JavaScript must be enabled for Sign In.
Please check your broswer settings.

Home \ Community \ Blogs \

jergul

/Mar/2012

The business side of poker

By: jergul @ 00:16 (EDT) / 405 / Comment ( 0 )
I have been looking a bit at poker as a small business kind of opportunity, and frankly the exercise was a bit unnerving.

Take a baseline invoice rate of 100 dollars/hr to cover wages, taxes and overhead for a single person company and you get the picture immediately. This is probably the minimum of what can be considered a profitable business in any traditional understanding of the word.

This I think is an important thing to understand.We all know we can subsidize our poker playing in various ways - directly through increasing a bankroll (which is surprisingly rather trivial as these things go), playing from home, not using a bookkeeper, ignoring pension savings, or taxes. The biggest factor is of course wages. A business might appreciate a worker willing to work for peanuts per hour, but if that worker is me, then I am not so fond of the concept. So nominal profits might be positive. But that is still far from being profitable in a business sense. A winning poker player and a winning poker business are two different beasts.

Sharkscope says about 1/3 of players are profitable. Barry Greenstein puts the number at 20% after covering direct expenses, with 10% able to technically make a living out of it and 5% able to make both a living and bear the extra costs of a live poker playing lifestyle.

As a former deepsea fisherman, I know a lot about the costs of lifestyle. Money to burn until there is no money to burn. Then back on the boats again :) .

There are ways to supplement table earnings. To name two: Staking is something I see in this forum (but that intuitively does not look like a business winner, though profitable no doubt at times), or well...I would bet money you could sell stakes in a top ranked finish after the fact for much more than nominal value if you knew the right...or rather the wrong people.

From a business sense, playing poker resembles breeding cats or making homemade jam for sale.

Earn a bit, lose a bit, but like a lot, or its usually a waste of time.
In order to comment, you must login or register.
Take Quiz
New here? Take our Poker Assessment to start your education.
already a member? sign in here
JavaScript must be enabled for Sign In.
Please check your broswer settings.
Learn From basics to advanced strategy
Practice Improve your skills with our trainers
Win! Establish yourself as a winning player
/Featured Promotions/
Progressive Jackpot Progressive Jackpot Playing our new 'Scratch & Match' game is free and very easy. If you match 3 symbols you win a prize!!!! View details
Earn 10 Tournament Tickets Today! Earn 10 Tournament Tickets Today! Invite your friends to join Poker School and you could earn up to 10 tournament tickets as a reward! View details

Getting PokerStars is easy: download and install the PokerStars game software, create your free player account, and validate your email address. Clicking on the download poker button will lead to the installation of compatible poker software on your PC of 51.7 MB, which will enable you to register and play poker on the PokerStars platform. To uninstall PokerStars use the Windows uninstaller: click Start > Control Panel and then select Add or Remove programs > Select PokerStars and click Uninstall or Remove.

Copyright (c) PokerSchoolOnline.com. All rights reserved, Rational Group, Douglas Bay Complex, King Edward Road, Onchan, Isle of Man, IM3 1DZ. You can email us on support@pokerschoolonline.com