Daniel Negreanu recently offered a candid perspective on X, revealing what he described as a reality check regarding how much money high-volume, high-stakes poker tournament players truly earn.
A seven-time World Series of Poker (WSOP) bracelet winner, Negreanu stands out in the high roller scene for his transparency - publicly sharing both his profits and losses. This level of openness is rare, as most fans only see a player's cashes on The Hendon Mob, which don't reflect buy-ins or overall losses.
What Do High Stakes Tournament Players Actually Make?
Negreanu, who has competed at the highest levels since the 1990s and currently sits seventh on the all-time money list with $55.5 million in live tournament earnings, shared how drastically the cost of competing has escalated. In the late '90s, a full schedule of high-stakes tournaments could be played for around $250,000. That figure grew to about $1.2 million by 2013, and today, he says, it exceeds $12 million annually in buy-ins.
Though the GGPoker ambassador maintains a relatively active tournament schedule, he doesn't chase the full high roller circuit. He tends to stay in Las Vegas, focusing on WSOP and PokerGO Tour events, rather than traveling to Triton Poker stops or the European Poker Tour. Still, Negreanu remains a central figure in the high-stakes poker community.
"Most every pro who is playing this kind of high roller schedule is selling action and/or swapping, so if you see a pro who played them all cash for $7 million in a year, likely losing $3-5 million, they didn't actually lose that much if anything at all. If they only sell at markup, they can lose $3-5 million, but still show a profit personally," Negreanu wrote.
He went on to critique the structure of many high roller events, noting they often favor turbo blind formats to accommodate recreational players who prefer shorter tournaments. This structure increases variance and reduces the skill edge of professionals. Players like Alex Foxen or Stephen Chidwick would, theoretically, see a better return on investment in longer-structured events against less experienced fields.
"If you want to make a good living as a tournament player, your best bet is to focus on low to mid stakes buy in tourneys," he advised.
Negreanu emphasized that the glamorous image of high-stakes poker is largely illusory: "What poker fans envision about the highest stakes players is mostly a mirage." Despite winning the prestigious $50,000 Poker Players Championship last summer for $1,178,703 - ending an 11-year bracelet drought - he still posted his third consecutive losing WSOP, primarily due to bricking several six-figure buy-in events.
In total, he reported a $2.2 million loss across all tournaments in 2023. He's had a stronger start to 2025 with two high roller victories, although his results in the U.S. Poker Open were modest.
Reactions from the High Stakes Community
Negreanu's remarks sparked a wave of responses. Notably, Adrian Mateos, one of the top high-stakes pros globally, challenged his estimates. The Spanish poker phenom argued that very few players actually spend over $10 million on buy-ins annually. Having participated in most high roller stops in 2024, Mateos claimed his expenses were "way lower" than the $12 million figure Negreanu cited.
Mateos, who led The Hendon Mob earnings list last year with $13.1 million in cashes and holds four WSOP bracelets, responded with a touch of irony from fellow pro Sam Greenwood:
"I thought you won a lot in 2024, but after reading Daniel's post, I realize you were one of the 5 high roller regulars to win a small amount last year. Tough life," Greenwood joked.
Sean Winter joined the banter, saying if Negreanu's numbers were accurate, he must be down $23 million over the past two years, based on his own more modest cashes.
Matt Berkey chimed in with a broader critique: "Every time someone references a player's Hendon Mob to qualify/disqualify their ability in this space just kindly reference this thread & understand that MTTs are the mirage."
The True Cost of Playing High Roller Poker Tournaments
High roller tournaments are held across the globe, including WSOP and WSOP Paradise events, the EPT, Triton Poker, and various series hosted at venues like the Wynn and Aria in Las Vegas or the Seminole Hard Rock in Florida. These tournaments typically feature buy-ins ranging from $5,000 to $300,000, with occasional events reaching the $1 million mark.
And the expenses don't stop at entry fees. The constant travel to different cities and countries further inflates the cost of competing. Most professionals mitigate these expenses by selling portions of their action or swapping with other players. But as Negreanu highlighted, even the most impressive cash totals don't tell the full story of profitability.
Source: https://www.pokernews.com/news/2025/04/daniel-negreanu-talks-high-roller-poker-tournaments-48417.htm
