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First and foremost, they employ some form of bankroll management so they never go broke. Furthermore, poker pros look to augment their winnings with bonuses or rakeback from poker sites that reward players for their loyalty.
If they get good enough, and gain enough publicity, they may even seek sponsorship. The very best poker players in the world are able to win millions of dollars without even leaving their own home.
The history of poker is full of amateur players like Chris Moneymaker going on insane streaks at the WSOP and winning millions.
There are actually a number of ways that poker players can improve their ROI return on investment when playing poker.
First and foremost is simply getting better at poker. One of the best ways to learn these days is through YouTube or Twitch streaming, which is a far cry from the old days.
Outside of strategy, there are other elements that can help a player maximize their winnings. Some of the basic concepts that new players should learn include:.
Bankroll management is simply a risk-avoidance strategy that helps lessen the variance of poker. Most bankroll management advocates advise having at least 20 to 30 buy-ins at the stakes you play.
Some more conservative players like to have 50 or Poker sites are always looking to recruit new players and they do that by offering different perks that can be in the form of free tournament tickets freerolls , rakeback getting a percentage of your rakeback or a sign-up bonus sites will match the amount of your initial deposit.
Hunt around and try to find a poker site that will reward you for time. This is a big problem if having a high winrate and huge profits in this game is your goal!
Me hunting for the fish:. If you aren't making a consistent effort to play in games with them then you can expect a very small winrate at best.
So I would suggest that you play on the easier poker sites for starters and then also learn how to spot the fish, tag them and attract them to your tables.
Once you get seated at a table with the rec players then you also want to be isolating the crap out of them and basically trying to get their money faster than all of the other regs.
Call it predatory, call it whatever you want. I call it winning poker. By the way, if you are curious how I multi-table online poker and still keep track of where all the fish are, yes I do use several poker software aids and tools to help me.
For the complete list of all poker software tools I use as a pro, click here. Lastly, let's not forget that cash games aren't the only way to make money playing poker.
Can you make 1k a month playing in these? Yes you can but a lot of the same ideas from above apply. You are also going to need to develop a solid TAG strategy for these games but you also have to tailor it to the different structure of these formats.
For instance, in tournaments the stack sizes are usually very shallow by the middle and late stages 30bb or less. This means that you often only have two options, all-in or fold.
If you try calling and playing "small ball" style pots like in a cash game, I can guarantee that it won't work out very well for you.
The great thing about tournaments though is that they still attract a ton of big fish. Recreational players love the idea of getting lucky and hitting the big score.
This is the type of poker that they always show on TV after all. We all just witnessed 25 year old Scott Blumstein win 8. Well played sir, must be nice!
Fish see this kind of thing and immediately log online to try their hand at tournaments. So I do think there is great value to be had in these formats.
The main problem though is that the money is not nearly as consistent as cash games. For instance if you got fairly good at tournaments and move up a few stakes, then these might be your results:.
You get the idea. It still equals out to 1k a month in the end but there is no consistent money in tournaments. Most months will be breakeven or a small loss and then once in awhile you will hit an epic score.
This is the life of a tournament player. You also need to be prepared to be chained to your chair for many hours at a time.
In a cash game, you can leave whenever you want. For my ultimate guide to low stakes poker tournament strategy, click here. As I just mentioned, the biggest problem with making money from poker is that there is a ton of variance involved.
You will have large wins followed by hopefully not as large losses. This is one of the biggest reasons why relying on poker as a sustainable income is difficult.
But as somebody who has relied on poker to pay my bills, I can tell you that the top pros know that the key to success is good bankroll management.
Because poker simply isn't like a regular job where you can show up each day and expect to have a steady paycheque for your bills every month.
Many professional poker players have losing months and sometimes even losing years in the case of tournament pros.
You should also have a bare minimum of 6 months living expenses saved up that is completely separate from your poker bankroll.
You can find my complete guide to poker bankroll management for both semi-pros and pros right here. And the answer to that question is that it entirely depends on your life situation.
For somebody like me who moved to Southeast Asia and lives a pretty simple life, no kids, no car, sure I could make it.
The cost of living in many countries like Thailand, the Philippines and so on is much cheaper than many expensive western countries like the one I am from for example, Canada.
So there are many online poker pros for example who have moved to low cost countries in Southeast Asia or Latin America who do just fine.
I would say that the answer to that question should be no for most people. And even then, believe me when I say that the old saying is so true: "poker is hard way to make an easy living.
With all that said though, poker still provides a good opportunity for some people to make a good side income.
There is nothing wrong with keeping your day job and just playing this game semi-professionally! In fact, in many ways it is superior because you still get that steady paycheque each month, and the mental stress of the game therefore won't affect you nearly as much.
You will also need to move up a few limits. Furthermore, achieving this goal will require consistent play. If you only play poker for a few hours on the weekends for instance, then there is no way that you are going to make this happen.
You also need to work on your tilt control because in low stakes poker games you are going to face a lot of bad beats and suckouts.
