The online gaming industry has seen a steady increase in revenue in the past few years and this is predicted to grow. PRNewswire reports that the market is currently worth $61.5 billion and is expected to grow to $114.4 billion by 2028 – a compound annual growth rate of 10.9%. As the industry continues to attract new players, more people are looking to online gaming as less of a pastime and more as a way to generate a lucrative source of income.
Within the industry, poker is proving to be one of the most popular games people are playing to increase their earnings. One reason for this is the many examples of online poker players who have made it big. Poker.org lists Tom Dwan as one of the richest players in the world, he currently has a net worth of $10 million, and most of his earnings came from online poker. While he is a poker pro, he does demonstrate that the online version of poker can be just as lucrative as the physical version. But before you choose online poker as a lucrative stream of income, here are a few things you should know:
Understand the basics
When playing online poker, it is important to note that these games normally play much faster than traditional matches. Many of your opponents will be seasoned online poker players so knowing the basic principles of the game is essential. In HowToStuff.com’s poker write-up, it is explained that a few key principles you should know by heart are the hand rankings, betting risks, and calculating stakes. Knowing all of these will help your poker games go more smoothly and lessen the probability of you consistently losing the pot.
Like any other online game, turning online poker into a career means being patient and practicing your skills. As noted in our past article on the ‘10 Benefits of Fantasy Chess Online’, we explained that these kinds of games require total concentration and it is only by playing that players can get better. The more you practice, fully devote your energy to a game, and apply the basics, the better you will be at defeating opponents in real money matches. Practice is key to turning online poker into a viable way to gain more income. The good news is that many online poker platforms offer free-to-play games where no real money is used. If your poker skills are rusty it is recommended to re-familiarize yourself otherwise you could easily find yourself making heavy losses due to poor decisions.
Try playing multiple tables
Once you have gotten the hang of the fast-paced environment online poker is known for, it is time to truly put your skills to the test by playing multiple tables. Many platforms allow you to stack matches and let you play different games at a time, so this is an important skill to have if you want to increase your probability of winning. You can start by participating in low-stakes games and working your way up once you are comfortable with the pacing. The more games you play, the more you are set to win and the greater your income will be. If you get adept at playing multiple high stakes games your earnings could be quite lucrative.
Understanding the basics, honing your skills, and playing multiple games at a time are just a few of the surefire ways you can increase your winnings in online poker. Just remember that it doesn’t matter if you have the raw talent for the game or not– what matters is the time and effort you put into getting better.