Who Makes Money From Professional Poker?
ฝัง
- เผยแพร่เมื่อ 20 พ.ค. 2019
- Poker is a game of extreme variance. Professional poker players can go stretches without winning or placing at a level that earns any cash. The wins, however, can make up for the droughts with players earning thousands to millions of dollars depending on the game or tournament entered. Considering poker is an inconsistent sport, players look to offset the risk involved. This is done through staking, where an "investor" will pay a player's way through tournaments for a piece of the action.
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Who Makes Money From Professional Poker?
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The answer is the people running the poker sites, casinos, and home games.
Words of a losing player, Papi!
@@natd3361 I don't think making $100k-$200k is much in the grand scheme of things when poker sites are making 250mm/quarter
They shoulda made a 20 minute video strictly on Pot Limit Omaha hahah
joeingram1 papi why you block me on TH-cam ? Love all your video’s nr1 on TH-cam :-)
More Rake is Better
When i realize that i was just watching a full ad of youstake at 21 minute mark...
So it's about gambling on gambling.
Pretty much just like the stock market! Don't forget that probability has its roots in the analysis of games of chance.
@@terrypotato Come on man... you can't compare. Everyone makes money in the stock market in the long run. In gambling people lose everything in the long run.
@@Richard-yy8tn You're more wrong than you're right here, and you have very little right. Yes, the market makes money in the long run, but that does not equate to everybody making money. Plenty of banks, funds and traders have gone broke by not managing their risk correctly, and/or betting against market direction (either at a macro or micro level). Individual managed returns have also largely trailed the market returns.
Secondly, poker is (essentially) a zero-sum game, not a house game, meaning you're not playing against a fixed absolute house edge, you're betting on your relative skill advantage vs your opponents (very similar to trading markets). The house only takes a fee for administering the tournament, you're not betting against them. Plenty of people have been profitable over an extremely large sample spanning several decades.
You could say that, but its more similar to diversification. Its very difficult for individual players to press their edge over a large sample, because each tournament is so time consuming yet also relatively infrequent, with long periods of no returns broken up with oversized windfalls, meaning risk of ruin can also be quite high if bankroll management isn't employed correctly and/or the player goes through an extended rough patch.
So it becomes a question of, would you rather stake a) 1 player with a 10% edge on the field, or b) stake 5% of 20 players with a 10% edge? With the second scenario, your individual return will be smaller for any specific tournament, but your ROI will still be the same, with much less volatility and more frequent payouts.
@@davidoconnor1773 It wont matter if you buy an ETF. And the fact that the market is backed by the Treasury.
The longest ad I've seen in my life. I wonder how much CNBC gets in kickbacks from the crowdfunding guys.
Cant forget about the rake lol
I quit the video and click on it till it disappears. I hate these ads. youtube red messed it up for us
I agree. This nothing but an ad.
You have to understand that everything you do at the poker table conveys information.
*need, sorry
You can be all loosey goosey, eating a sandwich
Negraneu?
Go watch live at the bike troll man
@@poppy69golfer14 it's Daniel Leatherman now that he's gotten married
Sounds like a commercial to help you get rid of your money.
Yeah if you're ass at poker
yup. Just like a college degree that puts you in a debt for next 30 years...
Didn't you watch the video. Get a backer.
I've been playing poker for 22 years. Its the only game with no house advantage. Lot of casinos are getting rid of poker because they aren't profiting from it.
@@SerbyWafflesTech they make plenty of money from the non stop rake going on at the 50 plus tables every minute of every day
Very well-produced commercial. Great job trusted news media outlet.
@Joseph Lauren same same
Commercial for what?
@@blueprint7 Stake Kings
@@blueprint7 your food
Stake Kings ad. produced by CNBC
Sigh....
And its soo corny
can you give me the timestamp where it says that? i cant seem to find it
Who else is here because of the SEC v. Ripple lawsuit?
me
Me
I hope Ripples lawyers are in contact with Youstake's lawyers.
@@everythingelsewastaken 😂😂😂 They probably are...
SEC wants their cut of the money.
