Yeah i know some of you is thinking “well isnt poker just gambling your money away?”. Im not saying you should invest all your money in poker, i just want to show you that poker could be an investment opportunity, that could be a fun journey at the same time.
I use poker to get a side income, and im mostly playing it because i think its a fun spare time activity, and a fun way to make some extra money.
What is poker and why should i invest my money and time in it?
Poker is a card game that is about strategy, money management and brains. In poker you can be a tournament player or a card game player, but i will get in to that in a moment. The reason im suggesting that you put your time, effort and money in to poker is because poker isnt about luck, because in the end everybody gets the same hands. The key is to knowing when to fold, and when to bet.
I suggest you go take a look at some videos, blogs and websites that can give you some more detailed explanations on how to play poker if you want to invest your time in it. In this blog i will just explain why it can be a smart investment.
Tournaments or Cash games?
If you want to get rich playing poker, tournaments is the way. But be aware that if you decide to play tournaments you need a bigger bankroll and its a lot riskier. But in tournaments you get a lot more out of it, in tournaments you will usually get your “buy in” 50-100 times back if you win, meanwhile cashgames is all about slowly bulding more and more to your bankroll, and you dont lose your bankroll if you lose your buyin, so its a lot less riskier than playing tournaments. So before getting in to poker you need to decide what you want to be.
How much do you need for a bankroll?
You can start out with 1000 dollars and you can start out with 10 dollars, it wont make a big difference in the end. The question isnt how much you start with, its how much you should invest in each game. I would say that you need about 100 times your average buyin in tournaments, and 100 times your big blind in cash games. And you shouldnt invest any money at all if you just think its a “get rich quick” trick, because its not, its hard work, studying, and putting your time in to it.
Books to read.
I would suggest you do some studying before putting your money in to it, because its a lot about knowing strategies, what hands to play, and its an investment that takes a lot of time. So i have found some books that i think you should consider reading before investing your money.
- #1 Doyle Brunson – Super system: A course in power Poker
- #2 Gus Hansen – Every Hand Revealed
- #3 David Sklansky – The Theory of Poker
Good Luck With It!