It is a dream closely nurtured by many aspiring poker players: To ditch the dreary 9-5 job to make a living from a game that thrives on infinite skill, knowledge and, above all, wit. What freedom!
Across the world, millions have tried and failed their hands at earning a crust from the infamous game. Ever since the internet revolution a new evolution of online players have spawned across the globe.
But is a run of Big Slicks enough to give up the day job?
Winning $140,000 (£100,000) might be enough to take a long, well earned sabbatical – but will not put bread on the table for a lifetime.
The good news for wannabe poker entrepreneurs is that the payouts from many casinos are uncapped, claims Richard Prew, media director of poker association, APAT. He says there are ‘no winning limits’ in licenced UK venues. APAT also advises there is no substitute to vast pots of money and playing experience when it comes to bringing home the bacon from poker.
Having the right psychological makeup and personality is also a trump card when playing for small fortunes. Players must also have the mettle and money to ride out the bad times when suffering streaks of bad luck, he stresses.
So who actually makes a living from poker? Prew believes the ‘majority’ of poker players play the game for fun and/or to supplement their income, with a small nucleus of professionals doing so to make a living. Traditionally, casinos don’t offer much value for money for recreational players, he says. But for high stake players, wanting to gamble on high stake tours, there are enticing yet risky opportunities to make fast and furious bucks.
The Grosvenor UK Poker Tour, launched in 2007, is a series of poker festivals that take place across venues and online. Each festival features several warm up events with buy ins ranging from $140 (£100) to $1400 (£1000) for the four-day main event. The stakes are raised to $4199 (£3000) at the end of the year for the tour’s Grand Final. As with the scale of poker played across the world, its winnings are far from loose change: Prize money for the televised main events in the tour’s first year topped $4.9n (£3.5m).
Professionals, amateurs and internet qualifiers number those who have pitted their wits for a place in history and life changing amounts of money.
With one player winning $105,000 (£75,000) for the first event this year, livelihoods can clearly be made – but for how long? Surely the odds of winning such sums over a lifetime are slim? Maybe, maybe not. Whatever the chances, it is vital the player knows the game inside out before he or she endeavours to pay off the mortgage. Again, having a king’s ransom in cash reserves goes without saying!
For online poker players, Prew advises there is no best global region in which to play poker, provided the site is international and properly licensed and governed. Legally above boards sites, he says, are carefully regulated, and display terms and conditions for banking, fraud prevention and account protection.
Those who play online or at casinos every Friday night will not need a maths lesson to realise that poker can be a slippery science to make a living. Likewise. APAT advises that cheap ‘Rebuy’ poker tournaments, which enable players to buy more chips when they lose them, are not recommended as poker gold mines.
Organisations such as APAT, Sky Poker, Virgin and PKR aim to provide recreational players with professional online and poker tours with ‘many starting chips’ and buy ins for under $140 (£100). Such events sell out within minutes of going on sale.
Inevitably, these sums are not enough to live on for a year; the art of poker playing demands a seasoned rounder not only to make a living, but to cover losses.
Unlike other games, practice makes viable, but not perfect poker. This, of course, is the substance of dreams. Few of us will be lucky enough to take home $8.5m (£5.8m) as won by Peter Eastgate, at last year’s World Series of Poker final. But there’s no harm in dreaming is there?
All multi-table tourneys are terminated with short-handed games. If you prefer to be prepared for it, you should first practice in short-handed ring-game conditions. Multi-table tourneys alone don’t provide sufficient chances to practice short-hand games, however, because you allocate the vast majority of your time at full games. After you at last make it entirely to the end, and table size begins to shrink, your level of skill becomes critical. Completing just one position up at the standings may mean as much as double your prize money.
As a complement to my
The Sting (1973) is one of the best three poker movies I’ve seen, the movie is set in 1936. It stars Paul Newman, Robert Reford, Robert Shaw, Charles Durning, Ray Walston, Eileen Brennan, Harold Gould, John Hefferman, Jack Collins, Lee Paul, and many other actors.
Chris Ferguson was born April of 1963, in Los Angeles California. Although he’s been playing poker before reaching his double digits, Ferguson went on to UCLA, where he got his PH.D in computer science. He took that intelligence with him as he played poker in chat rooms all through college, and continued skillfully dominating when he played in tournaments during the mid ’90’s. Overall, Ferguson has won 5 World Series of Poker bracelets, and through tournament winnings, has pulled in more than 7 million dollars. Among those wins, Ferguson was also a large contributor in the launching of Full Tilt Poker, which is an online poker cardroom. It can be viewed from 2 domains: fulltiltpoker.com and fulltiltpoker.net. Ferguson is known for his ability to become unreadable during a match, and the nickname “Jesus” isn’t due to the fact that he plays poker divinely, but because he ‘resembles’ Jesus with his dark brown beard and long locks.
On April 30th, 1968, Mike Matusow entered the world. From a young age, he harbored the unmistakable passion towards gambling, like many professionals, but unfortunately for Matusow, it came in cataclysmic doses. Rather than taking his passion and using it constructively, Matusow found himself stealing from his mother, playing videopoker at casinos and being reduced to attend a gambler’s anonymous program, due to his addiction towards the trade. When he put his poker passion on a less destructive path, it paid off tremendously in the end. Mike has won hundreds of thousands of dollars in World Series of Poker alone. He’s also participated in the European Poker Tour, the World Poker tour, and has made appearances on poker shows broadcast on TV. But the list doesn’t stop there. If anyone knows the name Mike Matusow, they must know what he brings to the table–no, I’m not talking about skill for the trade, but something less pleasant and not covert. Like John Mcnea’s ill-tempered and combative ways are revealed on the tennis court, the same goes for Mike Matusow at the poker table, which is why he’s called ‘The Mouth’. Trash-talking has earned him a reputation you either love, hate, or admire.
World Series of Poker
Joe Hachem’s famous name is pronounced as Joe Hashem, and, while the names sound very familiar, he holds no relation to Joe Hasham. Hachem was born in Lebanon in November of 1966, but moved to Australia with his family when he was six years old. Unlike the two above, Hachem’s career path wasn’t about to lead him into the hands of poker. Initially, he had decided to become a chiropractor, but after things didn’t work out, he chose poker as a career worth pursuing.
Would you give up your 4 incredible years in college for the chance to pursue an uncertain career? If you’re not among those who would say Yes, then you’re nothing like Phil Hellmuth. After dropping out of the University of Wisconsin, Phil Hellmuth went off to pursue a topsy-tervy career in poker.
Although there are a lot of poker players who think that a pocket pair does not account for much in the game of poker, it can be said that, sometimes, these pocket pairs that others think are somewhat “useless” may just be the winning cards that will make your hand win the pot money. So, let us study the poker strategy of pocket pairs and how you can turn it into your advantage.