Making a living solely by playing poker online is a tantalizing dream for many players. The flexibility and freedom of being your own boss and setting your own schedule is very appealing. But is poker a viable career option? Can you actually earn enough to pay the bills month after month, playing at Casino Huone?
The keys are having enough volume, continually improving your skills and strict bankroll management. While it’s not easy, thousands of players around the world play poker professionally. This post will explore what it really takes.
You Absolutely Can Make a Living from Online Poker
The short answer is yes, you absolutely can make a consistent income playing poker online. While the exact statistics are unknown, it’s estimated there are over 5,000 professional poker players around the world as of 2022.
For many, playing professionally started as a pipedream or even a last-ditch effort. Daniel Negreanu famously told his parents he’d give poker a year to work itself out before getting a real job. Now he’s the highest earning tournament player ever with almost $50 million in cashes.
While Negreanu’s results aren’t typical, they show poker can truly be a viable living. Other well-known pros who have made millions include Phil Ivey, Fedor Holz, Viktor Blom and Stephen Chidwick. Their results are no fluke.
And you don’t have to become a world famous pro to earn a healthy income. Thousands of lesser known, regular players quietly earn $50k, $75k or even $100k+ per year playing online poker.
So it’s definitively possible, but you have to put in tremendous work and dedication over time.
Key Factor #1: Have a Large Enough Bankroll
One of the keys to sustaining yourself as a professional poker player is having strict bankroll management. Your bankroll is your lifeline and fluctuates constantly. You need ample funds and the discipline to resist the urge of dipping into poker funds to cover other costs.
Many pros recommend having at least 6 months to 1 year of living expenses bankrolled before going full time with poker. This gives you a cushion in case of downswings where you hit rough patches and lose more than expected.
A general rule of thumb for your poker bankroll itself is having 300 big blinds for the limits you primarily play. So if you mainly play $1/$2 NLHE, you’d want to have at least $600 set aside.
Bankroll management is crucial because even the best players face swings and variance. You need to be able to weather downswings psychologically without having it compromise your rent or bills.
Key Factor #2: Volume and Consistency Are Necessary
Another key factor is having enough volume and consistency. Simply put, making a living in poker is all about the quantity of hands played. The more hands and tournaments you play, the faster you accumulate rakeback, rewards points and bonuses.
You need to be playing enough tables and entering enough tournaments to hit your income goals each month. Just like any other job, this requires putting in regular hours and avoiding long gaps away from playing.
However, you can’t just put in insane 16 hour days playing nonstop. Poker requires intense focus and mental energy to play optimally. Playing while overly tired inevitably leads to costly mistakes. Most pros put in 40-50 focused hours per week with proper rest built in.
Here are the key volume and consistency benchmarks to aim for:
- Play regularly without long gaps off
- Minimum 20,000 hands of tomb raider slot per month
- Enough volume at your limits to clear income goals
- Review detailed stats every week or month
Without the volume, you run the risk of short-term variance sinking your profits. By playing consistently, you give the math more time to work itself out.
Key Factor #3: Continually Work on Your Skills
If you want to play poker professionally, you need to keep improving your skills. The competition gets tougher every year on the online sites. The games today are filled with sophisticated regulars using advanced strategies, software, solvers and more.
Poker has come incredibly far in the last 20 years. What worked 10 years ago won’t cut it today. You need to continually evolve along with the games.
Here are some skills to work on developing:
- Review hand histories and plug leaks
- Read modern poker books and watch training videos
- Master new strategies like solvers and game theory optimal
- Understand important stats like BB/100, AF, red line
- Drill your preflop openings ranges, 3-betting, barreling
- Stay up to date on the latest poker theory
The best way to accelerate your skills is to invest in coaching from proven winners. Getting expert perspective tailored exactly to your specific game is invaluable. Just like athletes use coaches in other sports, poker players need coaching too.
Other Important Factors for Making a Living at Poker
Here are a few other important additional factors to consider if you want to play poker professionally:
Manage Your Taxes
Depending on where you live in the world, you may have to pay taxes on your poker winnings. That means keeping detailed records and putting money aside. Failing to do so can really hurt you financially with interest and penalties piling up.
Have a Dedicated Poker Workspace
It’s vital to have a comfortable, distraction-free environment to play your sessions in. Invest in multiple monitors, an ergonomic chair and optimize lighting. Some pros even build out a dedicated office space just for playing.
Work on Your Mental Game
Poker has constant swings, downswings and variance. Handling these without going on tilt or being results oriented takes work. You need to be process focused with a calm and balanced mindset. Meditation, exercise and having interests outside poker are key.
Don’t Let Poker Consume Your Identity
While poker may be your main source of income, don’t let it consume your entire identity. Make sure to branch out and have other interests and hobbies going on. This helps maintain balance and perspective.