EXCELLENT video, very well done by CNBC telling the story of how staking works. Makeup is usually what buries a player for good... all about great money management and having no vices/life leaks.... very few can honestly do this successfully
For 50% of the win and you still owe the buy-in (whether you win or lose)? How is that not a predatory loan sharking crime? Hot gambling addict! WOW. I'll be the bank. You bet anything you want to. You get 1/2 of true odds. I get the other 1/2 and you still me the buy-in. "Makeup" preys on addicts. It is a crime.
@@bluecadillac I'm obviously super late but anyway... you don't owe anything to the staker in a literal sense. But to make any money for yourself you have to get out of the makeup first.
I've been watching poker on and off for like 10 years and truthfully, this is the first time I heard about staking. Very informative. Nice.
Then you haven't been watching it for 10 years.
side bets.
prop bets.
staking.
is a daily occurrence.
As someone that does play poker for a living, I strongly recommend sticking to cash games. Sure, the huge potential payouts aren't there, and neither is the glamour, but it's far more consistent and having a backer is much less important. You don't need as much of a bankroll to sustain yourself, as generally speaking, a hundred buy ins of the stakes you play at is fine (plus a buffer for living expenses, as mentioned in the video). Taking 1-3 No Limit as an example, 500 is usually the maximum buy in for that game (depending on some houses). So for a professional player, having $50,000 is a very safe poker bankroll to have. And on a tax note, tournament winnings are reported to the IRS whereas cash game profits are impossible to track. Not that I suggest tax fraud in any way. You should always report your full and proper winnings to the Government. Of course.
It won't make you into a millionaire overnight, but it's certainly something that you can consistently make a comfortable living doing. And as you become a better player and increase your bankroll, you can increase your stakes to the 2-5 and 5-10 games, until you are making six figures a year. No backers needed.
Right! Cash is a far superior form in so many ways. Tournament is a different beast... it truly is law of large numbers. I am almost never forced to flip in cash games
I actually dont enjoy tourneys nearly as much as cash games.
@Hawk Who Knows All Yeah, America. Ya know, where a large percentage of the professional poker player base comes from. So your "nobody pays tax on winnings" isn't even close to accurate.
IMO cash is the best way to improve as you touched on but I wouldn't scoff completely at tournaments. Generally speaking, if you put in the work to get good at cash, your edge in tournaments will also increase greatly as the the fields are generally softer.
@Hawk Who Knows All All poker/ game of change winnings are tax free in the EU! Viva la EU
"Who Makes Money From Professional Poker?"
Not Dan Bilzerian.
Hahahahahahahahahahah
Nicr
the house always wins
dude is a fraud
lmaooo x)
The gaming attorney is the TOY COLLECTOR FROM TOY STORY 2 HAHA
Nicholas, Are you saying he is not an attorney? He is only an actor? Does Wayne Knight (www.imdb.com/name/nm0001431/) have a law degree?
I've actually been waiting for a Poker Video like this one. Thanks CNBC.
If you're good at poker why would you want anyone to stake you I don't understand that I've never asked for a stake or would want one.
It’s funny how CNBC didn’t stumble upon 2 + 2 staking forum
The Casinos. About 4% of all professional poker players are profitable over the long term. Everybody else is a lifetime net loser in poker.
Hahaha, just like the stock market, yet im successful at poker before i joined the stock market, and then i realised, they have the same decipline and same account management and psychological capabilities.
These things look seriously tough, but they aren't if you study well enough, it took me 3yrs to perfect the stock market cus everything they were teaching me was the same as playing Poker! including position sizing and initial trade plan
You're including the rake in that 96% figure? Otherwise, that is way overstated.
Can you really be called a professional poker player if you aren't profitable?
@@ph34rocious Yes. Most of them aren't. Lots of financial advisors don't beat the market and they are calling themselves professionals. Same thing.
@@Myor824 You misunderstand what a financial advisor does then.
I'll never forget watching Chris moneymaker playing. We were 12-13yo at the time and I started hosting games at my dad's house with friends from school. I was never really good at sitting there for hours to play but some of my friends were pretty good. Everybody thought they were gluing to be the next millionaire poker king at that time.
ahahaha same.
