Should You Quit Your Day Job? — Part II

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"But the shares took a pounding on Tuesday, dropping to 105 pence after the company said new poker players were spending less and losing interest more quickly than the hard core of players who helped boost its shares since June."

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All it's going to take is one big name poker site to go busted and the party is over. Ask the employees of Enron if they thought their money and future was secure. If anyone believes their bankroll is safe in one of these accounts is dreaming. Furthermore, rakeback is no sure thing for the long term, shills won't be in high demand, and bonuses will become harder to capture. Result? It will become more expensive to play.
It won't take much before that super-live 15-30 game at the Wynn or the Bellagio 30-60 looks more appetizing than mutlitabling 30 games of 1-2.

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50k a year before taxes. How fast are you planning to build your bankroll in order to move up to higher limits? 50k a year might pay bills, but your bankroll will never grow! Unless you live at your mom's house.

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If you can't live on 50K, this may not be the profession for you. One particular fatal flaw of poker professionals, especially many of the brokesters in "Poker Bustouts," is that they moved into higher games instead of residing in the "comforts of their own home," so to speak.

There might be only 5 players in the world who plays as high as 40-80 who has made $100,000 per year over the past ten years. The higher you play, the less chance you have of succeeding. If you are one of the fortunates who makes 50K a year, stay there, because the risks you would have to take to make 100K will eventually destroy you. You can survive playing poker, not retire. If you can survive, this is the greatest life ever. Don't forget....

"Play for today because you might not have that bankroll tomorrow." -Mike "the Bum" Tullis