Do people really expect to become rich from poker?

    • Ejeckt
      Ejeckt
      Bronze
      Joined: 06.12.2008 Posts: 517
      Don't mean to be negative here, but I was going through the blogs forum and I see so some people creating blogs with a theme relating to how they're going to become wealthy through poker.

      I've been on a poker sabbatical for a few years, and came back just because I was enjoying the game live and thought to improve my skills a bit online. But I was never under the impression that Poker is a viable option as a path to wealth.

      Granted there are some fabulously wealthy poker players, but they're quite rare. Certainly fewer poker millionaires than in other fields or sports. Surely if money and wealth are a persons main motivation there are much easier ways to achieve it? Poker can be a brutally tough game, and it boggles the mind why people think this is the answer to life's money worries. Why not apply that energy to something like a business venture? It's faster and easier than poker...

      Anyone have an opinion? :)
  • 24 replies
    • NightFrostaSS
      NightFrostaSS
      Bronze
      Joined: 25.10.2008 Posts: 5,255
      Think people creating such blogs are either delusional or just joking and don't really mean it.

      For a business venture you get to go out and do stuff, while with poker it may seem to some that you only need to be clicking few buttons in the comfort of your home. Naturally people who chose poker over business because of that will not achieve a thing.

      The other thing is that with poker you only need very small investment if any at all in order to start out which isn't usually the case with other ways of making cash. So it may seems lucrative starting point to some.

      I believe it's close to impossible to become a poker millionaire these days, not counting random MTT luckboxes. It's possible to attain a good mid level lifestyle and get the initial capital going for other ventures. But I guess people wouldn't really want to name their blog "Let's become somewhat above average wealthy through poker". :f_biggrin:
    • lodinn
      lodinn
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      Joined: 04.10.2010 Posts: 1,276
      probably because in general people are lazy and not very creative and even if it's tough to become rich playing poker it's easy to give it a try
    • pokerprons
      pokerprons
      Bronze
      Joined: 30.09.2009 Posts: 420
      Originally posted by NightFrostaSS
      Think people creating such blogs are either delusional or just joking and don't really mean it.

      For a business venture you get to go out and do stuff, while with poker it may seem to some that you only need to be clicking few buttons in the comfort of your home. Naturally people who chose poker over business because of that will not achieve a thing.

      The other thing is that with poker you only need very small investment if any at all in order to start out which isn't usually the case with other ways of making cash. So it may seems lucrative starting point to some.

      I believe it's close to impossible to become a poker millionaire these days, not counting random MTT luckboxes. It's possible to attain a good mid level lifestyle and get the initial capital going for other ventures. But I guess people wouldn't really want to name their blog "Let's become somewhat above average wealthy through poker". :f_biggrin:
      Ok unless this is some sick level of sarcasm I can't comprehend, you need to stop! Go back to one liners that make me happy I clicked on such a random thread :D
    • VorpalF2F
      VorpalF2F
      Super Moderator
      Super Moderator
      Joined: 02.09.2010 Posts: 8,913
      To answer your original question -- Yes.

      Some people DO expect to become wealthy playing poker.
      A lot of them alter their expectation once they realize the amount of work involved.

      Other embrace the challenge, actually DO the work, and as nightfrost says, they make a decent living.

      I think most of the blog titles are just for the fun of it.

      All the best,
      --VS
    • w34z3l
      w34z3l
      Coach
      Coach
      Joined: 03.08.2009 Posts: 13,297
      I'm in it for the soul-reading :D
    • Rihard4a
      Rihard4a
      Gold
      Joined: 08.09.2010 Posts: 2,038
      I'm in to become SNE and earn million per day playing HU vs Dwan and Blom.

      :coolface:
    • roopopper
      roopopper
      Bronze
      Joined: 31.12.2010 Posts: 4,289
      Judging by my current results I'm in it to feed the sharks :s_cry:
    • serverm07
      serverm07
      Basic
      Joined: 08.08.2012 Posts: 1,130
      Everyone has a different definition of rich. To become a professional at anything it takes a lot of hard work, a lot of studying, practice and a lot of hours. On top of that there is always variance in any field. Some people get lucky and meet the right people at the right time and get the right connection to be able to rise through the ranks faster, in poker some people bink mtts or run hot when moving up etc etc.

