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Online poker: Between Ruin and Fast Wealth

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June 10, 2019 7:25 am

Poker news

Online Poker Cards Game Chips and Laptop Earn Money With Online Poker

“All-in,” “Raise,” or a disappointed “I’m out!” – the poker fever in Germany is still unbroken. But can you not only earn the fast money with online poker, but also secure your livelihood permanently?

On-line offerers such as Pokerstars are here in this country at the latest since the TV totally PokerStars.de night everyone a term. Stefan Raab managed it with the Event to make Pokern as a hip Lifestyle socially acceptable.

From on-line Poker live – is possible?

According to a study by Pokerolymp, there were more than 357,000 registered real money players in Germany in 2013. Playing on the computer and earning money at the same time – for many a fantastic idea. How exactly does this work and how quickly does dreaming become an illusion?

The poker professional Martin S. (31), who comes from Berlin, has answered our questions. Why he lives like many other German players in exile has a simple reason, he explains: “As for example also in Austria play winnings obtained here in Stockholm do not have to be taxed. This freedom of movement in terms of tax law makes countries like Sweden and Austria a gambling Mecca for countless players from all over Europe.

At the poker tables of the virtual world, however, the inexperienced beginners and recreational gamblers are the main players alongside the experienced professionals. Many of them just want some entertaining entertainment, but some are looking for financial success.

In order to play poker successfully, a player needs above all willingness to learn, discipline and stamina, says Martin S.: “In the beginning, poker may be about luck, but much more important is skill. That means: play, play, play. Never give up and above all: never stop learning.”

Online poker portals

Only those who are clever and know their way around have a good chance of making high winnings in the virtual poker game. For the preparation Poker expert Martin suggests: Before the first attendance of one on-line Poker portals such as Pokerstars, Partypoker or Everest Poker the attendance of a basic course in a poker school is highly recommended. Like the Poker portals themselves also the schools are to hundreds in the net. There is taught for example on the basis play videos, how one plays Poker and wins hands. Analogous to other tutorials and instructions, similar instructional videos can of course also be found on Youtube.

Warm-up with play money

Another tip Martin emphatically emphasizes: “Play poker with play money”. Beginners should practice and internalize learning strategies best in rounds with play money stakes. Such an option offer all usual poker schools. Thus the possibility results of learning and of improving to estimate the own being able surely. In play money mode you can safely test and in some cases even win real money in the end.

True to the motto “Practice makes perfect”, the formula for success is that the player’s chances of winning increase with increasing experience.

Get in low and make it big

In order to avoid fast losses, beginners should always start with low limits,” Martin recommends, “also because there are essential differences between the play money mode and real gaming to get used to.” “The game is played in the same way as the real game. So if the player doesn’t want to run the risk of having to fold prematurely right after an all-in, it’s better to slowly approach the larger pots.

Risk control through clever BRM

“It’s not a question of luck to stay in the game for a longer time and maybe even play a little higher in the game later on, but it’s a question of the right management” explains Martin. Through bankroll management, poker players can reduce their risk of losing all of their invested capital. This reduces total losses to a minimum.

A golden rule for this is: Online poker players should have at least 30 full tournament buy-ins before taking a seat at the virtual poker table. In the so-called cash game, a game in which every bet is made with real money, the factor 100 is recommended. This means that with a big blind of one euro, you should best go to the table with 40-100 euros and have at least 2000 euros in your account. If this is not the case or if the player has already fallen below this limit due to lost rounds, then it is time for him to leave the table to increase the remaining capital at tables with lower limits.

Understanding Variances

Whoever wants to play tournaments should be aware from the beginning that they are exposed to an enormous variance. “Most amateur players are already overwhelmed to reach an adequate playing level.

understanding of variance
Legal and psychological risks
There is always a risk to the game and therefore to the player. This applies both to the poker table itself and away from it. Poker professionals move legally as well as psychologically on thin ice.

Generally the consumer protection warns Germany on-line before these five player traps:

(After current legal situation) criminal offence exists due to the participation in forbidden gambling.
Malware poses a high security risk.
Possible misuse of data when depositing money into a player’s account.
Bonus credits cannot be paid out in principle and there is also the risk of theft of amounts already deposited or won.
In the event of damage (e.g. fraud), no legal remedies are possible due to the ban on gambling.
In addition to the danger of gambling addiction, in extreme cases there is even a risk of trouble with the authorities. As soon as a player follows the Pokerspiel commercially, thus actually its living thereby earns, it must transfer income taxes accordingly to the tax office.

With tax software easier declaring taxes

From hobby player to professional
Just like lotto and casino games, poker is classified as a game of chance by the state. This results in a tax advantage, as income from legal gambling, which can be attributed to private assets, is tax-free for the time being (this includes a profit in the millions in Las Vegas). For the same reason, however, no losses can be claimed which had to be raised in the context of the winnings, such as travel expenses, stakes or losses on these stakes.

Attention: Capital gains such as interest or dividends, which are generated by gambling winnings, must be declared in the tax return and thus taxed.

The situation is quite different for professional players who earn commercial income from their games in accordance with § 15 EstG. For professionals, the amount of the tax is calculated on the basis of the actual income generated (less income) in the same way as for normal employees.

The classification as a leisure player or professional depends on a number of different factors. Important is here above all whether serious profit intentions exist, whether the spent time can be categorized with on-line Poker as working time and whether still further incomes exist or not.

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