Are the majority of poker players broke?

[Mikeisanace777]

Poker is an even distribution game so it depends on your stakes.

I play for fun on all kinds of sites the game has a perpetual rhythm to it for life. Win 2 hands of any kind then get pocket Aces good luck it's probably not going to be a winner. The reason poker players go broke is they dont get this concept and keep playing be it cash games,tournaments and what not. Fact is every game is like 10,00000 hands your going to win some and lose some every session. If you only played the winning hands then you would be a winner be it short term or not,because it flows into the long term. If I sit down and win 9 hands total out 100 then I should quit and be happy the hands I chose were winners and try it again the next day. Poker has random streak variance though with greater than expected hands won in X periods then long stretches of nothing. The average is pretty much what happens though 2.2 hands won per 20 played with 2 bluffs as the max for a total of 4 maybe.. That's 20 max out of 100 or so hands and may of them are small,big and then you got the folds,blinds and bad calls your human. You have to navigate all of this and be up then go home. Problem is people love the action and go broke way faster the games dry up and your action is dead. Poker is always going to be like this for eternity and eventually other plays with bigger stacks will get your game so you have to quit and move on. If you really wanted to make it you would need a giant roll,zero debt and live a pure nomadic lifestyle it's awful.

 

[Mikeisanace777]

Poker players that only play poker are broke.

With a bankroll poker is a flow game say you start with 200,000 dollars and make 100 k in a year on cash games and some small tournaments. It's doable with skill utilization of variance in your favor for the time being then moving on to something else. That 100 k invested Into real estate or a business could double, or more in the long run then you might continue with poker. If instead you kept playing that 100 k might get to 140.. Then you all of the sudden you break even or dip into losses and unless your drop in stakes you go broke. For those who do grind it out in a years time or more their back to 140 k up but I think you know what happens if you continue. The upswing luck thing is nearly unpredictable on how long it will last but one thing is for certain it's longer than the good times. The only way to make it is to use your winning productively and move up in stakes for lucky positive variance which might be 500 k or you lose that 140k investment which hopefully isn't all you have and maybe you continue. Pro's win maybe 1 out of 200 tournaments they enter so forget that route as a backup plan but it should be there if you ever want to win huge but it's a lottery and all luck.

 

[Igor Popadyk]

many players sell stakes both in the cash game and in tournaments - smooth out the dispersion

 

[Auswa]

Tournaments are tough to win money at due to the amount of luck and the amount of good tournaments are on offer to play in. I think if you decide to play tournaments you will need a big bankroll, willing to travel, and you need to win (get lucky). I don't really think they are worth playing really to try and make money from. If your trying to get the glory the wsop main event is really the only mtt worth playing in.

 

[MaZeee323]

They're have a good bankroll management I think they're not broke. Pros are getting contracts for advertisement from pokerrooms and tournaments or TV, too. If they are broke and play a expensive tournament or cashgame I wouldn't believe they can play good poker. They go on tilt because they could lost everything (or most of their money).

 

[neptun1914]

TV and the online poker sites are always showing the shiny side of poker where pro poker players win huge money and this is normal because they need to attract new players. You see that Daniel Negreanu won 30 million $ in his career but you don't know how much money from these he spent for living and buyins and in how many games he got busted before entering the money. We will never have full picture of the financial situation of pro players but it is fact that there are enough people living only from poker so there is definitely way to do that. You should just remember that this requires serious efforts (years of learning and improvements) and very good bankroll management.

 

[balo]

10% of online poker players are winners in tournaments. If you can win in the long run you belong to that 10% that can make a living out of it.

 

[MrPokerVerse]

Not sure at all about the question. Listening to gamblers (all types, even poker players) my whole life, there wasn't much talk about losing. One conversation with the mass majority was how much they won and how much they were up. Asking about losing was the deer in the headlights look. Was a real conversation killer.

 

[xpvictor1]

99.9999 % of the time if it looks too good to be true it probably is too good to be true. In other words, are you one of the 0.0001% who makes a living playing poker? Addiction to poker can easily lead to 'broke poker players'. I was addicted to slots so at some time I had to just say 'noooooo'

 

[Coherent16]

I used to be really well off, but it’s really hard to keep track of your wins and losses. Sometimes I play well above my limit, usually my losses outweighs my wins which is why now I’m broke

 

[Risto234]

Not sure at all about the question. Listening to gamblers (all types, even poker players) my whole life, there wasn't much talk about losing. One conversation with the mass majority was how much they won and how much they were up. Asking about losing was the deer in the headlights look. Was a real conversation killer.

If i'd speak about same topics with someone who has yet to enter gambling world then obv i'm not talking with him (too much) about losing etc cause doing so i probably would scare this individual to actually stay away from gambling after all lol ...

 

[Hemified]

Not necessarily because I have plenty of cash. I jus dont put money online to play so that's why I'm here.