I hope from this video you will learn that staking is often a TRAP in combination with taxes etc.
Disagree! If anything, it's a great way to hide income.
I $%#&ing love investing in poker! :D
I'm not convinced in that. If you're well connected in the poker world you could theoretically diversify your stakes and come out ahead or at least break even.
@@ThisHandleFeatureIsStupid investing and poker dont belong in the same sentence lmao
@@1x0x Speak for yourself, champ.
More than 15% of my income comes from poker.
This is exactly like an infomercial.
Ooooooh now I see why there’s randoms not just family members cheering when people do well at the final table. I always thought they were fans or something LOL. Ain’t no poker players that are loved that much by regulars haha good video CNBC
Well I mean I love danial there are some
Thanks CNBC. The poker community appreciates it!
Sooooo how much did they pay for this commercial?
Poker is done now so this is a kind of post-mortem autopsy of the bubble
@@daft9inety6ixer57 ikr, who are these poker stars :DD
@@wladunas They're grinders with more money than you. Poker is not dying. A no name just won 5m earlier this year after satelliting to a 25k.
Millions, poker is a big industry lol
open your eyes. its not a career its just gambling.
A very well done video explaining staking in the poker world
Would you stake me Jeff based on my stats? Only played a few live games, but got a few cashes. Being broke just sucks.
www.globalpokerindex.com/poker-players/yosef-kamil-901151/
@@youngingbrown no, nobody will stake you. You need to grow your own bankroll. Dont expect anybody to help you. Also its significantly more satisfying to do it yourself. I've been playing cash games for over a year. Strictly my cash. Started at 3800, and now I'm over 14K
the ads are getting smarter
CNBC, this is it, chief 👏🏾🤣
CNBC creating great content for YT.. I like it.
hellasow I'm dying to get back on the tables too.
this was boring af
The dude doesn't even know what prorate means. Great teleprompter work, most proffesional MSM this side of NK.
#AMC100k
Great video. Another great video on the tube is the one where Helmuth tilts and burns thru multiple $100k rebuys like it’s his job. I wonder how his backer reacted to that. “Give me another hundred” lol.
Do the individual tournaments allow stake/backing deals to be registered with the tournament? The casino would pay the player their agreed upon percentage and the backer theirs. This would prevent whoever cashes out from running off with the money. It would encourage more staking and backing which is good for the game and therefore good for the house.
It would also protect the backer from a player trying to sell more than 100% of the action.
So in a nutshell, investing and leverage. Very groundbreaking
*in poke.
You can make everything sounds dumb with a right phasing. For example: you.
@@kyo250996 Oh, youre totally right. I'm gonna delete my comment right away
5astelija
It's called free rolling, investor loses, player breaks even or wins. Awful for the investor, most poker players are scum, your horse can easily dump all his chips to a friend, leaving the investor with looses.
hedging not leverage.
Dog wag you have no idea what you’re talking about and is a great way to ny get staked.
Poker Pro: "Law of large number is on my side"
Me:
0:42 Just a random Günter Jauch showing up
Who wants to give me money? I'm an UNO pro.
@Millian Macalintal yo let me stake you
I will I will
WBsteve I will give you UNO dollar.
Here my friend are 5000 Indian Rupees. Invest them well.
Plus 4
"I"m proud of being backed" - yeah.... I'm guessing whoever you owe 50K in makeup to isn't quite so proud
Strange thing to say for sure.
Really, really, really interesting video. Thank you for producing this, CNBC.
So basically gambling on gamblers and your chances of losing are exponentially greater then gambling on stock markets. Nothing can go wrong there at all.
Nope, you’re betting on who is going to win. It may be riskier for other reasons but not because the path is longer
You know the disclaimers if you know enough to talk about stock markets and gamblers gambling on gamblers! LOL
And then covid 19 came down on earth
Keep up the great content cnbc
"...at aayyyy...... soccer camp...(?)" good save jeff
"THomas Canoli" lol
"Who Makes Money From Professional Poker?
"
Uhm, professional Poker Players?
