Money in poker can a tricky subject. The earnings you see reported in news articles and ranking websites only apply to MTTs, and don't account for losses. Some players that appear to be balling out of control could very well be broke, while other players can make millions behind the scenes. Doug shares his unique perspective on money in poker and what players like Dan Bilzerian are really making these days.
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Doug, congratulations. Admitting you have a problem is STEP 1 on the Road To Recovery.
STEP 2 is to blame it all on Luke Schwartz. Then just wait for Daniel's vague and unsupported comments. LOL GREAT ending bit - really love the self-deprecating side to your humor
Jesus Christ man. If this video is typical of how you get your messages across to people, I can't watch anymore. You must love to hear yourself talk, because you just keep rambling on and on and on so much so without getting straight to the statistics of which you never did. Idiot
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I would never pay someone to play on my behalf, much less only get 10% of the profit. If I was a millionaire, I would play in the WSOP Main Event myself. After all, poker is not a game of all skills and no luck. If it was basketball, I would bet my own life that Jordan would beat anyone one-on-one. :)
Thank you for sharing an realistic opinion on poker players and playing poker in general Doug!I agree most of them and i thought like that even before poker players started mentioning the hole truth.Because the truth its not only that u can see, a good knowledge in poker and a healthy mentality brings the same thought u has mentioned in the video.Hope u will continue being honest and realistic so the players can know what kind of risks have to pass by playing poker
Doug if it's a 100k by in and you sold 80% 20k each (4 buyers of you at 20%) with the last one you putting up 20k so you have 4 people to payout do you set up a 5 people partnership and issue a K1 to each 20% partner for the wins???..lets say you win 500K you would have your expense buy in 100k minus 500k winnings leaving 400K divided by 5 80k each on a K1 or do you issue them a 1099-MISC??
LOLz that poker pros' biggest "expense" is taxes. Most pros' biggest expenses are craps, bac, heroin, and meth. (With the exception of just a couple of tournament pro's who have dropped into the cash games, I've only ever hung around cash grinders, though. So maybe all the top tournament pro's live cleaner, healthier, more DNegs-rabbit-food-and-yoga-kinda-lives...)
Fucking great entertainment Polk ! I'll challenge u to one heads up match on WSOP.com 100.00 or in my pizza joint I beat that pussy butters out of 50.00 lol. Seriously you're a funny SOB thanks great entertainment!
Doug very well said, I have been bankrolling several pros for the last 10 yrs or so and I must say I have done extremely well! I been quite lucky although most of my winning came through my decisions on who to use, what game or buy in. No names mentioned but you know as well as I do there are many pro's who couldn't afford a cup of coffee!
Bankroll and money management is the key! Just like any other business you have to keep your overhead down! Excellent video Doug and happy to see you being honest on what the real world of Poker is really about! So many young bucks think its easy and its far from that! Times have changed, players are different, computers and websites along with Live Poker games (Seeing hands & action) have changed the game!
This is not my real screen name, I am certain you know me but that doesn't matter, Keep up the good work Doug!
I hope I am not alone in this, but the though of playing poker for a living is just ridiculous. I am not saying it cannot be done, obviously it can, but where's your sense of purpose? Other than money, how is it rewarding? I get more from my career than just money, and I can also play a couple tournaments a month at the nearest Casino (WinStar for me).
To me, poker is a hobby that I am really into. Not unlike some people who build ship models in a bottle. It takes study and practice to get good, of course, but play for a living?? No thanks
Poker professionals are junkies, a few of them high-functioning. I'd be more interested in a video about all the players who went bust, and how they moved on with their lives. Otherwise, this is like hearing a heroin addict justify the day-to-day grind of his habit, pun intended.
Been an online player for years, bank roll has consistently increased and to the point now I am considering playing poker full time with how much I've made online. Do you have any advice? I'm strictly online and want to go live but still feel uncomfortable at live tables. Thanks for your time man.
I wonder if it would be more worthwhile to invest the same amount of time into a game that computers already haven't figured out how to beat and just forego poker at all? The game seems to have peaked. Then again, if someone wants to make serious money playing poker then maybe the way to do it is to play live games only like Texas Dolly did back in the day and just be a hustler going town to town. Online poker may be going to become like online chess where someone can just act as a intermediary to a poker bot and play what the computer tells them to in order to rape the "real" players on the other end. Next 10 years in poker are gonna be interesting.
Good video Doug. Also thanks for the reminder that most people who try poker never turn enough profit to quit the day job. If I ever become rich, it wont be by playing at a table with the likes of you, that is for sure.
Most poker players would be better off throwing their money into reddit.com/r/wallstreetbets. Making a living playing poker is far from easy, and requires a tremendous amount of discipline. You can't let bad breaks get you down, and you can't tilt - ever.