Playing Online for a Living Year One

[balkii]

A little background:

I am 23 years old. I used to work at this law firm, as a messenger. When I got hired, my hair was buzzed short. I worked there for like 3 years, and grew my hair all the while. Eventually they couldnt take the dreadlocks and told me cut my hair or I'm fired. So I quit. Got set up on some unemployment making like 232$/wk. So it wasnt bad. I was living with teh folks. Now around this time I had started playing some 5$ buyin home games with my friends. This is before I even knew texas holdem. I learned pretty quickly that I was better than most of them, so I started keeping records. I was winning, and I wanted to win more so I started reading books. Then taught myself BJ basic strategy and how to count cards. Then I learned that poker is more profitable.

Somehow I stumbled onto paradise poker play money games. Well, I was good! I turned 1000 play money chips into 3000 at teh 3/6 tables in no time! So surely it was time to start depositing my unemployment money into online poker. Started with 20 transfered from a friend. Made it up to 50 playing .5/1, then lost. But surely it was just bad luck. So i deposit another 100 and get a 15% bonus. Steadily lost that. Now I had quit online poker. But I had money in the bank. And my buddy calls me, "hey paradise is having a 25% deposit bonus! put 400 in and you get 100 free to play with!" So i go ok, I'll only play on this 100 dollars. Steadily lost that down till i had like 10 left. Ah but I got WLLH in the mail just a day earlier, and I started winning.

Fast forward 7 months to January 2004.

I had now built those last 10 dollars into a 2400$ bankroll, and was playing 3/6 at party. The employment office was starting to get on me about looking for a job (i'd been on the unemployment for 2 extensions (13 months). So I thought, well, I'm just gonna play a ton of poker this month, and see how I do. I stopped claiming unemployment half way into that month, and came out on top with 1700$ for the month. I played 71 hrs of poker that month, and got in 12,458 hands. Not bad.

So I was liking it. Kept playing now fully supporting myself (i had moved out of folks house the previous september) and wasnt on unemployment. Each month I was playing a little bit more and winning a little bit more. Studied 2+2 forums and books intensely. This was when SS forum was loaded with great posters and good advice. I owe many posters a LOT of beers. Joe Tall responded to one of my first posts (back when he was LarryJoeFish) with his trademark "welcome to the forum" and good advice. I owe about half my winrate to Clarkmeister and Dynasty; they would post things that I wouldnt always agree with, but I figured, "well I bet they win more $$ than me so I'm gonna do what they say and try to find out why its right." And I have been raising ATs UTG ever since. And never folding my flush draws. And it has been good.

Played the 3/6 game for many many hands, and finally decided I was costing myself money by not moving up to 5/10. Well, played the full games for a while (26K hands) and came out barely ahead. I was living off the incomce so I couldnt take it anymore. Dropped back down. Rebuilt my confidence and my roll and started playing the 5/10 full game only at nights. It was great. Played just like 3/6. Then I finally made the switch to the 6max. Wow. That [censored] is hell. a Lot of fun, but I think i'm gonna die of stress related illness.

I'm not gonna dig thru PT looking for crazy hands or wild beats, but I will post the one beat that I can remember. Table was shorthanded, and I have 88 in the big blind. I think i raised it against an UTG limper and the SB. Flop was 84x. Capped by me and UTG. turn was A. capped. River was A. Capped, and I lose to A4. Ick.

Anyways. So here I am, after 1 year of online pro poker. I played 222,928 hands of poker. I worked 965 hours. I made $43,906.43. I'm looking forward to next year.

[Ianco15]

Well done.

[bear187]

You may think this sounds gay but you're really an inspiration for me bro. Your success is a big confidence boost.

[bisonbison]

Congrats, dude. I'll be making this post in August.

[PhatPots]

I enjoyed reading your post. Congrats on your first year of pro online poker. wouldn't want to be a full time online player but your story is inspiring.

Cheers,
Pots

[pfkaok]

[ QUOTE ]
Congrats, dude. I'll be making this post in August.

[/ QUOTE ]

Ditto, very good story. I'm at 6 months now, and in June I have a feeling my 1 year story will be somewhat similar.

[Tosh]

Good job, though I cannot really play full time professionally my record keeping starts tomorrow, so see you in a year. /images/graemlins/smile.gif

[Piz0wn0reD!!!!!!]

tommorow is as well my 1 year of being pro. You owe me huge for gettin you into that first game of poker. 50% sounds good to me.