Tim Rechner i have no idea what that title is saying lol
Lots of people actually make money. First, the hosts of the game will charge rent or rake, or alternatively tournament fees. To win in poker as a player you must first be better than your opposition by at least the margin of those deductions. The house always wins - even in the Poker Room.
Tournaments also make money for sponsors.
And of course, backers make money too.
But the professionals making money are mostly people you never or rarely see on TV, because they mostly play in cash games rather than tournaments. They do this because there is no exposure to unlikely tournament freeze outs. (elimination)
Did you watch the video at all?
@Peter Lustig . Your wrong. The house makes most of its money on slots and the amount of good players to the bad ones puts the odds in the houses favor, They make money no matter what, so even someone making a couple million on poker or blackjack wont put a dent their. We have a place to play because all the other idiots are losing
It’s always a safe bet to not believe poker players on how much money they’ve made
This is not about poker. This is about poker tournaments.
Yes and that’s what they missed in the story. Like my comments above “staking” is known from way back with shooting pool. But really it makes sense with these tournaments because a lot of them have some big finish money
We were doing this for bowling tournaments back in the early 1990s I was part of a stable with three other guys and we had one financial backer she took care of the tournament entries and we split the money with him if we won or cashed
Pool was traditionally a sport or game that involved staking from way way back. Movies like Color of Money and actually pretty sure mentioned in The Hustler with Gleason and Newman. Pretty sure Jackie Gleason had a real life interest in staking. But there’s definitely a history in Pool with the topic
Thanks again for another detailed video,value after value,can't wait for your next videothis is golden knowledge guys take note and start,
Hard to win at poker. Even harder to win backing poker players. The real money is made by casinos and websites.
Clearly you never played Good Poker, at a casino with a bunch of drunks
@@thomasostrowski4286 ive done it many times and many times been stacked by them for hitting 1 outer on river... poker may be some skill but without luck involved it wouldnt be gambling which it is
@@e36fanatics chance is part of the game for sure but poker is a game of percentages. long term play is what separates the pros from the rookies.
@illusory Big chunk of casinos don't even get a single 5-10 game going. Weekdays most places are full of regs burning rake and giving chips back and forth in flip spots. Now what can a really good 3-5 player realistically make factoring wrong side of variance streaks and having worthy advantage only on weekends? Maybe 100k if they are really REALLY good? There are cities in US that kind of pay doesn't even crack low income line. Reality is very few people in poker make good money outside of card room operators and online poker sites. Heck with proper bankroll needed for 3-5 one might as well learn to day trade stocks if feel the need for gambling aspect. That way at least if you are in the 5% to survive learning process you can make real money. But I am sure you are poker pro making countless millions.
7:48 that moment when he rotate his ankle while trying to recollect past events, feels like he is lying..
Very good,very imformative video. I enjoyed this very much.
Unlike any other media report on poker this was extremely factual. It did sound like a commercial for the backing sites but was nonetheless right on point.
So YouStake and Stake King just bought a full 20 minute ad on CNBC?
I learned how to play poker because the Moneymaker Effect !! 🤑
i learned because of Phil Ivey .. and now i think he is impulsive, lol .. or maybe im just too robotic
Thanks for this amazing video #nbc.
Paid commercial for staking sites?
100%
FTC regulations require a producer of content to declare when a piece is sponsored. yes, this is certainly beneficial to the staking sites, but CNBC wouldnt be that stupid to risk massive fines over a youtube video for violating FTC regulations.
Bring back online poker to America!!!
It's back and legal if you live in Delaware, N.J., or Nevada.
When you play the Devils game... you never win at the end. Uncle Will
@@sgt.pepper4274 yeah... all the sharks are trading the same $100 amongst themselves waiting for the fish to contribute.
@@captzero007…. nope, I just played in a tournament with a $10 buy-in that resulted in the winner making $6500. Additionally, there are $1000 buy-ins that pay $130k to the winner. Dan, u have no idea what ur talking about.:)
@@williamnordeste9653 ???
Poker is like trading in the Stock Market....Bloomberg missed this insights ..Thumbs up to CNBC
Is there any stakes baccarat? If there is where could you access to it.
