The one thing that almost every poker player is interested in when they begin seriously playing the game is how much money they can make.
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- Those are live tournaments, but if you can play online poker and win monster prizes as well. Every Sunday, PokerStars runs 7 major tournaments with millions of dollars in total prize money. Last Sunday the biggest winner earned $175K. Then there are the cash games.
- Sep 30, 2016 Or if you spend $10,000 over the course of a year traveling to poker tournaments but only have an ROI good enough to earn you $8,000 worth of cashes during that time, you're technically 'winning.
Apr 11, 2011 For a professional poker player to average $500/hr (s)he has to be playing fairly high stakes games in which you are winning and losing sums between $10,000 and $100,000 on an hourly basis. When money comes and goes from your hands that quickly for long periods of time it basically becomes impossible to be frugal with your money.
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The top pros and tournament winners are making hundreds of thousands or even millions of dollars a year, where as the majority of uneducated players (often referred to as “fish” by more experienced players) are losing anywhere from a little bit of money to a whole lot of money.
But if you’re doing research on how much money you can make playing online poker, then you likely are not a top professional, and hopefully you are not a fish.
Can you make Money playing online poker and how much can you expect to win?
The first thing that affects how much money you’ll make is what stakes you play at. All other things being equal, you can make more money the larger games you play. It’s obvious that a game with $10-$20 blinds has more opportunity to win money than a game with $0.01-$0.02 blinds.
Unfortunately, all things aren’t equal and the games get harder the as the stakes get larger. Being able to beat the micro limits is no guarantee that you can beat the bigger games.
Normally it is a case of finding a happy medium. A good stake level to aim for is $1-$2 No Limit Holdem. Tables at that level are usually tough but beatable. Many players are able to beat the games with a strong win rate while multi-tabling 5 to 20 different tables.
Bankroll Requirements
If you are going to play $1-$2 NL Texas Hold-em, you need a bankroll that can support playing at that level.
A common piece of advice that we give out is to always buy in for the table maximum. You might not be the big stack at the table, but you will be in a position where you won’t be easily bullied. The table max is usually 100 times the big blind, so a single table buy in would be $200.
Even if you are a winning poker player, you won’t win every single table you play. You will go on some winning streaks and some losing streaks. You will need a bankroll large enough to ride through a losing streak.
If you have read our Introduction to Bankroll Management then you will know that for recreational players we recommend only sitting down with 5% of your total bankroll so you would need 20 buy ins to play at a level. Therefore to seriously tackle $1-$2 NL Holdem you would need a bankroll of $4,000 (20 x $200).
You can get by with a smaller bankroll if you are willing to play with a higher risk of going broke, or are willing to fund your poker bankroll with cash from an outside job if you lose your initial bankroll.
If you multi-table you may need more than 20 buy ins to protect yourself from inevitable swings. Playing a large number of tables helps even out the fall of the cards, but it exposes your bankroll to problems with your play.
If you have a 20 buy in bankroll, and in general you play 10 tables at once, you could blow 50% or more of your bankroll in a single night. You need a large enough bankroll to protect you from runs of dead cards, as well as streaks of bad play.
A good rule of thumb is that you should have 20 buy ins, or 4-5 times the amount you play at a single time, which ever is more. Thus if you play 10 tables at one time, you should plan on having something like 40 buy ins (4 x 10) to protect yourself from going broke.
Hourly Win Rate
Think of Poker Cash Games as the normal job where you are paid by the hour and earn a certain rate per hour. In contrast playing Poker Tournaments is more like a salesman job, where you work for free (or very little) per hour but earn a lump sum every time you land a big sale (or Tournament win).
The single statistic that is most important to cash game players is the amount of money they win per hour. If you are treating poker like a job, and using that money to pay for expenses, then you want to get paid for the time you put in.
In live poker a good hourly rate was considered to be 1 Big Bet per hour.
Big Bet
1 Big Bet = 2 big blinds. The concept of a big bet is from the old limit version of poker and is equal to two big blinds.
In online poker a player sees many more hands per hour. A full ring (cash) game online deals 60-80 hands per hour, compared to approximately 20 in a live human dealt game.
Additionally online poker players can play more than one table at once. Multi-tabling drastically increases the number of hands you play, and can increase your win rate. Because of this, hourly win rate for online players is usually reported as BB/100, or Big Bets per 100 hands (occasionally as bb/100, big blinds per 100 hands).
At $1-$2 limits, 3 BB/100 is considered good, but achievable, for a multi-tabler. 3 BB / 100 = $12 / 100 hands. If you assume you are seeing 65 hands per table per hour, this means a good hourly win rate for $1-$2 No Limit Texas Holdem is $8 per Hour per Table.
Multi-Tabling Can Increase Your Money Won
$8 per hour does not add up to a lot of money. The best way to increase that is to play more tables. Many people are able to successfully play 4 tables simultaneously. Some play 8-12 tables, and a few people claim to beat the game while playing 20 or more tables at the same time. If you can win $8 / table / hour across 4 tables, you would be looking at earning $32 / hour. Do that across 10 tables and you are up to $80 / hour.
The other big variable is how much time you spend per week playing poker. If you play 10 hours / week @ $80 / hour then you can earn $800 / week. If you play 40 hours per week it could be $3,200.
Software Tools such as Poker Tracker can greatly increase your ability to win playing multiple tables. Instead of having to remember how each of your opponents play, you can see their stats in a heads up display above their name. Find out their aggression to see if they are bluffing, or their steal rate to see if they are trying to take your blinds. If you are determined to give making money at online poker a serious shot, tools like Poker Tracker can pay for themselves in no time.
