few points here firstly I think more then %1 of online players are winners. in Fact recorded Long term statistics for sit and goes showed that 24-26% of players there are winners.
However there is a problem still see when I started sit and goes I was doing really well, of to great start hitting $40 an hour on the $6.50s 20 tables at once thats above 30% ROI. What I did not know at the time was that this figure was a fluke and not realistic. I was soon horrified when statistics began to balance out and my ROI was dropping down to $11-15. I stopped for some time thinking I had lost my touch players might be adapting to me I can't compete long term maybe it just rigged to give me good luck run etc etc.
Eventually I learned 10% ROI is actually very good and not to get stressed out about. I returned and started to build a decent bank roll.
But what does this mean anyway? well this means that whilst 24% of players can be winners at sit and goes very few can actually make a living out of it.
think about this Phil shaw reckons you need 40 buyins for low stakes and 60 for high stakes, my Bank roll rules are even stricter because the penalty of going broke for me is dire.
but that means if you played a single table sit and go by itself you can expect if your a good player to make 65c an hour.
not enough to make a living you could of cause move up stakes but even at a $60 sit and go your talking only $6 and thats not even realistic because once you get to this level the standard is higher and its more like 5-7%.
meaning if you was to rely on a single table you would need to be playing $200+ sit and goes to be making a high enough hourly rate to make a living and thats just scraping by and you have to be very good to be able to win at that level.
bottom line rule of thumb you can multi table which is hard to do and keep an advantage or you can play higher stakes which you probably are not good enough for. I went with the former and am doing fine.
However basically you need to stake 10* minimum every hour what you desire as an hourly rate. you want $10 your going to have to stake $100+ you want $100 your going to have to stake $1000+.
Rake varies according to stakes but since the good professionals already know this I will keep figures relevant to low stakes $5+ sit and goes the site takes 10% rake. so lets say you wanted $400 a week not a lot but enough to get by and wanted to work a 40 hour week. You would have to stake $4000 in every week obviously your staking the money over and over so its not as bad as it sounds. but that means the site is making $400 a week of you thats $20800 a year.
thats right to be able to make a regular living of poker the site has to be making pretty much $20000 a year from you.
scary but true.
Bottom line is there are many players capable of winning sit and goes 24-26% how many of this % do you believe are actually able to multi table and do so efficiently, and remember $400 a week is probably not enough because you need to cash that out every week and when you have a bad week despite the fact you could have made thousands suddenly your broke.
Bottom line more then 20% of online players are winners the problem is they the vast majority of these are making pennies literally and probably end up getting frustrated and throwing it away in the end.
If you want to play poker for fun thats great nothing wrong with it for a hobbie but if you think you can make a living from it yes you can definitely with the right work ethic time investment and study. However it is not easy and really takes commitment Poker is not an easy way out it is a hard way to get way ahead.
