Poker as a part-time occupation during college

CashinCam · #1 09-22-2006, 02:46 PM

I'm a 20 (21 in October) junior majoring in finance at Oklahoma State University. I've been playing poker for 2 years and I've had a lot of success in the lower limits and small buy-in tournaments. I started play $3-$6 because my friend, who taught me to play, told me that was the best place to start. I consistently beat that game and started reading more and more poker literature. I moved up to $4-$8 and beat that game consistently. Feeling encouraged I decided to play a No-Limit Holdem tournament at Creek Nation casino and came in second. To this point I've played 5 $50 buy-ins consisting of 3 final tables, 4 cashes, a 2nd place, and a 1st. During that time I played 3 $115 buy-ins with 2 final tables, 2 cashes, and a win. (I'm getting to the question, don’t worry.) After winning back to back home games (NLH tournaments) my friend encouraged me to try No-Limit cash games. So I played the $1-$2 game at Creek Nation Casino in Tulsa. I won almost $500 the first night and though I feel I played well the next two times, I broke even or only made a few dollars. I felt I was making good reads and getting away from bad situations as well as calling people down correctly when I thought I had them beat. Is there a reason I play No-Limit more effectively in tournaments than in cash games? I'm hoping you can give me some pointers on where to go from here. I've made it through the last year and a half supplementing my income with my poker winnings. What is the best way to make poker a bigger source of income without having it over-take everything else. I know there are a lot of college age people who think they're going to become professional card players (I've beaten several of them out of there money) I don't expect that or necessarily want that life. I'm just interested in some pointers on moving forward with my game. Thanks a lot and sorry for the lengthy intro. Good Luck!

JussiUt · #2 09-22-2006, 03:27 PM

First of all, how many hands have you actually played (approximately)? "Consistently" means at poker at least 20k hands, preferable more. I'm afraid you haven't experienced the negative side of variance yet because as you said you've had excellent results in FIVE live tournaments. That's way too little.

It could be that you've actually played a lot of hands but something in this post hints that you haven't completely understood the cold reality of poker - the downswings will come and they can be long and painful. I'm not saying you can't actually be beating these games and you can very well get good side income from poker but I think you get my point.

CashinCam · #3 09-22-2006, 04:11 PM

I've played between 8 and 10 thousand hands live (according to my records) and 2-3 times that many online. I know I don't have a lot of experience, but I have run into rough patches where I was seemingly making the correct decisions and taking hard beats anyway. I think I have plenty of experience dealing with losses, but I fully under stand what you mean by consistency. I've read and studied enough about poker to know how winning early can cause an over abundance of confidence and that consistency is measured in much longer time periods. I appreciate the advice. Good luck at the tables.

KurtSF · #4 09-22-2006, 04:14 PM

[ QUOTE ]
Is there a reason I play No-Limit more effectively in tournaments than in cash games?

[/ QUOTE ]

Luck.

Just like the first responder I'm not saying you can't beat those games or levels. But at the same time you can't reasonably expect to cash in 75% of the MTTs you play in. 3 B&M sessions is notihng at all to try and predict sussess from.

Read up on bankroll managment. Untill you understand what the swings in poker are like, rigorously following suggested BR guidlines will keep you playing.

[ QUOTE ]
What is the best way to make poker a bigger source of income without having it over-take everything else.

[/ QUOTE ]

Um, play more, but don't let it take over everything....

Seriously, the answer seems self evident. If you are a winning player the more you play the more you will win. Just set limits or expectations for yourself based on how much time you want to spend playing, be it 5 hours a week, 10 hours, 20, or whatever.

Also, try to spend at least as much time studying and reviewing your play as you spend at the tables, preferably more. This will not only let you improve over time, but will also keep your game sharp for when you do play.

$0.02 and good luck.

CashinCam · #5 09-22-2006, 04:24 PM

Just to clarify most of my success in cash games has come in limit holdem ($3/$6 and $4/$8) and limit Omaha ($6/$12). 95% of my live cash game experience has been in limit. I've only recently decided to play no-limit. I've been able to steadily move up in limits, but I'm just no sure if no-limit cash games are my strong suit. That was the reason for the question about my success in No-Limit tournaments as compared to No-Limit cash games. For the record I know luck plays a huge factor in poker, but I did not start playing for money until I felt I had the knowledge to make a good effort. The tournament results are 7 tournaments stretched over an 18 month period. I don't know if I'd say the sole reason for my success was luck. Thanks for your input. Good day.

rakemeplz · #6 09-22-2006, 04:41 PM

"I won almost $500 the first night and though I feel I played well the next two times, I broke even or only made a few dollars. I felt I was making good reads and getting away from bad situations as well as calling people down correctly when I thought I had them beat. Is there a reason I play No-Limit more effectively in tournaments than in cash games?"

Errr variance?

You're basing this on a two day downswing in which you still won money...based on 3 sessions it would be hard to determine why you arent doing great although obviously still good in cash games just by looking at results especially if youre taking a few beats.

CashinCam · #7 09-22-2006, 05:06 PM

I understand that and perhaps that question is premature. More than anything I'm interested in comments on how to proceed regarding my overall game. Should I keep taking shots at no-limit or stick to limit where I've been able to move up steadily? But FOR THE RECORD I know 3 NL cash sessions is not enough to make an accurate judgment. Thanks a lot.

helloimcdog · #8 09-22-2006, 05:45 PM

just keep doing what youre doing, its working out now, but just be prepared for a downswing, not just an "i broke even in 2 sessions" downswing, but something just a tad more than that. Be sure not to play over your roll and stay steady.

VBCurtis · #9 09-22-2006, 09:10 PM

You say you've been moving up steadily in limit poker, but you also say you've only played 3-6 and 4-8; in another reply you claimed 8-10K hands of live poker all-time (250-300 hrs? All at 3-6 and 4-8, omaha excluded?). Those two games are nearly identical in most casinos, so you haven't yet moved up to speak of. What is the next higher limit at your local place? Can you afford to take a shot at it?

Perhaps you're referring to moving up online, where you mention playing ~20k hands. If you have accts online, play some micro-blind NL cash online, and see how you do. If the money doesn't roll in like it does at 50-1 limit online, decide whether you want to put large effort into NL, or just continue to grind out limit profits.

Acein8ter · #10 09-22-2006, 11:59 PM

It's not a steady income as you may know. It is enevitable that you will hit a downswing (variance) where you will lose money instead of winning. If you need a consistent income, you may want a part time job.
This is unless you have a fairly large roll that will take you through quite a few months. GL