Playing online poker to boost your income?

Karluk

greenoak wrote: »

karluk.

Dont say it evens itself out because it does not - well it does not for me. I have lost count of the times when I am up $20 or $30 to suddenly see it all fall when I have lost $50 on a 1 out call.

I dont think I actually said that 'it evens itself out..'.

I don't play cash tables very often but I think you may be playing above your bankroll. What levels do you play at?

I'm aware that the only guaranteed winners of the game are the poker site owners, but I really believe that if you put the effort in and play to sensible guidlines, it can be another way to create extra income (I can't be the only person in the world making small amounts of money from playing!)

You have to chose games carefully and I think cash games can be very scary as you can lose every penny that you sit down with.

What I'm trying to get across is that if you have built up a bankroll of $1000, then losing $40 because you were unlucky is part of poker and has to be accepted. On the other hand if your bankroll is $50 and you sit at a table with $30 then this is where most beginners go wrong - risking a large percentage at one time.

I was a losing player until I realised what I was doing wrong and I just wanted to share my experience with everyone.

I don't want to push poker as a guaranteed way of generating a regular income but I think for some members, who have not looked at it (who maybe play online bingo etc) it could be an opportunity.

When I first saw the game being played on TV, I thought only clever people could learn how to play as it seemed so complex...I must have been wrong :rolleyes:

Karluk

JimmyTheWig wrote: »

That's what I was thinking. You'd be better off delivering pizzas.


Also, Karl, what is your current bankroll?

What can I say..I'm a slow learner

I know it doesn't seem much but as I have said I only play as a hobby while watching TV and any amount of extra cash will be welcomed by most. Others may want to play more often, or for higher stakes and if they were a winning player, they should be able to generate more per hour.

There are also plenty of freerolls which players can enter and play for real cash or entry into other games, for free.

The best advice I can suggest to anyone who wants to try the game is to start off playing at a level which represents a small percentage of your bankroll (3-5%) and work your way up.

So, after you have learnt the game by playing for free or feel you are ready to play for real cash and if you are willing to risk say £10 - dont play a game which costs £5 just because you can win £25 for 1st - you will lose your money most of the time. You should be looking at playing in a game with that costs just $1 and you could win $5 for 1st.

As another member has already pointed out, there are a lot of bad players at this level and you need to work out the correct way of playing against them - but once you do, it is easier than playing against good players!

With regards to my own bankroll, I have about 20 accounts (and play on about 5 or 6 regularly) and have well over £1000 spread across them (not including the amounts I have withdrawn over the years).

The reason I have so many sites is that they all offer various bonuses (poker advice websites also offer bonuses for joining through them (affiliation)). I have recieved various free poker books (which could be sold for cash if you wish!) and poker software.

I've also had a couple of trips to London and Birmingham to play in live games to win cash or trips to vegas etc but this is just an added bonus.

darlo_fan

Poker IS gambling, you require skill and judgement to play / win.

The lottery, bingo, raffles are by definition, lotteries, as they are driven by chance - there is no skill involved - this is why you can have raffles in school.

Roulette, is a lottery, however, theres a skill to betting strategy some would argue.

That said, well done you.

JimmyTheWig

The thing is, for the amount of time that you have to invest each week to get this money, I'm not convinced that it's a serious money making scheme.

I'd look at it more as a "cheap" hobby. As it happens it is a hobby that is "cheaper" than free.

But my point is that you do it because you enjoy doing it. If you didn't enjoy doing it you wouldn't do it, not for that return on your time.

Indout96

most people can become a winning player

I find that a wonderful quote, I amazed that Vegas casino's manage to make a living. :rotfl:

Roulette, is a lottery, however, theres a skill to betting strategy some would argue

You can bet roulette with a 66% chance of winning but it is rather boring and there is always the 34% chance of losing (slightly more with a double 0 game) over time you should walk away with more than you came with but there is always the temptation to break from the formula and then its 99% luck again :rolleyes:

JimmyTheWig

Indout96 wrote: »

You can bet roulette with a 66% chance of winning but it is rather boring and there is always the 34% chance of losing (slightly more with a double 0 game) over time you should walk away with more than you came with but there is always the temptation to break from the formula and then its 99% luck again :rolleyes:

You've lost me. How do you do this?

Totality

Must admit I tend to do better with roulette over poker or anything else. Tough to keep disciplined though when you've built up a decent bank.

Karluk

Indout96 wrote: »

I find that a wonderful quote, I amazed that Vegas casino's manage to make a living.

When playing poker you don't bet against the house (or Vegas Casino's if you prefer)

They make their money from the true 'Gamblers' playing craps or slots!

I use the words 'winning player' referring to someone who doesn't lose. You don't have to make a million to be a winning player!

persei7

I don't mean to be disrepectful but, from someone one who claims to be making a profit by playing poker, karluk seems to have very little knowledge of how poker sites or casino's operate. Sure some sites don't take a rake but most do. They take a percentage (5%-10%) of the amount being bet.

Unless you are playing against your friends or in one of the few "rake free" websites poker is not a zero sum game. You have to win more than you lose just to break even. The quote "most people can become a winning player" is ridiculous. You may become a winning player by being better than most people, sure! Whether it is worth the effort and time is another matter....

Now I never played roullete but the concept of a casino game where you can beat the house by following a 'formula' tickles me. I know people count cards and things like that but I'd love to hear what that 'formula' might be... If it exists I doubt it is simple and fail safe.

Karluk

Hi persei7

Why do you question my honesty by stating that I only 'Claim' to be making a profit at poker?

I'm not here to sell anything or persuade members to sign-up to poker sites. And I certainly don't want to start an over subscribed MSE Gamblers Anonymous group!

My only reason for starting this discussion was to make interested members aware that there may be an additional way to boost their income.

If you are against playing poker or you don't understand the game then that's fine - I'm willing to answer questions or discuss my methods - but I'm not trying to mislead anyone.


I fully understand the Rake or Buy-in fees that Poker sites charge - thats why I stated earlier that the only guaranteed way of making money at poker is to own the site!

I can't grasp your 'You have to win more than you lose just to break even' comment - if you win more cash than you lose - you are in profit, you don't just break even!

I think what you were trying to explain is that if 10 people want to play a $20 game of poker - the site will usually take $2 off each player as a fee for playing on their site - so it actually costs $22 each to play.

But then if you manage to finish in the top 3 (or top 5 on some sites) you will get back more than your initial outlay = you win and your bankroll increases.

When I say 'Most people can be winning poker players' I mean that I'm no rocket scientist but I manage to show a profit at poker so I'm sure other members could do the same.

The idea behind building a bankroll is that you move up in levels the more cash you have (and you have proved you can win at that level!).

As I say, I started playing $1 games and maybe won $10 a week, but as this was at the start I felt I was doing ok. I now play at the $20 level on one site and over the next year I hope to move to the $50 games - but only if I continue winning and reach a $2000 bankroll on there.

If you only risk the same percentage of your cash (3-5%), then the risk of going broke is minimal because if you start to lose you drop back to a lower level until things improve.

On the other hand if you continue to lose - it's time to try something else as no amount of discipline or bankroll management can turn you into a winning player