Turning Pro: My Dilemma

[billzfan86]

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With that being said, I am considering not renewing my contract this year and starting to play poker as my main source of income. If I do this I will also be going back to college full-time in the spring to study Business Admin or Entrepreneurship, which will take me ~ 2 years to complete.

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to me this ends all discussion because your not looking to do it for thew rest of your life and in fact I wouldnt even consider this being a pro in all honesty however I also play with poker as my main source of income while in college (im a junior not living at home so i have all the bills ect). IT sounds like uve had this business degree idea for a while so ide do it and play poker for 2 years while you get your degree, just make sure you put in the hrs necessary becuase to me thats harder then withstanding the variance

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With all do repsect you don't have "ALL THE BILLS"

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just curious as to what bill i dont have, here is my list:

-rent (includes heat and hot water)
-phone
-cable/internet
-electcity
-car insurence (car is paid off already, thanks donks lol)
-food

i dont get what bill i dont pay? maybe ones that have to do with kids i guess

[TheProdigy]

Yea,

My plan is if I ever go pro it would be:

Atleast 1.5 years living expenses in bank
Atleast 75(pref. 100) buy-in bankroll for current level.

I just see no reason to ever consider going pro if you are going to be stressed constantly. If you have 100 buy-ins in the bankroll, and a crapload in the bank, you don't even have to take out a bunch to pay the bills. I would basically be taking out bonuses(3k per month + milestone bonuses if I was pro, so averaged out to prob 4k or so per month for the whole year), and maybe a tiny bit of winnings. This would keep you level headed, let you take shots really easily and be able to move around within your bankroll without ever being crazy stressed.

I just couldn't imagine wanting to ever be a pro poker player with 10k in the bank and 15k in my poker account or something like that, because I have had a losing month already(-3k) and couldn't imagine how stressed I would be if I had to pay bills with the money I was losing.

P.S. I have only played seriously for 8 months, and have played for like 2.5 years but as I was in H.S. I would only play like 3 days a month just to clear/cashout a bonus and go buy something. During the short 8 months I have already found that to make this a job I would want to double or triple my hourly rate at a real job so I wouldn't have to work 40 hours a week, plus I would want to be ovvverrrr rolled in bank and poker account for stress purposes.

Personally, I would only quit if you really hate your job or if you are pretty well set in the money area like I said above. Of course this is just up to you, because you may be fine playing month/month etc, then go for it!

[FF_Woodycooks]

1.) Do you play poker as your main source of income

Yes for two years

2.) If yes, what level do you play

100 and 200nl, mtts, some PLO, used to play sngs

3.) Do you have money set aside as a cushion in case something goes wrong?

Yea I never keep more than 50% of my piddling net worth in poker. I've invested a little, and keep a little cushion in the bank.

4.) Do you attend college full-time?

No, I am going back to school soon though to study international relations. Point of going pro for me was to pay my way thru school without a real job or money problems (im 27 and old, and returning to school on my own money).

5.) If yes, do you find that poker is conflicting with your study habits and grades?

I'm sure it might if you steam or tilt, or obsess about poker. I'd make sure school was number 1 in my mind, and the ultimate goal, and that poker was just the job I'm humping to get by.

6.) Is poker still fun for you?

When I'm running hot and confident, it is fun and I start having big dreams of success and payoff for the zillion hrs I've put into this damn game. Unfortunately for me poekr seems to be like this - 50% of time run break even/ semi-cold, 30% of time life is a freaking hell running HORRIBLE, 10% of time run ridiculously hot and make it all up and more. The hot runs are usually a blinding flash I have trouble really enjoying, and they are always followed by a sick downswing or break even stretch that kills the enthusiasm. I've been told I'm a pessimist tho :P

7.) If you were in my shoes, what would you do?

Keep the job, its a total no brainer. Poker for a living is miserable unless you're making a ton of money or are a lucksack. You will eventually burn out / run horrible / tire of poker and then you'll wish you had stuck with a real career. It's a possibility at any rate.

[Renton]

don't turn pro unless your hourly expectation is at least ~6-7 times what your hourly rate at your job is.

Poker is frustrating, you won't be able to do it for 40 hours a week without killing yourself. So make sure you can make a solid expectation in roughly 15-20 hours a week.

[D.L.M.]

Yeah you also have to consider how good you really are and for how long youve made money. 45k a year plus benits is a solid job. You will never play poker 40 hours a week until you are insane or are a rakeback whore like all these dumb 200nl half stack [censored] like pumuckle, jpickitt treys full etc. If all you do is make rakeback then dont be a pro.

[QTip]

Maybe you get something out of one of these.

http://archiveserver.twoplustwo.com/...te_id/1#import


http://forumserver.twoplustwo.com/showfl...rue#Post5090359

[cameronbarry]

1. One year and one half.
2. Anywhere from 1 2 to 10 20
3. I have a sufficient amount banked that is reserved for living/emergency expenses.
4. Not a day in my life.
5. na
6. In some ways yes.


7. You should do whatever makes you happy. If teaching makes you happy [censored] poker. If poker makes you happy [censored] teaching. The problem is that it's not always as clear cut as that, and sometimes our motivations aren't based solely on our own happiness.

Personally poker makes my homeostatis characterized by indescribable mental and phsyical uncomfort (including hot flashes, increased heart rate, severe anxiety) and it's demotivating.

I know what you mean about having a losing couple hands and needing to play until you are atleast even. Unfortunately this is still a problem for me. The flipside is I rarely have losing days. but then again my vision is worsening from staring at the computer too long uninterrupted. Buttt ii do have my own house car and life and all the money and blah blah blah. is that happiness hmmmm


go with makes you happy mike, that way it can't be the wrong choice

[Cry Me A River]

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Would you suggest having a larger "playing bankroll" on top of your money set aside for expenses. Specifically, would you suggest a 40 buy-in bankroll on top of your 6 months of expenses?


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I think 6-months plus roll is the bare minimum. If you can do more (like Prodigy above) then I think it's absolutely worthwhile.

As far as your roll as a pro, I think it really depends how comfortable you are at your current level and what your long term plans are. ie: if you're playing $100NL or $200NL and making a decent enough earn that you're okay staying at that level for a while then you don't need much more than a normal roll. But if you have ambitions of moving up then a deeper roll is a very good thing.

When you're playing for a living, it can be very difficult to grow your roll because you're withdrawing regularly. Unless you run really good, hit a big payday (MTT) or are really disciplined financially (you don't start spending all that poker money on going out, clothes, women, etc) your roll is not going to grow like it does when you're working a "real" job and playing poker part-time.

There's good money to be made at stakes like $100NL and $200NL but it's not enough to live REALLY well (unless you're still living in your parents basement) and grow your roll/savings like crazy too.

[Kos13]

You guys that play full-time...how much cash did you have saved up (bankroll + living expenses) when you quit your day job? If you're single and don't mind answering, how much money can/do you live on per month?

[kidpokeher]

If I may be so bold, I think the question you're really asking Kos13 is how much do you need before you can quit a job and play full-time. The answer is it's different for everyone. I'm a severe bankroll nit and ridiculously overrolled but I have to be because I don't want to be stressed in the slightest about money. I've got plenty of savings and a sick amount of credit so even if my bankroll was wiped out completely, I could live for years just off savings and credit. Contrast this with a good friend of mine who has played professionally long before even the online boom took off. He has no credit, lives check to check, and has even had to borrow money on occasion when an emergency comes up. It doesn't affect his game in the least. I don't have that kind of confidence.

Whatever amount of money is necessary to save up so that it doesn't affect your game is the right amount. If you start worrying about money after a bad session or during a bad run, then there is a problem.