You Are Not A Machine
Poker is often described as a hard way to make an easy living. Although $3,200 a week is a lot of money, not every one can do it. To win that kind of money, not only do you have to be able to beat the other players, you have to be able to do it while splitting your focus and playing for hours on end.
Many poker players, after they have tasted the success of winning, have found that playing 40 hours of poker a week just isn’t sustainable for them. It is difficult to make good decisions hand after hand for that many hours.
If you play too long and lose your edge, you can find yourself giving back the money that you won earlier in the day. So if you want to try and make money playing poker, you need to find a system and schedule that works best for you.
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How Much Can You Win Playing Online Poker
[nrelate-related]Average Poker Players Yearly Income
The average poker player, depending on what limit can make as little as $10,000 a year up to $1,000,000 or more per year. We’ve found that a semi-top tier live poker professional in Florida playing $5/10 NL deepstacked can make $100,000-$250,000 a year. Even playing at $2/5 NL you won’t see a drastic change as compared to $5/10 Hold’em. You would assume double the money, but with higher stakes comes better players. So assume you average $70 an hour at a live cash 2/5 game, you might only average $100 an hour at $5/10. These are real numbers from real pros in Florida.
But, it all depends on how much work you want to put in, which is one of the main similarities between poker and sports betting. The amount of work you put into making yourself a better poker player will determine how much success you have in your poker career. The monetary side of poker is a nice thing when all is said and done, but it isn’t something you should focus on. If you see yourself wanting to make $20,000 per month, you should set the goal to do so, but also if that becomes a frantic goal it can become very detrimental to your bankroll and a hindrance to your future in online poker.
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Money is Just a Way to Keep Count
The reason you shouldn’t look at money so much as a poker player is because you will have the confidence to have success in the long run if you are good enough. Poker is a difficult game at times, yet very easy other times. Focus on your approach to the game. Good players know when they made the right decision, even when they lose the hand or bust out.
Event selection is important, but it requires a balance. Playing against legit competition makes a player better; iron sharpens iron. Selection is easier online than for live poker events, but the key is picking the right bet limits. Playing online, if you play low limit games over the course of a year, there is no reason you shouldn’t be able to make $50,000 each year. Even at the lower stakes games, there is a lot of money to be made if you put in the hours and you maintain your hands per hour.
Strive to be the best in your poker career. Constant improvement is key. Keeping abreast of the trends in top-level live poker also is key. Event Daniel Negreanu talks about the difficulty keeping up with the next generation of poker pros – and their poker strategy. That’s the point. The best poker players must re-evaluate themselves constantly, which means going over their failures and successes. That takes an ability to assess oneself with a critical, objective eye — which is a hard skill to acquire.
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Bankroll Management & Yearly Income
When you remove the idea of being just an average player, you will blossom into a good player – possibly a great player. Watching on television or seeing the large amounts players scoop for poker tournaments, such as the World Series of Poker, is going to be a dream of average players, but almost never a reality. It takes time like all great things, and to become a good to a great player you have to play the game and put in the hours.
Once you can effectively manage a poker bankroll this will determine how good you really will be. Managing a bankroll is the hardest part of poker for even the top tier players. Tons of players get bored or carried away, or also lose the drive that propelled them to the top.
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Good players can make tons of money or lose tons of money, but it depends on their approach. If you play games beyond your bankroll or for a significant portion of your bankroll, you extend beyond your safe zone. No matter your resources, a person can always outspend their means. Even if you win a big tournament for six figures or more, the reality is you can still go broke if you play in games that are beyond your resources.
What makes the difference for the top tier poker pros is that they manage their bankroll while building a reputation. They get endorsement deals to play sponsored in big poker tournaments. That might sound like the goal, but you may never see big endorsement deals. You want to build and consistently improve your game.
Most good poker player’s yearly incomes should easily exceed $50,000. In fact, it should approach $100,000 or more. Whether you play poker tournaments, cash games, or sit and go’s, you’ll always be a favorite to win over the table or field of players. Once you know the correct moves mathematically and have a better feel for a poker game, you won’t have much trouble winning with more consistency. The biggest part of poker is to be consistent with plays, while adjusting to your table. If your poker table is aggressive, you play passive. If your poker table is passive, then you play aggressive. Good players understand that doing the opposite of what your opponents want is the best strategy.
How Much Do Professional Poker Players Make?
High limit poker players endure serious swings throughout their lifetimes, whether it is from going broke or huge wins. Winning a big poker tournament is a life-changing moment, but so is a year playing consistently. Players like Tom Dwan, Patrik Antonius, and Phil Ivey are the biggest names playing poker today. These guys are the best cash game players in the world today, and all of them got there by working very hard.
How Much Can You Make Playing Online Poker
So how much do professional poker players make? Top professional poker players can easily make over $5,000,000 per year playing poker. The reason is that they know the math, they’re feared, and they read situations exceptionally well.
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If you think about becoming one of these players you’ll have to endure struggle, hard times, and trial-and-error periods. Find the game that best suits you. Hours and years go into making a poker pro. If you are just starting off, you can dream about making what they make, but it is harder to get there today than it was 3, 4 or even 5 years ago. The games are tougher, the players are better, and you need to win a big tournament to have a bankroll to work with.
Where Can I Play Poker Online?
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You can check out our top recommended US online poker sites that we have ranked on our homepage. From BetOnline to Bovada, we have provided in-depth reviews for each US poker site that you will see ranked. Check out the best US poker sites here!