The biggest game I played was in the casinos in Goa. But it was just a handful of times as an amateur. Live poker is legal in casinos or poker rooms in select few places – Goa, Bangalore, Ahmedabad, Kolkata, Gangtok.
- It cares only about statistics and probability.
- The online version is seeing a barrage of new tools which help you improve as a poker player and tell you the Game Theory Optimal way of playing.
- I wrote about this in an earlier post (the one about my relocation to Goa).
- Sikkim has liberal laws contrasted with Maharashtra.
- I extend my sincere gratitude to the IT Department and all staff members for their unwavering commitment towards imparting top-notch technical and aptitude training.
- The knowledge and skills I acquired through the program empowered me to tackle challenges with a strategic mindset.
As a rule of thumb, on a conservative side, I’d recommend a bankroll of 100 buy-ins. I don’t always follow this rule, I wish I did, but do as I say, not as I do. Gradually, I leveled up to playing 5/10 exclusively (for a maximum buy-in of 1200) and started beating those games. Around the same time, a friend offered to stake me and I began taking shots at 10/20 (for Rs. 2000 buy-in). When I started, I thought I knew what the game was, I had my moves, and felt that my opponents are doing stupid things and getting lucky. Of course it wasn’t true, but in a state of mind clouded by the haze of bad results, it’s difficult to recognize it in real time.
This was also at a time when I was thinking of quitting my job and finding a new location-independent income stream. I wrote about this in an earlier post (the one about my relocation to Goa). And by the time I quit my job in December 2015, I was on my path to make poker my profession.
It is challenging – A simple fact of the game of poker is that you make money by playing against players who are worse than you. Unlike a few years ago, today there are a larger % of people who are good at the game. The sheer number of resources – both free and paid makes it dead simple to learn the game quickly and in a better way. On the other hand, tournaments are high-variance in nature. So, even if you are a very good player, you can expect to have long dry spells; or find yourself winning life-changing money in a single day. Analytical Mind – A lot of poker players have a background in strategy games like chess or video games.
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How is poker taxed in India?
According to the Income Tax Act, any game winnings are considered income and are subject to tax at 30% under Section 115BB. This includes the actual winnings and any bonuses, referral incentives, or other inducements offered by online gaming platforms.
Easwari Engineering College was instrumental in shaping my professional path by nurturing vital skills such as leadership, strategic planning, team management, and effective communication. MPokket will transfer any money you borrow directly into your verified bank account only. You are then free to use the money any way you like such as for drawing cash at ATM, making an online purchase or by swiping your debit card at a POS machine. Indian law plainly denies betting in an online stage. It is controlled by Information Technology Act of 2000. Area 3(2) (b) of the said Rules, restricts any practice which is identified with or which supports washing and betting.
Careers
You’ll be dealt winning hands, and losing hands. The aim then is to extract the most value from your winning hands and minimise losses from your losing hands. The coin flip follows the laws of probability and statistics but it 9winz india is not bound by the sample size. Just like we don’t expect the coin to show one Heads and the other Tails in 2 back to back flips, we shouldn’t expect it to show 50 each out of 100 times. Easwari Engineering College provided me with the tools to think big and aim high.
Indian government treats poker under its gambling laws and a tax of flat 30% is applicable on your winnings. SRM Easwari Engineering College has played a significant role in my formative years. The then HOD and faculty of IT department guided me to try and succeed in whatever career lies close to my heart. Thankful to Easwari for the wonderful experiences, learnings and friends it has given me. Since I got placed in TCS through campus placements, I could kick start my career soon and could realize what I actually want to be in my life. Thanks to Easwari done helping me become who I am today.
It is easy to be running good and perceive yourself as being a great player and take shots at higher stakes. The ability to play within your Bankroll (We’ll explore this concept later) and have the discipline to put in regular hours of studying is thus vital. This leads perfectly to our next section – the skills needed to become a professional poker player.