DAC Posted June 6, 2005 Share Posted June 6, 2005 I've been playing Poker now for about 19 months, all on-line obviously. Over the last few months I've been really sucessfull and I know this is not the place to be immodest but I think I'm now a decent poker player. I even took the the last 9 days off work to play professionally and finished up $1060.00 + ( not a massive amount but more than my weekly wage) Now, my question is this......should I just carrying along playing as I play and enjoying the benefits (2 holidays paid for and a trip to watch the Lions play in Cardiff the other week) and basically enjoying myself or leave work and turn "Pro"? I know how ridculous this may sound but I have been enjoying regular success over the last few months. Please feel free to call me a crazy fool. PS, Starting a Poker Diary and maintaining it was one of the best things I've ever done. I strongly recommend it. Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... ....I may have just been extremely lucky over the last few months, who knows. Quote Link to comment Share on other sites More sharing options...
bluekinkladze Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... Whats your job and do you like it DAC ? If i had a big enough bankroll i would quit my job tomorrow to go pro, but i must admit i'm slightly worried about the isolation of sitting at home for hours on end, and how do you go about with getting a mortgage etc ? Sorry, to hijack your thread mate, but just thinking out loud............... Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... Hey Blue, I run a small team of staff for a French Phone Company, its not great but its not that bad. Not something I want to do for the rest of my life though. I haven't really thought about the pro's and cons about sitting in front of the PC all day long to be honest but I sure as heck wouldn't count it as work. I suppose though....you'd have to declare all of your winnings for tax purposes (yeah right) but plently of people give mortgages to self-employed people, which is what you would be. The only problem I can see about turning pro is the 60 fags a day I'd get through. Quote Link to comment Share on other sites More sharing options...
bluekinkladze Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... Not to mention the red wine................ Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... lol....I went through two bottles on Saturday night, woke up at 7am with a hangover....popped some pills....joined at MTT, came 7th with £55.00. You know what, maybe I'm just on a huge streak. Quote Link to comment Share on other sites More sharing options...
bluekinkladze Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... Long may it continue :ok Quote Link to comment Share on other sites More sharing options...
Dave Mardell Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... the thing is you maye find your success is comming purely from the fact your not trying to be succesful, you having fun and winning is a nice lil bonus. When you go pro you will have the pressure of not being able to pay the rent if you go on a long loosing run, which can and will happen even if you play perfectly ALL the time. This will put you on tilt which will lead to more losses. I say continue to enjoy it, and if you get a payday once in a while that pays for a holdiday then result! Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... Cheers for your very sensible post, Dave. I think I'm just going to carry on as normal but I'm going to start saving my bank roll and then who knows. I need more people to be as sensible as Dave, One thing I don't need is encouragement. Quote Link to comment Share on other sites More sharing options...
Markpl1 Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... While not my main income stream at the moment i am certainly considering being an online pro. I am actually arbritrage investor (there is a link somewhere in system and strategies) which is in affect in the gambling world. Would like to play poker tho and my winning are starting to become liveable on. My circumstance are slightly different i have no real commitiments as such no mortgage or wife. I also hated my last job which was as maths teacher so ended up relying on my expertise as an arber and poker now. Socially it is a bit of a grind. I do get out a bit tho but i suppose im lucky to live somewhere with a good circle of friends. Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... I find it very difficult to talk about my on-line poker with friends, no one realises that its an art-form.....I won $750.00 MLT a couple of Fridays ago and really wanted to talk about how I bitch-slapped the final player but alas.........guess I'll just have to come here. Quote Link to comment Share on other sites More sharing options...
Markpl1 Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... lol DAC i am slowly converting all my mates to the beautiful game;) Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... Mark, I've tried converting them and even sitting down to games and mentoring them. After trying to convince them for about the 300th time that a pair of Pocket Queens in amoungst A A K 8 8 whilst looking very pretty isn't going to win you anything and then having to listen to them complain "ooh, if I had of kept my 9 3 I would had two pairs now" after seeing the flop even tried my patience.......... Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... ....mind you, now I come to think of it, all my friends may actually be stupid. Quote Link to comment Share on other sites More sharing options...
Markpl1 Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... Lol i wasn't going to say that. Most of my mates are university educated and seem to have a reasonable feel for the basic concepts without me saying. So that helps Quote Link to comment Share on other sites More sharing options...
