Playing online for a 'living'

Tony Cheval · #1 02-17-05, 03:12 PM

Hello everyone, I've been looking for information about how feasible it would be to play poker as your primary source of income, so to speak. One difference in my case from the usual discussion I've seen is that my finanical needs are relatively modest, I would say $300-400/wk would be my minimum goal. Any advice in this matter would be most appreciated.

tazmision89 · #2 02-17-05, 03:55 PM

I play poker for a living. One thing I can tell you, it is very difficult to maintain earning a pre determined amount everyday, week or month. In order to play poker as your major source of income would be first having the bankroll to sustain any downfalls that may occur. Let's face it, without a proper bankroll you shouldn't even bother considering it. You can not do this for a living if your collecting unemployment, know what I mean.

Another thing you need to take in to account is your skill set. If you are a novice player, this is NOT for you. I have been playing for 20 years now and I still do not consider myself a top professional. I have bad days all the time. But I have built up my bankroll where I can sustain a crazy hit.

Im pretty sure others here will chime in and give some soundful advice. This is what I can share with you now.

I have to get ready to play a LIVE tournament in 2 1/2 hours. Good Luck!!

Talking Poker · #3 02-17-05, 03:56 PM

Before I give my opinion on this, let me ask you:
1. Are you winning player?
2. How much did you play in 2004 and how much did you earn? What stakes, how many BBs/hr, etc?

Personally, I think playing poker (online or off) for most people is a FANTASTIC second job. As a PRIMARY source of income though, I'm not so sure. Things change mighty quick when the rent/food/whatever money goes on the table.

2Tone · #4 02-17-05, 04:15 PM

While I know this is not feasible for me, I'd love to hear more about this. How long have you been supporting yourself with poker? Where do you play? What limits? How many hours a week?

tazmision89 · #5 02-17-05, 04:44 PM

I have been playing full time for about 3 years now (I owned a business and sold it). Here is a breakdown of where I play:

25% online (PartyPoker)
25% Live N/L Tournments (Tues & Thurs at a social club)
25% Foxwoods (10/20, 20/40 or 30/60 limit)
25% Taj or Borgata (10/20, 20/40 or 30/60 limit)

I play on average 7 hours a day. Some days I make out great and other days I suffer.

If I feel like I am having a bad outing, I cash out immediately. I do not even think about it twice. I have lost big by thinking I can break a funk.

Last year I made 75K playing and that was the best I have done so far. It takes a strong mind to be in to this day in and day out. Also, I am married, so it takes a understanding and supportive spouse.

badblood44 · #6 02-17-05, 08:18 PM

That's all well and good, but why don't you like oreo cookies??!?!?!

Kidding.

Congrats on the success. Has playing for a living taken any of the fun out of it?

omahilo · #7 02-17-05, 10:11 PM

Because he is the godfather, never question the godfather!

sjay2k · #8 02-18-05, 05:23 AM

I'm a college student. I have no real expenses so playing low-limit online is a great way to go out at nights for free. Over the past month I've been able to make US$1,300 from playing online. Mostly just $8 SNGs (I keep a blog and keep a spreadsheet to help me analyse my play).

Certainly beats a part time job (I quit my crappy market research interviewing job)

tazmision89 · #9 02-18-05, 07:28 AM

At least from what has happened to me is it all becomes mechanical. Don't get me wrong, I LOVE playing poker, but it does get annoying at times.

Talking Poker · #10 02-18-05, 11:28 AM

What do you play online? My guess is mostly 15/30 limit (full ring)?

Tony Cheval · #11 02-18-05, 02:30 PM

1. At this time, I would say that I'm about a break-even ring player, and a pretty good low-level tournament player. (Made about $800 in a couple weeks playing Pokertropolis $5 and $10 limit tourneys while on medical leave after a car accident).

2. That's a definate issue, I'll have to get better at record-keeping if I'm gonna bet serious about this. I mostly play .50/1 or 1/2 limit, or the above level tourneys. As far as last year, I would say I had a very small loss overall, I do believe I am improving somewhat (largely by starting to identify holes in my game).

BrianSwa · #12 02-18-05, 02:44 PM

I admire anyone that has the balls to do this for a living......
I personally could never do it for a living. Even if I became a great poker player I couldnt give up all the benifits I have at work and I cant see myself haveing to win at poker in order to eat. That is just too much stress to put on me. I totally respect you for this and wish you the best and if anyone else is doing this for a living or is going to I wish you luck.

Tony Cheval · #13 02-18-05, 02:56 PM

Well, I'm flattered, but what I'll probably end up doing is taking the 'coward's way out': find a job close to home at about 30hr/wk, then make up the difference where I can. The problem is that I'm still in a bit of a funk after the crash, hit my head pretty good. The doctor called it 'post-concussion syndrome', though I was never officially diagnosed with a concussion (on the other hand, the emergency room mysteriously forgot to CAT scan my head until I went back 3 days later

). So I'm really not in prime 'pound the pavement' condition at the moment, at the bare minimum I was hoping to be able to make enough to live on for a couple months or so while trying to get back in shape and all.

GeoffM · #14 02-18-05, 02:56 PM

The only way I make poker my "living" is when I no longer need money, and just win it as a hobby

tazmision89 · #15 02-18-05, 03:34 PM

Also alot of 2/4 NL games. Played last night and worked away with $735 heavier

This was a LIVE game and not online. I placed 4th in the tourney and did not come in the money...darnit. So I played the ring game and came on top

GeoffM · #16 02-18-05, 04:06 PM

Funny, I find myself a better tourney player than ring player. I just don't have the patience for ring games as generally I feel the players are a bit stronger than tourney players, even sitngos. I guess tv exposure has a lot to do with that, since they don't really show any money games on tv, and the weak players find tourneys "cool" to play in.

Talking Poker · #17 02-18-05, 05:00 PM

Sounds to me like you have quite a wya to go before turning pro. Start keeping records. As you get better, move up (slowly) in stakes. When you start beating the big games consistently, then and only then do I think it's worth even considering playing poker for a living. And remember what I said.... it's a lot different when the rent money is on the table.

ChipFish · #18 02-18-05, 06:50 PM

Way too early to turn pro Tony.
Just play recreationally and take whatever money you make and buy yourself something nice.

MathBabe · #19 02-19-05, 01:35 AM

I've been thinking about this recently too. Sometime this year my mortgage will be paid off, and if I was at home during the day and didn't have to pay for daycare that would be my two biggest expenses gone.

But, I really only started playing poker a week ago, and I've made a total of about $9 so far. :-) I need to wait and see if I actually enjoy it and could stand playing for a few hours every day, or whatever it ends up taking...

MathBabe

BrianSwa · #20 02-19-05, 01:57 AM

yes you need alot more play time to figure out if turning pro is for you. 1st time online I made $100 in no time at all thinking wow this is easy money. Couple days later I was busted, Im slowley making money now but it took alot of hard learned lessons to get disaplined and I think I still have a long way to go.

Tony Cheval · #21 02-19-05, 09:45 PM

Thanks for the responses everyone, I do think I need to work on my game a bit more really, it's good to hear more concrete advice on HOW someone can do it rather than a flood of 'you're not ready'.

junYUN · #22 02-22-05, 02:30 AM

everyone wants to be a pro, and thats exactly what the pros want to hear.