Discussion in 'Other Investments' started by Bargain Hunter, May 30, 2016.
^ Thats best case scenario
If you are looking at +EV at poker and are green/average my best tip would be to learn seated massage and charge $25 per 15 min at the tables or set up a "bad beat" booth and charge $5 to listen to peoples stories.
My 'applied' experience with that domain is less developed, see reply #20 by Stoic Phoenix for some good advice from someone who's been 'in the trenches', especially starting with a bankroll of (at least) 20 buy-ins.
That'll cost you $5 for me reading your post.
Just take it off the tab you have run up with me reading your calls on silver prices that have ended up being "bad beats"
....sometimes you can catch several people out overplaying hands before they even cotton on if they think you have no idea what you are doing.
Why not just jump on Pokerstars load up a $100 and see how ya go? If you make enough each day then it could be worth it to do! (If living expense is cheap and you can access the money easily)
Agree with this just do it and chalk it up as a life experience and see where it goes.
Ran businesses as a kid and made lots of money played poker hard from 13 to 19
When Texas Holdem came along i thought piece of cake and got smashed at my first 10 events,the betting strategies were savage compared to what i was used to and i had to re learn the game.
Reading other players betting and strategic betting is a big part of Texas so play as many low level pub games as you can to get experience.In Victoria thats easy as there are events everywhere and lots of cash games where you can make decent money.
I stay away from casino's thats another league entirely
Effort =Reward but most of all you have to love the game
Set yourself a strict limit per cash game,events are easier as there is a set buy in so you can't go home crying.
Also be prepared to lose and bet the cards don't pray on the cards.
Learn the phrase "Shiet happens" if your straight gets beaten by a flush and you bust out :lol:
My most satisfying win was a memorial cup game held every year at the anniversary of a well known local poker players death
The previous year i played and attended out of respect because i was so sick.The finals were at 4am in the morning by which time i was totally wrecked.It ended up as a grudge match between myself and a husband and wife team(who were renowned local players) i left the table having the largest stack with only the 3 of us left and they by default came away with the cash and trophy.
The next year i knocked the husband and all his cronies out and came up against his wife in the final.
She got smashed in the first hand all in.That was the last year they held the game and the trophy still takes pride as my most valuable possession.
Soz for the memory lane
A good LIVE cash game player can make around 10-15bb/hour or so depending on structure of buy in and stack depth, over a large sample size, at low stakes no limit holdem. I don't play much PLO so couldn't tell ya.
A good online cash pro makes around 5bb/100 (100 hands played) or so depending on structure of buy in and stack depth, over a large sample size.
If you work out the stakes, you can work out the hourly.
(casinos generally offer $1/2 NLHE all the way to 5/10/20 or 50/100 around here)
Obviously its extremely hard and the poker boom is close to over, with live poker being imo, the best place to make money.
(Funnily enough, I play quite a bit of poker at the moment, have over 2,000 hours logged in the last 18 months and am trying to find a new way to make money because it's such a grind)
I would definitely google "live low stakes no limit" or something similar to find a poker forum! there is tons of advice given there.
one big consideration tho is that poker income isn't taxed in Australia, so earning 75k per year is the equivalent of earning 100k taxed.
Htu08 which city do you live in?
What makes you think the cards are dealt fairly?
I honestly could not tell you how bad an idea I think this is. I've seen lives ruined by online gambling and if you are even beginning to think this way stop playing online poker immediately you are entering full blown justification of addiction (you do it for a living, you are a professional etc). You are being lied to by an industry that will happily see you in the gutter before you even being to cop on to how daft you have been.
Old soul I have not been playing Poker at all. I was merely asking everyones opinion as to the viabilitynof it as a potential money maker.
^Thats easy to answer.
Its the same as anything, there is a fair chance IF YOU KNOW WHAT YOU ARE DOING but even that is no guarantee.
My advice is, your time is not worth it.
