“The online poker industry has generated
an estimated $250 million dollars in 2003.”
If you don’t know what residual income is, you don’t know what you are missing! Residual income is simply profits received from something that was done in the past. Writers make residual income when their books are sold. Actors make residual income based on the sales of their movies. Inventors create a product, then make a percentage of the sale of each product indefinitely. There is nothing more financially appealing then seeing profits down the road for work you do now.
Keep several points in mind.
You are not responsible to pay the winners!
An average player can play between 40 and 70 hands per hour.
The rake at the table can vary based on number of players, the game and limits.
The rakes range from $1.00 to $3,00 per pot.
If you had just 20 of your players playing an average of one hour per day, you could be making income from over a thousand pots a day just from those players.
Multiply that by 30 days in a month or 365 days in a year and I think you will get the idea.
Here’s a scenario, which you can adjust to fit your personal goals. You advertise for a poker room, and generate 100 new members per month. Of these members, your average profit per member is $50. You average a 75% retention ratio for your new members. …Read More