      There are guys that are making 300-500k from midstakes, there are guys that make way more from high stakes. But the problem with poker right now is that games are getting tougher all the time.

      It's definitely possible to make money from poker, just takes a lot of hard work.
    • Andyuk18
      Andyuk18
      Bronze
      Joined: 06.12.2010 Posts: 527
      How is starting and building a business easier than poker? Don't think you understand how hard you have to work running your own business to make it successful. To be successful at anything in life you have to work hard at it.

      I agree a lot of people have unrealistic expectations though, optimism or delusion? :P
    • vuciitis
      vuciitis
      Bronze
      Joined: 19.02.2011 Posts: 1,314
      i think it really depends were are u from...

      I live in pretty poor country and we have limited options here. To get 1k$ per month here u really need to work your ass off in brutal jobs and be really high edjucated in some speciality. And like 2k$ per MONTH here are top you can reach if u plan to work legally. Only way to earn more is to screw the goverment with taxes and they will get you sooner or laiter and you will hit bottom any ways and start from zero again.

      1k$ in poker is pretty achievable in relatively short time. its definitely not easy, but its duable in a year or two. So, it depends on options we got, were we live and who we are... :)
    • serverm07
      serverm07
      Basic
      Joined: 08.08.2012 Posts: 1,130
      Originally posted by vuciitis
      i think it really depends were are u from...

      I live in pretty poor country and we have limited options here. To get 1k$ per month here u really need to work your ass off in brutal jobs and be really high edjucated in some speciality. And like 2k$ per MONTH here are top you can reach if u plan to work legally. Only way to earn more is to screw the goverment with taxes and they will get you sooner or laiter and you will hit bottom any ways and start from zero again.

      1k$ in poker is pretty achievable in relatively short time. its definitely not easy, but its duable in a year or two. So, it depends on options we got, were we live and who we are... :)
      what country is this? maybe I can buy it out for 100k :D
    • Ejeckt
      Ejeckt
      Bronze
      Joined: 06.12.2008 Posts: 517
      Originally posted by Andyuk18
      How is starting and building a business easier than poker? Don't think you understand how hard you have to work running your own business to make it successful. To be successful at anything in life you have to work hard at it.

      I agree a lot of people have unrealistic expectations though, optimism or delusion? :P
      I never said that it does not take alot of work. And I'm not taking about people earning 6 figures. I'm talking about the life of the rich and wealthy. I completely get that people want some money on the side and poker can provide that. I was just wondering about the people who want to be truly rich from poker.

      The kind of rich that lets you own a collection of sportscars, a yacht, a few homes. To have that kind of lifestyle you need millions. And I think there's more lottery winner millionaires than poker millionaires. At least that's what I gather from sites like high stakes db

      I do believe it's possible to join Phil Ivey and those guys at the top there, but the amount of work/luck it would take is huge and the chance still small. Meanwhile, in business, if money is your goal it's definitely not unreasonable to want to build a multi-million dollar business. There are thousands upon thousands of them out there already. But then again, interpretive statistics was never my strong suite.

      Another thing in poker is the scarcity complex. Someone has to lose for someone else to gain. In business, both people can gain.
    • MatejM47
      MatejM47
      Black
      Joined: 21.01.2010 Posts: 1,193
      Well this highly depends on your definition on ''wealthy''. Do you consider someone working 12 hours a day 350days a year and making 20million a year wealthy? He sure is rich but imo his definitely not wealthy. Personally i prefer a decent amount of money + my freedom then a shitload of money that i actually have to work for.

      I guess i just don't care that much about the villas, yacths and having a bunch of expensive cars. That not to say i don't care about the money but as long as i make at 5k a month which is more then enough to support the lifestyle im accustomed to.

      On top of that i actually love playing poker. Like when i take a week off i really can't wait to start playing again and i know very few ppl that are excited to go back to work after their vacation. Not to mention i don't have a boss who bitches about waking up at 2pm or telling me when and what to do. Last time i woke up to a sound of alarm clock was in 2012 and pretty much the only responsibility i have is grind those 4-5 hours after waking up and then im free to do what ever i want for the rest of the day.

      Like that saying goes,

      First your young and you have health/energy and as much time as you want but no money,
      Then you start working while you still have health/energy and money but now you have no time,
      And then ppl finally retire and have time and money but at this point you no longer have energy/health

      With poker i can have all of that right now.

