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Who Makes Money From Professional Poker?

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Poker is a game of extreme variance. Professional poker players can go stretches without winning or placing at a level that earns any cash. The wins, however, can make up for the droughts with players earning thousands to millions of dollars depending on the game or tournament entered. Considering poker is an inconsistent sport, players look to offset the risk involved. This is done through staking, where an "investor" will pay a player's way through tournaments for a piece of the action. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #WorldSeriesOfPoker Who Makes Money From Professional Poker?
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Text Comments (1208)
Corek BleedingHollow (6 days ago)
What kind of question is that? Who do you think? lol
Victor Popov (6 days ago)
Short answer : the casino
Adolf Fuhrer (7 days ago)
My advice, if you have a IQ less than 135-160... don’t play poker or chess :)
xxDPKINGxx (7 days ago)
Yeah man it doesn't take a high IQ to memorize chess openings and strategy and GTO lines for poker. Lmao
Womb Raider (9 days ago)
This is sponsored content. These "pro's" are all nobodies.
Steve Richard (9 days ago)
Any one seen the film Runner Runner ?😃
ProfitableLifestyles (14 days ago)
You could consider staking as a pyramid scheme.
alan 777 (24 days ago)
Everyone loses at the ends all gamblers are dreamers!!🤭🤦‍♂️All gamblers need action and they ain't billionaires!! Math can only last so long until your broke!
James OMalley (26 days ago)
I play with my own money so I keep all the money
Avastar_Bin (27 days ago)
1:24 Kevin Malone?
Nicholas L (27 days ago)
Poker is super stupid!
Eric Carrillo (1 month ago)
I had treeps.
Romanian Mike (1 month ago)
I live in las vegas and I am looking to get staked in tournaments!
Bhavesh Khubnani (1 month ago)
@2:30 imagine playing poker indoors with full reflective sunglasses 😂
Nikola Karaklic (1 month ago)
Nice way for the casinos to wash the illegally earned money of their owners, and bring in more customers and steal some money from those stupid to enter without being involved with the organization. Horses they call them...
Leo Walters (1 month ago)
2:44 $565 are a few dollars???
Tuxster3 (1 month ago)
These guys are all gambling degenerates! This isn't REAL poker!
Jesse Lopez (1 month ago)
I don't know how to play poker. I didn't understand wtf they said. All I know is I'm poor
Andrew Åsvik (1 month ago)
16:10 Saul Goodman right?
Incorrigible Panda (1 month ago)
It's all a scam
Trent Reid (1 month ago)
If it’s doing so well why are they on here sharing the secret lol
judgebarney (1 month ago)
Jeff Gross is after your money! A fool and his money will soon be parted!
Brandon Spiegel - Future Millionaire (1 month ago)
Dante Fajardo (1 month ago)
So the player has to actually pay back if he loses. That’s not a good proposition.
SÍ SEÑOR (1 month ago)
CNBC is turning me to be a poker player 😂🤣
George Boyer (1 month ago)
Lutherangrants/org just helped me and my family out with a grant .I received $56,000 from them.
CattleRustler (1 month ago)
Did he say "proratted"? Pretty sure he meant prorated. 7:05
Anhai Keo (1 month ago)
bigapplebucky (1 month ago)
I think being a casino owner or a dealer would be the most sure fire.
JOE FAQURSELF (1 month ago)
congratulations, you just won the 2020 world series of poker for 20 million dollars, that's $20,000,000 … how much of that do you get to keep? uummm, $84.36
Jeffrey Tackett (1 month ago)
So NBC is invested in Stake Kings?
Junito Punto Comm (1 month ago)
10:31 Girl: I lost again...i owe you $50k Backer: You better start giving me some ass as a collateral !! Lol
Junito Punto Comm (1 month ago)
I learned how to play poker because the Moneymaker Effect !! 🤑
Jano Dursunian (1 month ago)
3 to 4 percent of the entire poker field makes the serious money their talking about , you do the math on your chances.. !!!!!!?????
Randy (1 month ago)
I'll get into this after I make a million in blackjack, day trading and house flipping.
persistently driven (1 month ago)
Day Lee (1 month ago)
How is she a poker pro when she is a losing player with 50k mark up?
irateyourvideo2 (1 month ago)
does this company function as some sort of escrow and take a percentage of each stake?
Arron Bates (1 month ago)
...aaaaand they use a fake user interface to show the deposit/withdraw process.