This is just the nature of playing against loose and crazy players. If so tell me how in the comments below. Posted by BlackRain Unknown 01 August.
BlackRain79 01 August. BlackRain79 02 August. WallAce 02 August. SD 02 August. This way you can act last after them every hand, allowing you to make better decisions against them and capitalize on their mistakes in more situations.
Why do you see players like Tom Dwan and Phil Ivey play hands outside the starting hands charts then? Due to their vast experience of poker, they know when to break those rules to win even more postflop.
Our advice is not to play bad hands in a 6-max or full ring poker — you can certainly become a winning player by sticking to a solid preflop game.
To learn the right starting hands easily, we recommend checking the starting hands guide from our 6-max poker strategy article.
Players who choose which hands to raise according to these starting hands charts are described as tight-aggressive or TAG. A TAG is quite selective in which hands they play, but once they enter the pot they come in with a raise or a 3-bet instead of limping or cold-calling.
Most winning poker players have TAG style at the tables, and we recommend using this approach for everyone. Mistakes are inevitable for all players no matter how good they are.
Great players just make a lot fewer mistakes than their less-skilled opponents. Mistakes are what basically keep the games going, as nobody would win in the long run if everybody played poker without mistakes.
Winning players have an edge at the table due to making fewer mistakes than break-even or losing players. To get your fundamentals right in poker, you must understand game theory and apply it at the tables:.
Game theory in poker can be defined as the theoretical knowledge of how poker works and how one can profit by playing. On top of that you add the underlying probabilities and odds of the game.
By balanced we mean a strategy that is hard to exploit — one that makes money in the long run against players who play an unbalanced strategy.
On the other hand, other players will have a hard time playing against you, as you will be the one that adjusts first. Majority of the time you need to disguise your hand though, as most players will notice any glaring patterns that you have.
For example, if you always raise bigger with just AA, KK and QQ and raise small with all other holdings preflop, any decent opponent will not give you action when you have premium pocket pairs.
How do we play in a way that is not so predictable? You want to give your opponents a hard time to put you on a hand. Here are three easy techniques you can apply to achieve this:.
Raise the same amount with all your hands preflop from a particular position. Bet both your strong hands and draws the same way postflop.
You will be harder to read and win more often as a result! Understanding and playing a balanced strategy will keep your win rate high, but knowing how to make correct adjustments according to how your opponents are playing will put even more profits in your pocket.
Successfully adjusting your strategy requires two components: Recognizing the tendencies of your opponents and taking advantage of those tendencies by playing the correct counter-strategy.
Again, you can use 3 different techniques to achieve this:. Study your opponents closely at the table. This is the starting point for any adjustments in poker.
Look at their moves and see if you can spot what kind of patterns they have. Focus on catching any information about their play that might help your decision-making in future hands.
Make a mental note of the hands they have at the showdown. Showdowns reveal the whole story of a particular hand that was played. Often they reveal also the thought processes of the players involved.
Sometimes by seeing just a single showdown you can understand how the players involved approach the game preflop and postflop. Categorize your opponents based on their aggressiveness.
Facing a raise from a passive opponent on the turn or river holding an overpair? You have an easy fold. Get raised by a maniac on the flop?
Start checking back more hands against them, as they will give you plenty of action when you flop something strong. Better estimations allow you to make better decisions, eventually leading to more winnings.
On any given day, the worst player at the table might win heaps and the best player can get buried. Such is the nature of poker, whether you like it or not.
Once you can recognize not playing your best, you have two options: Either quit the session or try to control your emotions.
Deep breathing, injecting logic or reading a strategic reminder are useful tactics if you decide to keep playing. It is due to bad play you see many times over that poker is so profitable.
If bad play was never rewarded, people would stop playing bad or they would move to other games than poker. Like with any aspect of poker, tilt control requires a lot of practice before you can execute it flawlessly.
Learning to say no to that requires great discipline that all the best poker players have mastered. Keep your cool and grind it out, as your luck will turn sooner or later!
Many factors affect your overall results and how much you win at the poker tables. Among them are your strategy and skill level, the games you choose to play and how well you can control tilt.
Making money in poker requires a disciplined approach. No wonder poker is said to be a hard way to earn an easy living!
Putting in the hours and studying the game require dedication. Simply put: The more you want to win, the bigger your commitment to the game needs to be.
Only those who put in the necessary work can overcome downswings and the inevitable variance. But, their reward is also going to be a big one in the long run.
With the advice provided in this post you will be well on your way to make some money playing poker. Poker is an easy game to grasp but takes a lifetime to master.
On top of these winnings, active players get rewarded with thousands of dollars. Playing PLO might however result in bigger swings than NLHE due to the variance involved, and you have to be prepared to go through long stretches of break-even or losing runs.
Cash games are indeed harder to beat than tournaments, as the skillset required to beat cash games involves handling a lot of complex betting decisions on later streets.
In tournament poker the stacks are on average much shallower, resulting in less turn and river decisions compared to cash games.
Therefore cash game players are more used to playing deep stacked poker, where the biggest decisions are made on later streets.
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