      Fwiw if someone offers me 10 times what i make now for me to go work 9-5 for the next 40 years the answer is a definite no.
    • muumionu
      muumionu
      Bronze
      Joined: 25.07.2012 Posts: 816
      Originally posted by MatejM47
      Well this highly depends on your definition on ''wealthy''. Do you consider someone working 12 hours a day 350days a year and making 20million a year wealthy? He sure is rich but imo his definitely not wealthy. Personally i prefer a decent amount of money + my freedom then a shitload of money that i actually have to work for.

      I guess i just don't care that much about the villas, yacths and having a bunch of expensive cars. That not to say i don't care about the money but as long as i make at 5k a month which is more then enough to support the lifestyle im accustomed to.

      On top of that i actually love playing poker. Like when i take a week off i really can't wait to start playing again and i know very few ppl that are excited to go back to work after their vacation. Not to mention i don't have a boss who bitches about waking up at 2pm or telling me when and what to do. Last time i woke up to a sound of alarm clock was in 2012 and pretty much the only responsibility i have is grind those 4-5 hours after waking up and then im free to do what ever i want for the rest of the day.

      Like that saying goes,

      First your young and you have health/energy and as much time as you want but no money,
      Then you start working while you still have health/energy and money but now you have no time,
      And then ppl finally retire and have time and money but at this point you no longer have energy/health

      With poker i can have all of that right now.

      Fwiw if someone offers me 10 times what i make now for me to go work 9-5 for the next 40 years the answer is a definite no.
      love your post +1
    • Pkrpains
      Pkrpains
      Bronze
      Joined: 04.10.2010 Posts: 382
      MatejM47 >

      Yeah, really a nice post. This is what I personally want from poker, maybe even less. Some time ago I used to dream about poker being my main source of income, but with some experience and having experienced the most brutal downer in my career, I thought poker might be too stressful for it and I am looking at it as a source of side income since then even though I do not yet have a full time job (I'm a student). 2k$ a month would be pretty much enough and everything above that I'd consider a bonus.
    • Ejeckt
      Ejeckt
      Bronze
      Joined: 06.12.2008 Posts: 517
      Originally posted by MatejM47
      Well this highly depends on your definition on ''wealthy''. Do you consider someone working 12 hours a day 350days a year and making 20million a year wealthy? He sure is rich but imo his definitely not wealthy. Personally i prefer a decent amount of money + my freedom then a shitload of money that i actually have to work for.

      I guess i just don't care that much about the villas, yacths and having a bunch of expensive cars. That not to say i don't care about the money but as long as i make at 5k a month which is more then enough to support the lifestyle im accustomed to.

      On top of that i actually love playing poker. Like when i take a week off i really can't wait to start playing again and i know very few ppl that are excited to go back to work after their vacation. Not to mention i don't have a boss who bitches about waking up at 2pm or telling me when and what to do. Last time i woke up to a sound of alarm clock was in 2012 and pretty much the only responsibility i have is grind those 4-5 hours after waking up and then im free to do what ever i want for the rest of the day.

      Like that saying goes,

      First your young and you have health/energy and as much time as you want but no money,
      Then you start working while you still have health/energy and money but now you have no time,
      And then ppl finally retire and have time and money but at this point you no longer have energy/health

      With poker i can have all of that right now.

      Fwiw if someone offers me 10 times what i make now for me to go work 9-5 for the next 40 years the answer is a definite no.
      +1 That's a very good and reasonable attitude to have.

      What I mean is this.

      Example 1:
      I want to be a millionaire and drive a Ferrari and travel all over the world. Is poker a viable way to get to that goal? Will it work for me like it did for Phil Ivey and Tom Dwan and Chris Moneymaker?

      Example 2:
      I want to be a millionaire and drive a Ferrari and travel all over the world. I read a business book and have a few ideas for a business. Will I be able to create a successful business like {insert any successful well known entrepreneur here}?

      Both instances the person would have to work very hard. But the second one just seems that much more likely, doesn't it?
    • Pkrpains
      Pkrpains
      Bronze
      Joined: 04.10.2010 Posts: 382
      Originally posted by Ejeckt
      Example 1:
      I want to be a millionaire and drive a Ferrari and travel all over the world. Is poker a viable way to get to that goal? Will it work for me like it did for Phil Ivey and Tom Dwan?

