To become a professional poker player means that you are very good at playing poker, this obviously goes without saying. Winning poker games, tournaments and making money as poker being your primary source of income allows you several benefits.
At the same time, playing poker professionally comes with huge risk. As a poker player, you have to have at the back of your mind that fortunes can change any second and you could end up losing money, a lot of it in fact, at any given time. Risk management is an important trait.
So what can you invest in as a poker pro? In this article, we share some of those things.
Investing in yourself as a poker player
There is no better or even more important investment as a professional poker player than doing so in yourself and your career. In order to make more money as a poker player and increase your chances of winning more poker tournaments and getting more from cash games, there is a need for you to spend money to improve yourself.
You can register for more online poker courses that require a registration fee. Here, you will be able to gather information and learn new skills that will help you play poker at a higher level than you currently are on.
You can also register for physical seminars and classes that are not online to get a first hand experience from professional poker players on the things you need to do at the poker table when you play as well as new strategies and poker tips that will see you have an edge.
Investing in yourself also means investing in your body. Playing poker professionally, especially if you play live poker, means that you will spend hours at the tables, so it is best that you invest in your physical health.
Gym subscriptions, dietary plans and even your own nutritionist can go a long way in improving stamina and mental clarity when playing online poker, as a strong body translates to a strong mind.
Investing in other players (Poker stable)
A poker stable is a group of poker players that are sponsored by a backer to participate in other tournaments. Establishing a poker stable of horses (poker players) with your poker winnings is a smart strategy to generate passive income.
As we all know, variance is omnipresent in poker and just because you back a poker player does not mean the return on investment is assured. This means you’ll have to determine how far you’re prepared to allow the markup run if your horse is losing.
Before you get into a staking arrangement, make some ground rules for yourself and your horse. This manner, all parties are aware of what to expect in both good and terrible scenarios.
You also have to consider if you want to stake on cash games or tournaments and whether you are looking to back someone who is still learning the ropes in order to train them or if you are looking for a seasoned professional poker player who can make you money fast.
If you don’t want to locate the players you want to invest in yourself, or you feel like you may not be a good judge of talent, there are websites where you can invest in poker player shares.
Investing in cryptocurrency while you play poker
Most poker players are aware of cryptocurrency and the incredible gains it has made in recent years. Because poker players are risk-averse, many of them jumped into several ICOs without doing any investigation. During the 2017 bull run, doubling up and hitting and running was a common approach.
Now, the market appears to be radically different, with Bitcoin and Ethereum appearing to be the safest options for long-term returns. What coin are you going to stake your online poker winnings on?
It is critical to understand that investing in cryptocurrencies will not result in a quick 1000% returns. Prepare to hold for the long term on fundamentally sound currencies. It’s kind of like poker staking.
Would you stake a horse at random and hope he hits his one and only? Or do you choose a player with a positive ROI and a solid fundamental grasp of the game to bet on?
In truth, there have been many good professional poker players who have succumbed to FOMO and started investing in bad coins at random. You need to be careful when you decide to go this route in the poker world.
Invest in Real Estate while playing poker
When approached correctly, investing in real estate can bring you lucrative ROI both short and long term. You can decide to invest in Residential, Commercial, Industrial or even Land real estate.
Investing in real estate creates a ton of possibilities. For example, you can get interest from loans, appreciation of your land or units, or collect rental payments.
A small note, don’t underestimate the amount of work it takes to manage real estate. There are different stressful situations that may come about, especially when it comes to the tenants.
A good property manager can save you from this but cuts in your ROI. If you are lucky, you could find a trustworthy tenant who stays their entire life.
The Metaverse could appeal to younger online poker players
The Metaverse, like cryptocurrency, is gaining popularity. Famous verses like Decentrall and Sandbox have experienced enormous investments in recent years, and they are also beginning to provide some excellent prospects for passive income.
Those who own digital real estate on these platforms can rent it out for commerce, advertising, and other uses. Of course, a large portion of the money generated by these investments is in the form of cryptocurrencies and NFTs. Yet, as we’ve seen previously, there are several advantages to these.
Metaverses are whole new worlds for individuals to explore. If you have the time and patience to figure out how these things function, the potential to make more money as you progress in your poker journey is enormous.