Arron Bates (1 month ago)
"that I'm just helping these guys be the best humans they can be, but the side effect is that they have success at poker"... exactly how much BS did CNBC sell out for?
Arron Bates (1 month ago)
how much did these fuq'ers pay CNBC?...
Aria Beyea (1 month ago)
It work i contacted cryptonhacker,com and i successfully cash out $40,000 into my Paypal account. They are so legit
uselessjoe (1 month ago)
Kessler in make up for millions....
Brock Page Productions (1 month ago)
dave himlin (2 months ago)
Poker games like hi stakes NL hold em are generally the most risky poker games a person can play. A player can make all the right plays in 1 session and be the big winner, and then play 1 hand and get handed a bad beat , and lose all/most of their stack on that 1 hand. Such risk/variance is very difficult to overcome. Any poker game that will involve you risking most/all of your stack on just 2 cards in a preflop situation, is a crap shoot poker game.
Tom Minter (1 month ago)
dave himlin - Okay Dave, sounds like you know your stuff. Best wishes.
dave himlin (1 month ago)
On the subject of a crapshoot game like hi stakes NL hold em, it often seems as though the biggest pots will be won when a player does " the wrong thing, at the right time". It also needs to be mentioned, that in nl hold em, players are regularly forced to make a decision to risk most/all of their table money on preflop all ins. Shoving your whole chip stack in the center on just 2 whole cards preflop { only 14% of your entire hand} is less about playing poker and more about gambling/coin flips/luck , because such a play totally eliminates the skills of checking/folding/raising/betting on the flop/turn/river.
dave himlin (1 month ago)
@Tom Minter I agree with MOST of what you say. I harshly disagree, that good players, will always win over the long term { months / years} especially in a crapshoot game like hi stakes NL hold em. I have know good poker players who went on bad luck/downswings that lasted for years . In the end, there are numerous examples of good poker players, who are not consistent winners in the game. DO NOT believe the poker lie of " EVERYONE IN POKER HAS THE EXACT SAME AMOUNT OF GOOD LUCK AND BAD LUCK OVER THE COURSE OF YEARS" . That is a complete lie . Yes, being a good poker player with solid skills is always gonna give the player a edge, but LUCK can always equalize and neutralize good poker skills, to the point that there is never a guarantee that a good poker player is gonna be a winning poker player over the short/mid/long term.
Tom Minter (1 month ago)
For a successful professional poker player bankroll management is just as important - actually, it's more important - than skills at the table. There are plenty of great players who have gone bankrupt due to poor or no bankroll management, and plenty of less skilled players who have succeeded due to maintaining good bankroll discipline. Losing one buy-in is not the same as losing one's entire bankroll; every player will lose buy-ins - that's part of the game. However, as long as you genuinely have the skills and you've managed your bankroll correctly, you will turn a profit before your bankroll runs out. If you don't have the skills you thought (or hoped) you did, good bankroll management will dictate when to move down in stakes and then likewise when to move back up once you're turning the appropriate levels of profit. Advice ranges depending on a few variables but a typical rule-of-thumb for cash games is that a starting bankroll should be a minimum of twenty buy-ins, and for tournaments it's one hundred. That's a significant margin to allow for variance; losing "all/most of their stack on that 1 hand" is unfortunate for that session but is ultimately insignificant in the long-run for a well-disciplined professional player.
dave himlin (2 months ago)
In live poker games, about 30% of the players will win money in the game over the long haul . Internet poker, those odds drop off massively and only about 10-15% are able to beat the game . This drastic drop in winners is due to many reasons with online poker. Collusion, bots, rigged software , etc.
Thomas Preston (2 months ago)
why are we not talking about Jamie Gold 2006 WSP Main Event Winner.
Genius by Design (2 months ago)
Y would a winner give up 50% ?
Genius by Design (2 months ago)
@Jeffrey Youngblood really U that stupid ?
Jeffrey Youngblood (2 months ago)
Because they couldn't afford to put in the entry fees. Duh.
Genius by Design (2 months ago)
it is rigged to manipulate idiots to go to the casino thinking they can win. My opinion.
Genius by Design (2 months ago)
it is a scam !!! The games are rigged. My opinion.
Jeffrey Youngblood (2 months ago)
eddiequest4 (1 month ago)
Someone PLEASE buy LaPlante a decent outfit.
Cub Fann (2 months ago)
Greg Harris (2 months ago)
and by "variance" they mean "luck".
