I need a little life advice right now.

[Ansky]

So, we are at quite the crossroads here. No one really knows what lies ahead entirely, and everybody desperately wants some answers. I am looking back at the last 3 years, basically since the day I started playing poker and cursing myself that basically I didn't take it serious until 1 year ago, and even since then I never really put in the hours. Well with the clock ticking on the fish pool that is online poker, I really want to try to get in some hours.

This has nothing to do with MTTs, since I basically am a cash game player now, but my whole 2+2 upbringing was in MTT, so I feel most comofortable posting this here.

I am a junior in McGill Unverisity in Montreal, and as a result I should still be able to play online poker even if the whole scene dries up. It will not however, be nearly as good as it was before, and I know that the days of being able to 8 table 5/10 w/ donkeys to my left and right could very well be ending. Over my last 50k hands I'm averaging 800 dollars an hour. It's not sustainable if I play 5/10, but I can definitely pull in 500 an hour at the very least if I 8 table. There is a good chance I will never again in my life have the oppurtunity to make that kind of money... let alone at the tender age of 19.

I feel as though right now, the absolute best thing I could do would be to drop out for this semester, and become a poker machine for the next few months... while I still can. I would stay in Montreal and my apartment-- so I wouldn't lose the social scene of college, but I just wouldn't have to worry about school or other commitments.

There is a decent amount of risk at this however. If I drop out today, and all of a sudden every site bans American players, I'm going to be [censored]. Not because I'm American (most sites have me as Canadian), but because I don't want to drop out with the intention of clearing 100k hands a month, when all of a sudden now the games are rock gardens and there are no longer 40 5/10 games across all sites.

So basically I can 1) keep going to school, and if poker fades away forget about it. or 2) Take a shot at making a [censored] of money, while still intending on returning to school next semester or next year.

I really want to do option 2, but I'm scared to death of a worst case scenario.. where I drop out, then poker dries up.

Help me MTTc, I need some advice.

[IWEARGOGGLES]

School, man.

I took this semester off and I feel stupid for doing it. Your degree is more important now than it was before all of this crap happened. Just learn to invest and enjoy school while it lasts.

[Ansky]

This has nothing to do with getting a degree... I have every intention of returning to school to graduate. I am not going pro permnanently, I am staying in my university apartment, with my university friends, I am just taking the oppurtunity to make 100's of thousands of dollars while I still can. How many people can average $500+/hr in their life let alone when they are in college? The amount of money I can make now is absurd, and I almost feel fiscially irresponsible not taking as much advantage of it as possible.

[registrar]

As well as "So long, and thanks for all the fish", our Douglas also said "Don't Panic", in large, friendly letters.

I'm English (well not a drop of English blood, but there we go) and I don't want to turn professional because I don't particularly relish the idea of sitting by a computer playing poker all day. For some reason, I'd rather do that all night, and reserve daytime computer abuse for selling educational courses.

However, I've got no doubt that I could make more money playing poker than I do in my real job, and I rarely play on any of the sites affected by this legislation. I wouldn't make $800 an hour, but I'd clear £4k a week over 40 hours. I have little doubt about that. And that's at my present level and rarely more than two-tabling and playing the games that take my fancy, rather than those which are most profitable, and spewing away cash quite often, and getting too drunk or stoned, or playing when on life tilt or whatever.

That's the first thing. The pool of rich american fish may dry up. There are other pools. Lots and lots and lots of other pools. Chinese pot limit stud players, for a start. Swedish MTT players.

The second thing is that 70 million American poker players aren't going to stop playing. They will be catered for. The goldrush may be over but poker will continue to be profitable for players who are better than I am. As I say, I don't play Stars much or Party at all. I've cleared $30k in profit over the last year. If you read my posts, you'll know I'm not great at poker and I don't play 24/7. Yet this is $30k tax free profit from about ten hours a week.