DAC Posted June 6, 2005 Author Share Posted June 6, 2005 Re: Advice please Gents.... ...quite...I even had to hand-draw a "Hand Value" whiteboard and hang it above the monitor for one of my friends....he had a terrible problem with flushes. Quote Link to comment Share on other sites More sharing options...
DeepBlueDevilFish Posted June 6, 2005 Share Posted June 6, 2005 Re: Advice please Gents.... I don't believe gambling winnings are taxable DAC otherwise you could offset losses against other taxable income and as more people lose than win that's not a road the IR would want to go down. Just make sure you never mention the word "professional" if the tax man comes knocking and you should be OK. Your idea of a "hand-value" whiteboard is a good one. :) Think I'll make myself one of those ... Quote Link to comment Share on other sites More sharing options...
DAC Posted June 7, 2005 Author Share Posted June 7, 2005 Re: Advice please Gents.... Very philisophical about coming 11th last night in an 390 person tourney, I had been playing well up to and including getting AK and thinking to myself "Don't get involved, don't get involvled - AGAIN" I got involved and lost to trip 8s Still, Was also playing pot limit on Sporting Odds against these Turkish fellows who completely tilted after I "slightly" took the piss out of them, great fun and very,very profitable. Quote Link to comment Share on other sites More sharing options...
Sir Puntalot Posted June 7, 2005 Share Posted June 7, 2005 Re: Advice please Gents.... DAC, This isn't quite the same, but when I was earning enough from my other websites (stress other websites not PL ;)), I found it still a very big decision to leave work. Why ? Well, I have a lot of friends at work and wasn't sure I wanted to lose that day to day banter, but in the end I was literally going to work with no sleep at all some days, so the decision was forced upon me, or I would have collapsed literally. I don't regret it one bit, I'm my own boss and I can go where I want and when I want. I don't have to get up at 8am to go to work (my biggest problem) and it's a nice feeling. I still meet up with work friends all the time, and find that its even better now because we don't see each other as often, so you got more to talk about etc...:) Just thought I would add that side of things into your equation. :ok Quote Link to comment Share on other sites More sharing options...
stekinguk Posted June 7, 2005 Share Posted June 7, 2005 Re: Advice please Gents.... It doesn't seem like you are ready to turn 'pro' yet DAC, just a few questions so i understand your situation a bit better; 1. What would be your starting bankroll? 2. What limits will you be playing? 3. How much poker experience have you got? Quote Link to comment Share on other sites More sharing options...
Dave Mardell Posted June 7, 2005 Share Posted June 7, 2005 Re: Advice please Gents.... 2. What limits will you be playing? This is quite an important point. I know many pros expect that over the long term, they expect to make one big bet per hour. Sure they can win $1000 in one hand but they can loose it too. So if you wanted to give yourselve a £10 hour salary youd need to be playing and winning the $10/20 game.... At least thats how it goes for limit holdem. Cant speak to NL, im not really a cash player. Quote Link to comment Share on other sites More sharing options...
mrmuzeman Posted June 7, 2005 Share Posted June 7, 2005 Re: Advice please Gents.... That 1 big bet an hour thing is for limit poker (as you said). A really good no limit player will make a lot more than that im pretty sure ;) Quote Link to comment Share on other sites More sharing options...
DAC Posted June 8, 2005 Author Share Posted June 8, 2005 Re: Advice please Gents.... 1. What would be your starting bankroll? I don't have a bank roll per sa as I think people get far to hung up about it. I have 3 accounts and tend to move money around accordingly. 2. What limits will you be playing? Normally 3/6 but it all depends on whos playing and whats going on. I win the majority of my cash in tournys. According to my ledger, Since May 1st I have played a total of 58 Tournys, winning 4, final table 12 times and in the cash 12 times and on the bubble a massive 3 times. My total cash wins since 1st May amount to exactly $3218.00. 3. How much poker experience have you got? As I said before, 19 months. I know the annual salary wouldn't be that great but I am working full time and don't get to play as much as I would like. Quote Link to comment Share on other sites More sharing options...
DAC Posted June 8, 2005 Author Share Posted June 8, 2005 Re: Advice please Gents.... ...but, I won't be turning PRO anytime soon. i had a good think and realised that I'm enjoying my poker, improving all the time and just generally making some nice cash. I'd hate to be having to win the next hand in order to pay the rent. I'm looking forward to playing against some of you guys...... Quote Link to comment Share on other sites More sharing options...
