Few voices in professional poker carry as much weight as Daniel Negreanu, sometimes known as Kid Poker. His observations usually cut through the gloss and bring players face-to-face with the bare reality of the grind, given six WSOP bracelets and more than twenty years at the top of the game.
Negreanu revealed startling figures in a recent post generating buzz in the poker world that highlight the unworkable economics of the present high roller tournament circuit.
“You couldn’t even spend $250,000 traveling and playing the highest stakes in the world in 1999,” he starts. “That number is roughly $12 million in 2025.”
$12 million in buy-ins simply to play a whole high roller program including Triton stops, WSOP events, and other elite tournaments—yes, you read that correctly.
$12M Just to Break Even: Who Actually Profited in 2024?
Negreanu claims that in 2024 just three people in the globe cashed for more than $12 million:
- Adrian Mateos – $13,109,217
- Patrik Antonius – $12,488,048
- Alejandro Lococo – $12,287,737
These are the only players who technically turned a profit on paper.
Three more came close:
- Alex Foxen – $11,593,726
- Jonathan Tamayo – $10,298,455 (boosted by a WSOP Main Event score)
- Daniel Dvoress – $10,298,200
Altogether, just 6 players made more than $10 million, and just 40 crossed the $5 million threshold. Meanwhile, 259 players cashed for more than $1 million; nevertheless, as Negreanu notes, many of them are still unprofitable when including travel, lodging, and buy-ins.
Markup, Swaps, and the Real Math Behind “Winning”
The catch is that many regular big rollers are not paying the whole cost.
Creating a buffer against volatility, they sell action, trade pieces, or raise share prices. A player who “loses” $3-5 million on paper could nevertheless personally gain if they sold a substantial enough portion at markup.
Still, the strain is great even with that. At these stakes, variance is severe; Negreanu points out that many of these tournaments are effectively turbo structures with short stacks and coin-flip situations usually determined by ICM and laddering.
The Sustainable Path: Low to Mid-Stakes Poker
Negreanu offers a refreshing dose of wisdom:
Negreanu provides a welcome dose of insight: “Your best bet is to concentrate on low- to mid-stakes buy-in tourneys if you wish to make a good living as a tournament player.”
- Low stakes: $1,500 and below
- Mid stakes: $2K to $10K
Here is where the return on investment is genuine, the variation tolerable, and the competition winnable—particularly for dedicated, well-studied players.
Takeaway for Indian Poker Players
Negreanu’s speech is a wake-up call for those grinding poker in India or hoping to go and compete on worldwide stages. Often an illusion, the dream of the beautiful high roller lifestyle is profitable only for a small number of people and only under almost perfect circumstances. India’s poker sector is still expanding, and low- and mid-stakes offers remain the most realistic path for steady profit. Websites such as Natural8 India, PokerBaazi, and Adda52 provide a rich environment for would-be professionals to sharpen their skills without endangering everything.
Final Word: Wisdom from the Top
Daniel Negreanu’s post is a service, not a grievance. It is a profound revelation. It provides a glimpse into a facet of poker that most individuals rarely openly explore. Focus on the grind, not the glitz, if you really want to win at tournament poker. Develop your advantage where it matters. Work hard. Bankroll intelligently. And perhaps—just maybe— the game will give you not fantasies but freedom.
