One of the most important metrics to track in tournament poker is ROI—Return on Investment. In poker, ROI tells you whether your efforts are actually paying off, or whether you are going broke. Are you grinding tournaments for fun, or are you steadily building a profitable bankroll?
Many players focus solely on big wins or final table appearances, but consistent profitability comes down to understanding your ROI and how to improve it over time. In this article, we’ll break down what ROI means in poker, how to calculate it, what a good ROI looks like, and strategies to boost it—featuring insights from poker legend Daniel Negreanu.
What is ROI in Poker?
ROI stands for “Return on Investment.” This term is widely used across many industries, including finance, film, and poker. In poker, ROI is most commonly referenced by tournament players, though it is occasionally used by cash game players as well.
If you’re not generating any profit from playing tournaments, then your ROI is negative, which affects your bankroll. You’re also probably losing money by ignoring this important metric.
How to Calculate ROI in Poker?
The calculation of ROI in poker is relatively easy and straightforward. You’ll need a calculator and a spreadsheet to properly track your return on investment.
First, calculate your net profit by subtracting the total amount spent on tournament buy-ins from your total winnings:
Net Profit = Total Winnings – Total Buy-ins
Then divide the net profit by the total buy-ins:
ROI (as a decimal) = Net Profit / Total Buy-ins
Finally, multiply the result by 100 to get ROI as a percentage:
ROI % = (Net Profit / Total Buy-ins) × 100
Example:
If you spend $1,000 on buy-ins and win $1,200, your ROI is:
(1,200 – 1,000) / 1,000 × 100 = 20%
If you are calculating ROI for a single tournament, use just that tournament’s buy-in and winnings. For multiple tournaments, use the sum of all buy-ins and the sum of all winnings.
If you’re aiming to pursue poker professionally, it’s recommended to use a spreadsheet to track your results across tournaments. This helps manage variance and provides a more accurate long-term view of your poker profitability.
What is a Good ROI in Poker?
A good ROI in poker typically means a return on investment above 10%, with anything up to 20% being considered solid, depending on the format and stakes you play. For new or casual poker players, any ROI above 0% is positive and indicates you’re making a profit.
For online multi-table tournament (MTT) players, an ROI of 20%–30% is considered excellent and places them among the top performers. A very high ROI is difficult to achieve and quite rare over the long term.
How to Improve ROI in Poker
Improving your ROI in poker primarily comes down to consistent, skillful play and making regular deep runs or cash finishes in tournaments. While outright wins are ideal, simply finishing in the money helps you maintain or grow your ROI over time.
Daniel Negreanu, a seven-time WSOP bracelet winner, has spoken openly about the challenges high-stakes players face with profitability. He once described High Roller events as a “mirage,” emphasizing that it’s nearly impossible to remain consistently profitable over a year-long stretch in a series like Triton. In other words, the ROI for high-stakes grinders is often lower than that of mid- or low-stakes players.
High-stakes players may spend over $10 million annually on buy-ins, not including costs like travel and accommodation. Even though some pros argue their expenses are more controlled, these fields are extremely tough, making it hard to generate a strong ROI.
Negreanu advises players who are focused on profitability to target mid- and low-stakes tournaments. These events usually offer:
- Softer competition
- Higher chances of finishing in the money
- Lower investment with decent payouts
Additionally, many profitable players increase their ROI by entering tournaments via low-cost satellites.
Example: If the direct buy-in for a tournament is $500 but you win a seat through a $50 satellite, your potential return increases significantly, boosting your ROI.
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