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Old 11-05-2004, 11:11 AM
BigNutSack BigNutSack is offline
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Join Date: Oct 2004
Posts: 19
Default Should I quit my Wall Street job and go pro?

I just opened an Empire account 3 days ago and have increased my $500 initial deposit up to a $650 stake by playing only 1-2 hours a night. If you add in the $100 sign up bonus that I have almost cleared (I need 500 raked hands - I'm up to 350 so far), I'll have $750 in my account. So $250 in profits in about 5 hours is $50 an hour which is a lot less than my multiple 6 figure income on Wall Street. I play mostly 25NL, 50NL, 100NL, but went up to 10/20 one night after a couple of bad beats at 100NL in order to make my money back quickly. I could probably make more if I increase my game (I hear the 30/60 games are real fishy!). Furthermore, I've only been playing 1 or 2 tables at a time so I could probably increase my win rate by going to 15 or 20 tables at a time. I'll probably need to install 4 21" monitors on my computer so there's the initial investment of $5,000 bucks. Plus I won't have free health care that I get at my job. Since I work on Wall Street, I am used to big PnL swings, so the ups and downs in my stake would just be an odd-lot to me. The other thing to consider is all the perks I get at my job - like the steak dinners at Del Friscos with $500 bottles of Bordeaux, followed by a few hours of lap dances at the VIP club. Not to mention the front row tickets to Yankee games.

So by my calculations, I can increase my $50 an hour rate to about $300 an hour by increasing the number of tables and playing higher stakes. If I play 10 hours a day, that's $3,000 a day times 200 days a year (I'll take a lot of vacations), I can expect to make $600,000. I was also thinking of teaching my wife to play - she could probably pull in about $300,000 a year working part-time. My kids also like playing hold 'em, but they are 9, 6 and 4, so they can only play in the play money games. But they should easily be able to pay for their college educations when they turn 18. Plus, with all the money I'd pull in, I could make even more by investing the profits in day trading and real estate. Or better yet, I can just buy Google and double my money in a few weeks! You also have to factor in the money I'd be saving by not having to pay $10 for a salad and soda at the overpriced New York delis. I'd save $225 a month on my train pass. And I wouldn't have to spend money getting my shirts dry cleaned since I could just sit around my house and wear the same clothes every day and change my underwear every 3 or 4 days.

What do you think?
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