DanielSong39 (2 months ago)
- 1-2, 2-5 grinders - Smaller number of 5-10+ players - Small number of online grinders - Very small number of high stakes cash game players - Very small number of extremely successful tournament players - Marketable names who have sponsorship contracts and appear on livestreams a lot (and also happen to be extremely successful tournament players in the past) - Marketable names who have successful poker training courses and appears on livestreams a lot (and also happen to be cash game crushers) That's all I have for now.
prerit kumar (2 months ago)
When I first started playing poker online, I used to think, it was rigged. Negative 4,500 and 3 years later. I am now at $950 profit. 8 times 1st, 12 times 2nd, and around 22 times final table. I now understand how important it is to understand the game, the percentage, they players. It will cost you a good chunk of money to learn the game. But you will only be a winning players by making good decisions. For example, today in a tournament. I knew exactly what my opponent had and this had happened two times in the same tournament. Am I a pro? No way, has my game improved and will continue to improve? Hell yes.
RetardskillMe (2 months ago)
7:48 that moment when he rotate his ankle while trying to recollect past events, feels like he is lying..
jiggy drt (2 months ago)
$565 is a few dollars?
mike long (2 months ago)
Screw tournaments lol. Most poker players that make a living off of it play cash games and play 2/5 and 5/10. Everyone knows big tournaments are like the lottery basically no matter if your the best player in the world. Yet in cash games if you can get your money in at 85 or 90 percent favorite to win to double your money then that's what you do. You will lose ocasionally sure but when you win at least 3 out of 4 times and you can withstand the times you lose. Also managing your bankroll and life expenses properly are very key in being able to make a living
Wayne Urquhart (2 months ago)
Are you talking about privately run games compared to casino run games?
gk10002000 (2 months ago)
what's funny is currently this english guy Chidwick has 23 million in winnings. He is still playing which shows how little he actually gets. So that myth about playing poker for a living, play when you want, sleep when you want, is BS. Most are backed and few use their real or own money. This really makes the game different because are not as concerned about being stacked or losing their money at the table because it is NOT their money! Makes bluffing and semi bluffing really different, more so than most people realize. I stopped playing much poker because it just is not worth it. Way too many beats than ever ever used to happen. Players calling with too much junk and the variance and money swings are just nutty
Morty Snerd (2 months ago)
boring..... I bailed after a minute and a half
Matt Lombardo (2 months ago)
The pros who made money got into online poker and sponsorships. You see plenty of broke of pros begging for stakes at the tournaments
1990pommie (2 months ago)
ts luck 99% i won a 96 player tourny after 2 jugs of beer saying its floppsy from n ow on ALL IN time after time last hand k 9 vs 2 aces flop turned up extra 2 ks lol after hs friends were cheering him on the turn lol
Javier Ponce (2 months ago)
NPR beat CNBC to this like over a year ago.
g p (2 months ago)
The house makes the money period!!
Cletus Sawyer (2 months ago)
Should have had Phil Swift do this infomercial. Get more suckers that way.
Rasmus Lauridsen (2 months ago)
This video is nothing but a commercial...
CryMoarSwallowHarder (2 months ago)
The poker economy is a funny thing. Someone has to lose. Funny the video never mentions this. The staking sites are taking 10%, the casinos / poker rooms are taking their cut ,and 85%+ of the field of any tournament is LOSING and not even cashing. Money is getting spread around and the big payday is reserved for a lucky few.
Dolphin Man (2 months ago)
Obviously. The less edge you have the higher the varience.
Anywhere Bc (2 months ago)
Funny the gamblers came up with a way of gambling with gamblers to gamble...🥴
Dolphin Man (2 months ago)
Casinos also gamble, but they always win in the end, right? That's why it's great to gamble with an edge.
Lord Archon (2 months ago)
buncha poker zombies like the slot zombies at casinos, these pros look like GHOULS
Yugioh Pokemon (2 months ago)
Lord Archon they have more money than you though
Michael Wolfe (2 months ago)
Thank God for tournaments
HazelSparks (2 months ago)
Another poker boom coming ?
Dolphin Man (2 months ago)
Could be. Live poker is going places.
Michael Petty (2 months ago)
Early at 3:13 in this video. He says a normal middle class lifestyle is at about 4K a month. Wow 😲 I thought I was middle class but I guess I’m actually on skid row 😂
Thomas Li (2 months ago)
u better work harder
joeashbubemma (2 months ago)
CNBC, as with all MSM, corporate advertising, with some "news" thrown in.