[Piz0wn0reD!!!!!!]

ps. you never feared going broke. You dont know stress. /images/graemlins/smirk.gif

[Lawrence Ng]

I'd be very interested to know what your stats were for this year and what your big hand winners were. Did you use Pokertracker? Any chance you could post the top 10 winning hands and what the win rates they were in terms of BB/100?

I'm a noob when it comes to online play and I'm so stat oriented.

Just post a screenshot up here.

Thanks.

Lawrence

[lefty rosen]

By the way how many tables do you play at once? Also do you get a rakeback deal?

[what]

Very nice job. I just finished my first 6 months and just typed up a long review for another forum. I'll cross post it here tomorrow. Good luck to you.

[Kenrick]

I don't know why on Earth you'd screw over your foot in the door at a lawfirm over some long hair, but other than that, good job. BisonBison is one of my gotta-pay-rent heroes, so if he says it's good, then it's good.

Just don't get lazy, and even better, put more hours in than you normally would, and really make it happen.

[Zetack]

You don't have to answer this if you don't want, but are you paying taxes out of the 43K?

If so did you do all the quarterly payments and stuff? How hard was it to figure all that out?

--Zetack

[Luv2DriveTT]

[ QUOTE ]
You don't have to answer this if you don't want, but are you paying taxes out of the 43K?

If so did you do all the quarterly payments and stuff? How hard was it to figure all that out?

--Zetack

[/ QUOTE ]

I'm not Balkii, but I can tell you it's rather easy. You only have to file once per year, but quaterly you have to file an estimate of the quaterly income. Luckilly most of us use Poker Tracker (and some of us also use it along with StatKing which also helps track bonuses, rakeback, expences, and B&M games) so its super easy to file a quaterly estimate w/payments.

I'm considering filling professional status in 2005, hence I've had to do my research on this recently. As long as you log all your sessions, you will have all the evidence you need to back you up in the event of a chalange (audit) by the IRS. Just cross your fingers and dive in... and don't be afraid of an audit. I was audited recently, its wasn't as bad as it seems.

TT /images/graemlins/club.gif

PS: Congrats Balkii!!!! Great post, and even greater milestone. Whats your goals for 2005?

[Fabian]

I'm at 6 months now too, started playing after I graduated from high school. Hm maybe that's 7 months. Oh well.

[A_C_Slater]

The Earth has labored for one hundred million years to give birth to balkii.

Now at last, we have a man .

You are my hero.

[balkii]

[ QUOTE ]
By the way how many tables do you play at once? Also do you get a rakeback deal?

[/ QUOTE ]

My multitable ratio avg in PT says 3 for the year. I used to play two, then 3, and now 4 table.

I had no rakeback deal (though some jerk has made a lot of $$ of me!), but am getting set up with one pretty soon here. I missed out on a lost of dough but i'll be happy if i start getting it now.

[balkii]

I don't know why on Earth you'd screw over your foot in the door at a lawfirm over some long hair

Dude, I'm a musician! and I had dreadlocks man! you dont just cut your hair for the man. My hair is now short by the way but seriously if i hadn't gone out like that I wouldnt be making this post. I made twice the money in half the hours playing poker last year compared to what I would have made at the law firm. So i'm pretty happy about that.

[balkii]

http://uploads.savefile.com/redir/78844.jpg

[BusterStacks]

so... are you a winning player?

[Entity]

Dude, I so hope you have rakeback. /images/graemlins/smile.gif

Congrats.

Rob

[SomethingClever]

Nice post and keep up the good work.

I'm going to pwn our $1 million challenge, though.

[Alobar]

you are aware that anyone with an IQ over 70 can still figure out what your winrate is from that screen shot correct? /images/graemlins/smile.gif

Good Job man. Anc congrats on sticking it to the man over some long hair. I have mad respect for you now. Hope your next year is just as good, except when you are at my table /images/graemlins/smile.gif

[K C]

Very nice job dude. I can relate to the cutting of the hair thing /images/graemlins/smile.gif I was in management before I started playing poker and I was sick of cutting my hair for the man. Didn't get a haircut for 8 months /images/graemlins/smile.gif

Probably the nicest thing about being a poker player is you don't have to answer to anyone /images/graemlins/smile.gif

I see you've tightened up a bit at 5/10. Good stuff. Very nice first year earnings especially at those levels. You'll be kicking some serious booty this year as you move up some more /images/graemlins/cool.gif

Best of luck
KC
http://kingcobrapoker.com

[Rudbaeck]

[ QUOTE ]
you are aware that anyone with an IQ over 70 can still figure out what your winrate is from that screen shot correct? /images/graemlins/smile.gif

[/ QUOTE ]

I think balkii did it to make us do the math. Atleast I felt an unresistable urge to check his bb/100. Guess I should talk to my therapist about this.

