Should I tell the parents?

[cardsharkk04]

Over the last year i'm up around 100k. Last year when my parents found out I played poker online they flipped out. Eventually I told them I moved up from $50 games to $200 cash games and they flipped out again, saying that I was moving up to stakes I couldn't handle and I would keep moving up stakes and I would lose all my money because I was an addicted gambler. Anyway I kept moving up stakes, but just never told them about it. Should I tell them? plus tax time is coming and i think they could find out anyway. I really have no clue as to their possibe reaction.

[schwerd2]

nice job. I would tell them, why not? What limit are you playing now? and how many tables at once??

[Brudder Andrusha]

Actually, I disagree.

Don't tell you parents anything at the moment that will upset them and put you on emotional tilt.

You won. You risked. You have pride and respect in your mind.

Put some of the well earned money in some investment and return to it when needed. Life has a tendency to do that to everyone sometime.

As far as your parents: Tell them things they want to hear -

Until you get to 40 or you have 3 kids and a nagging wife or which ever comes first - then you can mention your poker skills.

[KaneKungFu123]

if i were you, id not pay taxes, keep all my money online, and see if i am positive after 2006 (ive seen you play).

[neverforgetlol]

another zinger

can i have your autograph

[JustToast]

[ QUOTE ]
if i were you, id not pay taxes, keep all my money online, and see if i am positive after 2006 (ive seen you play).

[/ QUOTE ]

HAH! nh.

Nah, why tell em? You know they'll crap the bed when you tell them you've got a mortgage payment in play at any given time so theres no emotional +EV here.

They'll wonder how you can afford your new porsche, but just tell them your stocks had a good year. As we all know the stock market isn't gambling.

[rwanger]

I'd lean towards telling them, in the hopes that they will realize that you're for real. You're being smart with your bankroll right? Maybe even lie about it on the low side (tell them you made $50k).

Anyway, they are already suspicious about you, so I don't see how it's -EV to give them some true (or semi-true) figures. (Although, I'd go for the long term figures, rather than admitting that you've lost thousands on a single hand).

Nothing says "Mom, Dad: I'm legit" like making $100k last year, and then doing it again this year.

Then again, my parents aren't anti-poker so I could be waaay off.

[Songwind]

Based on your post, it seems like you're pretty open with your parents. I wouldn't compromise that now.

I would make a plan for a) paying your taxes and b) putting money aside for long-term investment/insurance. When you tell them, also tell them about your plan. Show them that you're making a good living in a high-risk profession (like being an entrepenuer or investor) and not just tossing your money at casinos.

[cardsharkk04]

Thanks Kane, I'm sure you've probably taken my money before at 10/20 and probably think I suck (which I did for a while over the summer) but somehow I made money, so go fck off.

Anyway I think I'll try to tell them after paying taxes and investing more. Thanks for the replies (except kkf).

[KaneKungFu123]

[ QUOTE ]
Thanks Kane, I'm sure you've probably taken my money before at 10/20 and probably think I suck (which I did for a while over the summer) but somehow I made money, so go fck off.

Anyway I think I'll try to tell them after paying taxes and investing more. Thanks for the replies (except kkf).

[/ QUOTE ]

Ive seen you go on serious tilt, which is not characteristic of good players. And I hate taxes more then anybody. If you are confident that you have it under control now, then pay your taxes. If you lose 20K during 2006, youll wish you have listened to me and waited to see how well you do long-term.

[cardsharkk04]

Do good players make over 100k in one semester of school? I guess not. And i was talking about not paying taxes on 5k of caddying money paid in cash, which is way different than paying taxes on poker winning. Also I'm not that concerned about my bankroll in college because I don't need any of it. I have nothing to pay for except food, booze, and random crap. If i lost 100k tommorrow I'd be right where I was 6 months ago, with more cool stuff. I still try to improve my game, but hell losing 20k doesn't bother me all that much.

[timmer]

Just pay off their mortgage they should get the message.

[Pokeraddict]

My parents are divorced and I started playing in my late 20's. I had a crap job and got hooked on the old ACR free $50 days. Eventually I became a prop. Long story short I have enjoyed a nice run and many months of 4 figures a week of prop pay. I told my mom and she was thrilled i was able to quit my job and go pro. I waited to tell my dad.....

He was not thrilled at all. He is a very conservative type. Now after all this time and launching a successful website and placing high in my only WSOP event he understands too.

I think you should tell them. If you are confident in your abilities then they will eventually catch on and understand and maybe even accept.

[Alex1212]

[ QUOTE ]
but hell losing 20k doesn't bother me all that much.

[/ QUOTE ]

Can I have 20k?

[Dan BRIGHT]

Dont tell them until you move out. At that point, mock them for making way more $/hr than them and for doubting you.

[Chillout]

By your mom a $1000 necklace and your dad a plasma TV, then tell them. See if they flip out.

[4_2_it]

Do you still receive support from your parents? Are they paying for your school or any of your living expenses/ If so, come clean with them. They probably still believe they are your primary source of income, which would explain their unease about your 'hobby'.

If you are supporting yourself, just buy them some nice gifts for the holidays. Don't try to explain anything, just let them know you are doing fine and appreciate their concern.

[phydaux]

Tell them "Mom, Dad, last year I made over $100k by filling condoms with heroin and smuggling them across the Mexican border incerted in my rectum."

After they tilt for a while say "I'm just scrwing with you. I made the money playing poker over the internet. By the way, I'm gay."

Things like that put everything in perspective.

[rwanger]

[ QUOTE ]
Tell them "Mom, Dad, last year I made over $100k by filling condoms with heroin and smuggling them across the Mexican border incerted in my rectum."

After they tilt for a while say "I'm just scrwing with you. I made the money playing poker over the internet. By the way, I'm gay."

Things like that put everything in perspective.

[/ QUOTE ]

Nice line. I'd expect villian(s) to fold. Hero drags nice pot.

[bkholdem]

When you tell them make sure to include that you are going to enter a game for everything you have (tell them the amount) in a few days. Then argue with them when they try to talk you out of it. Tell them how much you risk per game and argue how you will make much more playing much higher stakes, like all your roll on one table. Eventually back down some and ask them how much you should risk at a time.

Then tell them you were just kidding you practice sound money management. Throw about 5-10K on your Dad's lap and tell him "here, to make you feel better hold onto this for me incase I ever need it for a rainy day...but I'm not worried...I'm a good player practicing sound money management so that is really just to make you feel better" or some such stuff...

[Tyrannosaurus]

i haven't made nearly as much as you, but ive still had many poker convo's with my parents. i think a lot of people need to have expladed to them the difference between poker and gambling. back when i started, my parents didnt know the dif between slots and hold em, so they had to be taught that one was +EV in the long run and the other wasn't. as simple as it sounds, some people don't know the difference.