Recently I was asked what the best way to make $5,000 + a month playing tournament online poker, from New Jersey.
The strategy that I have outlined in this article revolves around playing approximately 30 – 40 hours a week, 5 days a week including Sunday.
This strategy also assumes a 50% R.O.I (Return On Investment). This simply means on average you will make 50% of your tournament buyins back as profit in time.
Because of the small fields, soft competition, and deep tournament structure of the New Jersey poker sites, you likely will see your return on your investment relatively quickly.
It is very possible to make $5,000 + a month on just the New Jersey sites alone, as well as playing less hours than 40 per week. However this strategy will give you the best opportunity to make AT LEAST that amount, if not much more. Feel free to omit any tournament that may be a bit too expensive at first, or that you’re unable to play for any other reason. Remember this is just a guideline.
A suggested bankroll to start this process is $2,000 – $3,000.
You can start with less than this, but you may have to re-deposit a few times if you don’t win a few tournaments right away.
Suggested deposit amounts for each site is $500 – $1,000 per site. If you’re including Bovada in your schedule, you may want to deposit more on their site than the rest. This is due to Bovada’s larger field sizes as well as their shallower tournament structure.
The payouts on Bovada will be larger when you win, but you will win with less frequency.
It is important to note that with this strategy you stand to win a lot more than $5,000 a month. It is in this author’s opinion that $5,000 a month is a very realistic expectation for profit with this strategy.
I hope this helps some of you that are thinking about taking a serious approach to making good money on the NJ Poker Sites.
Good luck, and see you on the felt!