Are the majority of poker players broke?

[Artbart805]

Ps, cashed for 800 in a local card room today! Yea....

 

[ejsch]

i omly play for fun ,and only allow myself to lose so much money each month.i live within my means.and dont risk my future on entertainment so no i am not broke.

 

[haryrosen]

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.

Anyone else allowed to enroll?

 

[diego farfan]

about what you mention in the main article that some players use sponsors to participate in large tournaments is like in all sports with the only difference that the prize is divided with the player and the investor, about being bankrupt is possible because Some players get good money to duplicate it that sometimes it works as your example and as in others they lose to the extreme of being 0 in their ceutna in the poker room, that's why the self-control of oneself to avoid those esenarion in the life of the said player

 

[riverlizard3]

really hard to say but im sure they have ups and downs like all players ,many are able to be backed and they have a good support network,

 

[pokerace420]

Since even the top playerspot sell 50% + of their action I would say so....

 

[djasset]

HA, The only player that is most def broke is durrr

 

[Artbart805]

Broke, yes

But the smart ones have side lines

Online vlogs, I tube,
Coaching, investments, endorsements...

What is Doug Polk doing now?
Johnathan Little
Negreanu. Sponsors
Torelli, u tube
...

 

[Jlo111888]

U think too much its yur only decision. Sometimes i wondering but not worthing.
Play cards and s### up.:thefinger

 

[B2199707]

most of the real high stakes games go on behind closed doors you Gotta know somebody who knows somebody to get invited.

True i have never see or heared of any live or private games being played here in south africa.... probably playing behind closed door hey

 

[MrPokerVerse]

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

Have no idea what you are talking about? Didn't see anything regarding making a living? What does 25 or 30 percent have to do with 5%?

 

[Artbart805]

Broke

Johnathan Little ( poker pro) I follow, was in playing a tournament. Rebuts 5 times at 1k plus busts out at a 1.5K.
Hotel, travel, food?

Questions, what part comes out of pocket, or is supplied by supporters?
His wife works, 2 kids, poker coaching site, training, vlog income.
Has cashed numerous times...

I do not know?

 

[Poker Orifice]

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,

Some flawed logic here ^ guys.
10% of players in 'a' tournament will win 'some' money. (this doesn't tell us it's enough to buy a coffee)

'Winning Tournament PLayers' (those who are winning in the 'long run') are typically ~ 14-16% ITM (in the money). What type of ROI (return on Investment) along with what size of buyins they're playing, along with what sort of volume they're playing will determine approx. how much they're winning.
But none of this ^ still says they're making enough to be making a living at it. The difference between how many poker players are 'winning players' vs. how many are 'making a living' is likely pretty huge.

 

[rj_montana]

The majority of poker players lose money. Among the subset of winners, many struggle with gambling and other addictions and a general lack of self-discipline and financial sense, ex. owning extravagant vehicles, etc. So it should not be surprising that even many of the well-known pros are hard off financially.

As was mentioned, most of the pros are heavily staked, and only get a small portion of the upside. I think the example of lottery winners is also a useful analogy. Too often lottery winners end up filing for bankruptcy. I see no reason why the same phenomena would not apply to an amateur player who happened to luckbox the main event.

 

[cheeeer]

It looks 80% players will go in minus after poker festival. I think it is because min cash is 1.5 buy-ins or less. Not 2.5-3.5 buy-ins. So it is hard to be profitable.

 

[Svyat66556]

It looks 80% players will go in minus after poker festival. I think it is because min cash is 1.5 buy-ins or less. Not 2.5-3.5 buy-ins. So it is hard to be profitable.

indeed, most players go to in negative. greed and big self-confidence are the main enemies of poker

 

[Pokerishard]

100% yes..........a simple example.......tournament with 1000 players.....100 places cash......means 10% cash.(profit)..so 90% are "-".........this is just one tournament statistic.........in long term.....depends of results........but...i don t think so in long term the 90% "-" will all grow until "+'....

 

[SPANKYSN]

I have no clue or any data to go on, but it makes sense that there are a good portion of players who are living hand to mouth. The top pros can make tons of money one year, and blow the whole amount the next...don't know, but it could happen.

 

[ga25x]

broke

if u play like few mtt or few hours cash per week, u never gonna make money.

 

[ga25x]

100% yes..........a simple example.......tournament with 1000 players.....100 places cash......means 10% cash.(profit)..so 90% are "-".........this is just one tournament statistic.........in long term.....depends of results........but...i don t think so in long term the 90% "-" will all grow until "+'....

agree 100 %

 

[antonis32123]

Players with good strategy plan , proper BRM , knowledge of their true/real poker capabilities and what cashgames or tournaments they should choose and play , don't get broke . The only important thing is to know whether they play exclusively to make money or also for some fun (more or less somehow/sometimes recreational ) .Either is good , but if you see this as a job , not only just a way to have an extra income every month besides your job or other income you might have , not only as a way to win the great lifechanging jackpot/payout of your life someday and win a very big prize in a tournament , but don't worry so much for losses on the meanwhile (more like a recreatoonal behavior) , then more patience is needed , you have to be very carefull with BRM and losses , upswings and downswings

The problem is if you choose it as a job but you earn pennys (bad for you or family ) , if you want to earn big playing big buyins without patience , bankroll plan , especially if you are a bad player . I believe you should be leveling up in poker gradually , the more successes , the bigger bankroll , the more expensive buyins , the more you can see it as a job . If you have financial or other kind of prblems and you think playing recklessly poker without limits will be benefitial one day , well, more possible to be catastrophic for you , and destroy you financeially , bust you bankroll and get broke ...

 

[Nathan Williams]

Most high stakes pros are staked. This means that only a small amount of their action actually belongs to them.

So are they broke? Not technically, but most high stakes pros are not nearly as rich as they make it out to be. Or as the poker TV shows would have you believe.