Although many people treat poker as a gambling game, it is actually a game of skill. Sure, there are elements of luck in poker, but that is the case with any sport or strategy game. Whether we are talking about golf or football, there are always aspects of the game over which the participants have no control. But the one thing these games all share is the ability of skilled people to win more than they lose over the long run.
This article will show you how to make money with online poker. The concept is actually pretty simple, but implementation is difficult. Like all forms of competition, it requires discipline and dedication to make consistent money with poker. If you would like to earn money with online poker, follow the steps below.
1. Learn Poker Strategy
This first step should be no surprise. Poker strategy is the key to making money with online poker. Everything else comes second to actually knowing how to play the game in a savvy manner. There are millions of resources out there that you can use to learn poker strategy.
First, I recommend you get a couple of basic poker strategy books. Go to your local bookstore and pick up a copy of Theory of Poker by David Sklanksy and Small Stakes Holdem by Ed Miller. These two books will teach you the fundamentals of poker – why you should play tight and how you can succeed in small stakes poker games.
Next, join an online poker discussion forum such as TwoPlusTwo.com or FlopTurnRiver.com. Those sites have thousands of members who all share one thing in common: a love of poker. You can discuss strategy with these people, analyze hand histories and make new contacts. Poker forums are a massive resource for learning advanced poker strategy that you can’t find in regular poker books.
Eventually, I recommend a membership to a poker training site such as Cardrunners.com or DragTheBar.com. There are dozens of poker training sites out there, so do a little research and find one that looks like a good fit for you. Poker training sites are more expensive than books or poker forums, but they are invaluable sources of information.
2. Choose a Game
Choose one game and devote yourself to becoming a master of that game. I recommend Texas Holdem because it is the most popular poker variant. It’s the easiest game to find active tables at all stakes and it is the game that most fish begin with.
Once you choose your game, you will also need to choose a game type. This basically boils down to choosing between ring games and tournaments. Ring games are my personal favorite because they allow for a more steady, consistent source of income. Tournaments can also be highly profitable though, because the occasional big score in a tournament can set you up for life.
Both ring games and tournaments can be even further broken down into sub-types. Ring games, for example, can be broken down into 9-man tables, shorthanded tables and heads-up tables. If you choose ring games, your best bet is to start with 9-man or shorthanded tables. Heads-up poker is a difficult game-type to master and it can lead to some very wild swings.
If you choose tournaments, you can choose between regular multi-table tournaments, heads-up multi-table tournaments, shorthanded multi-table tournaments, satellite tournaments, double-or-nothing tournaments and single table tournaments. I recommend beginners start with either regular multi-table tournaments or single table tournaments. Once you master one of those two types of tournaments, you will find it easier to learn additional types of tournaments.
3. Play the Game
Studying poker strategy will only get you so far. The real learning comes when you actually put hours in at the tables. Start out with small stakes games and learn how to beat those games first. You should start out with small stakes games because they are easier to beat (which will help you learn basic strategy) and it doesn’t cost as much to get through your initial learning phase.
Be honest with yourself when you play the game. If you consistently lose money (which is normal for new players), do not blame it all on bad beats or rigged poker sites. Everyone suffers from bad beats, but the professionals know how to win despite bad beats. If you can’t beat the games, you need to find and identify what you are doing wrong and fix it. The poker forums mentioned above are a great place to get feedback on this topic.
When you’re ready to play, choose a poker site, make an account and deposit a little money. Check out the link below for a list of recommended poker downloads:
4. Get Poker Tracking Software
Poker tracking software such as Holdem Manager is an invaluable learning tool for new players. It allows you to record every hand you pay and it collects a vast database of statistics. From these statistics, you can see which hands are losing you money, which hands are making you money, how you play from every position and much more.
Poker tracking programs help you see any leaks in your game and plus those leaks. Plus, people at your poker discussion forums will often ask you for stats when you ask for help. You will eventually learn what every stat means and how you can adjust your play to become a more profitable poker player.
Additionally, poker tracking programs help you keep stats on your opponents. Every hand that you play is logged along with every hand that you witness. Eventually, you will start to collect a database of statistics on your opponents. You won’t be able to see their hole cards, but you will get a basic idea of how each opponent likes to react in certain situations.
5. Learn Self Discipline
You may already have plenty of self-discipline, but poker requires a different type of self-discipline. Poker is different than most activities because you are not always rewarded with positive results when you make the correct decision. Sometimes you will make the perfect play and still lose money due to a bad beat. Sometimes, you will make a boneheaded play and win money out of sheer luck.
The rewards system in poker goes against the natural human learning system. When we use poker strategy, we are punished and rewarded seemingly at random. As a serious poker player, you have to learn how to separate decisions from results. This requires great self-discipline because you need to be completely honest with yourself about every decision you make.
You also need self-discipline to follow proper bankroll management guidelines. Bankroll management simply means ONLY playing in games for which you have the right bankroll. It is all too easy to get frustrated or bored and move up to high stakes games for which you are improperly bankrolled. You can do a little research online to learn more about self-discipline.
Conclusion
Anyone can learn how to become a winning poker player with enough dedication. The steps are not terribly complicated, but you do need to put in a lot of effort to actually make it happen. Online poker is a game of competition, and to win money you need to play better than the majority of other players. If you put in the work and remain humble, I guarantee that you have the ability to become a long term winning player.