Doug Polk Reveals Income Of Poker Players | Wclub365
The income of high stakes players is an interesting and controversial topic. Poker tournament results published by poker strategy chart tracking sites reflect only a portion of their income, and professional players are usually very cautious about their accounting status, it is difficult to clearly understand the income status of top players and their net worth. Fortunately, high stakes professional poker player Doug “WCGrider” Polk recently released a new video on Youtube that tells us how much money a poker player can really earn.
According to Doug, most high stakes players worth $ 1-5 million don’t even have a $ 1 million deposit. But a variety of sponsoring organizations are willing to pay them a $ 5000-10000 tournament purchase fee, so they can participate in high-buy live tournaments.Not so many players have net worth between $ 5 million and $ 15 million.
Many players earn $ 300-10 million in their careers, but this money does not include their upfront investment, taxes, travel, Wclub365 gambling fees and so on. Such as Heathendom poker statistics sites like com do not take their buying fees into account when tracking hand profits,so we get a very inaccurate result of the real income of the hand. Some career poker players with a profit of between $ 15 million and $ 20 million may now have only $ 4 million to $ 6 million in assets, which is speculated that they do not receive 100% sponsorship (sponsors usually based on equity dividends), which is usually impossible. Doug estimates that only 15-20 people currently earn more than $ 10 million from poker.
Finally, Doug argues that while Playboy Bilzerian claims that all his money comes from poker, in fact most of his money comes from his father, so Bilzerian can’t be considered a person whose poker profits exceed $ 10 million.
Online tournaments and online cash poker board
According to Polk, good online tournament players usually pay a purchase fee of $ 30-40 million per year and are expected to reap a return of $ 20-30 million based on their investment.But because of the high volatility of multi-table tournaments, often makes the previous year to get a good harvest of players in the next year long-term loss or loss.
Cash table players playing Zoom Poker at the NL500 level are expected to earn $ 10-20 million a year.Because of the unstable environment disturbed by the seat-finding script software, high stakes cash table players income is more difficult to estimate. So unless you’re OtB_Baron (who probably made $ 5-10 million in the last three or four years), you’re estimated to make $ 0-100 million a year.
As for players who have been playing live poker tournaments for many years, they are expected to earn $ 30-40 million a year if they pay attention to game choices and travel expenses.Calculating the earnings of professional players in live tournaments is a bit cumbersome because Heathendom. sites such as com do not include the player’s purchase fee in their statistical reports, and these sites can not know a particular player in a tournament to the patron after the dividend can get how much Bonus.
That being said, live poker tournaments are the real way to make big money due to the existence of lucky streaks (such as the recent unstoppable Fedor Holz and Dan Coleman). As for high stakes cash poker, it is now the wild Big West of regular players. The world’s largest hand is a private cash game, and Doug Polk admits that his knowledge of such a private game is not enough for him to speculate.
Death and taxes
The discussion about poker player income cannot be complete without mentioning taxes. According to Doug, taxes are absolutely cruel to American poker players. Some people who earn six or seven figures are expected to pay 42% federal income tax. Doug points out that because of different tax laws in different countries, European and US players who win the same money may have very different economic conditions (US taxes are ridiculously high).