Don't forget to add rakeback.
I've gotten a number of pms from people interested about poker wondering if you can make good money without having to invest a lot of money. Most people assume you have to be playing high stakes poker to make good money. How I play poker for a living is a lot different than most. I play a lot of tables at the same time, and actually play relatively small/mid stakes, but I play large volume(because of the number of hands I'm able to get in, and the large edge I have over my opponents as opposed to playing higher stakes where my edge would be smaller and I'd need to play less tables to focus more on the tougher opponents) I am posting this as inspiration for people, and to show that you don't need to have a huge bankroll and invest a ton of money to make good money from poker. Here are my last 7 days of playing(dated after July 30th to August 7th because I took the weekend off):
This was done only playing $400 buy in tables(2/4 no limit). As I've said for a while on the forums, poker in my opinion if you are lacking capital is one of the best ways in the world to make money from almost nothing. I've told several of the people who've pmed me poker questions that I'll be making a very long poker post soon explaining how someone could start learning poker as a way to make money. It will be a very informative post about how to get started. I've been very busy working 10-14 hour days lately playing and working on a business I'm launching soon, but I will try to make the post in the next couple weeks. In the meantime, if you have any questions you'd want answered when I do make the post, post them in here and I'll make sure to include answers to them.
Don't forget to add rakeback.
Bill transferred me $1 in pokerstars and I got it up to $1000. 100000% ROI.
Good stuff man -- keep it coming! So you average $10k a month, but you play 12 hours a day? Jeysus, you must have some carpal tunnel by now. You could use some of the magnetic wrist braces from my web store
Just got a sick email. I sent the link to this post to someone I met at the fastlane meetup in Arizona. I did a poker presentation there, and they approached me afterwards asking some poker questions, saying they were interested in making money from poker, etc... We talked a bit, and have been speaking a bit through emails/pms since the meetup. They just told me they had their first $10,000 month last month! Really, really sick accomplishment starting up such a short while ago. Really shows what you can do if you just decide to do something.
Thanx for post snowbank. Awesome work!
Im not a pokerplayer myself (don't even know how to play it), but I have a lot of friends who play online; some break even, some small green, and most lose. But from what I gather this business has a couple of things in common with the stock market: know your risk and apply risk percentage to any buy ins you wanna do, and of course a safety net of stopping out when the odds are clearly in favour of the oppononet (even though if it means losing a bit of dough). One word seems important in this, as in most businesses, Discipline!
Your profile says you are located in Arizona. I assume this is online poker? How exactly is this legal?
So Snowbank --
Is there a "Basic Strategy" that online poker players like you play in order to put the odds in your favor? Maybe you could post some details about this, because I've always been curious. Do you play in no limit tournaments also, or just low limit games? Do you reco utilizing any software programs for analyzing the odds? (I'm sure a guy that plays as much as you has the odds memorized by now!)
Great post Bill, can't wait to read more!!!
Thanks for the information.
Nearly 7,000 hands a day. How do you keep things straight in your mind? I guess it comes with practice.
Reminds me of the movie 21, about the MIT blackjack card-counting team. If you lose concentration for even 5 minutes, you could screw up the odds and blow big bucks. You must be like a monk -- mad focus...
I rarely play tournaments. Cash games are much more profitable, and tournaments are kind of boring to me. As far as using software, personally I don't use any poker software, but am one of the only pros who don't. The program I posted my graph from was put on my computer by a guy I had a prop bet with to track my winnings for a crazy bet we had, so I have that on here but to post the graph was the only thing I've used it for. There are a bunch of programs that tell you pretty much anything you want to know about your game, the odds, your opponents games, equity spots, etc... I'll ask my friends what the best ones to recommend for starting out are.
Great stuff man! I and others here really appreciate your contribution -- Speed+++
Another question -- I know guys who play as a "Team"... Where maybe 3 of them pool money, and get on a conference bridge line with their headsets. They join the same table, and share information with each other about what cards they are dealt, etc to try to increase their edge.
I know this is against the rules of all online poker rooms, but how do you feel about players that do this -- and does it really increase their edge that much to know what another 2 or 4 cards are?
How does this kind of thing impact your game when you're on a table with guys teaming up against you? I would have sworn I've been on tables where this has happened before, because my opponents were just TOO GOOD, and knew exactly when to hold / fold...
Me & Bio have been playing on Pokerstars for about 2 hours... Hitting the .25/.50 room for some practice. I'm down $8 bucks... haha.. At this rate, I'll never make $25k this month! lol...
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