At what limit...

SpiderMnkE · #1 08-30-2004, 12:05 PM

do you guys think someone could live off of these max buyin NL games.

It seems like if the games stay the way they are now... someone could pull a DavidRoss at the Party $50 games.

MasterShakes · #2 08-30-2004, 12:11 PM

I think the question depends almost entirely on what "living" is. If you were to 4-table the NL25 at party, you could easily make $6-$8/100 hands (maybe more), which amounts to an hourly rate of at least $12 an hour, but possibly also $16 an hour. Many people don't make that much at "regular" jobs.

I think an hourly rate of $20-$25 an hour at NL50 at Party, whether full ring or 6-max would be consistently achievable. This amounts to an income of $800-$1000 a week, assuming you "work" a 40-hour week.

It all depends on your personal situation. I could currently live on $15 an hour with no trouble, but then again, I have no family to support, no mortgage, and a minimal car payment.

Wayfare · #3 08-30-2004, 12:15 PM

Career advancement. The first year salary of many jobs is very little, but in most "regular" white collar jobs you have the potential to make a lot if you are good at what you do. For U.S. Federal government I know that bureaucrats can make $120k or more and never have to work more than 40 hours a week. If you are willing to travel you can bump that up another 75k or so. Also with poker playing you get no health insurance and no retirement benefits.

I think most low limit poker players need a real job, but playing poker on the side can certaintly help add spare cash.

SpiderMnkE · #4 08-30-2004, 01:42 PM

Right now I do consulting work for the government. Air Force. It looks like 12/13 grade workers can make 75/80k a year. I don't think that many make 120k or more.

Also... I bill out at $25 and hour, this is my first year and I imagine next year I could make $35 and continue climbing pretty good at what I do.

However... if I could make what I make now playing poker.. instead of doing this trash.. I'd have a much happier life. Even though the ladder would peak much earlier.

I'd get to be at home with my gf... soon to be wife and animals. I could work whenever I want... etc... you know the benefits.

I think by next May I will be able to earn $25 an hour at poker.. and have a steady track record at it.

The only thing that makes it iffy is that we are in the poker boom right now... and I don't want to quit my career to find out that I will be playing against Bruiser and AJo every day to pay the mortgage on the house I'm about to have built.

Although... depending on my level of noobness next year... I am considering doing this consulting part time along with poker. And in that plan I'd get to work from home as well... that would be hot!!!

SpiderMnkE · #5 08-30-2004, 01:47 PM

For me... living means all bills paid... $1000+ in the bank each month.

I don't really have a standard for housing/apt life. As long as the savings stay up and I'm out of debt it doesn't matter to me.

I'd prefer not to live in a dump.. and I don't... but as long as the bank acct grows and I don't owe any crazy debt. (Future mortgage aside) Then I'm alive and ok.

SpiderMnkE · #6 08-30-2004, 01:49 PM

Oh... right now I have to fend for myself on health care and retirement. I'm fine with that. Better than workin for the man... whatever that means... haha

RoyalSampler · #7 08-30-2004, 02:10 PM

I will never quit my day job. Can you imagine a 2 week losing streak when you're paying your mortgage with the winnings? And these streaks happen! I have read a blog or two by the fulltimers. I want poker to remain a profitable past time. Too much would change if it became my sole income source (besides the fact that I have would need to win MUCH MUCH more to pay my bills). But that's just me.

GlemZurg · #8 08-30-2004, 02:18 PM

If a skilled player could make say $12/hour playing NL25 and say the player could make 2BB/hour at a 3/6 limit game. What is the benifit of no-limit over limit or vice versa.

Does the no-limit have a lower standard devation? Or is it just a choice of what's fun?

Justin

SpiderMnkE · #9 08-30-2004, 02:34 PM

[ QUOTE ]
I will never quit my day job. Can you imagine a 2 week losing streak when you're paying your mortgage with the winnings? And these streaks happen! I have read a blog or two by the fulltimers. I want poker to remain a profitable past time. Too much would change if it became my sole income source (besides the fact that I have would need to win MUCH MUCH more to pay my bills). But that's just me.

[/ QUOTE ]

Assuming you were to do this... you would have a massive bankroll.. on top of a large savings account. The inevitable downswings would mean nothing.

You live off of your savings... play poker... and when you profit you feed the savings. Over months your savings will be higher than when it started out.

It isn't like you lose for two weeks and then there is no grocery money.

If I were ever to do this. I would need a minimum of a 10k bankroll.. with about 20k in savings. And this would be just to live off of the party $50 game.

I would also have a total bills responsiblity of about $700 per month. So this would not be scary.

Also for me... I have back up consulting options for the bad weeks.

Haha.. this sounds like I'm considering it. I'm just saying if I were to do it... this is the minimum setup that I would attempt it with. So the downswings would be fine.

Khern · #10 08-30-2004, 05:02 PM

I think the classic response is that you can make more with less risk against _bad_ players. But this is why NL has a tendency to die out... the bad players go broke too quickly. Which brings us to another point, job security. When the Poker craze dies down a year or two from now, finding a good NL might be hard. Until then, I do hope to get some debt paid off.

-John