Dave Mardell Posted June 8, 2005 Share Posted June 8, 2005 Re: Advice please Gents.... ...but, I won't be turning PRO anytime soon. i had a good think and realised that I'm enjoying my poker, improving all the time and just generally making some nice cash. I'd hate to be having to win the next hand in order to pay the rent. I'm looking forward to playing against some of you guys...... Think its for the best. Poker is supposed to be fun. Winning is just how you keep score. Why make your hobby your job? Cerainly we all like a drink on a friday night, but I bet wed soon go off it if we were beer testers for a brewery :) Quote Link to comment Share on other sites More sharing options...
DAC Posted June 8, 2005 Author Share Posted June 8, 2005 Re: Advice please Gents.... Speak for yourself mate - free beer? lol Cheers for your advice earlier on the thread. I feel I may have been a bit flushed with success. Quote Link to comment Share on other sites More sharing options...
stekinguk Posted June 8, 2005 Share Posted June 8, 2005 Re: Advice please Gents.... Good to hear that you are gonna just keep it as a hobby, you would need to be playing higher limits to make a living at the game. Anyways, I hope your success continues :) Quote Link to comment Share on other sites More sharing options...
dave Posted June 8, 2005 Share Posted June 8, 2005 Re: Advice please Gents.... This is quite an important point. I know many pros expect that over the long term, they expect to make one big bet per hour. Sure they can win $1000 in one hand but they can loose it too. So if you wanted to give yourselve a £10 hour salary youd need to be playing and winning the $10/20 game.... At least thats how it goes for limit holdem. Cant speak to NL, im not really a cash player. Very different with NL. I seem to remember Jezza telling me that he makes about 18xBB per hour on average. My records aren't quite that accurate but if I worked out my hourly rate I expect that it would be around 10-15xBB. Quote Link to comment Share on other sites More sharing options...
Jezza Posted June 9, 2005 Share Posted June 9, 2005 Re: Advice please Gents.... Hi Guys, DAC you might want to check these threads... http://punterslounge.com/forum/showthread.php?t=13711 and http://www.punterslounge.com/forum/showthread.php?t=11650 In them are some of the ups downs and experiences of being a poker pro. I cant knock it at all, its a great life, total freedom, no boss and how well you do is entirely up to you. However it is definately the life of a single guy - long term gfs or wives seem to hate it! Poker marriages are notoriously some of the worst.... My advice to you would be to look at your current situation. You have to be willing to accept + handle mentally huge variances in your bankroll, be adept at understanding all gambling concepts correctly and of course be a winning poker player. Playing for a living is totally different to playing for a hobby of course - however you should not be in a situation where you feel "pressure" playing for a living, your bankroll and stakes you play should be tailored to avoid this, you should also leave yourself a years living expenses in a savings account should you decide to ever quit. If you match all of these things and are disallusioned with your current job (or quitting is easy) then I could not say a bad word about the life of a pro player. Several people have quit out of work for a year or two to enjoy it before returning back to where they came - read the book "big deal" for one authors account of doing so. Some of the other minor points in this thread... 1) Tax - Gambling winnings are EXEMPT from tax in this country. You will hear endless debates rage between people about this wherever you go in poker circles but here is the cold hard truth. You do NOT have to pay income tax on your winnings, you can even claim the tax on the interest in your bank account back as you wont be earning a wage in the tax free zone. You will still have to pay council tax, and although NI is voluntary I would highly recommend paying it. You will never get a mortgage, I dont even have a 100 quid overdraft. If you can secure a mortage under your salary however before quitting, the bank wont care as long as you keep the payments up. 2) Sitting in front of a PC for hours. lol....unless you are playing mega high stakes you are going to have to take playing seriously - anything under 25/50 NL and you will have to be putting in 8hrs a day 5 days a week to pull a decent salary but of course if you just want to scrape by and enjoy freedom you can do, if you want to play 24/7 and win loads - you can also do that. Lack of exercise and weight gain are noticeable it has to be said. Get a good chair and a clear monitor positioned properly. 3) BB per hour...pokertracker can tell you this. I just opened my copy up and looked at my crypto stats for 300,000 hands (combining all levels from 0.5/1 to 2.50/5 cash). It's not calculated per hour, its per 100 hands and seeing as you will get about 60 hands an hour in at an online poker table my PT rate is inflated over what I would earn per hour - 18.8 BB/100) Looking closer I see some amusing things....If I split up into stakes, on the 50c/1 dollar tables I have 28 BB/100 :eek but on the 1 quid/2 quid its only 16 BB/100... Jez Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.