, many of the best players can be found in the higher stakes games, but there also will inexperienced or poor players sometimes sitting around the table.

On average, though, the higher the stakes the tougher the games. Thus do the profitable players' win rates actually go down as the buy-ins and/or stakes go up. In online cash games (just to cite one example), NLHE players of the lowest stakes including the 'micros' have been known to sustain win rates of as much as 20-40 BB/100 hands over large sample sizes, while the best players in the higher NLHE games online generally top out at around 3-8 BB/100 hands.

That's one reason to be realistic about moving up in stakes in poker — even if you're great and better than most in the games, you aren't going to win at the same rate you did at the lower stakes.

But you also need to be practical about your own ability as a poker player and recognize when the competition is too tough to beat. As you move around and test out which stakes work for you, continue keeping accurate records and note at which stakes (for cash games) or buy-ins (for tournaments) you are winning most consistently, and where you are winning less or losing.

Sometimes you might find it hard to win in a lower stakes game than in one a notch or two above, simply because of your particular skill set and how well you respond to the styles and tendencies of others. More often, though, there will be a stakes 'threshold' (of sorts) above which you might take shots now and then but probably shouldn't go on a regular basis.

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In any case, be honest with yourself and smart with your bankroll, and your chances of making money at poker will increase as a result.

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It’s reasonable to ask, “Is online poker legit,” because cardplayer pay a lot of money into online poker rooms. This is a two part article, first covering online poker and second examining which sportsbooks are legit. I recommend www.IgnitionPoker.eu (previously known as Bovada) for poker and Bovada.lv for sports betting, and so does everybody else who isn’t paid off. If you only consider a legit site, one run by state or Federal licenses, then you must by physically located in Nevada, Delaware, New Jersey, or Pennsylvania. For those that live there the PokerStars, Borgata, and WSOP are the most active in the 4 licensed states.

I didn’t just pull these sites from nowhere, I’ve been in the gambling business for over 10 years now. I’ve seen and dealt with all sorts of millionaire and billionaire scum bags; people that should be on the TV show “American Greed”. The only legit poker sites I suggest are mentioned on my homepage or on the ‘safe list‘. You’ll notice the list is pretty darn short, and I’ve dealt with approximately 45-60 gambling sites. PokerStars is the largest online poker site there is. Borgata is powered by Party Poker, while WSOP.com uses 888poker software. If you consider a non rigged, legit poker site to be one run from the United States, then you will have to be physically located in Nevada, New Jersey, Delaware, or Pennsylvania to be able to play. But I can point to unregulated poker rooms that which gives

But Aren’t U.S. Licensed Sites Legit?

It’s debatable. In fact, in total I’ve had $147,116 taken from me by the U.S. government. The money was not stolen by offshore poker sites but THE U.S. GOVERNMENT! The process of legalized poker in the U.S. was a complete scam. They attempted to shut down every online poker site that was running for US customers, simply because they wanted zero (0) competition as they launched their own poker sites.

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What Is It Like To Make Money From Online Poker Videos

Let me ask you this. How is it that the Ultimate Fight Championship (UFC) – which has nothing to do with online poker – was the first to open up an online poker room in Nevada? How is it that poker sites like Bet365, Paddy Power, Everest Poker – which are traded on the London Stock Exchange and have market value in the billions of dollars – were not given priority in the immediate launch of poker in the US? Those 5-star poker sites never accepted US customers after UIGEA and adhered to all laws both domestic and international.

Yet the UFC gets the first poker license in Nevada. Not only that but the operations at “Ultimate Poker”, UFC’s poker site was light years behind any poker site based offshore that is legit. The Nevada Gaming Commission helped the local business already making them and the state money, because UFC was affiliated with Station Casinos (at the time). That is governmental corruption at its finest. Did I mention UltimatePoker went out of business, because they didn’t know how to operate a poker site?

Legit Poker Sites

Beginners might wonder what a legit poker site needs, so let’s define our terms. Below is a short list of the factor you should consider, always with explanations for why they’re important. Don’t use poker rooms if they don’t check off everything on the following checklist.

  • Player Traffic: Without traffic, sites can’t have a selection of high stakes, mid stakes, and low stakes cash games, tournaments, and sit’n go events.
  • Good Software: Top software means fewer issues, plus access to features like Bovada’s Zone Poker, which increases your hands per hour.
  • Experience: This entails everything from software support to customer service to knowing how to monitor cheaters at the table.
  • Banking Options: It often comes down to sensible payment options, including credit cards, web wallets, and crypto-currencies like Bitcoin.
  • Other Games: If poker websites offer casino gaming or sports betting, it means lots of casual poker players (soft competition).

Which Poker Site is Not Rigged?

My buddies ask me all the time about this because it’s my job and one of the sites I most often recommend is Ignition Poker (previously known as Bovada). Having met the owner personally, he is an honest person and puts himself in the public spotlight when others hide under rocks. His previous ownership, now owned by Morris Mohawk is probably worth about 1-2 billion USD. In a closed meeting, he discussed how if anything ever went bad, he would personally make sure all his players and employees got paid from his own checkbook. On top of that the site has the most player traffic going by PokerScout and has an Alexa rank of 9,730. For a comparison, HBO has about a 4,600 Alexa rank which means millions of people use it. Most sites are in the million number ranks – which is terrible.

