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How to Play Poker for a Million Dollars

Poker is great for making money, and this game is lucrative, and it’s possible to dream of making $1 million or more in poker. Grinders like Dan “Jungleman” Cates, Phil Ivey, and Daniel Negreanu are prime examples of those who have made it big in the game via hard work and dedication.

Of course, having poker heroes to aspire to is only part of the equation for becoming a highly successful player. It would help if you lay out a clear path to success. In this article, I will cover a variety of ways in which you might earn $1 million. Each has pros and cons, but they all provide you a chance to make a lot of money playing poker.

Increase Your Tournament Points Total

Most people who become millionaires in poker do it by winning a large event. Winners of the WSOPMain Event and other major tournaments have taken home millions of dollars in cash. Poker tournament winner Chris Moneymaker is the most well-known example of a regular Joe who won big. Using a PokerStars satellite, the former Tennessee accountant won a $10,000 seat in the WSOP Main Event, which he subsequently turned into a $2.5 million payday. Since then, Moneymaker has been a role model for those aspiring to play poker professionally.

There are only a few major online tournaments each year, so you’re working with a restricted supply. The only way to find million-dollar games is on PokerStars. There are dozens of land-based high-roller poker tournaments that pay out more than $1 million. However, the buy-ins can run into the six-figure range. As a result, tournament buy-ins might be prohibitively expensive. For even the cheapest large events, the entry price can run as high as $5,000 or $10,000.

This is a lot of money to invest in a single opportunity to get wealthy. In these situations, you’re participating in the form of a skill-based lottery. A large event can require hundreds of buy-ins for even the best players to win. As a result, turning a single buy-in into a substantial payment would necessitate a major stroke of luck. For those who don’t have a lot of money but still want to participate in a tournament, online satellites are a great way to do so.

Become a Multi-Table Rakeback Winner!

Risking large sums of money and dealing with multi-million dollar swings in high-stakes games may not be for you. Multi-tabling online is an option if you want to earn $1 million. Small winnings on many tables and Rakeback are the basis of this strategy.

With stakes ranging from $1/$2 to $5/$10, it may seem hard to win seven figures. In contrast, Randy “nanonoko” Lew has earned $3 million in his career by exclusively engaging in low-stakes multi-tabling (about a quarter of Rakeback). Of course, Lew is an outlier because he can profitably play 24 tables at once. Hearthstone pro proves this method has worked in the past.