I need this back when i played alot
Chris Money Maker 2003 WSOP winner
In 2004 there was an NHL strike and the sports channels filled programming with poker
Musta seen that Money Maker win a hundred times
It's curious CNBC didn't talk about the issue of conflict of interest when a financial backer is playing in the same tournament and even sometimes on the same table as the person they have a stake in.
@Micheal Williamson Poker is not a team game. Conflict of interest means you won't be playing poker as it is meant to be played. If at the same table as a person you staked, you'll be playing with leniency to that player. Other players dont know there is some level of cooperation.
Playing at the same tournament isn't a conflict of interest. Only when at the same table. And that's for the casinos to catch.
Hmm...sky's the limit/wide-open for collusion/corruption...deal me in, suckers
Jeffrey Youngblood what is it against the rules of poker tournament to play against people to have a stake in?
Because this isn’t a news story, it’s a fkn commercial.
CNBC IS KILLING IT!!!! great video you guys
@2:30 imagine playing poker indoors with full reflective sunglasses 😂
I got interested in poker the year before Moneymaker, also by watching on ESPN. After moneymaker, played online for a while. Started with $100 on Party Poker. Played all night the first day in a 1/2 limit game. Ran well in an incredibly weak game and made $84 that night. Played online for an hour or so almost every day for the next few years. Ran it up to a bit over $10,000 in 3/6 limit and lower, 1/2 no limit and lower, sit n gos, and a fair amount of deposit bonuses. Cashed out as I went, never kept more than about $1500 on the site. After UIGA passed, Party Poker excluded USA players and I pretty much quit playing online. I did play a bit on Full Tilt but luckily I lost interest and pulled my money out well before they shut it down and the player money disappeared. That was some real run good.
Put the winnings into stocks around 2008/2009 to buy low as the market came apart. Grew it to $36,000, sold in late 2018, and used it to pay down some of my mortgage early.
So no million dollar winner here, but a pretty good return on $100 and I had a lot of fun playing.
10:33 Can I Stake you?? But not with money !! Lol
LOL! Sounds like *YouStake* called the SEC's bluff and won.
The big dogs might threaten with their large jaws, but sometimes small dogs catch them off guard and won't stop biting.
Have played poker for about 2 years now. 300 sessions over 2 years 6 hours a session at the 2/3 game. Variance is simply very difficult to beat in the run. I'm up maybe 9k not much.
living in Thailand in the 1970s one of my friends regularly made sponsored trips to Las Vegas about twice a year ( when the main tournaments were held returning to Bangkok with about $25,000-$35,000 in his share of winnings..
There were no such tournaments, he was lying to you. He probably got that money from selling drugs.
Think about it a second: If those pros win money in the long run, there are those poor bastards loosing too much money on poker tournaments. They are just not considered "pro" and there is probably none backing them.
Just a lot of people with a severe gambling disorder.
Most of those are enjoying a hobby. They are paying for entertainment. Also, everyone starts as a losing poker player - at some point they have an equal chance at becoming a winning plyer.
@IloveBlender *losing. Huge differences between losing and loosing. They have completely different definitions.
There are also a lot of wealthy people playing poker who can afford to lose. Not every losing player is a degenerate gambler.
It's not a 'severe gambling disorder' if you have other sources of income, then it's just a 'hobby'.
My friend is a pro technically. Brandon Miller you can look up his wsop rankings. Yes he’s won 90k-20k and recently 18k with a total of over 200k in winning. The 90k he blew in 5 months playing poker the 18k he just won a month ago was gone in 2 weeks all playing poker. He’s always broke and most of the time he wins 5k he has to give almost 4K away every time because someone is buying his action within the course of a 4-5 day tournament plus the drive and hotel he’s lucky to go home with $200. So yea he’s made close to a quarter million dollars he’s probably lost more than a million. Poker is not the way if you have a gambling addiction.
7:44 Thomas Cannoli 😁😆😅🤣😂🤣
1:24 guy talks like Kevin from the office lol
I refuse to be backed or back another player. Invest in yourself
Jon Jones how many hundreds of thousands do you spend on Tournaments entries?
Agree.
I think there's a lot of value to be realized from selling 480% of your action in a tournament.
