Making A Living Off Online Poker
Video poker is one of the best ways to make a living in a casino. That may seem impossible to the average person that only gives action to small casinos or the Las Vegas Strip. There are thousands of advantage gamblers in the world that make enough to support them from video poker play.
Basic Strategy Imperative to Learn
Then, when the video poker machines started coming out in the early ‘80s, I thought it was a lot easier to make money off those than it was from the blackjack games. I started studying them and I began playing them on weekends too. Poker is a skill game in the long run. Therefore, if you use a fundamentally solid poker strategy and consistently play against people who are worse than you, then you will win in the end. However, making a living from poker is not something that anyone can do. I mean after all, if it were so easy, then everybody would be doing it.
Learning the basic strategy of any video poker game that returns at or near 100% is the first step in making a living playing video poker. Our video poker section shows the best play for the types of five-card hands that are dealt in video poker. It is imperative that you not use these plays on machines that do not offer full-pay tables. Some of the moves will change if a full house or flush pay lower than the 100% games.
It is one thing to know how to play. Most casinos do not offer 100% games, and when they do, they are usually for VP games that are tougher to learn. It is nearly impossible to find one on the Las Vegas Strip. A couple of Atlantic City and California casinos offer these. Check out VPFree2.com to find out if the casino that you are visiting offers good video poker pay tables. If they do not, you should not expect to win unless you get lucky.
Getting Video Poker Comps
The Las Vegas locals market is the best place for quality video poker in the world. There are more than 100 video poker machines in Lad Vegas where the pay table returns more than 100% when five coins are wagered. Some games, like 10/7/5 Double Bonus and 10/6 Double Double Bonus, are offered in denominations as high as $1. Full pay Deuces Wild and Joker Poker are common up to the $.25 denomination. These machines also add 0.05% to 0.1% in cash back on the play when a rewards card is used.
It is possible to get mailers with more free play if you give a little action to other games on a visit. This is known as cover play and may help keep you from getting backed off. This type of play can generate offers that may otherwise be withheld.
The cash back is just a sliver of the overall return that can be added to video poker. Expert players know there are promotions that can return far more than a small fraction of a percent.
Many casinos offer point multiplier days. Players that pay attention to mailers or log into players club sites will see special days where more points are awarded. This can be anywhere from three times to 10 times the normal amount. The catch on point multiplier days is that they normally do not apply to the games that return more than 100%. Point multipliers do apply to games that return just under 100%. The goal for the video poker advantage player is to find a game like 9/6 Bonus Poker Deluxe at a Boyd Gaming property or Triple Bonus Plus and Not-So-Ugly-Deuces at a Station Casinos’ resort.
The points can be converted into comps at Boyd at full price or free play at two-thirds the value. Station Casinos points are redeemable for cash back. This requires a visit to the Boarding Pass players center. Free play may be claimed directly on the machine, except for the 100% games.
Some casinos hold drawings based on the level of play during the promotions period. This can be a few hours, a full day, or a week. Every so many points receive one ticket into a drawing with these promotions. Winners can receive free slot play, cash or big prizes like a car. Another form of promotion along these lines is hot seats. That is where an active player is declared a winner from the promotions system. These types of drawings are typically awarded every 15, 30 or 60 minutes.
These types of drawings and hot seat promotions are more common at smaller casinos. The problem is that sometimes there are few or no video poker games worth playing. Video table games are often a great alternative at casinos without quality video poker. Those devices often participate in promotions.
Progressive Video Poker Jackpots
Making A Living Off Online Poker Games
Progressive jackpots are one of the better ways to advantage play video poker in markets where there are no full pay machines. Casinos in remote areas with little or no competition often offer progressive jackpots on a royal flush to entice players to give action to machines that are otherwise give poor returns. These do not always hit when they should and can run up well into positive expectation, especially when combined with other promotions. These can be few and far between.
