Poker is enjoyed by millions, but plenty of players have also made millions of dollars from it. From learning a classic card game and working their way through the ranks, the top mental athletes have gotten quite wealthy.
We will tell you about several people who have become millionaires from online poker or live games. You’ll find out who they are, how quickly they managed to achieve success, and whether it is possible to repeat their path today.
How Many Millionaires Are There in Poker?
The exact number of players who have won more than one million dollars in poker will never be known for two reasons:
- Tracking results online can be quite difficult
- There is often no 100% reliable data on the amounts played at cash tables, including because there are closed games. This is why nobody will ever know how much Dan Bilzerian actually won from poker.
An independent website, The Hendon Mob, keeps statistics on live tournament winnings. According to its data, 2,828 poker players have won more than $1,000,000 to date, but that number will certainly be larger by the time you read this sentence.
Two American players, Bryn Kenney and Justin Bonomo, are on top of the All Time Money List for live tournament earnings. Bryn has won upwards of $66 million, while Justin is slightly behind with over $64 million.
Quick Success Stories
The poker world knows many success stories, when players young and old literally became incredibly rich in a day or two. In a single event, a player could pocket well over a million dollars.
Chris Moneymaker: In 2003, Moneymaker won a seat in the WSOP Main Event in an online satellite for $86, borrowed money from his father for a flight to Vegas, and went on a trip. A couple of weeks later, he was celebrating his victory, having earned more than $2.5 million.
However, most players take longer to make their first million from this mind sport. Some of the most prolific stories come from legends like Daniel Negreanu, who took his shot at Vegas and failed, long before he was raking in millions of dollars. Then there’s Stu Ungar, the old-school prodigy whose talent was unmatched across multiple games.
See our Hall of Fame for other tales of poker millionaires.
How Can You Win a Million from Poker?
No one can guarantee that poker will quickly start bringing in fabulous money. It all depends on you – namely, on how hard you are ready to study and work on the game, not only in a technical sense but also psychologically.
The most important advice for beginners is to take poker very seriously from the very first steps. Then you will gradually come to success and achieve your goals.
How to Learn to Play Poker
Each person has their own path in poker. With experience, you will build your approach to the game and work schedule so there is enough time for everything. Even being young compared to more experienced players isn’t an obstacle with all of the resources available today.
We’ll share basic recommendations on how to start your career correctly.
Choose a Type of Poker:
Modern poker involves many formats, each with its own specifics. We will tell you about several of the most popular disciplines:
- Cash: This is the most classic type of poker, where the chips at the table are equivalent to money in a certain currency (e.g., dollars). You can leave the table at any time or sit at any other available one. The cheapest online game is with blinds of $0.01/$0.02.
- Tournaments: MTTs (multi-table tournaments) allow you to multiply your buy-in many times over. Even in a $1 tournament, if it is big enough, you can get more than $1,000 for first place. There are also tournaments (though more expensive) where the winners receive seven-figure prizes – for example, during large series (both online and offline).
- Spins: These are hyper-turbo tournaments for three (less often – two or six) people. The prize fund is determined randomly. There is a chance to hit the jackpot, although the probability is low.
Choose to Self Study or Get Coaching:
Self-study is mandatory even when working with a coach, since the mentor will not do everything for you. At the same time, individual training with a coach is the fastest way to achieve the desired result. Moreover, training at micro limits will never be too expensive.
If you need help finding coaches or backers, get in touch with our 24/7 free support service for poker players.
Will You Play Online or Offline?
Offline poker requires players to have decent budgets at the start, as you will have to lay out not only buy-ins but also money for travel and accommodation. If you have that, then live poker is both a profitable game and a great opportunity to meet interesting people.
However, most players choose the convenience and high traffic of online poker rooms. Live rooms won’t offer the bonuses, have as many tables, or operate around the clock like their digital competitors. Also, the range of stakes is significantly disadvantageous to anyone without a good bankroll already. You won’t find any micro-stakes games offline, but plenty online.
- Increased first deposit bonus
- Increased rakeback and reloads
- Help with deposits and cashouts
- Access to private freerolls
- Round-the-clock support