Do the individual tournaments allow stake/backing deals to be registered with the tournament? The casino would pay the player their agreed upon percentage and the backer theirs. This would prevent whoever cashes out from running off with the money. It would encourage more staking and backing which is good for the game and therefore good for the house.
It would also protect the backer from a player trying to sell more than 100% of the action.
@@vegasjay2326 The casino would want a 10% cut for 'administration' lol.
Contracts are written up but it's like a business investment, you aren't going to get involved with a partner who might cut and run and there's safeguards against that, like a reputation to protect etc.
Seems to me that would be a pretty good scam.. if you win a tournament then you sell 500% stake for your next few tournaments. Then you lose on purpose. Its ALWAYS easier to lose than it is to win.
If you think about it.. they higher a player is "staked" the less incentive they have to win.
@@redwolfexr Have you seen The Producers? That's essentially their plan. Oversubscribe the investment and pocket the surplus when it fails.
@@davidtucker3463 nope, might have to check it out.
So well done! Thank you for having me as part of this.
Do the casinos take income taxes out right away from the winnings or do they award the prize with no taxes taken out and it's up to the winner to report the income to the IRS?
Try telling this to Phil Ivey 😂
his gaze melts steel beams
Big White Duck alot of old time pros went broke and borrowed money thats just a farce u think they didn’t
Phil Ivey is staked!
😂 simply put "Venture capitalist funding semi-pro and pro poker player"
- Seed Money & Series A to C!
I used live in Las Vegas and the cost of living is much cheaper than a lot of places and you really don’t need more than $10,000- $ 20,000 to make a living playing poker if you are really go at it. But you have to start playing like $50 tournaments.
Is it just me or one of the guys being interviewed sounds like Daniel Hardman of Suits series? Haha
I didn't know the awkward guy from High Fidelity was a poker pro.....
People doing a thing professionally on ESPN have sponsors. Is anyone really surprised?
P
Really awesome 21 minute commercial for online poker and casinos
does this company function as some sort of escrow and take a percentage of each stake?
The background music has spikes of high pitch ear piercing tones
Why ?
This needs to be answered. It cannot be an accident
Brainwashing
Subliminal messaging to get you to deposit on stakekings....
Its the irs
To annoy you while you watch a free video on the internet you troll
Exactly what the stock market and Goldman boys do. Packaged as "Emerging markets poker i mean high growth fund".
CNBC is turning me to be a poker player 😂🤣
A shockingly accurate explanation of staking!
When will Poker Players realize that the money is in Running the game, not playing the game...It is very subtle, but so important to understand, that the title of this piece is: “Who makes money 💰 from professional poker?”
Huh?
They won’t because most players are stupid with their money. I know a couple pro players. If they didn’t have backers they’d be homeless. They live win to win witch isn’t easy they’ll prob lose 10k a month to take home 2k profits.
"Molly's Game" is a prime example.
If it was so easy everyone would do it
Chance Robinson , true. That is why most poker players are broke
The Corleone family is now staking players. Don't worry about getting in debt.
That's why I only borrow from the Giacalone's ;-)
Think about it as leverage in business or margin in investing - the potential to expand biz/have greater exposure to investment, but, the also the significant risk of becoming indebted just as quickly -
The video didn't even mention the cut the tournaments take, which is significant, or the other expenses of the profession, such as travel and hotels. Who pays for those expenses?
THEY money behind pro poker
🤦🏻♂️
An infographic at least one person had to approve after it was created. I just lost that much respect for "they" channel.
I'm happy with 2-3 buyins at a local cash game 🤑
Shouldn’t gamble at all. That’s the basics to getting rich. If you were to play poker. I would play tournaments instead of cash. You invest so little to win so big. Where as in cash, you’re grinding for eternity to make what you could have in one tournament.
Kev Dawg you’re absolutely right! Thank god I had the will to quit after being a junky for it. Playing 3 day sessions without sleep. Losing 200k in the past 4yrs. I admit, I had no discipline. I just loved the game too much. Never wanted to walk away.
