For many established poker pros, online poker is the gateway to a multi-million dollar business that can make a talented player a millionaire within a few months. Online poker sites often serve as a springboard for young players to build a bankroll with which they can eventually enter high-paying online tournaments or live events and make their breakthrough there. Others are content to secure a significant side income each month by playing poker online. But how exactly can you make money with online poker? At what point is it worth quitting your job and turning poker into a career? Here you will get all the information on how to make money online with poker.
Tip 1: Keep a budget book
Before a player decides to become a professional poker player and make money playing online poker, they should calculate how much money they need each month. This is because living expenses occur even when there is no income. The cost of rent including utilities, food, insurance and other expenses should not only be covered each month, but there should also be a buffer of about 20% of this amount.
This means that this amount must come in regularly every month in order for you to be able to make a living from poker. Those who are successful hobby players can thus calculate how much they need to play according to their past experience to arrive at this amount. Thus, they can also determine whether their poker career will be crowned with success or not.
2nd tip: Use bonus offers
Almost all poker rooms offer bonus offers when a new player decides to sign up and deposit. In addition to these welcome offers, there are also frequently recurring actions and promotions that are also worth taking advantage of.
With a bonus, the poker player can increase his bankroll, so it is always advisable to accept these offers. Apart from that, it is advisable to register with multiple providers and not just one anyway.
Tip 3: Consider Rakes
A poker room is funded by rake – this is on average 5% of the pot or 10% of the buy-in for a tournament. Those who play a particularly high number of hands often receive rake offers. This can be up to 30% of the rake.
In this case, the player receives a portion of the rake back once a month. Therefore, it is worth choosing a poker room that offers a convincing rakeback program. In addition, the recommended providers are characterized by further reward systems for loyal customers, such as a VIP program with a loyalty points system.
Tip 4: Maintain discipline
Anyone who plays poker professionally wants to make money with online poker. This means that the person is not just playing poker for fun and enjoyment, but is pursuing the idea of being able to make a living from it. This is a self-employment, like any other. This means that certain working hours must be adhered to and it takes a lot of self-discipline to be successful.
Even a self-employed person can’t just take time off when they want or just go on vacation. Furthermore, it’s not enough to just rest on your laurels after a particularly successful game. The point is to continuously improve and generate profits in the long term.
Tip 5: Minimize risk
Risk minimization is about identifying and reducing potential sources of risk. One way to minimize risk is to play with many smaller bets rather than one large one. Self-control is also part of the process, as many poker players frantically try to win back lost money after a loss. But sometimes there are those days when everything goes differently than planned and luck can’t prevail.
The pressure that arises when not enough money is deposited also has a counterproductive effect. That is why professional poker players react calmly when they lose again. Incidentally, most poker rooms offer the possibility of setting limits in the client area. Depending on the provider, it is possible, for example, to limit the bets or the amount that can be deposited weekly or monthly.