Poker players don't take home the stacks of cash you see on TV — here's who does

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It's common to think a poker player takes home all that cash upon winning, but deals are in place longer before a player sits at a table.

In the early 2000s, professional poker reached new heights in popularity. Between ESPN, the 1998 movie "Rounders," and Chris Moneymaker's out-of-nowhere win at the 2003 World Series of Poker, the lure of turning professional and earning millions brought many to Las Vegas. Poker, however, is a game where players can go long periods without a win or reaching a spot that earns cash. When a player does finally win, it can be thousands or even millions of dollars.

To offset this financial risk, players turn to staking. A person, or backer, will put up the money for a player to enter a tournament. If the player wins, the backer receives a portion of the winning. If the player loses, the backer loses. It's a method of playing that for years took place outside of casinos between players and people in the know. Recently, entrepreneurial poker players have developed websites that can bring the idea of poker staking to the masses.

Poker staking, isn't always easy or guaranteed to earn anyone money. There's still heavy risk involved both financially and legally. When the World Series of Poker airs each year and a winner takes home stacks of cash, keep in mind not all of that money will be going to that player.

 

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