gambling for a living
 

This is a question for those of you out there making a living, or at least steadily making profits playing on-line poker.

I'd like advice on the types of on-line NL Holdem games people are playing for a living. I've been playing on-line for one year, I've played about 200 games, and my winning percentage is just under 40%.

Given these facts, what tables/games should I play to build a bank roll?

Sit-n-Go single tables? Multi-table tourneys? What buy-in levels do you typically play?

From my experience, the $30 and $50 single table sit-n-go tables are a good investment for me in the long run because of the relatively low investment risk per game and high enough payoff.

Thanks!

Re: gambling for a living
 

I do it for a living, play 5/10 NL 6 max on pp, I would start SMALL and move up if I was you, I prefer NL to limit cause of the different skill set involves fit me more.

Re: gambling for a living
 

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I've played about 200 games

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Why only 200 games if you are using poker and living in the same sentence?

Keep playing and you should be able to get a better grip on what fits you best.

Re: gambling for a living
 

I remember thinking I was god's gift to poker too when I first started...

*waiting for somebody to take the ridiculously easy set-up I just offered*

Re: gambling for a living
 

well, if you want to do it for a living, here's my advice:

1) get pokertracker
2) I'd play at least 50,000 or so hands before you think about doing it as a living
3) look at your win rate, and your hourly rate, and figure out how much you'd have to play to pay all of your expenses.

I've made a living for about 5 months 4-6 tabling 2/4 and 3/6, but I'm a college student and don't have a whole lot of expenses. (I can live pretty comfortably for less than $1k a month) but it's a stressful living, if you ask me. I'd much rather have another job, there just aren't any that pay a 19-year old as well as this.

Re: gambling for a living
 

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[ QUOTE ]
I've played about 200 games

[/ QUOTE ]

Why only 200 games if you are using poker and living in the same sentence?

Keep playing and you should be able to get a better grip on what fits you best.

[/ QUOTE ]

I've only played tournaments, not cash games. So I'll clarify by saying I've played 200 tournaments and make it in the money 40% of the time. But I'll take your point just the same, I should get more experience playing.

On another note, what data do you log when you play? Do you log every hand, or just hourly data based on your chip stack?

thanks.

Re: gambling for a living
 

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I remember thinking I was god's gift to poker too when I first started...

*waiting for somebody to take the ridiculously easy set-up I just offered*

[/ QUOTE ]


http://img373.imageshack.us/img373/967/graph1wn.gif

Your witness.

(what do i win?)

Re: gambling for a living
 

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I've only played tournaments, not cash games. So I'll clarify by saying I've played 200 tournaments and make it in the money 40% of the time.

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I've played 200 tournaments in the past week and I'm small time. Ask again when you hit 2000 and have a decent ROI. Actually you won't have to ask by then, you'll have a pretty good idea.

Re: gambling for a living
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I've played about 200 games

[/ QUOTE ]

Why only 200 games if you are using poker and living in the same sentence?

Keep playing and you should be able to get a better grip on what fits you best.

[/ QUOTE ]

I've only played tournaments, not cash games. So I'll clarify by saying I've played 200 tournaments and make it in the money 40% of the time. But I'll take your point just the same, I should get more experience playing.

On another note, what data do you log when you play? Do you log every hand, or just hourly data based on your chip stack?

thanks.

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Did you mean 200 games as in 200 tournaments? Glad to see you're doing well but you will need loads more experience before playing for a living.

Personally I'm turning pro in the next few weeks playing 3/6 limit 6max.

You won't find an answer as to which game is most profitable overall. My advice is to try out everything and to find what is most profitable for you. I played SnG's and Omaha8 before I settled into 6max limit hold'em. Go learn the basics of and play micro-limits of every game that interests you. Move up level by level when you find you are dominating. Always keep striving to learn and improve. What is your bankroll? Tiger Gaming has excellent micro-limit hold'em tables, that's where I started a year ago =) Best of luck

Re: gambling for a living
 

It isn't possible to play for a living at the $50 games. If you're talking about the ten handed sit and go's and you're winning almost 40% you're playing well AND catching cards. This number isn't sustainable in the long run. My half johnny chan, half phil helmuth robot only wins 28% in those things and he's super good. Keep building a roll at that level and take your shots at bigger games. When I'm feeling frisky I play $200 5 man and heads up games at the fish pond as i call it (real site name not found). I'd say these games are still fishy for the level, but that's my opinion. You've got to test the waters yourself and see how high you can go without losing your comfort level.

