Is the action drying up on Party Poker?

This is my first post so forgive me if I am redundant or in the wrong spot.

Arethe games tighting up on Party at even the lower limits and are the loose players being driven out? That is are the profit making opportunities being driven out of the game as more people flock to try and become pros? I am an economist and this is what we would expect to happen given the incredilbe profit opportunites that were present a couple of years ago. Profits bring more skilled players into the market which drives down profits.

On a personal note I took up the game in earnest in April and it seems to me that the games have tighted up at Party significantly since then. It seems the line ups for the highest average pot tables have increased and ther are fewer of them at the .5/1 to 3/6 limits. Would you guys agree with this observation.

Like many I aspire to go pro someday but wonder if the opportunity will still be there for me in say a year or two once my game has improved enough? Do you think there will be so many skilled players playing in the next two years that profit opportunites willl eveaporate?

Thanks

[W. Deranged]

I know some say that the best economists are defunct mathematicians. Regardless, I have no reason to think that the best poker players are defunct economists...

You have a sweet gig. Why would you want to quit your day job?

FWIW I have no intention of ever going pro.

Thank you for your reponse.
I love holdem.
Learning to play holdem well, where each situation is different is the most exciting thing I have come across in the last few years. I have done reasonably well investing in the stock market and in hedge funds and this might allow me to semi-retire. I live in Canada so I would pay no taxes on my winnings.
Any thoughts on where profit opportunities playing internet holdem will be over the next few years?

[meep_42]

Don't even Canadians have to pay taxes if they are pro gamblers? I thought it was just recreational gamblers that got the free pass...

-d

hence the phrase semi-retire....................

[MrStretchie]

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hence the phrase semi-retire....................

[/ QUOTE ]

Don't think it's that easy. From the CRA website:

CRA Link

Gambling Profits

10. Profits derived from bookmaking or from the operation of any gambling establishment (carried on legally or otherwise) constitute income from a business. In addition, an individual may be subject to tax on income derived from gambling itself, if the gambling activities constitute carrying on the business of gambling; see the decision of MNR v. Morden, (1961) CTC 484, 61 DTC 1266 (Ex. Ct.). The issue of whether or not an individual's activities are such that he or she can be considered to be carrying on a gambling business is a question of fact that can be determined only by an examination of all of the circumstances and the taxpayer's entire course of conduct. Although no one factor may be conclusive, the following criteria should be considered in making the determination:

(a) the degree of organization that is present in the pursuit of this activity by the taxpayer,

(b) the existence of special knowledge or inside information that enables the taxpayer to reduce the element of chance,

(c) the taxpayer's intention to gamble for pleasure as compared with any intention to gamble for profit as a means of gaining a livelihood, and

(d) the extent of the taxpayer's gambling activities, including the number and frequency of bets.

A 2+2er playing semi-pro would definitely qualify I would think.. (Unfortunately)

[MaxPower]

[ QUOTE ]
Thank you for your reponse.
I love holdem.
Learning to play holdem well, where each situation is different is the most exciting thing I have come across in the last few years. I have done reasonably well investing in the stock market and in hedge funds and this might allow me to semi-retire. I live in Canada so I would pay no taxes on my winnings.
Any thoughts on where profit opportunities playing internet holdem will be over the next few years?

[/ QUOTE ]

The profit opportunity comes from becoming a better and better player and practicing good game selection. It is possible that this tightening-up is happening, it just means you have to play better to win.

[callmedonnie]

Why not? Working sucks.

Amen

[rryjew]

To answer your question, I think Party has an endless supply of fish. Like many here, I use PT to keep my buddy list up to date and I've been doing fine, even though my game sucks, just not as bad as those on my buddy list.