Poker enthusiasts have become accustomed to witnessing seasoned players walk away with staggering sums, often in the millions, from tournaments with buy-ins in the five- and six-figure range. High rollers have carved out a significant niche in the poker community. poker tournament series worldwide.
It might surprise some players to think about how they can afford to stake such large amounts. What’s the experience like at these events? poker tournaments , and what kind of players participate?
Continue reading to explore the intriguing world of high rollers, including an insider’s perspective on this unique segment of the poker industry.
Negreanu on High Rollers
In recent years, buy-ins of $25,000, $50,000, $100,000, or even higher have become increasingly common. Poker star Daniel Negreanu, who is well-acquainted with these extreme stakes, triumphed at the $300,000 Super High Roller Bowl in Las Vegas in 2022, pocketing an impressive $3.3 million.
Previously, large player counts were necessary to generate such winnings, but with immense buy-ins, lucrative prize pools are now a reality. Notably, Negreanu's victory came from a relatively small group of just 24 competitors.
The seven-time WSOP bracelet holder secured yet another high roller victory in 2024, winning the $50,000 Poker Players Championship at the WSOP for $1.2 million. Recently, he remarked on Twitter about how common these tournaments have become and the substantial bankrolls required to compete.
“Back in 1999, if you traveled internationally to participate in the highest-stakes tournaments, spending over $250,000 was unheard of," he tweeted. “By 2013, that investment jumped to approximately $1.2 million. Fast forward to 2025, and that number is projected to hit around $12 million. To turn a profit while participating in all the Triton, WSOP, and similar high-stakes events, you will need to cash out over $12 million.”
“While not every player will attend every tournament, for those high roller regulars who do, an expenditure of around $10 million seems reasonable, especially since each Triton stop can cost about $2 million in buy-ins,” he also mentioned.
In 1999, traveling the globe to compete in high-stakes poker tournaments required a budget of only $250,000.
— Daniel Negreanu (@RealKidPoker) April 19, 2025
In 2013, this figure escalated to about $1.2 million.
In 2025, that number is roughly $12 million.
To secure a profit while playing in all these tournaments..., you’re looking at the necessity to cash in for at least $12 million.
Last year, merely three players earned $12 million or more. This elite group consists of some of the biggest names: best poker players of all time : Adrian Mateos ($13.1 million), Patrik Antonius ($12.5 million), and Alejandro Lococo ($12.3 million).
Only three individuals surpassed the $10 million mark: Alex Foxen, Daniel Dvoress, and Jonathan Tamayo, who claimed victory in the $10,000 Main Event at the WSOP.
Swapping & Backing
This information suggests that most high-stakes professionals are likely not putting a significant part of their bankrolls at risk. Instead, many rely on backers and exchanging percentages to engage at this level, which greatly benefits affluent players. poker cheat sheet !
“The vast majority of professionals involved in high roller schedules usually sell action or swap shares. Thus, if you notice a player cashing in for $7 million over the year but losing between $3-5 million, their actual financial loss is likely not as severe, if they even incurred a loss,” Negreanu pointed out.
In 2018, 888poker professional Dominik Nitsche echoed this sentiment, sharing his insights on participating in high-stakes events. types of poker games He noted that a circle of 'investors' often financially supports many players in the high roller scene.
“It’s widely known that a substantial financial network backs most high roller competitors,” he shared with PokerNews. “These are groups that take on all the action that players wish to sell, often backing the top performers in the field. There aren’t many alternatives available.
“A player typically pitches their needs to one individual, who may say, 'You’re good, I’ll cover you at a markup,' and then the action is sold, allowing the player to compete,” he elucidated.
Nitsche pointed out that most players in these high-stakes events possess only 30-40% of their own action, with those numbers occasionally dipping to 20% or rising up to 50%.
Many of these backers are former high-stakes players who have experienced success themselves, and financial arrangements generally finalize after tournaments. A backer stands to gain significantly if one of their players performs well and makes a substantial score.
Rising WINS Totals
In recent years, high-stakes professionals have witnessed their earnings soar due to results in high roller tournaments. For instance, the top five players on Hendon Mob’s all-time money list have each raked in over $60 million.
- Bryn Kenney leads this list with $75.8 million, which includes 12 instances of winnings exceeding $1 million. His total also reflects a remarkable win of $20.6 million after finishing second in the Triton Million for Charity in 2019, an event where 54 players each contributed a £1 million buy-in, creating a prize pool exceeding $65 million.
Kenney’s performance reveals that those scores of over $1 million constitute around $49 million, or approximately 53% of his total live tournament earnings. He has also achieved several notable wins in the $800,000 to $900,000 range.
Players ranking high on the money list display similar patterns, underscoring the vital importance of these substantial buy-in results in the competition for accumulating career earnings.
High-Roller Money Mirage
Despite these impressive figures, insights from players like Negreanu and Nitsche indicate that high-roller competitors are generally capturing a much smaller percentage of these substantial earnings.
Finding financial backers enables players to diminish their own risk exposure, which may distort the actual take-home 'profits'. poker variance For instance, if a player wins $1 million but has only 30% of their own stake, their actual payout would be $300,000, far less than the seven-figure amount initially reported.
“What people often imagine at these peak stakes is largely an illusion,” Negreanu remarked. “No one playing at these levels experiences a return on investment exceeding $5 million in one year. Exceptional profitable years may occur, but they are exceptional rather than standard.”
Recently, Seth Davies shared his thoughts with Card Player about his backing arrangements, discussing how he exchanges percentages with other players and participates in a staking group. He offered perspective on how his high roller involvement functions and emphasized the importance of retaining a substantial share of his action:
“I believe this approach is the correct strategy because, firstly, not having any personal stake can be detrimental for both parties. Secondly, it also significantly increases my potential gains. I feel very secure with this system. It’s unfortunate when you face swings, like in Monaco, where I lost about 10% of my net worth due to some bad beats.
“Naturally, it would be beneficial to have a pure makeup deal where I wouldn’t risk anything, but I wouldn’t prefer that either. Although I would always put forth my maximum effort, the alignment of incentives between myself and my backers wouldn’t be as strong. It ultimately helps to enhance my performance too.”
The past few months have been nothing short of incredible. Achieving a winning streak like this and claiming victories in two major super high roller events has been a memorable highlight in my career—something I could have only dreamed of when I started out grinding $10 SNGs for a living.
High Roller versus Mid and Low Stakes pic.twitter.com/6Qce7l1a29
— Seth Davies (@Sdavies22) October 28, 2024
Some players have remarked that while high rollers involve millions on the line, the essence of the game remains unchanged. High rollers approach the game professionally, dedicating plenty of time to studying, analyzing hands, and leveraging solvers.
These players still have significant sums at stake. Negreanu advises aspiring players on how to build a career in poker without putting themselves at undue financial risk.
“If you’re aiming for a sustainable income as a tournament player, your best option is to concentrate on lower to mid-stakes tournaments,” he advises.
“Professionals investing their own funds in mid and low stakes tournaments typically enjoy a much higher ROI and earn more overall compared to those competing in high-stakes turbo formats.”
Sean Chaffin is a dedicated freelance writer based in Ruidoso, New Mexico. His writing encompasses poker, gambling, the casino industry, and a variety of other subjects. You can follow him on Twitter at @PokerTraditions and reach out via email at seanchaffin@sbcglobal.net.