There is a secret for every player entering to the poker world. The secret information is that you can even earn profit from it. Can you make a living with the profit? Is the profit offers you real money to make a living? The answer of questions depends on multiple factors. Here are some tips that will guide you how to play poker online to make a living.
Poker is an interesting online game where you can earn lots of profit if you play safe and responsibly. To calculate your profit, you must know the concept of rake back amount, and this means that you should learn how to play like the online poker sharks. This rake back amount is further calculated by different formula that gives you an idea about your regular income. Today most of the people play online poker to earn profit, not for just making fun.
Rake is simply the money you pay to the poker rooms to play online poker. When you play poker for profit, in that case poker rooms will charge some money from the player. That fee is called Rake. Rake back is the refund of amount you pay to poker room. They will pay 25-40% of paid amount every month. Suppose initially you invest 1000$ and poker room are paying 25% then you will get 250$ each month. In first four months your initial investment will be covered then you will start earning from it.
Players play a big amount for becoming a special member of Poker. Now the question arises how player can calculate his rake back amount. It is not as simple as discussed earlier just on percentage basis. Actual rake back is calculated on MGR (monthly gross rake) basis.MGR is gross profit that a poker room will earn from poker player. On that basis percentage of return is decided.
We can use one of the three methods. First is Dealt method, in this method if rake is taken from pot then MGR can be calculated by the following formula: ($amount raked from pot/amount of players to be dealt in) =MGR. then player will be paid Y% in rake back. For example if raked amount is 5$ and number of players are 10 then MGR would be $0.50.
Second method is Average contributed method. In this method player not only rake with pot, but also have to make some contribution in some way. For example if there are total 10 players and only 6 make contribution. Then MGR can be calculated by the following formula: ($amount raked/number of players contributing to pot). For above example MGR would be $0.50 for each player.
Last method is weighted contributed. In this method MGR is calculated for each player according to its contribution. Then formula for MGR would be: (amount contributed to the pot / $ amount of pot) * ($ amount raked) = MGR. For example one player out of 10 has contributed 5.65% of total amount, and total amount is 200$ Then MGR for that player would be (.56/$300)*($3).
The formulas are simple to use and you can use them to calculate your earning when you play online poker. Now it is clear that online poker is a good source of making a living for you but you have to play responsibly.