The Bankroll You Need to Play Poker for a Living
Recently updated on January 20th, 2023
Before delving deep, we must say that playing poker for a living is risky. This is for obvious reasons; you will lose at times, no matter how good you are, and you lose even more. However, we’ve got you here if you intend to play poker for a living, regardless of the risks.
On a positive note, it is estimated that professional poker players make between $600 and $10 000 per month on average. The amount each player makes often depends on their poker game skills, some luck, and their risking abilities. And again, playing poker for a living is very risky.
The Average Amount You Need to Play Poker for a Living
The average amount of money you need monthly for cash games is between $2 500 and $5 000. The question now is, can you afford to lose that amount monthly for a year and still be able to survive? If yes, you can start playing poker for a living right away. If not, we can be a little optimistic and say, can you afford to lose that monthly for six consecutive months and still cover your daily expenses? If you cannot, we suggest you raise your bankroll first.
On average, you need at least $30 000 up to $60 000 per year. Remember, this is just the amount you can afford to lose. Since you will not always lose, you can actually afford to make a living playing poker if you have that yearly budget.
Tips to Manage Your Poker Bankroll
If you are planning to start playing poker for a living, you need to be able to sustain yourself whilst also chasing the chips. We have put together some tips to help you on your way to becoming a full-time poker player:
1. Set Aside Your Poker Money
To be able to afford to play poker for a living you need long-term poker money, and the shortest a long-term can be is 12 months. So as stated, you need a minimum of $30 000 per year set aside strictly to play poker. Once you have your yearly poker budget you can then break it down to 12 or 11 months depending on whether you will need a vacation or not.
2. Don’t Use Your Non-Poker Money to Play Poker
If you exhaust your poker funds, you should avoid using money that was never meant to play poker. It might happen that you sometimes lose more than you might have anticipated. In that case you should avoid going into your other funds just to play. If you want to be playing professionally poker player, you need to be disciplined.
3. Set Timeline Limits
If you have set aside $3000 to play poker monthly, you must decide which days you will play and how much you intend to spend on which days. Remember, this is your full-time job, and budgeting is the only way you can afford to continue doing it.
4. Play Poker Like You are Playing it for a Living
Get your hands on every poker book you can get, practice, read poker strategies, and talk with poker pros. To turn playing poker into a career, you must be the best at it. You must be playing better than anyone who plays poker for fun.
5. Don’t Obsess Over Your Poker Balance
You will lose, and you will win sometimes, so don’t be attached. Don’t check over your poker cash flow every now and again. This can only give you anxiety or make you so happy that you risk more.
6. Keep Your Winnings Apart from Your Budget
Since you will have your annual poker money, you don’t have to keep your winnings alongside it. Remember, your winnings are meant to sustain you in the future.