Since this is mainly a poker forum I ask as a poker player making a living of it.

What are some ideas to generate passive incomes for active poker players?

I have looked at some things but the primal factor is time, if it requires a lot of time and energy then my poker productivity gets affected.

It is wise to look at ways to generate passive income while being an active poker player making a living of it, or it is just better to focus all the energies and time to be better player and be more productive on just poker?

I read this as how do I make easy money without effort.
If you find one, let me know!

W/e you do it will take time and effort.

So look for something that takes not to much time but will generate a relative good reward, for example trading with small amounts.
Give this 2h's a day.

or Build up some money and put them in ETF's with a decent % dividend.

HYIP

i go with crypto or precious metals.

The purpose of the thread is more a discussion about poker player lucrative activities outside the table.

As we all know, when you play poker you are changing your time for money, it is always a very active thing.

The idea of having passive income is generating money while you are grinding.

The thing is, any passive income needs some work too. Then it should be something that doesn't absorb many of your time so don't affect your poker productivity.

Would be nice for the thread to hear and share ideas of sucessfull secundary entrepreuners in secondary activities on active poker players and discuss then in terms of time invested / monetary reward

Thanks for your ideas btw

It's the same as for non-poker players, if you find a good one let me know!

The best one I have found is investing in stocks which can be extremely passive if you stick to index funds. Anything else requires some degree of actual work.

lol he said passive income not speculating on ponzis

I understand crypto has a chance of going to 0, cause it really isnt back by anything just like the fiat system...the blockchain technology though is amazing. Lol at thinking precious medal is a ponzi tho.

Yeah invest in various equities/debt. Just depends on how big your roll is. Your ev on any reasonable investment is going to be somewhere around 3-7% annualized so decide if that's worth chopping up your bankroll

this may be the wrong thread for this but are you really that bearish on the crypto market overall?

I was ready to buy my first stock but when I saw the charges fees that brookers have WOW

Is there a way to avoid them?

I am a live player and have found some sweet spots through connections in my area. Juicy little staking deals, square sports spots, casino comp hustles etc. I get access to these spots because people know I am accountable. Building up a good rep is huge.

Aside from that I think investing in equities is a good idea, as mentioned in this thread. Some people around this forum seem to think that's a bad idea though. I dunno.

Probably not worth your time investing if you're trying to get around an $8 commission

Few options: robinhood has no fees for individual stocks. I recommend to just open up a vanguard account and buy vti and vxus with something like a 70/30 ratio. This buys every stock in the world pretty much. Only fee is the expense ratio, which is pretty much the best in the business.

edit: what country do you live in?

The best way to earn passive income is through investing hands down. Personally I have invested in S&P 500 and Dow Jones ETFs. I started when I was 22 and have made more from it than I have playing poker. You basically sit and make money. It isn't without risk and I am in it for the long term. I opened up a Roth IRA account and a brokerage account. Your money grows exponentially this way. Never underestimate the power of exponential growth! If only I had invested when I was a teenager. Man. My Roth is more of my safe investment. My more risky ones are things that I speculate.

My newest venture is into the crypto world, namely bitcoin in particular. I'm with jfound. Bitcoin is truly revolutionary and the blockchain technology will change the world. It is the future.

To supplement both my desire for poker and bitcoin I've joined Betcoin poker. Basically, you play poker, but instead of using the dollar you use bitcoin. In a way, you are investing with your investment. You play poker and actively gain more bitcoin, while at the same time your bitcoin increases in value while you are sleeping.

I'm so passionate about bitcoin that I've even built a website telling people all the different ways to earn bitcoin. It is my profile picture too. http://www.earnthosebitcoin.com


Some other ways to earn passive income are affiliate marketing which I have tried countless times and have not been very successful at. I even taught myself HTML, CSS, PHP, MySQL, and other things. Affiliate marketing is tough though so it will cut into your time. If you are successful though, then a lot of the things you've built will work for you.

The easiest way to make money sitting on your ass doing absolutely nothing is to invest in stocks and hold them for the long term. By long term I mean at least a year, perhaps several years. Preferably 10+ or 20+ years.

You must be rich by now, I am happy for you. I didn't hear.

If you're going passive I second TheGodson's recommendation of putting your money in S&P 500 index funds. Very stable way of growing your money and it's quite easy to set up. You'll average around a 10% return every year and you'll want to hold it for a long while. Really no effort involved, just put in your money and let it grow. Now, investments that will give you a higher return will require more effort. It all depends on what you want. But index funds are the way to go if you don't want to put any effort into it.

Claiming the S&P 500 will average 10% returns is very dangerous imo.

Including dividends, its averaged about that since 1960, higher since 1980 so I dont know what other number you would put it at.

Therefore dividend re-investment is necessary. What you are referring to is the equity risk premium and ex post returns don't necessarily predict ex ante returns. Just sayin.

Sample size issues imo, each to their own there though.

What about being a landlord?

Not as passive as most people think it is. Unless you have a management company but then it eats greatly into your cash flow.

This.

I have always recommended lower risk investments to poker players, traders, and other people whose active income is more unstable. All in on S&P 500 is probably fine under the assumption you’re under 45 but some people would be well served keeping a good chunk of change in CDs barely earning anything as backup emergency fund.

Can you do better in other ventures? Absolutely but they all have steep learning curves, more risk, and/or very high capital requirements.

There is no passive income without ownership of assets/lots of cash. Either you work for your money or your assets/cash works for you.