How much $ per day for you to turn pro? - Page 5

#1 11-30-2005, 01:32 PM

I gave a fairly glib answer before, so a little more detail. Ed Miller's thoughts on the matter are pretty definitive though.

For me, to go pro, I'd want to play no more than 20 hrs a week. I make close to $100k as an engineer, counting health/disability insurance, holidays/vacation pay, etc. So, we're talking I'd need to make about $2k a week at poker, in 20 hours. So, $100/hour.

If I could 2-table 15/30 6-max at 2BB/100, that'd be about $120/hour. I'm nowhere near being that good. I found that personally, running 4 tables is too frantic. Add to that I'm married with kids and the best play time is at night when they're around, I *MUST* be able to handle side distractions while I play, which means fewer tables.

Now, what do I give up?

I have a stable job, good insurance, and paid vacation time. I've completed my Masters recently in software engineering and picked up enough skills to really work myself into an lead/architect position in the next few years. I can pretty safely assume pay raises, while in poker there is no yearly raise. It's also a job that requires you stay current. If I went pro as a poker player, my ability to go back to being an engineer when the poker boom is over in 5 years is limited. I'd have a really tough time convincing employers I was worth the kind of money I'd need.

Instead, my goal is to play part time, wait until the kids get through college, and maybe build up a big enough bankroll and enough skill that I could think about retiring faily young (late 40's) and play poker for a living. This also lets me see if I even care to play in 10 years.

zaxx19 · #2 12-01-2005, 05:14 AM

[ QUOTE ]
For me, to go pro, I'd want to play no more than 20 hrs a week.

[/ QUOTE ]

I dont get it....did like on the 2+2 gang say this in one of their obscure poker essays volume 14 books...because of the pros I know and have talked to as beginners they play-played in excess of 70 hours a week. Not only did they kind of receive a perverse pleasure from this but im sure it does wonders for live reads....

#3 11-30-2005, 02:49 PM

I love all the people who refer to $50k/year as a "decent" paying job and $100k/year as a "good" paying job.

$50k/year is more than most Americans have ever made, and $100k/year is far more than they ever will.

I'm not advocating quitting a good job to grind out $10/hour bonus whoring, but keep in mind that in most of the country $50k/year jobs are very difficult to find.

Often it's a choice betweek poker and $10/hour or less doing some tedious crap job you hate.

One big advantage of poker, of course, is that you can make just as much living someplace with a low cost of living as in a big city. Some of you probably pay more in utility bills than I pay in rent.

aargh57 · #4 12-01-2005, 12:54 AM

$500 a day

Right now I make about 65k a year at my job and I hope to make an additional 25k a year in poker making this 90k a year keeping my job. I am about 13 years away from retirement(at age 45, present age 32) and have a pretty decent medical plan which I have to think would add at least 10k to this. If I were to go pro I would want at least 6 weeks off a year which would mean I'd have to make a 100k in 46 weeks. That brings me to $434/day. However, considering that I would likely get promotions in the next 13 years and the security of my job is nice I bring that up to $500 a day. I doubt I'll ever get good enough to go pro.

berya · #5 12-07-2005, 04:37 PM

"I am about 13 years away from retirement(at age 45, present age 32)"

I'm the same age and make the same money from my job. The only difference is there is no way I can retire in 13 years. Do you have a government job? If not how did you come up with 13 years?

If someone guaranteed me I would have medical insurance for life I would quit my job on the spot right now.

stigmata · #6 12-01-2005, 08:47 AM

$150/hr * 30 hrs/week * 40 weeks/year = $180,000 = £100,000 tax free.

Spend £25,000/year
Save £75,000/year

Completely own a house in 3 years.

This is my plan. I plan to quit my job in 1 years time (when I should be very financially stable). The major gamble is that the games stay as good for the next 4 years. After that it's plain sailing.

Marlow · #7 12-01-2005, 10:14 AM

[ QUOTE ]
$150/hr * 30 hrs/week * 40 weeks/year = $180,000 = £100,000 tax free.

Spend £25,000/year
Save £75,000/year

Completely own a house in 3 years.

This is my plan. I plan to quit my job in 1 years time (when I should be very financially stable). The major gamble is that I'll be commiting tax fraud . After that it's plain sailing.

[/ QUOTE ]

Am I reading this right? Maybe things are different in the UK. I wish you all the luck, bro. But please dear God don't get caught.

stigmata · #8 12-01-2005, 11:27 AM

No tax on gambling winnings here in the UK.

Marlow · #9 12-01-2005, 11:38 AM

[ QUOTE ]
No tax on gambling winnings here in the UK.

[/ QUOTE ]

<seething with jealousy>Wow! That's great. Good for you!</seething with jealousy>

[img]/images/graemlins/grin.gif[/img]

stigmata · #10 12-01-2005, 02:10 PM

[ QUOTE ]
[ QUOTE ]
No tax on gambling winnings here in the UK.

[/ QUOTE ]

<seething with jealousy>Wow! That's great. Good for you!</seething with jealousy>

[img]/images/graemlins/grin.gif[/img]

[/ QUOTE ]

LOL, I love telling this to US poker players and then watching as they slowly seeth inside and then their head explodes in jealousy [img]/images/graemlins/grin.gif[/img]

If it makes you feel any better, there are rumours that the government wants to start taxing poker earnings. This would be a major dent in my "plan". The other dent being that I need to get a [censored] load better at poker in the next year [img]/images/graemlins/wink.gif[/img]