A 7/5 Bonus Poker game with a progressive would require a royal flush progressive of just over $2,000 to return more than 100%. The same goes for 9/6/5 Double Bonus and 9/5 Double Double Bonus. These are the most common progressive jackpot games. Keep in mind that any jackpot of $1,200 or higher will generate a W2G tax form.
Video Poker Quality Not What It Used to Be
It was much easier for an advantage player to make a living during the 1990’s. That is because the pay tables nearly all returned more than 99% during that era. The reason for this is because sites like Wizard of Odds did not exist. Players had to learn video poker strategy on their own without the help of experts and computer programs.
Some casinos still offer these machines from decades ago. Many are found in Las Vegas. Downtown casinos like Plaza, Main Street Station, Fremont, California and El Cortez spread coins from nickels to dollars. Locals’ casinos like Jerry’s Nugget, Poker Palace, Sam’s Town and Railroad Pass also have coin games with great pay tables.
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So when I read that question in an e-mail or instant message, my first inclination has always been to “set the record straight”. It’s no secret (or source of embarrassment) that players like me aren’t multi-millionaires who have taken advantage of the recent influx of mediocre players to gain access to some proverbial Easy Street. Online poker has provided us with an opportunity to make enough money to justify the long hours we put into it, but until someone has actually “taken the plunge”, it’s impossible to comprehend the trials that poker puts a full-time player through; or the amount of respect that The Game demands from any aspiring player.
Making A Living Off Online Poker Tournaments
It always gives me a chuckle when I scroll down to read the next question that usually follows the former… “How can I make a living playing online poker?” It flatters me that an unknown player would think I hold the key to unlock a universe of worry-free profit-making. I attempt to answer similar questions in a non-negative, yet realistic, manner. Living the life of an Online Grinder is no walk-in-the-park… and it doesn’t exactly lead to a star-studded fantasy lifestyle that most envision. Playing winning poker commands more time and dedication than most “9 to 5” jobs; and can include moments of enormous emotional swings and financial insecurity.However, online poker has been a savior to me. It may sound incredible, but poker has played a principal role in increasing my income, helping my marriage, and providing financial peace-of-mind. For over a year, poker has given my family a positive means of earning income, while at the same time paying for necessities. Oh, it’s been very difficult at times (and will continue to be), but one should expect no less from any employment. The main reason I hold online poker in such a high regard is the fact that it has opened up so many doors to me personally and professionally.
But you’ve probably accessed this article in hopes of gaining insight into how someone (like yourself) can become successful and reap financial rewards from online poker. I don’t blame you. I wish there had been more information on this subject in circulation in early 2005 when I became an Online Pro… it may have saved me a lot of headaches (or I may have ignored it). Either way, my aim in this article is to help a winning online poker player decide whether to turn pro.
Bankroll vs. Expectations vs. Time
It all starts here. Without a proper bankroll, your ship will eventually sink. So we must first ask ourselves just how much money we need to make (on average) playing online poker. If you only require a very small supplemental income, then there’s no need to deposit thousands of dollars into an online poker account. Major poker sites offer low-stakes ring games and tournaments that allow a “budget player” much more flexibility than ever before.
For those who decide to become full-time players, there are plenty of well-written bankroll management articles available on the net; and you should refer to those when deciding how many Buy-Ins or Big Bets to start your professional career with. The amount of time you can spend on playing (and studying) the game will also influence the stakes you play, since you’ll be able to play lower stakes to reach your monetary goals by increasing the number of hours you play each day/week/month.
Multi-Tabling
At some point, you will have to decide what you think about multi-tabling. While many players who can afford a large initial investment can get by with playing only one high-stakes table at a time, multi-tabling is very common among winning players in online poker. In many cases, it’s comes down to simple mathematics. If a low-stakes Limit player can expect to make 3 Big Bets per 100 hands while one-tabling, and 1.5 Big Bets per 100 hands when 4-tabling, then a $3/$6 Limit player can increase expectation from $9/hour to $18/hour (assuming an average of 50 hands per hour, per table).
