Some of us may have entertained the idea of becoming a professional poker player at one time or another. We believe we have the skill set to achieve success but at the same time have heard countless horror stories about pros losing large sums of money and eventually going bankrupt in pursuit of the ‘dream’.
The most common question people ask is “ How much do professional poker players make at tables?” Can a person actually live on a poker pro’s salary? There is no straight answer to this question. Truth be told, around 1% of those that become professional actually become successful. But still, some players go through periods where they are either broke or living on meager means.
WHERE DOES YOUR REVENUE COME FROM?
How much professionals make from poker in India largely depends on how many revenue streams you have coming in.Several new players primarily focused on tournaments and many soon discovered that the variance involved was too inherent to make tournament poker a viable source of income.
Most professionals will play both poker tournaments and cash games in order to maximize their profit. Cash games are regarded as bread and butter while tournaments are where the big ‘payday’ comes from.
Additionally, don’t stick to just one form of poker. Ensure you competent in all forms.
WHERE DOES YOUR MONEY GO?
So, what types of expenses can a poker player incur? For people who predominantly participate in live tournaments, this is where the money goes,
Last but not least; Taxes. You need to keep track of your gains and losses in order to file taxes at the end of the year.Also, you need to hold back money every month from your profits to cover your taxes.
The old cliché that poker is a hard way to make an easy living still holds true to this day. In fact, it is difficult to win consistently in this day and age than in any time in history thanks to the explosion of internet poker.
Throughout the years there have been several movies that have broached the subject of card games.
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Fedor Holz, a name whom enthusiasts of poker in India may not be familiar with, has been rising in prominence in poker.