If you are in Nevada, New Jersey, Pennsylvania, or Delaware, then the answer might be different in 3 or 4 years from now as the WSOP grows its player base. The WSOP is now forced to be legitimate and all licensed poker sites in the U.S. look like the saviors of safe poker sites. In truth, the Unlawful Internet Gambling Enforcement Act (UIGEA) was an unnecessary federal law which shut down poker sites, drove out legit online cardrooms, and dismantled a perfectly well run market. If lawmakers had not stepped in we would still be playing at Party Poker and making money would be just as easy as it was all those years ago. But lawmakers must justify their jobs and business owners must deal with the fallout the best they can.

Be Careful of Scamming Affiliates

I could go on for hours about how people to this day are crummy affiliates who are touting poker sites to play. They are getting large up-front chunks of cash in the $100,000+ range to mention their poker rooms because they rank high for popular terms in Google and Yahoo by using spammy search engine optimization techniques over and over again to maintain rankings and visitors. I have email chains proving certain companies insolvency and forthcoming bankruptcy, yet they continue to operate. The most recent mass scale offenders were Lock Poker. This was one of the longest running scams, but U.S. law enforcement agencies never took action. Eventually, journalist John Mehaffey brought Lock Poker’s abuses to light. Players left the platform and the site shut down in 2015.

Thus, poker review sites serve a useful purpose. With honest reporting and the facts on their side, card players can make informed decisions about online poker rooms. US Poker Sites continues to monitor legit sites here, so players have the info they need. We are pretty straight forward, so we hope this site helps.

For what it’s worth, I do not believe any poker sites are ‘rigged’m but cheating and collusion goes on regularly and will never stop. Legit poker sites takes steps to eliminate collusion, but cheaters find new and inventive ways to collude. It’s a cat-and-mouse game that will never end entirely. It’s better just to play for small amounts of money – however you define “small amounts” – you don’t mind losing one way or the other.

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Is Ignition Poker Legit?

So if legitimate poker sites try to make games safer, then you might ask which card rooms you should trust. Ignition Poker is the top option for American online poker players, so I’ll use it as an example. Ignition Casino launched in the spring of 2016. A few months later, Ignition bought Bovada Poker’s player pool, instantly establishing itself as the second largest online gambling site which accepted US poker players. Since then, Ignition Poker vaulted to the number one spot.

What Is It Like To Make Money From Online Poker Games

Ignition Poker therefore has all of the elements of a world class online poker site. It’s linked to an online casino, so many soft players or fish join its cash games and tournament events. The gaming platform uses Bovada proprietary software, so Ignition uses trusted and well-tested technology. It has the most player traffic of any poker site which accepts US players.

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The Bovada-powered poker room includes several features that make it popular with players. Here’s a few of those features:

  • Quick Seat: Choose a poker game like Texas Hold’em, Omaha, or Omaha Hi/Lo and the stakes and Quick Seat automatically puts you at a table.
  • Anonymous Tables: Players can’t use Heads-Up Displays (HUDs) to track your hand history. Instead, you use your skills and perceptions to get a read on opponents the old-fashioned way.
  • Zone Poker: A fast-fold feature where you’re assigned to a new table once you fold a hand. Players should fold most hands, so you don’t wait on bets and showdowns most of the day.
  • In-Software Casino Games: If you prefer to sit through hands, you can play In-Software Casino Games like blackjack, roulette, video poker, or 3D slots.
  • Mobile Poker: Play poker anytime, anywhere with the mobile poker apps for Android and iOS. Jackpot Sit-and-Go games cater to mobile poker players with possible 1000x winnings while you’re on the go.
  • Softer Opponents: Ignition Poker has a huge community of recreational players. Unlike some sites, it allows expert poker players to play against casual players, so skilled players have high odds of facing lesser opponents.

Deft readers might notice that Ignition Poker is newer, so they might be thinking the site doesn’t meet the criterion of experience. Ignition’s owner has been in the online poker business since the 1990s, so the poker room has more experience than the other online poker rooms which accept US players from any state.

Free Poker Sites

Poker players can find all the information they need with free poker sites. To learn more about online poker, watch live streamed poker games on Twitch and YouTube. Both platforms have a seemingly endless amount of channels which provide all-day coverage of online and live poker events. One of the best is FuryTV.

FuryTV, a YouTube channel with the best compilations, highlights, and hands from poker events all around the world. Fury ETC Ltd is affiliated with the official Twitter page of partypoker, @partypoker, and the official home of partypoker live events, Part@partypokerlive. Watching a YouTube feed like FuryTV improves your knowledge and skills at poker.

Keep reading USPokerSites for the latest advice and trends. Like our recommendations on Ignition Poker or FuryTV, we give honest opinions and detailed reasons to support those attitudes. When the latest trends and updates happen, we reasses the landscape and give our readers the best information available. Our goal is to provide reliable poker advice on the latest topics. You might not always agree with us, but like the opinions above on corrupt politicians and scamming affiliates, you’ll walk away with new ideas and information to consider. Keep studying online poker, and keep reading about the poker sites we recommend.