Can I Make A Profit Playing Poker?

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Thursday, November 17th, 2016 | Written by Lucy Brown

Online poker players have a variety of reasons for taking to the virtual tables; some do it simply for fun, while others are practicing, seeking to get better at the game. As poker relies on both luck and skill, there are also a select group of players who have high hopes of making a decent living from the game, and at any given online poker site you’re likely to see players who are using their winnings either as their sole source of income, or as a supplemental means in which to make money.

That said, recreational players who enjoy the game often find themselves wondering at some point, “Could I make a profit doing this?”

The theoretical answer is, “Yes!” It’s possible to make poker profitable, and many people are able to do just that. But for every one person who is able to make money playing poker, there are dozens more who will fail in their endeavor and fall by the wayside. To determine what your chances of making money playing poker are, consider the following:

1. How Often Do You Win?

Your win rate will have a big influence on whether or not you can be successful playing online poker for a living. Cash game win rates are expressed as the amount won per hour or for every 100 hands. If your number is negative, that’s a pretty good indication that you’re not ready to be a professional poker player yet. While luck plays a role in a player’s results, a player with the skill that’s needed to make money at the game will usually end up with a positive win rate.

If your win rate is positive, that’s good news, but you’ll need to think realistically about how much you’re actually making. A win rate of $1 per hour, for instance, isn’t going to support you!

2. How Often Do You Play?

If you’re going to play poker to make money, you’re going to have to invest time, and not just money in the game. A recreational player who heads to the virtual tables once or twice per week may come out ahead, but for long-term profitability, you need to spend more time playing the game. Many of the people who are considered to be professional online poker players do nothing but play poker. Unfortunately, not everyone can just afford to quit their jobs and start playing. You’ll need to carefully think about how much you’ll need to play to earn a decent living based on your win rate.

3. What Stakes Do You Play?

Last but not least, you’ll need to make sure you’re playing at the right stakes. Many people who go from being purely recreational players to in-it-for-the-profits players jump into higher stakes, thinking it will make it easier to rake in the dough. However, the simple truth is that the competition is often stiffer at the higher stakes, and therefore the risk of losing your competitive advantage is often higher when you increase the stakes.

Needless to say, win rates also fall off quite sharply at the bigger stakes, and whereas online NLHE players competing at the lowest stakes can have win rates of between 20-40 BB per 100 hands, for many of the online game’s top NLHE players that figure will likely fall to between 3-8 BB per 100 hands.

Trial and Error

Another way in which you might improve your chances of making a living from the game is by using trial and error to determine which games on which sites will give you the best win rate, and therefore the most money overall. For instance, you may find that you are more adept at playing one of poker’s numerous different variants than another, with the long list to choose from including such games as Draw poker, Stud poker, Chinese poker, Seven-card Razz, and Omaha.

Alternatively, you may find that your talents lie not in playing cash games, but tournaments, which require an altogether whole new approach to the game. Online tournament poker’s highest earner, Chris Moorman, for instance, says that he has the wrong mindset to play cash games as he often chased his losses, while quitting early when winning. As he explained during an interview:

“Then I got into tournaments and it felt more sociable – you could grind with friends whereas with cash games it was more you on your own. With tournaments there is a schedule and all you have to do is click register.”

In other words, even if you are in a position where you could make money playing poker, it might take some time before you’re able to find just the right variant in which to excel.