I played one big tourney in my life. It was the MSPT in Battle Creek, MI. Won a $1,100 seat by playing a $75 satellite. Finished in 99th place out of 2,900. Which rewarded me $2,750. 1st place was at 220k, 2nd place was at 190k.
Now which cash game will pay you out $220k for a $75 buy-in?
Chris Moneymaker, $40 satellite earned him $2.5 mil. Where else can you buy in for $40 and win 2.5 mil?
Cash games are for dummies, and egotistical men in my opinion. Who do it for entertainment. Tournaments are for true poker players.
@@eddilovee cash is a real poker where you make money by exploiting the opponents, in tournaments its the same but there is a lot of luck involved due to the increasing of the blinds.
while its absolutely possible to start with 75$ and play only cash games and reach 220k, it just takes a lot of time and incredible discipline.
while those stories with 40$ and made 2.5m he has been very very lucky
@@eddilovee thank you....i havent laughed that hard in a while......i once believed this lie.....but i had to live it to understand.....let me break it down.....u have 100 dollars....u can ....buy weed..booz.. strip...dope...movies... eat out...ect .....or u can find a cash game and say.... im only playing when i have a read on a donk.....a drunk...a whale. ... a gambler ....u find ur cards and find these guys bullying u because u slow played a monster....and u do it...to many over 1 session and boom 2000....now u have a bankroll....this is how became a low level pro....meaning i am contempt destroying gamblers thinking they are ahead and i grind no more than a 2 / 5 ......300 to 1200 in 6 hours is enough for me not to lose 100k chasing 100 buy in tourneys to hit 10k...
UNIQUE LoL apps for some one like Doug Polk, I can see turning $75 into $220k. Trust me, I was no average poker player. There weren’t too many poker tables I sat at without being complimented on my game from pure strangers. I played all across the U.S. full time. Name me a city, and I’ll tell you the closest casino to it. I played at the Harrah’s and Sugar House in Philly. Horseshoe Hammond, Horseshoe Council Bluffs, Horseshoe Baltimore, Horseshoe Cleveland, Jacks Cleveland, Jacks Cincinnati, Hard Rock Seminole Hollywood, FL, Aqua Calienta Palm Springs, Ca, Firekeepers Michigan, Ameristar St. Louis, Ameristar KC, Hollywood Toledo, Hollywood Aurora, IL, MGM Detroit, Motorcity, etc.
I played all kinds of Poker. My only lesson for you guys is. Don’t end up like Stu Ungar.
This is not news..thanks for catchinv up..took you....20 years?
Funny how you have to negotiate with a regulatory body because it’s more important for them not to have a judgement on paper specifying an outcome as opposed to clearly defining the law. That way they can continue to operate in the gray…. This is a federal regulatory body.
Ahhhh , now it's full ads with no content.
You can't fool an Ewok.
so what is the youstake business industry ? crowdfunding ? come on !
I never understood tourney poker let alone backing tourney poker at a markup. For the average player you probably have a 5% chance to not only cash, but to do so at a high enough level that it makes some kind of sense to play the tourney rather than just investing the buy in into a far more profit stable cash game. Even if you're a very good tourney player, your odds won't be tremendously better. To then pay a mark up to stake such action...am I missing something or are people just masochists?
A good player should have a higher ITM in live events than online. IE 30 to 45%. Online it's roughly 12 to 18%.
good informative video!
"Who Makes Money From Professional Poker?
" Stake Kings.
This is a repost from a couple years ago. Paid commercial endorsement and nothing more. They should run a legit story on how shady every single character in the industry really is.
Thanks CNBC.😊 Yet another, some may say, benefit of.Inequality?😁
IMO, if you want to make a living playing poker, cash games are the way to go, and not tournaments. There is less variance, so you don't need as big of a bankroll. You can have as short or long of sessions as you want. The math is generally a little bit simpler, as are the decisions. In a tournament, you will have the constantly rising blinds, and you are unable to do anything if you just don't get a hand. In cash games, you can just wait for a good hand because of the unchanging blinds. Although most of the greatest poker players have high earnings in tournament poker, I think cash is definitely the place to start for a wannabe poker pro.
If one player backs another player and vice-versa, then suddenly a team is playing against solitary players.