Poker, Promotions, and EV as a Side Hustle

I'm a professional poker player who focuses primarily on online cash games, and I'd describe myself as a bit of a "full-time degen" (a tongue-in-cheek term poker players use to refer to themselves when they're deep into the gambling world). While poker is my main source of income, I realised early on that there were other ways to increase my earnings without necessarily playing more hands or taking bigger risks at the tables.

That’s when I started leveraging the various promotions, bonuses, and loyalty programs offered by online casinos, sportsbooks, and poker rooms. My side hustle involves identifying the best bonuses and maximising the value of these offers—things like deposit bonuses, cashback deals, and loyalty rewards—to supplement my poker winnings. It’s a way to squeeze extra value out of platforms I’m already using, and it adds a more stable, predictable income stream on top of my poker profits, which can sometimes fluctuate wildly.

The inspiration came from my love of gambling, but also from a realisation: I was leaving a lot of money on the table by not fully exploiting the offers that casinos and sportsbooks make available to players. At first, I thought of these promotions as small perks that didn’t really matter, but as I started paying closer attention, I saw how much these bonuses could add up.

For instance, loyalty programs often provide cashback, free entries into tournaments, or even comp points that can be converted into cash or used for other rewards. These extras may seem minor individually, but over time, they make a significant difference. I realised that I could significantly boost my overall earnings without increasing the risk in my poker play or moving up in stakes. It’s all about being strategic with promotions and knowing how to get the most out of them.

I define success in two main ways. First, in terms of the Expected Value (EV) I can extract from the bonuses, promotions, and loyalty programs I engage with. EV is a statistical concept that measures the average expected outcome of a particular strategy or decision over time. In this case, it’s about understanding how much value I’m getting from things like deposit bonuses, cashback offers, freeroll tournament entries, and comp points. If I can consistently generate positive EV from these offers, then I consider it a success.

The second measure of success is how much this side hustle adds to my overall income from poker. Poker is a game with high variance—there are times when you win big and times when you can lose a lot. By adding a side hustle that’s more consistent and less risky, I’m creating a more stable income stream to balance the ups and downs of poker.

If I were to start over, I’d focus on a few key things from the beginning. First, I’d be more disciplined about bankroll management. This is critical in both poker and when participating in promotions. It’s easy to get carried away with the excitement of bonus hunting, but having a solid bankroll strategy helps ensure that you’re not risking too much at once.

Second, I would invest more time in studying advanced poker strategies earlier on. Poker is a constantly evolving game, and there’s always something new to learn, whether it’s the latest exploitative techniques or mastering game theory. The better your poker skills, the more likely you are to consistently win and benefit from these promotions.

Lastly, I’d prepare myself mentally for the variance that comes with both poker and these bonus hunting strategies. There will be times when you lose in poker but make up for it in promotions, and other times when the promotions don’t pay off as expected, but your poker winnings make up for it. Mentally bracing for those swings early on would have made my journey smoother.

My biggest piece of advice is to approach this with a plan and patience. First, create a comprehensive list of all the online casinos, poker rooms, and sportsbooks available to you. Whether it’s in-person venues or online platforms, you want to be aware of all the possible opportunities in your area.

Next, always read the fine print. Promotions and bonuses often come with terms and conditions, and it's crucial to understand them fully before depositing any money. You want to avoid any nasty surprises—like hidden wagering requirements or time limits that make it difficult to actually benefit from the offers.

In addition, I recommend tracking your bonuses, winnings, and losses meticulously. Having a clear record of how much value you're extracting from each bonus allows you to assess whether a promotion is truly worthwhile. This also helps you understand your overall profitability and make smarter decisions in the future.

Finally, be prepared to do your homework. The more research you do on which promotions are best and how to maximise their value, the better your results will be. The same goes for improving your poker skills—your side hustle can only supplement your poker income if you’re consistently performing well in the game. Balancing both takes time and effort, but if done right, it can be a highly rewarding combination.