 

[chuckycheese]

yes

they arent until they play poker then they are lol:rock:

 

[dayontour]

Making a living form Poker

10% of online poker players are winners in tournaments. If you can win in the long run you belong to that 10% that can make a living out of it.

If 10% can make a living out of it, thats quite good odds, I believe Sports betting is below 2% that can make a living form it.

 

[chuckycheese]

It was pretty funny to hear Steve say straight up in the interview after winning the EPT grand final "it's not all mine, I have backers" and look a little dissapointed. I think most poker players are backed but they just don't make it known.

I wonder if Antonio Esfandiari will ever say how much of the One Drop he had of himself.

i think most all big name players, play on other peoples money. why risk there own, when they can make money without risking their own.

 

[A fox 666]

To understand this, you need to understand two things for yourself. Firstly, poker is a completely and completely game based on excitement. No skills, skill and ability will help you to constantly earn money without risking losing everything. Secondly, everything smart and sensible players, having won something big, will not continue to risk their money. They will look for insurance on the side, in the same becker.

 

[Acechador]

I think most poker players are broke since they are newbies or because they play for fun. There are few who really earn a lot of money with this game, maybe 10%.

 

[Poker Orifice]

With a bankroll poker is a flow game say you start with 200,000 dollars and make 100 k in a year on cash games and some small tournaments. It's doable with skill utilization of variance in your favor for the time being then moving on to something else. That 100 k invested Into real estate or a business could double, or more in the long run then you might continue with poker. If instead you kept playing that 100 k might get to 140.. Then you all of the sudden you break even or dip into losses and unless your drop in stakes you go broke. For those who do grind it out in a years time or more their back to 140 k up but I think you know what happens if you continue. The upswing luck thing is nearly unpredictable on how long it will last but one thing is for certain it's longer than the good times. The only way to make it is to use your winning productively and move up in stakes for lucky positive variance which might be 500 k or you lose that 140k investment which hopefully isn't all you have and maybe you continue. Pro's win maybe 1 out of 200 tournaments they enter so forget that route as a backup plan but it should be there if you ever want to win huge but it's a lottery and all luck.

IF this were true... then why do a large number of players STUDY intensely and become consistent winning players? Your theory sounds like it's all based on LUCK... and timing that luck so you quit while ahead. I only play micro & low stakes but I am not leaving while ahead... if I'm playing well at the time, why would I assume that I'm just going to lose it (eventually).
What you're describing is your typical mediochre/ bad player getting lucky and then not getting lucky, lol.

I'd like to know what you're basing your numbers & theories on?

 

[elJenio8]

I see a video long time ago of some pros who are broke...

Many of them they are not broke from poker, they lose everything on casino games..

I dont know how to avoid that too

 

[Nomahoners]

Just my opinion but yeah, i wouldnt be surprised if alot of pros are just getting by.

Everytime they sit down they have a target on them. Be it some casual player who dosent care if he sloughs off his whole stack in one shot or some shitty billionaire who thinks hes good. Remember the cirque du solie guy in high stakes or jerry buss or any actor player. They aint that good but they sure arent playin with scared money. They get up and leave and some other fish sits down but we all know it dosent matter how good you play, theres always a chance you can lose.

If you dont parlay your name into something bigger, i can easily see great players going broke. Luckily now, any douchebag can make money with a podcast cause theres si many sheeple in this world that will eat your garbage up.

 

[Poker Orifice]

To understand this, you need to understand two things for yourself. Firstly, poker is a completely and completely game based on excitement. No skills, skill and ability will help you to constantly earn money without risking losing everything. .

And it's people who think like this ^ that help others make a living from the game.

 

[AAlexandru17]

And it's people who think like this ^ that help others make a living from the game.

Whatt??? Are You serios? Of course the poker can be a living..You just must have a sistem for playing..If You have for exemple 20 dolars and go at cash game and go all in yea..You lose,but If You make a 25 30 %per day in one month then incrrasee to 5% next mouth its a good think..but If You play for big win in 1 day off course isntt a living option. Gl

 

[BasTid]

Well I am a casual player, and apart from the inital $20 that I put in I have not put in anything else... So no I'm not broke

Additionally other poker players I know are not broke either. As someone mentioned above selling making a deal that you and your friends all have a 20% stake in each others tournament will help reduce the chances of variance. So when your maniac friend gets the rub of the green for the night and you don't get any cards you still might come out ahead.

In fact that happened before Christmas, I sucked out, and 3 of my 4 other guys I had a stake in finished in the money. I actually came out €300 the better for it.

 

[Branimir84]

By the very virtue of the economics of poker, most players are not winning players. They can not be.

 

[Artbart805]

Broke?

Most of the guys I see are of two types, those older, who have made there money and enjoy the game, younger guys looking to make some money!

Younger guys generally are still spending , earning, carrying debt.

So yes, we’re all broke!