People play online poker tournaments to make money, and there is nothing wrong with that. But it is important to do it right. You need to be extremely disciplined and knowledgeable about the game. You also need to have the right strategy, bankroll, table selection, tilt control and many other things to make money playing online poker.
Gameplan to make money playing online poker:
The best place for people to start playing poker online and turn in a consistent profit is by playing low stakes cash games. Earlier, it used to be easy to make more money at the very lowest stakes cash games. However, it has become very difficult to do this in today's games.
The win-rates have also dropped because the games have tightened up in the last few years. However, it is still recommended to play low stakes cash games to earn consistent profits.
How you play your cards is extremely important if you want to make more money in online poker tournaments. The best strategy to use is TAG which stands for "Tight and Aggressive". This is the strategy you should be playing with to make the most money in micro or low stakes cash games.
A TAG poker strategy means:
You have to be very selective about which hands you want to play.
You have to pay very close attention to your position at the poker table while deciding which hands you want to play. You have to play very aggressively right after the flop.
Poker is almost like a chess game. You have to gain a position and make a very decisive and aggressive action when the opportunity presents itself.
Cash games are not the only way to make money playing poker online. Many people also consider playing big multi-table tournaments or SNGs (Sit and Go's). You probably can't reach your target playing at the very lowest stakes, you have to move up a few limits.
You also need to develop a solid TAG strategy for online poker tournaments but also have to tailor it differently according to different formats.
For example, in online poker tournaments, the stack sizes are very shallow by the middle and late stages (30bb or less). This means you often have only two options, all-in or fold. If you try playing "small ball" style pots, it won't work out for you.
Final Words of Advise
It is possible to make more money by playing online poker but you are going to have to learn some advanced poker strategy and make sure to select the tables wisely.
To make more money, you also need to go up a few limits which means you have to increase your buy-ins if you plan to play a winning poker hand. Don't forget to work on your tilt control because in low stakes poker tournaments you are going to face a lot of crazy players.