      Example 2:
      I want to be a millionaire and drive a Ferrari and travel all over the world. I read a business book and have a few ideas for a business. Will I be able to create a successful business like {insert any successful well known entrepreneur here}?

      Both instances the person would have to work very hard. But the second one just seems that much more likely, doesn't it?
      ... Not sure :s_biggrin:

      The thing is, it depends on many variables so much...
      To set up a nice and hugely profitable business required to drive a Ferrari and travel all over the world is an insanely difficult task... Many people who managed to achieve it failed hard at their first attempts. It takes a big starting capital and time, because expectations to build such a business on the first attempt are so unrealistic.
    • Rihard4a
      Rihard4a
      Gold
      Joined: 08.09.2010 Posts: 2,038
      Originally posted by serverm07
      Originally posted by vuciitis
      i think it really depends were are u from...

      I live in pretty poor country and we have limited options here. To get 1k$ per month here u really need to work your ass off in brutal jobs and be really high edjucated in some speciality. And like 2k$ per MONTH here are top you can reach if u plan to work legally. Only way to earn more is to screw the goverment with taxes and they will get you sooner or laiter and you will hit bottom any ways and start from zero again.

      1k$ in poker is pretty achievable in relatively short time. its definitely not easy, but its duable in a year or two. So, it depends on options we got, were we live and who we are... :)
      what country is this? maybe I can buy it out for 100k :D
      This... is... LATVIA! :f_biggrin:
    • MatejM47
      MatejM47
      Black
      Joined: 21.01.2010 Posts: 1,193
      Originally posted by Ejeckt
      Originally posted by MatejM47
      Well this highly depends on your definition on ''wealthy''. Do you consider someone working 12 hours a day 350days a year and making 20million a year wealthy? He sure is rich but imo his definitely not wealthy. Personally i prefer a decent amount of money + my freedom then a shitload of money that i actually have to work for.

      I guess i just don't care that much about the villas, yacths and having a bunch of expensive cars. That not to say i don't care about the money but as long as i make at 5k a month which is more then enough to support the lifestyle im accustomed to.

      On top of that i actually love playing poker. Like when i take a week off i really can't wait to start playing again and i know very few ppl that are excited to go back to work after their vacation. Not to mention i don't have a boss who bitches about waking up at 2pm or telling me when and what to do. Last time i woke up to a sound of alarm clock was in 2012 and pretty much the only responsibility i have is grind those 4-5 hours after waking up and then im free to do what ever i want for the rest of the day.

      Like that saying goes,

      First your young and you have health/energy and as much time as you want but no money,
      Then you start working while you still have health/energy and money but now you have no time,
      And then ppl finally retire and have time and money but at this point you no longer have energy/health

      With poker i can have all of that right now.

      Fwiw if someone offers me 10 times what i make now for me to go work 9-5 for the next 40 years the answer is a definite no.
      +1 That's a very good and reasonable attitude to have.

      What I mean is this.

      Example 1:
      I want to be a millionaire and drive a Ferrari and travel all over the world. Is poker a viable way to get to that goal? Will it work for me like it did for Phil Ivey and Tom Dwan and Chris Moneymaker?

      Example 2:
      I want to be a millionaire and drive a Ferrari and travel all over the world. I read a business book and have a few ideas for a business. Will I be able to create a successful business like {insert any successful well known entrepreneur here}?

      Both instances the person would have to work very hard. But the second one just seems that much more likely, doesn't it?
      Well that depends. Do you really think that starting the business is that easy and that there's no luck involved? And you need a starting capital which is really hard to get this days. Im not sure about the numbers but imo no more then 1% of the newly started business will ever get to a point where they will make 1million of yearly profit.

      Im not sure how much you can make if you beat nl1k and higher stakes and if those games run often enough but im sure there's a few players still making around a million a year.

      But im pretty sure making 200-300k shouldn't be to hard if your beating midstakes at a decent rate.

      And i don't think the games are getting tougher by the day, the games got tougher twice in the last 10 years, first after UIEGA and then after black friday, both directly related to the lack of the American fish. What happened after black friday is that pretty much every good US reg that makes a 100k a year moved out in order to play poker so we still have all the good US regs still playing while there is pretty much 0 US fish playing.

      I think that when and if the US sorts out their current poker situation and US market opens up again that games will get better again and higher stakes will run more often.
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