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Taking Finances into Consideration before Turning Pro
The popularity of poker has increased by leaps and bounds over the last ten years. The World Series of Poker (WSOP) and World Poker Tour (WPT), as well as other televised tournaments, have left an impression on millions of people that playing what may seem to be a simple game can lead to thousands, and even millions, in profit. They see professional players betting and winning large sums of money and think that they, too, can easily replicate the feat.
Being a professional poker player is a lot harder than it looks, though. Out of the millions of poker players out there today, only a fraction of them can really claim that playing poker is their sole source of income. Those that do go on to become poker pros, though, get to live out their dreams of making money while playing the game they love.
If you are serious about being a full-time professional poker player, there are a lot of factors you need to consider. One thing to think about is how ready you are financially. If you do not have a substantial amount of money set aside for poker alone, it will be hard to start a playing career.
When analyzing your financial capability to play poker, there are many things to think about. Can you even afford to make poker your main source of income? Do you have enough money to start a career while having a large amount set aside to pay your bills and expenses? As a general rule, you should at least set aside enough money for almost a years worth of expenses. That way, you can focus on playing poker full-time without having to stress over your mortgage, insurance, and other bills if you ever go broke on the felt.
Once you do start your journey as a pro, you have to have good bankroll management. The stakes you play and the kinds of tournaments you enter should all be based on how much money you have set aside for poker. Obviously, you should not be entering a WSOP main event anytime soon when your total bankroll is only $20,000. In addition, you should not be playing in high-stakes cash games with that same amount.
So how much money should you have set aside from tournaments and cash games? For tournaments, you should have a minimum of 40-50 buy-ins for the type of events you want to join. For cash games, you should always sit down at the table with at least 20-25 buy-ins for the level you intend to play at. That way, you will be better equipped to handle all the downswings and bad beats that come with playing the game.
Once you have taken the financial aspect of the equation into consideration, you will be one big step closer towards your goal of being a professional poker player. After all, you cannot start playing poker for money if you do not have enough to begin with.
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Online Casino Bonus
Online casinos are practically taking over the online gambling world lately. It seems that they have been doing their best to tempt more players to try their luck at online casinos. They have come up with enticing offers to catch a potential players attention. One such promotion is offering different types of casino bonuses to get people into playing on their online casinos.
Casino bonuses are offers that are being dished, rather freely I might add, by online casinos. A player receives casino bonus betting money to wager on the several casino games being offered. The amount may differ for different online casinos. Some may give out 25 to 50 dollar bonuses for a minimum bet. There are even some online casinos that can offer a 100 percent match bonus for every deposit that the player makes. This means that if the player deposits $200 in his account, the online casino will match that amount in full, making the player acquire $400 initial betting money on his account, very seductive right? There are also other casinos offering bonuses next to nothing, just to give you a taste of playing online, a couple of wins and more often than not, hooked to play some more later on.
This is not easy money,well not as easy as it sounds anyway. There are certain requirements that you have to follow in order to cash in on your proceeds. Online casinos have put these measures in place to avoid being robbed blind so to speak. One of the usual requirements is that a player should wager at least 25 times the amount of deposit and bonus before being able to cash in. There are some games like baccarat, craps, roulette and sometimes even blackjack that do not count in meeting the required wagering provisions.
Casino bonuses can really attract players into getting started on online betting. Personally its the flashy ads that I find tempting. The bonuses have provided a regular stream of online players which has turned out to be lucrative for the online casinos. Moving on to more shadowy news(for the casinos anyway) some people attempt to take advantage of this offer in order to cash in on casino bonuses. Lets call them ‘bonus hunters’ These players abuse the casino bonus offers by opting to cash in on their winnings after all the betting provisions are met. Of course these actions are not in the interests of casinos and are therefore strictly prohibited. This violates the condition that players may only play for recreational purposes only. Online casinos are always on the lookout for bonus hunters whose promotional privileges are usually revoked when caught.
Online casinos are rather serious about the whole affair so its best to gamble within the confines of the requirements. Refraining from maintaining multiple accounts when playing in an online casino is probably a good idea. Also try not to cash out on your winning before fulfilling the casinos wagering requirement. A sudden increase in the amount that you bet may make the casino throw a red flag at you. Lastly provide the correct credit information and avoid having irregularities on your credit card. Wrong information will most likely get your casino bonus privilege revoked and at worst get you barred from betting online.