Re: gambling for a living
 

[ QUOTE ]
It isn't possible to play for a living at the $50 games. If you're talking about the ten handed sit and go's and you're winning almost 40% you're playing well AND catching cards. This number isn't sustainable in the long run. My half johnny chan, half phil helmuth robot only wins 28% in those things and he's super good. Keep building a roll at that level and take your shots at bigger games. When I'm feeling frisky I play $200 5 man and heads up games at the fish pond as i call it (real site name not found). I'd say these games are still fishy for the level, but that's my opinion. You've got to test the waters yourself and see how high you can go without losing your comfort level.

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Don't be such a Negative Nancy.

He's going to win the WSOP this year.

Re: gambling for a living
 

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It isn't possible to play for a living at the $50 games.

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Post this in the STT forum, then duck.

Re: gambling for a living
 

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It isn't possible to play for a living at the $50 games.

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Please don't reply when you have no idea what you are talking about. Some pro's live at the $22s and $33s.

Re: gambling for a living
 

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My half johnny chan, half phil helmuth robot only wins 28%

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Hey noob, he said he was in the money 40% of the time. FWIW, I (and many others) could 8 table- $10SNG's, 40 hours a week and pay the rent and eat, but would not enjoy it one bit.

Re: gambling for a living
 

er I played 500 SnG's when i was first starting out and was ITM 49% of the time - and still two years and many $1000's won later am nowhere near good enough to even use the words 'semi-pro' in a sentence with my name

Re: gambling for a living
 

I make a living at the 50s... And it's decent.
...But 200 tourneys is what I do in 5 days, not one year!

Seems like (emphasis on "seems") you can beat the tourneys you've played at, but before you even think about being pro, you should play loads more hour to see if you have the stamina (underrated by mosts!) and if you still win while multitabling. Once you reach around 1k tourney you can start thinking in terms of hourly winrate and number o hours to put per week, and you can post again for more advice if it still looks doable.
Good luck.

Re: gambling for a living
 

I posted the original topic/question above...

I want to clarify that I consider myself a newbie, and my original posting was to get advice on how/what pros are playing? It wasn't my intention to say look at me, I've played 200 games and I'm ready to turn pro. My intended question was, given the facts I listed, what are my next steps?

I've seen people at the 20,30, and 50 sit-n-go tables who have played over 2000 games so I'm guessing there is a way to make money long-term at those games. The way I see it there are usually 7 fish at those tables so it's pretty easy to make it in the money.

I have very little experience with the cash games so I'll continue my sit-n-go tables and experiment with the cash games.

Seriously, thanks to those who have replied with your experience/advice. Good stuff!

Re: gambling for a living
 

THere's a 1 table tournament forum that's strictly for sit n gos. There's people who make a living at the 50's (and even the 30's) but like others said, they play more than 200 per week.

If you can achieve 10% ROI you're getting back $5.50 per tournament so you can figure out how many you'd need to play per week to live. However I wouldn't trust your current ROI based on your sample size. Try to play at least 10 per night and in 3 months re-evaluate.

It also sounds like you might be playing 1 table at a time. When you start playing 8 at a time your ROI drops quite a bit but your hourly rate goes way up.

Re: gambling for a living
 

Some people in this thread have no idea what they are talking about when it comes to sngs.

First of all, buyin by itself means nothing. Before we know if they can earn a decent income, we need to know hours, skill and how many tables they play.

A decent 8tabling $22er will make over 50k a year, working less than 30hrs a week with 10+ weeks off per year.

Don't go telling me you have to play at least 250 $55s a week to make a living. You don't need 6 figs to make a living.

Re: gambling for a living
 

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My intended question was, given the facts I listed, what are my next steps?

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Spend about a week reading the archives of the one-table tournaments forum.

Re: gambling for a living
 

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It isn't possible to play for a living at the $50 games.

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8-tabling you'll get 500 of these in a week without breaking a sweat. So if your ROI is a measly 10% you only make $2500 per week. Ok, I admit it's hard to live on $125k a year, but surely a few near-beggars manage?

Re: gambling for a living
 

[ QUOTE ]
[ QUOTE ]
It isn't possible to play for a living at the $50 games.

[/ QUOTE ]

8-tabling you'll get 500 of these in a week without breaking a sweat. So if your ROI is a measly 10% you only make $2500 per week. Ok, I admit it's hard to live on $125k a year, but surely a few near-beggars manage?

[/ QUOTE ]
NH

Re: gambling for a living
 

come to the STT Forum. I make enough money to pay the bills playing the $22's. Im in college and dont need much but whatever. People here have no idea what their talking about when it comes to SNG's.