Thirdly, I play poker because it's profitable first and foremost. I'm an opportunist. Someone taught me a game. I beat the game. I continued playing because I realised that I would beat more games than I lost. I'm pretty good at chess and backgammon but I don't really play that much because the games don't really interest me and I can't see a way to make large profits from them. Poker would be the same, if it weren't for the money. However, this is the point. I'm a bright guy. I guess you are too. I am able to find and exploit profitable sitautions in life (such as the huge number of Chinese students who want a UK education) and make money from those.

As for leaving university, well, I have an Oxford degree and it's useful. I had a year out and found myself, at your age, having a great time on the SE Asian hippy trail. It was hard leaving that and coming back to real life. Doing so wasn't 'right' as such but there's no doubt that it's goven me options. Nevertheless, life is long and you are capable. If this is the end of the poker klondike (which it isn't) then you'll not starve.

So my advice would be: don't panic. In your shoes, I'd stay at school because school is a good thing. But don't bother if you're not committed.

[IWEARGOGGLES]

[ QUOTE ]
This has nothing to do with getting a degree... I have every intention of returning to school to graduate. I am not going pro permnanently, I am staying in my university apartment, with my university friends, I am just taking the oppurtunity to make 100's of thousands of dollars while I still can. How many people can average $500+/hr in their life let alone when they are in college? The amount of money I can make now is absurd, and I almost feel fiscially irresponsible not taking as much advantage of it as possible.

[/ QUOTE ]

The games may not be worth playing in a week. They may not be worth playing in 2. Who knows what they'll be like in a month from now.

Patience, young grasshopper.

[KneeCo]

"Well, it's no trick to make a lot of money... if all you want to do is make a lot of money."
(God I love that movie).

[ QUOTE ]
Not because I'm American (most sites have me as Canadian)

[/ QUOTE ]
This is the question I've been wondering about recently, I mean is the important thing to being able to play that the site not have you listed as American? That neteller not have you listed as American? That your bank account attached to your neteller not be American? Not entirely sure.

[ QUOTE ]
drop out for this semester, and become a poker machine for the next few months... while I still can. I would stay in Montreal and my apartment-- so I wouldn't lose the social scene of college

[/ QUOTE ]
You probably would actually, poker machines don't go to the movies, except for maybe Snakes on a Plane.

[ QUOTE ]
So basically I can 1) keep going to school, and if poker fades away forget about it. or 2) Take a shot at making a [censored] of money, while still intending on returning to school next semester or next year.

[/ QUOTE ]
Meh. Stay in school, keep playing poker, if life is good right now then be happy, that life isn't going anywhere for quite a while yet. If the bottom does fall out from online poker it wont be because of the legislation and it wont be until you're done with school and then some.

[Ansky]

Just so we are clear people,

I AM NOT LEAVING SCHOOL, I AM MERELY TAKING 1 OR 2 SEMESTERS OFF AT MOST. I AM DOING IT TO BECOME RICH.

Being financially stable when you graduate is a blessing... I am 19 and I'm a junior. There are plenty of 19 year olds who are freshman, so I think I am already ahead of the pack in that sense.

[registrar]

[ QUOTE ]
This has nothing to do with getting a degree... I have every intention of returning to school to graduate. I am not going pro permnanently, I am staying in my university apartment, with my university friends, I am just taking the oppurtunity to make 100's of thousands of dollars while I still can. How many people can average $500+/hr in their life let alone when they are in college? The amount of money I can make now is absurd, and I almost feel fiscially irresponsible not taking as much advantage of it as possible.

[/ QUOTE ]

Then it's easy. If there is downside to taking time out of school, take time out. Personally, I'd rather do other things when I'm young and free than play poker (or make money in any way) but if that's what floats your boat, do it.

[Ansky]

Actually, by doing this I will probably have more of a social life... just no school at all... and lots and lots of poker.

[registrar]

[ QUOTE ]
Actually, by doing this I will probably have more of a social life... just no school at all... and lots and lots of poker.

[/ QUOTE ]

Sounds good to me. FWIW, I deal with a lot of kids your age from the US, UK and ROW. And there is no doubt whatsoever that taking time out is a good thing. Finishing your education is also a good thing but it's better to complete the process when older and wiser.