[fnord_too]

Congrats man!

You whited out your BB/100 because...? (All the info needed to generate this you left /images/graemlins/tongue.gif)

[balkii]

[ QUOTE ]
I think balkii did it to make us do the math.

[/ QUOTE ]

you gotta work for it boys!

[MicroBob]

[ QUOTE ]
you are aware that anyone with an IQ over 70 can still figure out what your winrate is from that screen shot correct?

[/ QUOTE ]


that's exactly what i thought.
Of all the things to white-out on the screen-shot I found that kind of strange (and hilarious).

I don't feel like doing the math though....someone else tell me what his win-rate is.

Oh hell....I'll just grab my calculator and do it myself.


Your VP is kinda low but your PFR looks good...you're obviously having significant success even with the slightly lower VP.

Congrats on your first year under your belt.

Can't believe it has taken you this long to set up your rake-back. You are correct....you have been missing out on A LOT of $$$.


My 1-year post should be coming in April.


didn't sound like you exactly had your foot-in-the-door at the law-firm. You were just a courier getting paid whatever low wage they paid you for 3 years.

I spent my first 7 months of online-pokering NOT getting my hair-cut. Since I'm pretty bald on top (I'm 34) I was starting to look REALLY bad. I wanted to grow the sides long enough to do the big 'flip-over' my baldness thing as a big joke on people who seriously do that....but my hair was more flippy than straight and I just couldn't pull it off (maybe with gel to weigh it down...I never really tried though).

I guess my hair looked kind of mad professor-ish or mike caro-ish in a way for lack of a better description.

[dr. klopek]

Hey man, congratulations. Good luck with the moves to 10/20 and 15/30. It's good to know that I have a great player constantly needling me. Congratulations also on using this to pursue music, you're becoming an excellent bass player. With enough luck and your expert tutilage, I'll be making this same post a mere six years from now. You pwn at life more than anyone I know, and I know piz0wn0r3d!!!!!!!...

[joker122]

you might consider looking into the fact that after 222k hands 99 is a bigger winner than TT.

[balkii]

Your VP is kinda low but your PFR looks good...you're obviously having significant success even with the slightly lower VP.

you know everyone on here will say its too low and I try to loosen up where I can buti dont know what else to play. it works for me and its not like i have any trouble getting action...

[Ponks]

My VPIP is even lower and I don't know where to add hands either.

Ponks

[Lawrence Ng]

Thanks Balki.

The 5/10 6 Handed game definitely looks fat.

Lawrence

[BottlesOf]

My 5/10 vpip is a shade over 15. I feel like it should be a point or two higher. I'm not sure how to accomplish that.

[balkii]

[ QUOTE ]
you might consider looking into the fact that after 222k hands 99 is a bigger winner than TT.

[/ QUOTE ]

I would be more concerned with this if 77 wasnt also winning more than 88, and 22 wasnt breakeven, and 44 and 33 weren't still losers for me.

[MicroBob]

In the meanwhile, my VP is around 19-20 and I can't figure out how to get it any lower.

LOL!! My name is Bob and I'm a LAG!!

[sublime]

you know everyone on here will say its too low

i doubt that ANYONES problem is playing to few hands.

good work man, bring back bronson /images/graemlins/shocked.gif

[bicyclekick]

Way to go balkii!

[BusterStacks]

[ QUOTE ]
you know everyone on here will say its too low

i doubt that ANYONES problem is playing to few hands.

good work man, bring back bronson /images/graemlins/shocked.gif

[/ QUOTE ]

my problem is playing too few hands. seriously.

[AceHigh]

That's not that unusual. Something about when you flop a set you are more likely to get paid off by top pair, but flop an overpair at nearly the same rate. Astroglide stats showed the samething.

[sublime]

my problem is playing too few hands. seriously

are you beating the game in question? is it full or 6max?

