How Do Poker Players Make Their Money?

How Do Poker Players Make Their Money?

0 comments 23 November 2020, 16:04

There’s probably no other game than poker that has so many misconceptions of player earnings. Players can win millions in a big tournament but still go bust if they play long enough in big games in which they have no statistical edge. In media, you mostly hear about the larger than life tournaments wins instead of players who have lost all their money trying to reach the top. Even less covered are the stories of your average poker player and their earnings.

Are there other ways to make money in poker than winning in cash games or tournaments the only way? It turns out the modern poker players have multiple tools in their arsenal to boost their profits. According to veteran high stakes players at Beasts Of Poker, rakeback and other bonuses play a big role in how much money a player makes per year. Players can also stream their play and earn additional cash from ads & affiliate offers. Let’s take a look at the different methods poker players can make money:

Developing a high win-rate

Whether you like to play cash games or tournaments, improving your win-rate is one of the simplest methods to make more money from poker. Here’s a list of the most actionable ways to improve your win-rate and start crushing your current games harder:

  • Value-bet more both against regulars and recreational players
  • Stop playing unprofitable starting hands (you can look at which hands are unprofitable with poker tracking software)
  • Steal the blinds more actively against nitty opponents
  • Review hands that caused you trouble and try to figure out how not to make the same mistake twice
  • Hire a poker coach for post-session analysis and plugging your leaks

Finding the best bonuses, promotions and rakeback deals

Do you play at major online poker rooms regularly? You’ve probably seen promotions like daily leaderboards and tournament leaderboards. Does participating in those alone mean you’ve got yourself a great deal? Absolutely not! You see, there are a lot of exclusive promotions available if you look around the internet. Affiliate sites host their own promotions like rake races and exclusive tournaments for their players.

You should be meticulous about finding the best deal for each poker site you play on. Regularly checking the latest poker rakeback deals and promotions is one of the most profitable actions you can take outside the tables!

Looking for softer games

Even if you’re the second-best player in the world, you will lose in the long run by playing only against the best player. If you always found less-skilled players instead, your edge in the game would be guaranteed.

Looking for softer games means two things for a poker player:

  1. Table selection
  2. Poker site selection

With table selection, you should be looking for tables where the average VPIP% is high. This means that there are players who play too many hands. Poker site selection isn’t as simple as table selection though, as you need to take into account multiple factors. These include the games offered, bonuses and promotions, how often your preferred games run, and how soft those games are. Yet, the most important criteria should be the softness of games.

Learning new game formats

At first, Texas Hold’em was by far the most popular game format in online poker. Little by little, other games like Pot-Limit Omaha started to become popular as well. Limit Hold’em players moved into No-Limit Hold’em since it offered more excitement: You could lose or win a stack in a single hand of poker!

The first players to pick up the newer game formats are always in the best position to make a profit. If you have a head start in learning a strategy for a particular game format, it’s going to take some time before the playing field catches up to you. This happened at the beginning of 2010s when the first players to transition from NLHE to PLO reaped the biggest profits. The same phenomenon can be seen in Short Deck poker. The likes of Phil Ivey and Tom Dwan were the first players to put in a ton of hours to study the proper strategy for Short Deck.

Streaming poker on Twitch

It’s quite common for a poker player to put in over 40 hours a week in the game. When you’re effectively a full-time player, why not monetize it by streaming some of your games?

Twitch has traditionally been the go-to platform for eSports fans. Yet, the number of poker streams on Twitch has grown significantly in the last few years. The most popular poker streamers are making a killing on Twitch through sponsorships and affiliate revenue. Remember, all of those are extra money on top of their winnings at the tables!

No Comments

No Comments Yet!

You can be first one to write a comment

Leave a comment