But a word of caution: multi-tabling is not for everyone. And don’t be fooled into thinking that overall expectation doesn’t drop very much when a player decides to play 4 tables or more at a time… because it does. Most importantly, there is absolutely NO logic in multi-tabling if you’re a losing player. The first step is to learn to beat a certain game/level while playing one table at a time. Until you can do this, multi-tabling should be a non-issue.
Personality & Attitude
In my experience, people who are stubborn are the first casualties when it comes to playing the game for a living. Those who burden themselves with short-term financial goals (i.e. “I have to play a ton tonight so I can cash out and pay rent tomorrow”) are setting themselves up for failure. After all, a player cannot “will” the cards, and this is what leads to the downfall of so many young and capable start-ups.
To combat a popular myth: winning at poker (long-term) is not easy. Yes, there are some players who are far better than others. There are many who display prodigal abilities here and there but are not psychologically built to handle the inevitable downswings involved in poker (or they’re too stubborn to try). Domination is defined by a few percentage points of overall edge; not by repeatedly blowing-out your opponent by 100 points in some virtual sports game.
In my case, I had to change the way I approached online poker in order to keep my mind (and bankroll) intact. While I endeavor to take poker seriously at all times, I’ve learned through experience not to take MYSELF so seriously. Extended bad runs are much easier to handle for players who are good at letting negative things “roll off their back” while continuing to do their best. Playing poker full-time may not be a wise choice for those who take uncontrollable factors (like the cards) personally.
Talent
If I received a nickel for every time a poker player complimented him/herself, I’d be rolling in the dough for sure. Talent is certainly an important aspect of winning at poker, but perhaps not as much as one would think. Once a player comes to terms with the fact that he/she probably isn’t a “natural” at the game, improvement takes on a whole new meaning. Overestimating your talent or skills can lead to horrible consequences for those who aren’t able to separate fact from fiction.
If ever you arrive at a point in your poker career where you feel there’s nothing left to learn, do yourself a favor and take a break. Constant improvement means all the difference when it comes to playing poker for a living. The game evolves daily and learning to adapt to new environments and situations is key. Talent in poker, for the most part, is something that can be achieved through hard work and dedication.
Other Responsibilities
I have a wife and two kids. In the entire mix of things, my family comes first and poker is second. While many full-time players look at exterior obligations as obstacles, I’ve found that appreciating and embracing my family obligations has improved my poker game. There are times when I’d rather spend time with my family than play poker – and vice versa. But for the most part, I don’t have to deal with depression or guilt from outside influences when I sit down at an online table – and this allows me to bring my ‘A’ Game to the table at a much higher rate than many of my opponents.
Whether it’s school, family, or personal relationships, a full-time poker player should be willing to set poker aside from time to time to concentrate on more-important matters. A poker player is only as good as his/her mindset will allow. Breaking your own values by not spending enough time on other aspects of your personal life can lead to a downfall in your profession.
Leaving Yourself with Outs
Let me be frank. Online poker may not work out for you… it may not work out for many in the long-run. There is no shame in leaving yourself with other options just in case full-time poker isn’t quite what you expected.
As I mentioned, online poker has opened many doors for my career. I consider myself very fortunate to receive other poker-related income from writing and announcing that allows me to take short-term poker losses in stride. I’m also proud that I’m able to make money from translating and my part-time radio job here in Mexico City.
Believe me, if I had a full-time “regular” job (especially one that provided health insurance & benefits), I’d hold on to it and play poker part-time. There will always be a game starting somewhere… online poker isn’t going anywhere in the near future. I’d advise any start-up player to maintain employment opportunities and seek other means to earn a more stable income while gradually increasing time spent playing poker.
In Closing
Experience is the number one teacher. Although many of us attempt to provide others with insight, nothing compares to the actual learning experience you’ll receive once you turn pro. Play within your means, bring your ‘A’ game to the table at all times, allow yourself to make mistakes, keep your cool, work on your game, give priority to family and other positive activities, and don’t put all your eggs in one basket. If you can follow all these rules without exception, then you’ll be well on your way to justifying your leap into a new profession.