If you enjoy playing poker, you’ve probably wondered if it’s possible to make money online and make a living from it. After all, there are numerous poker pros who manage to do so.
There are frequent reports of talented players becoming millionaires in just a few months. Online poker rooms are often the springboard for such careers. After all, there are qualifying tournaments that allow entry into a real live event. With these, talented players make the leap into the professional business and can not only make money playing online poker, but also participate in major tournaments in the well-known poker tournament series.
Make money with online poker: the most important facts in a nutshell
Only a few players can make a living from online poker.
Winnings must be taxed with poker with the main trade
A poker player must meet certain requirements to achieve long-term success.
Poker income is very irregular.
Is it possible to make money playing poker?
There are more than 10,000 poker players worldwide who make money playing poker, both online and in real-life tournaments. Players come from a wide variety of countries around the world. A distinction must be made between real-life tournament players and those who only play cash games online. While tournament players sometimes rack up huge annual winnings, the income for those making money online with poker in 2019 ranges from €20,000 to €80,000 per year.
Both options have their individual advantages and disadvantages. For example, those looking to make money online with Party Poker can earn a decent hourly wage in cash games with constant blinds through the multi-tabling offered by this poker room. This shows little variance. Tournament players, on the other hand, always have to wait until a major tournament is held before they can start winning. As a result, there are long periods in between when no tournaments are held, leaving players with no income.
For example, it can take several weeks before income is generated again. On the other hand, tournament players have it easier and don’t have to play poker for money all year round to make a living. Here, success in around 20 different major online tournaments is enough to generate a solid net income.
In short, this means that a tournament player can make money faster, but they also assume a fairly high risk. Players who only play online cash games, on the other hand, have a fixed income and less risk.