Young Hi-Limit Players?

[Ulysses]

Would this kid pay any taxes?

[Ulysses]

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I think the list of players who could turn 500 into 2M in 6 years is a very short one.

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I so completely agree.

[Ulysses]

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If an extremely smart and savvy kid got his start in poker at the age of say 18, I see no reason he/she couldn't have earned over $2M by the age of 24 playing fulltime, even if they started with only $500.

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I'm curious. How exactly do you see the kid doing this, on a year-by-year basis? Please elaborate.

[Tosh]

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Would this kid pay any taxes?

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Not in the UK. [img]/images/graemlins/laugh.gif[/img]

[GuyOnTilt]

Hey Uly,

I agree that only a very small percentile of kids would be capable of this, but I wouldn't be surprised if I heard of or knew someone who did. At all.

Year by year? Okay. Say they start with $500 at 1/2 tables and after 12 months of first learning hold'em they had earned $100k and moved up to 30/60 online with a $50k BR. Not unreasonable. Then 12 months later they had earned another $300k and moved up to 100/200 online with a 200k BR. Again, not a stretch to imagine. Then another year (3 total now) and another $600k at 100/200 (.85 BB/hr 3-tabling for 100 hr/mth). Then let's say for the next 3 years they don't move up in limits or hourly rate at all and continue to earn $600k/yr playing 1/2. That would be 2.8M in earnings after only 6 years of first learning poker.

GoT

[turnipmonster]

the problem is that there is no guarantee someone who can beat a 1/2 game can beat a 100/200. many, many players are going to be able to beat a 15/30 soundly and will still get destroyed playing 100/200.

maybe I am extrapolating my experience from big bet a bit. there are legions of players who can tear up the short stacked party games, but would get crushed playing a deep stack in the 25-50 or many live games 5-10 and up.

--turnipmonster

[adam61]

They made $99,500 in first 12 months as they were learning the game? Seems really unlikely.

[GuyOnTilt]

the problem is that there is no guarantee someone who can beat a 1/2 game can beat a 100/200. many, many players are going to be able to beat a 15/30 soundly and will still get destroyed playing 100/200.

I couldn't beat the 3/6 game after 2 weeks of playing, but 9 months later I could kill the 15. If the kid was smart enough and studied he could beat the 1/2 after 3 years of fulltime play.

GoT

[GuyOnTilt]

They made $99,500 in first 12 months as they were learning the game? Seems really unlikely.

After 12 months of my first hold'em hand I had earned over $95k, starting with $200. And I'm by no means a genius.

GoT

[young nut]

You don't necessarily have to make a million + dollars to be a pro. Negreanu just recently surpassed the million dollar in winnings mark. I don't know if many of those young players have achieved this, although they may be playing in the big money payout tournies.