Better spent with a second job, as your hourly playing poker at any stakes less than $1-2 Blinds- No Limit ($200 buy in).
Game is far too tough to beat, even pro's are stuck at making ~4 Big blinds profit ($8 at above example) after rake is factored in, per 100 hands.
They multi-table to earn just better than a wage at that stake, and accept huge amounts of financial stress, as there is much variance with poker, even if you are the best player in the world, you will go on loosing streaks due unavoidable due to pure probability.
If you do want to try, my advice would be start learning the game at 1c-2c blinds ($2 buy in)
Bankroll management i would allow for 30 buy ins ($60 USD).
Once you have played enough, and starting to win regularly, and get up to $120USD, move to 2-4c blinds ($4 buy ins).
And as soon as you have 30 buy-ins for the next level, move up.
If you lose, move back down.
I think it can be fun as a hobby, if you have spare time, and accept you won't beat the average hourly from just working.
Try to sign up to a RAKEBACK site to help increase your profitability.
It's a bit late for this now.
Online poker effectively banned in Australia now since the passing of the Interactive Gambling Amendment Bill 2016. Only the shady operators will remain.
Yep that sux so no more FullTill or PokerStars (online poker in general) in Australia.
I have read that some are opting to leave Australia, similar to Black Friday in the US years ago with there similar situation as this...
Cheers, HAPPY STACKING
Back when I was a 14 year old kid I use to earn £5 a weekend working in my uncle's cafe. During the week I'd play poker in the back rooms of the pool halls in Sydney CBD. Poker was a much more tactile enjoyment than I imagine playing online.
Not sure if this thread is still relevant as online poker has been banned in Australia.
But it is still possible to make money out of online poker through private clubs on apps such as Ppoker/Upoker sites or using Crypto currency poker sites like Ignition and American Card Room.
They are fairly safe, that is how I am making my side income but in general online games are getting relatively tougher and become a grind especially on sites like Ignition. It's much better to just game select (finding a soft table) in the private games, otherwise like others have mentioned playing live (in the casino) games will in general always be softer then playing online.
Best advice I can give if you are just starting off and wanting to learn and is to do a bit of research in finding a site to give you a general 'Hand Starting Chart' for Cash games to give you an idea of which hands to open and fold in each position so you can understand which hands are +EV/or - EV, what hands to fold when someone reraise you for X amount, which part of your hand range to call with etc etc, this is just to give you a good baseline fundamental on which hands to play in every position as there are hands which in the long run over a large sample are just not consistently profitable in certain positions, this can always change depending on who is on your table but you will learn to understand this over time.
Once you start to familiarize yourself with the hand charts, watch some videos online on YouTube of good players playing a cash game online so then you can listen to their though process and decision making for post flop decisions for each street.
It is not an overnight process and will take you more then several months to understand all these concepts, but you can still be somewhat profitable playing smaller stakes in the casino if you just stick to the hand charts and use somewhat of the correct betting sizings for each street. Understanding hand ranges also become an important role and knowing what cards improve whose ranges (your range or your opponents range) give you a basic idea of whether you should be betting or checking on certain runouts, I could go on and on but like i said, learn the hand charts first, you will make less mistake if you at least get the first step (hand charts/ranges) correct.
Print out a hand chart and highlight which hands you would play in certain positions and what you would fold and compare them to the charts you find until you basically have memorized them and are identical.
Enrolling in a course or having a coach would help plug all your leaks but again this would cost you money. Otherwise I recommend to enrol or register in a poker forum/join a discord channel to discuss your hands or read other hand histories posted by other players.
If you wanna master something you need to try it to yourself. Poker is an unpredictable game sometimes you win sometimes you lose what you need to do is just keep going until you master it. It can be through playing, watching videos, and reading that is how you learn new thing. Try this simple GTO trainer https://simplepoker.com/en/Solutions/Simple_GTO_Trainer . Explore I guess that's the correct term.
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