For many established poker pros, online poker has been the gateway to the million-dollar business that can make a talented player a millionaire in a matter of months. The poker sites on the net often serve as a springboard for young players to build up a bankroll with which they can eventually participate in high-paying online tournaments or live events and make their breakthrough there. Others are content to secure a noteworthy side income month after month by playing poker on the Internet. But how exactly can you earn money with online poker? At what point is it worthwhile to quit your job and turn poker into a career? Here you will get all the information about how to earn money online with poker.
Tip 1: Keep a budget book
Before a player decides to become a professional poker player and earn money with online poker, he should calculate how much money he needs every month. This is because living expenses are incurred 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 regularly month after month in order to be able to live from poker. Those who are successful hobby players can thus calculate how much they have to play according to their previous experience in order to come up with this amount. Thus, he can also determine whether his poker career will be crowned with success or rather not.
2nd tip: Use bonus promotions
Almost all poker rooms offer bonus promotions when a new player decides to register and deposit. In addition to these welcome offers, there are also often recurring actions and promotions that are also worthwhile.
With a bonus, the poker player can increase his bankroll, so it is always advisable to accept these promotions. Apart from that, it is anyway appropriate to register with several providers and not only with one.
3rd Tip: Consider Rakes
A poker room is financed by rakes – these amount to an average of 5% of the pot or 10% of the buy-in for a tournament. Those who play a particularly large number of hands often receive rake back offers. These can amount to up to 30% of the rake.
In this case, the player receives a part of the rake back once a month. Therefore, it is worth choosing a poker room that offers a convincing rake back program. In addition, recommendable providers are characterized by further reward systems for loyal customers, such as a VIP program with a loyalty points system.
4th tip: Maintain discipline
Anyone who plays poker professionally wants to earn money with online poker. This means that the person does not simply play poker for fun and pleasure, but pursues the idea of being able to live from it. This is a self-employment, like any other. This means that certain working hours have to be kept and it takes a lot of self-discipline to be successful.
Even a self-employed person can’t just take time off when they feel like it or just go on vacation. In addition, it is not enough to simply rest on one’s laurels after a particularly successful game. The point is to improve continuously and to generate profits in the long term.
Tip 5: Minimize risk
Minimizing risk is about identifying and reducing potential sources of danger. One way of minimizing risk is to prefer playing with several smaller stakes rather than a single large one. Self-control is also part of the process, as many poker players frantically try to recover the lost money after a loss. But sometimes there are days like that, when everything goes differently than planned and luck cannot be forced after all.
The pressure that arises when not enough money comes in also has a counterproductive effect. That’s why professional poker players react calmly when they still lose once. By the way, most poker rooms offer the possibility to set limits in the customer area. Depending on the provider, it is possible, for example, to limit the stakes or the amount that can be deposited weekly or monthly.