[BusterStacks]

Full...yes

6max...no

[Michael Davis]

Okay, I'll bite.

I have 150K hands at 5-10 6-max. QQ makes 2.15 b/hand, KK makes 1.59. My winning percentage with QQ is higher than with KK by 2 percentage points.

-Michael

[therockofgibraltar]

very nice post, thank you!

[jackaaron]

I'm a total noob (I don't have pokertracker), but looking at the screenshot, you didn't actually make 43906 for the year, right? It looks like you make 43906 minus 30387 in rakes, or did you actually profit 43906 after all the rakes were paid? (Not that that would be bad, just saying there's a huge difference between 43906 and 13519). If I'm a dumb a** because I got this wrong, feel free to tell me so...

[x2ski]

Good question, but you're wrong.

The green number is your net income after rake.

www.pokertracker.com (http://www.pokertracker.com)

[theghost]

[ QUOTE ]
Good question, but you're wrong.

The green number is your net income after rake.

[/ QUOTE ]

Which means the 43 should have been 50 if Balki had a rake rebate deal. Next year looks even rosier /images/graemlins/smile.gif

[jackaaron]

evidently the 33,xxx must be the rake the site had or something. For someone to have personally paid that much rake they would have had to make about 100 times that in profit since rake is like 1 percent of winning pots, right?

[Michael Davis]

No, that is actually the amount that has been raked out of balkii's pots.

-Michael

[spydog]

Balkii,

Please post the hands where you coldcalled with AA and KK so that the forum can beat you into submission.

Nice work in 2004. Good luck in '05.

[TimM]

[ QUOTE ]
Please post the hands where you coldcalled with AA and KK so that the forum can beat you into submission.

[/ QUOTE ]

Perhaps they were capped before it got to him. Always nice.

[jackaaron]

Okay, something's not making sense. If 33,xxx is the amount raked from his pots, and rakes are 1 percent of the pot, then he's been involved with winning 3,3xx,xxx in pots, and came off with a profit of 4x,xxx. Yet, at the same time, he's not playing no limit, he's playing limit (low limit at that). I apoligize for not getting what's going here, it just seems weird. I could see if he was playing in HIGH stakes no limit with his actual money at that (not for tourney chips in a 9+1 dollar buy in).
Assume I know nothing this time when you answer please...

[sourbeaver]

I hope you have a rake back deal /images/graemlins/blush.gif /images/graemlins/blush.gif /images/graemlins/blush.gif

[sourbeaver]

[ QUOTE ]

Dude, I'm a musician! and I had dreadlocks man! you dont just cut your hair for the man.

[/ QUOTE ]

I can't begin to explain how right that sounds to me /images/graemlins/wink.gif

[TimM]

Rakes are not 1% of the pot:

http://www.partypoker.com/games/rake.html

[JPNet]

Also, I may have this wrong, but doesn't the rake contribution include a portion of the rake for every hand I play. i.e. I could play for an hour, play 15 hands, fold or lose every one, and for that hour I would have a negative $won, and I would have contributed rake $?

Another way of saying this is that my rake contribution is based on the $ I have wagered, not on the amount won. i.e. if a pot is raked $4, a portion of that $4 was contributed by each player who put money in the pot.

[balkii]

[ QUOTE ]
Balkii,

Please post the hands where you coldcalled with AA and KK so that the forum can beat you into submission.

Nice work in 2004. Good luck in '05.

[/ QUOTE ]


Ha. I cant remember them all but I played one great.

I put a beat on a bad player a few hands earlier, and he has been calling me a fish, etc. So I pick up AA in late position. EP raises, the bad player 3-bets, I think theres a decent chance EP will cap, and my coldcall of 3-bets wont look suspicious, because hey, im a fish.

Ep caps, we all call. 3 to the flop. Flop is 689r. They cap, and I'm coldcalling all the while. Turn is 5, which really blows for me because its gonna kill my action. EP bets, MP calls, I raise, both call. River, 7.

I chop with QQ and KK.

[MaxPower]

Every time he wins a pot, the house takes out a rake that is 3% up to $3 (I think). The $30,387 is the sum of all the rakes taken out of the pots that he won. He played 222,928 hands and won 10% of them. So he won about 22,293 pots and the average rake for each pot was about $1.36.

Does that make sense?

By the way. Well done Balkii.