In a bit of a crisis - help!

[cianosheehan]

Ok, first a bit of background (dont worry this wont take long!) - I've been relying on poker for all my income for the guts of a year now. While this hasnt been massive amounts of money (multi-tabling the 6 max 50's for most of it), it has certainly been enough, and meant I didnt have to get a regular job. So, I have decided to move out of home into my own place, which means the obvious...paying rent and bills. This is all well and good and I am confident I can cover living expenses with my poker income. Then suddenly, ouch...hit a bad patch. In the past week or so I have gradually lost over 1/3rd of my bankroll. It is actually probably the worst patch I have ever been through. I cannot say it is simply down to bad luck, but bad luck has a massive part in it. So, now I am stuck between a rock and a hard place. The way I see it, my options are;

a) Continue to do what I do best and stick it out at poker and build up my BR and try and crawl my way back into surplus - but risk a continued loss and destroying my BR, not to mention not making the rent.
b) Get a regular job, if even just to get myself back on my poker feet - but that would mean getting a regular job.
c) Postpone moving out and take time to get back on my poker feet (but that would mean losing out on a really nice place that I have found, also I am moving in this evening!)

Any advice will be much much appreciated! P.S, I will also consider any job offers you may make!

[Evan]

1) Do you live in or near northern California?
2) If you answered "yes" to #1, how do you feel about vinyl signs and the vinyl sign making process?

[fnord_too]

I vote for postpone moving out if you haven't already signed a lease and get back on your feet.

Getting a regular job is not a bad option, either. I would still postpone moving out if you go that route until you have rebuilt your bankroll or are sure that you won't need to find another job. (You may hate the first job you get, not make enough to pay for everything from it alone, etc.)

[cianosheehan]

[ QUOTE ]
1) Do you live in or near northern California?
2) If you answered "yes" to #1, how do you feel about vinyl signs and the vinyl sign making process?

[/ QUOTE ]

Even though I would be interested in vinyl sign making, I'm afraid the early morning starts would be too much for me...I live in Ireland /images/graemlins/grin.gif . But thanks for the offer!

[Vincent Lepore]

Do like Bill Gates did! Go to college, play poker for tuition, get an education in something you love doing besides playing poker. Live life, laugh and be happy!

Vince

[cianosheehan]

[ QUOTE ]
I vote for postpone moving out if you haven't already signed a lease and get back on your feet.

Getting a regular job is not a bad option, either. I would still postpone moving out if you go that route until you have rebuilt your bankroll or are sure that you won't need to find another job. (You may hate the first job you get, not make enough to pay for everything from it alone, etc.)

[/ QUOTE ]

As far as I know, most jobs would be paying enough to cover my expenses. Rent isnt too much and if I can get my BR back in shape, the combination of the two should be fine. The trouble is I need to find a job quickly, or get a magical $500 into my account and get over this frustrating gut-clouding feeling of "I now expect to lose" /images/graemlins/confused.gif.

[Rick Diesel]

[ QUOTE ]
[ QUOTE ]
I vote for postpone moving out if you haven't already signed a lease and get back on your feet.

Getting a regular job is not a bad option, either. I would still postpone moving out if you go that route until you have rebuilt your bankroll or are sure that you won't need to find another job. (You may hate the first job you get, not make enough to pay for everything from it alone, etc.)

[/ QUOTE ]

As far as I know, most jobs would be paying enough to cover my expenses. Rent isnt too much and if I can get my BR back in shape, the combination of the two should be fine. The trouble is I need to find a job quickly, or get a magical $500 into my account and get over this frustrating gut-clouding feeling of "I now expect to lose" /images/graemlins/confused.gif.

[/ QUOTE ]

If $500 is 1/3 of your bankroll, then there is no way in hell you should be depending on poker for a living. I would say that you should wait until your bankroll is at least 20 times that.

[cianosheehan]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I vote for postpone moving out if you haven't already signed a lease and get back on your feet.

Getting a regular job is not a bad option, either. I would still postpone moving out if you go that route until you have rebuilt your bankroll or are sure that you won't need to find another job. (You may hate the first job you get, not make enough to pay for everything from it alone, etc.)

[/ QUOTE ]

As far as I know, most jobs would be paying enough to cover my expenses. Rent isnt too much and if I can get my BR back in shape, the combination of the two should be fine. The trouble is I need to find a job quickly, or get a magical $500 into my account and get over this frustrating gut-clouding feeling of "I now expect to lose" /images/graemlins/confused.gif.

[/ QUOTE ]

If $500 is 1/3 of your bankroll, then there is no way in hell you should be depending on poker for a living. I would say that you should wait until your bankroll is at least 20 times that.

[/ QUOTE ]

I knew that was going to come out /images/graemlins/smile.gif I have been living off poker for the guts of a year and it has definately been enough to live off and I have been consistently earning more than any job a person of my qualification and age could expect to have. Im not moving into a lavish lifestyle, the rent i will be paying is quite cheap etc etc. I also currently give my mother the equivalent of more than half the rent I will be paying.

[SheridanCat]

[ QUOTE ]
b) Get a regular job, if even just to get myself back on my poker feet - but that would mean getting a regular job.


[/ QUOTE ]

Do this one. I'm not saying you gotta be a nose-to-the-grindstone guy, just get a job that pays the bills and lets you do what you want to do. Maybe try temping since that can give you some flexibility with your schedule.

Also, seriously consider continuing your education, as I'm assuming you are not a college graduate (just based on your living at home). It may not seem like a useful thing right now, but it could come in handy someday.

Regards,

T

[cianosheehan]

I have already applied to finish my final year of college (I am on a year out), so the move could be only until the end of September, but we will see how things pan out. I'm going to start looking for a job tomorrow, I will look into temping, thanks. I was thinking that its a bit of a failure, having to get a job after going so long just relying on poker, but at the same time, poker does get to me now and again, and I would like to do something different with my day rather than spend hours in front of a screen by myself.

[RunDownHouse]

[ QUOTE ]
I have been living off poker for the guts of a year and it has definately been enough to live off and I have been consistently earning more than any job a person of my qualification and age could expect to have.

[/ QUOTE ]
What, do you have a nasty coke habit on the side? You've been playing for a year and earning "definately [sic] enough to live off," but your roll is only $1500? And you had one bad spell and are scrambling to make ends meet?

Something isn't adding up. Its either your spending v. saving or, more likely, your "success" at the game.

[nicky g]

He's playing the 50max games, so his bankroll is 30 buy-ins. That's not too shabby; although if it was my sole source of income I'd probably want more.

[bholdr]

Have you considered getting a job that compliments your poker playing? I manage an apartment building, for which i get free rent plus a pittance oc a salary... it's great not having to worry that a downswing could put me out on the street.

also, and i'm sure someone has mentioned this already, a poker pro should have several months living expenses set aside, that is, NOT part of your bankroll. i personally wouldn't try to support myself on poker unless i had enough money to cover two to four months- everything, rent, food, beer money, etc, in the bank, plus a standard 300BB roll.

[drewjustdrew]

You need to build up your playing bankroll before moving out if a $500 hit is going to scare you (even if it isn't because losing $1500 is nothing remarkable). You can also get a real job. Be a poker dealer. Do they have card rooms in ireland?

My recommendation is to:

1. build up a playing bankroll of 100 times your buy-in level

2. in addition, save another 3-6 months of living expenses

[Frills]

Living with parents, playing poker

The real world is about to slap ya in the face

[BigBaitsim (milo)]

Get a job.

Quit playing above your bankroll.