Six Ways Poker Players Can Make Passive Income
Passive income is the dream. There are worse ways to live than sitting around doing a whole load of nothing while the number in your bank account grows and grows.
For many poker players, supplementing poker winnings with some sort of passive income can be incredibly effective. Passive income will buy you time, and that time can be used to improve your overall game and make yourself more money in the long run. But, of course, it is never as simple as that, and pinning down a way to make passive income can be tricky.
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It wouldn’t be a list of passive income opportunities without including cryptocurrencies. Few financial topics have caused as much debate as cryptocurrency over the last decade.
Its champions hail it as the future and claim whoever isn’t on board is insane. In contrast, its detractors claim it’s a massive scam and that anyone involved will soon go bankrupt. More pragmatic views, unsurprisingly, tend to fall somewhere in the middle.
There are plenty of legitimate pros and cons to investing in cryptocurrencies, and anyone who pretends there isn’t a risk factor involved is a liar. However, the big hitters, like Bitcoin and Ethereum, are seen by many as solid investments with a proven record, despite recent turbulence and the occasional crash. In the long term, BTCH and ETH have proven incredibly profitable for investors.
On the other hand, plenty of cryptos have crashed and burned, been rug pulled, or turned out to be complete scams, leaving investors with eggs on their faces and nothing in their pockets. As a general rule, if you’re going to invest in crypto, try and stick to the more established coins and don’t waste your time on ones with ridiculous names. There’s plenty of hype around cryptos to fall prey to, so be cautious about how you’re investing your cash.
Poker Tutorials & Guides
The best poker players are always looking to improve their skill set, and one of the most popular ways to do this is through online tutorials. The online education market is growing daily, with sites like Udemy and Coursera becoming increasingly popular. This presents an excellent opportunity for those who are talented poker players. Investing a little bit of time and money into creating a selection of poker tutorials that you can then sell is a great way to make passive income. A little bit of market research should give you an idea of what your course is worth, and with a little bit of clever marketing, you could be making a nice stream of cash from these videos.
Of course, if you’re not so confident in front of a camera, there are other options. Podcasts, for example, are an increasingly popular way for people to learn and engage. However, this will probably involve more maintenance unless you want to create a big series all in one go.
An alternative option here is the publish E-books. E-books are having a bit of a second coming, with self-publishing allowing experts to share their wealth with people, often for a much lower price. While this isn’t particularly lucrative, it can be a nice way to drip in some extra cash here and there.
NFT – if you’re looking for three letters that will get a reaction out of someone quickly, then these are what you’re looking for. NFTs, or non-fungible tokens, have been a divisive topic since they hit the mainstream in 2021.
There is still a lot of debate around NFTs and whether or not they are just a trend that will not fade away quickly. We’re not here to weigh in on that debate. Instead, we’re here to look at how they can generate passive income.
Several options exist for those who have purchased NFTs. These include earning royalties, renting them out to NFT gamers, staking them, and more. The value of these can be very volatile, so we recommend making sure you are committed to and believe in the NFT movement before you consider your options. Understanding blockchain technology and how NFTs and cryptos work can take time. Don’t jump the gun and purchase an ape with a funny hat just because you like apes with funny hats.
Like crypto and NFTs, the Metaverse is proving popular. Famous ‘verses like Decentralland and Sandbox have seen massive investments in recent years, and they are also beginning to present some great opportunities for passive income.
Owning digital real estate on these platforms allows people to rent it out for business, advertising, and other purposes. Of course, a lot of the money that comes in from these investments is in the form of cryptocurrencies and NFTs. Still, as we have explored elsewhere, there are plenty of benefits to these.
Metaverses, quite literally, are whole new worlds for people to explore. If you have the time and the patience to work out how these things work, the opportunities for passive income could be really high.
The Stock Market
The granddaddy of passive income and investments. The stock market was a great go-to for passive income and returns on investments long before the days of online poker tutorials, Youtube and crypto-bros.
I’m not a financial expert–and to borrow a line from GMErica Apes goes, “this is not financial advice,”–but investing in the stock market is traditionally considered a safer bet than crypto. Then again, if recent news/trends are anything to go by… maybe not?!
To see quick returns or dividends, you will need plenty of capital. However, there is always the option of slowing building up your portfolio and, in turn, your returns. Of all of the options on the list, this is the one that will probably take the most significant investment in terms of your time, as research and patience are essential.
Be Clever With Your Money
We here at Tight Poker aren’t financial experts–we play poker!– and thus recommend that all players thoroughly research these methods before investing anything. One thing is clear, though: if you want to make consistent passive income, you need to be willing to invest your time and money, at least at first.
Securing a source of passive income can be a game-changer in allowing you to have the life you want. It will free up plenty of time for poker and also mean that you can have a steady stream to rely on if you have a bit of a bad run of cards.