Making a Second Income From Poker
Jobs are hard to come by these days, and some of us are looking for ways to increase our income. A second job is not uncommon for most families who are not lucky enough to get the results of the main job. Believe it or not, poker can be your second source of cash flow! Of course, you can play online poker to give you extra income. However, there are some things you need to consider. To begin with, I wouldn’t advise anyone to invest a lot of money playing poker for a side job, especially someone who is fairly new to the game. It is true that there are people who make a lot of money and even play poker as their first income.
However, many people are not so lucky and many will end up losing money. Other considerations are your commitment to really learning the game, your money ( what you can invest to get started) and the income you need. However, if you follow the basics, invest the time to get better and treat your bankroll as an investment, you might just become a regular winner and earn a little extra money playing online poker.
The most important aspect of winning poker is the one that is most often overlooked – bankroll management. There are some great articles on how to manage your poker bankroll, and there are also many different opinions on the right bankroll. The most important thing is that you really need to have some form of bankroll management and the patience and discipline to see it through. Find out what some of the latest articles suggest and talk to other poker players. If you can’t find anything, use this as a guide.
In cash games, you should probably have around 25 to 30 buy-ins for the limit you want to play. In keeping with that goal, if you have $500 to play poker with, you can comfortably play the $10 buy-in level, going up to $25 NL when you hit around $750. No doubt you won’t make a lot of money at this level. , but ideally, you want to hit at least the $25 NL level to make reasonable money (the goal is to play higher levels of course). You have to start somewhere.
Every time you get around 25 or 30 for the next level, you have to decide when to start playing at a higher level. It is very important for the health of your bankroll to drop back immediately if the increase doesn’t go well. It’s not uncommon to go up and down more than once before becoming equipment in a new level.
Some people prefer tournaments to ring cash games. Make sure if you choose this you research bankroll management for tournaments, as this is a bit different from cash games. However, if you are really playing for a steady income, then cash games are definitely the best option. That way you can play fairly low variance styles, most agree the tight-aggressive style, getting rakeback and clearing bonuses in the process. Be sure not to overlook this important aspect of cash poker games.
Poker rakeback gives you cash that flows into your bankroll, even when you hit bad numbers. If you haven’t heard of rakeback before, it’s basically a system where you get a portion of the rake you paid for sent back to you at the end of each month. Before you sign up for a new account, be sure to research whether or not they offer rakeback to their players (usually through a third party). If you already have an account somewhere, it becomes very difficult to get one, and believe me, you will be amazed at how many are added!
Don’t forget to keep track of your progress. This is more than just tracking if you have any money left in your poker account after playing. There are several poker tracking devices on the market and all of them seem to have an advantage. Many will let you try it before spending money on it.
Once everything is in order, make sure you play! There is no better way to improve your poker prowess. You should definitely take some time to study. However, don’t get too busy in learning, play is where you gain experience and learn. While reading or watching videos, take notes, talk to players you respect. Be sure to post hands and follow the discussion closely. Make sure you take any valuable suggestions and try to implement them.
A final thought – treat your money like an investment and your playtime like a job. Play your best game as much as possible. You wouldn’t think it should be mentioned, but never play drunk and avoid playing when tired or distracted. If you work and focus on your game, you can earn a very decent second income playing poker from home!