Rob L. (2 months ago)
This whole video was just a long infomercial. Fail.
UnBluffable2018 (2 months ago)
The staking companies, zero investment and they get a %. Best way no risk all rewards
Lord Archon (2 months ago)
hahahah yes stake a brain dead degen poker zombie, great investment LMAO
Grady Whitman (2 months ago)
A good way to realize the amount of luck required to win a big poker tournament like the WSOP is to understand that your chances of winning are still a fraction of a percent *even if you could see everyone else's hand.*
Dan McDonald (2 months ago)
@Dolphin Man well, it's a good thing that isn't how hold'em is played. There are 4 rounds of betting.
Dolphin Man (2 months ago)
@Dan McDonald He means that even if you keep going all in with the best hand you're still gonna lose a decent chunk of the times.
Dan McDonald (2 months ago)
baloney. If you know everyone's hole cards, you literally have to lose on purpose to keep people from catching you at cheating.
ARCHIT KOTHARI (2 months ago)
They also look seriously depressed
M J (2 months ago)
Fake news comes in various forms. Here we have an example of a story that's really just a paid spot.
M J (2 months ago)
@David Kruse huh? you can be a liberal and believe in the fake news theory.
David Kruse (2 months ago)
maybe you can get a job building your wall
H G (2 months ago)
c s (2 months ago)
Poker is one of the addictive scam games regardless whatever glamour they tell you. Only the casino benefit in the long run.
Dolphin Man (2 months ago)
Stephen Watts (2 months ago)
When you're staking someone, you can't be all loosey-goosey, eating a sandwich
Kenneth So (2 months ago)
This is a youstake paid commercial
Don Carbon (2 months ago)
and then, they realized that the cards do not care
Pedro Strom (2 months ago)
so what is the youstake business industry ? crowdfunding ? come on !
NoneOfYourBusiness (2 months ago)
Boring. Too slow. Get to the point.
Liza & Albbie (2 months ago)
This is clearly an add for that site. Should open with that or at least disclose it.
David Shaw (2 months ago)
If he's streaming his backers they could just join his game and clean him out.
Aidan O'Connell (2 months ago)
This needs to be built with blockchain.. so many ideas like this will be possible with blockchain - commoditize everythinggggg
not a news story at all but a long commercial for these internet poker sites, complete with mood music. really shameful that CNBC calls itself a news network then comes out with this infomercial.
Bulldog Sleeping (2 months ago)
poker became mainstream because one of the major sports was on strike, and they needed to fill tv time.
moestavernprankcall (6 days ago)
Bulldog Sleeping 👏🏻👏🏻👏🏻
DaddyDelve (2 months ago)
But who will stake Ryan Lapante some Hair ?
Tone (2 months ago)
Still getting more ass than the avg dude bet that
Frank Acosta (2 months ago)
Dude these players are all lying, major tells. They're all in massive debt.
YoeyYutch (2 months ago)
Not interested.
Jack Reacher (2 months ago)
If you can’t afford to gamble you shouldn’t play poker.
Doug Lee (2 months ago)
Jack Reacher Just play with other people's money, just like wallstreet, then you will be smart and free rolling.
Kevin Schmidt (2 months ago)
The casino, you're welcome
Brian Cox (2 months ago)
I do.
h0lmie (2 months ago)
Me, a random Dane watching this, at 14:19: :o
David duFresne (2 months ago)
No limit holdem needs to die. It's been solved for the most part so it's really which pro gets the right cards at the right time. You could play the World Series of Poker every year for the rest of your life and odds are against you even reaching the final 10 no matter how skilled you are. You not only need your had to hold up, but it needs to do so late in the tournament. Games like omaha, omaha hi-lo, seven card, seven card stud hi-lo, 2-7 triple draw etc are much better games.
Lord Archon (2 months ago)
HOW SKILLED U R LMAO what a dumb delusion, poker is the worst form of gambling by far, only ppl with extremely low iq try to make a living off poker, if u spin the slots once its luck if u spin it 1 million times it somehow turn into SKILL LOL
Syre Kongen (2 months ago)
Adam Crooks (2 months ago)
"Poker has some of the highest risk, worse than the stock market."........ "staking investing runs some of the highest edges in investment." Yeah ok.
MrZoeman1980 (2 months ago)
Moneymaker effect was not it in my opinion. Look no further than the relovution invention of the pocket cam. The year moneymaker won WAS the first year of the pocket cam at the WSOP.