How To Make Money Playing Poker Online – The origin of poker is a bit of a mystery. Some say it is a derivative of a game played in ancient Greece. Others say it comes from a French game called
We may never know the true origins of the game we now call poker, but one thing is certain: poker has changed a lot over the years.
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In its infancy, here in America, poker was a game played only by the toughest cowboys and outsiders. It remained that way until the 70s when players like Doyle Brunson and Amarillo Salem made poker their full-time jobs.
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It wasn’t until the early 2000s that people started trying to make money playing poker online, thanks to a little thing called…
In 2003, an accountant named Chris Moneymaker deposited $40 at an online poker site and entered a Texas Hold’em tournament. Prize: A seat ($10,000 worth) in the World Series of Poker (WSOP).
His first WSOP. Millions watched, and knowing Chris’ story, they flooded online poker sites and changed online poker forever.
There are many players who have made money playing online poker after The Moneymaker Effect, but one, in particular, is Phil Ivey.
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Not only is Phil Ivey one of my favorite poker players, but he is also a huge advocate for online poker. Anytime online poker is being discussed, Phil Ivey – aka: “The Phenom,” “No Home Jerome” or “The Tiger Woods of Poker” – should be mentioned.
According to HighStakesDB.com, Phil Ivey has earned over $19,000,000 playing poker, making him the highest (recorded) earning poker player in the world.
However, Phil Ivey has been playing poker for many years (starting back in the 90s when he had to create a fake ID to get into casinos), which means that some of his income did not come from online poker. Some, instead, came from real-world events.
Since it’s impossible to know for sure how much of his income is from online poker, I thought it best to mention one more poker pro.
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Tom Doan, known by his screen name, “Durrrrr”, is an online poker prodigy. He is one of the most feared poker players, and he is a direct result of the Money Maker Effect.
Tom made his first $50 deposit on an online poker site in 2004. By 2007 he had earned over $312,000 – all of which came from online poker.
Someone like Tom Doan can come on the scene and make millions in a few years because online poker moves at a fast pace.
Online poker allows you to play at as many tables as you like. Most professional players have six to eight tables at the same time. This is called “multi-tabling”.
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Not only does this increase the player’s ability to earn more money faster, but it also allows them to recover from losses faster than in live games.
If you watch events like the WSOP, or Poker of the Dark, you’d think it’s all aces and kings, but it’s not.
Good poker players fold about three-quarters of the hands they are dealt from the start. As you get many more hands online, you are going to fold more often.
In fact, extreme boredom is one of the reasons why many players like to play as many tables as possible.
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The rules aren’t always very clear, especially in online poker (obviously). But they still exist. The way you bet, when you bet, how long you wait – they are all telling.
Every poker site has a hand history function that allows you to go back and see all the hands you played during your last session.
It seemed that hand history work was enough. Although the process took hours, everyone did it. Now, software like Poker Tracker is used.
Being an online poker player without this software is like entering a drag race on a bicycle. You will lose.
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The problem is, online poker only evolves as much as the rest of the internet. Every year, new software is created that gives you a competitive advantage.
For the most part, the initial costs of becoming an online poker player are simple. You need three things:
This is the minimum deposit at most any poker site. You may find some that need a little less, but I’ll clean them up.
I have already mentioned, hopefully, you understand how important it is. You cannot play online poker professionally without this software. There are two versions of Poker Tracker. The basic version costs $59. For the full version, you’ll pay $159.
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In poker, money is your tool. If you don’t have one, you can’t get a job. A bankroll is what you set aside to play poker. This is your toolbox.
At a minimum, your bankroll should be twenty times the amount of your purchase. So if you want to play at a table that requires a $5 buy-in (a pretty low buy-in) your bankroll must be at least $100.
I’m not talking about the day after Thanksgiving when you go to the mall and find people fighting over game consoles and big screen TVs.
For reasons that are still complicated and unclear to me, the US government charged websites like PokerStars, FullTilt, and many other poker sites with illegal gambling.
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What is important though, is that millions of American players have been deprived of their main source of income without warning.
There is no way to know for sure how many of them were making a living, but we know it was more than before.
The laws are still a bit sketchy, but slowly, American players have been able to find sites that allow them to play. It depends on where you live, and what sites you want to play on, but in some cases, US players can still legally play online poker.
Unfortunately, online poker players can suffer from the same thing that affects many entrepreneurs on the web: relying on your income on a platform that you do not control.
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You can find a million “make money online” programs out there that sound great. But the truth is, like online poker, most of them are subject to someone else’s rules.
You do it on a website that you own and control. It’s like owning virtual real estate where you can build your online business. But instead of paying $100k+ for a bank loan and another $2k/month for storefront rent, it costs as little as $11/year + $10/month to run an online business.
If you like to play poker there is a huge market for coaching, software purchases, information, and even entertainment content. People are already doing it with fantasy football, so why not poker?
If you enjoy talking about poker you can create a website and become an affiliate for companies that sell poker related products. An example of this is Poker Tracker software. This is something that every player needs.
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If you have a website that helps new players, then you introduce the tool to them, they will definitely buy and you will get a percentage of the sale.
No matter what you want to do – poker, movies, building a chicken coop – the best way to make money online is through affiliate marketing.
There are thousands of different side hustles you can do to make some extra money on the side, and what “clicks” for you depends on your personality and goals. However, there is a side hustle that makes a crazy amount and works for everyone.
Starting an affiliate website is an incredible way to make extra money because you can do it from your home on a laptop, and work on your business in the evenings and on weekends. The revenue potential is huge, and it’s easy to scale
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What’s up ladies and gents! Finally nice to meet you, and I hope you enjoy this post. My name is Nathaniel and I am the owner of One More Cup of Coffee. I started my first online business in 2010 promoting computer software and now I help newbies start their own businesses. Sign up for my #1 recommended training course and learn how to start your own business for FREE!
I’ve been blogging for profit for over a decade, and have made six figures blogging in a variety of genres, including computer software, self-help, and home and garden topics. I do things a little differently, and I hope you like my perspective and my learning style. Making money playing online poker is easy. No, really – at least if you follow some simple strategies and know what to take advantage of.
This is by no means a complete guide to making money playing poker online or offline. Nor is it stupid. While poker is a game of skill, it does involve some luck. Just ask Phil Helmuth, who once famously said, “I think if luck hadn’t been involved, I would have won them all.”
But if you’re determined to play free poker tournaments and want to advance to the next level from practice poker games to the real deal, it’s actually relatively easy.
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