Who here is a pro

[Matt Flynn]

david's analysis leaves out the barrier to entry issue in the job market. lots of smart people don't do well in school or don't go to colleges that get them the plum jobs. so many who are capable don't get the chance to make it big in the professional world unless they are resourceful and enterpreneurial, which is a different set of talents and skills than are required for poker.

for the noncredentialed, poker is an excellent opportunity.

matt

[Reber]

Just spent some time reading through this very intriguing thread. Many topics have been touched on but there is one that has not been---and it is critical.

If you are a playing pro and you stop playing your income ceases. There are lots of reasons why you might stop playing. Here are two: you are ill or you are old. The former was noted by some posters who said that they have health insurance through a spouse --- although, of course, having insurance to cover the medical bills is only part of the problem. The latter has, surprisngly, not been touched on by anyone. No one seems to realize that you need a pension plan. If you're a poker pro no one is putting anything into FICA so you can forget about Social Security (we may have to forget about it anyway, but that is another topic for another forum) and I haven't seen any discussions about how much you need to salt away in a 401K plan.

We (you) are all going to get old. If you're in your 20's or 30's it is easy to take that "we'll jump off that bridge when we come to it" stance but, trust me, it is going to happen. If you turn pro you better be ready to deal with these issues.

And, oh yeah, there's taxes.....

FWIW, I'm a University Professor who supplements his income nicely from poker. I also have health care, a very solid pension and pay my taxes.....

Arthur

[Matt Flynn]

you have a pension plan and health care probably because the government foots the bill. very few in industry get both as a straight benefit.

it always amazes me the lengths to which academics will go to keep themselves from getting rich. starting with 401K's and giving their best patentable ideas to the universities for relatively low salaries.

matt

[chezlaw]

[ QUOTE ]
You can live in London on $2,000 a month US? Where? In an alley? London is now considered to be the most expensive city in Europe and costs more than NY to live.


[/ QUOTE ]

No I struggle to live on that a week [img]/images/graemlins/smile.gif[/img]

The $2000 is just how much I would be better off if I didn't waste time commuting. I'd have to play poker a lot more that that to survive.

[Ulysses]

[ QUOTE ]
Isn't the legalization of Hold-em in California a good model for the future of the internet.

[/ QUOTE ]

I hope so. I played limit cardroom poker twice in the last month after not playing live limit poker for about a year. The games were better than ever.

[offTopic]

[ QUOTE ]

it always amazes me the lengths to which academics will go to keep themselves from getting rich. starting with 401K's and giving their best patentable ideas to the universities for relatively low salaries.


[/ QUOTE ]

I'm not an academician, nor do I play one on tv, but I can think of a couple of reasons:
- tenure
- 3 months off/year
- you get to see college babes all the time. You get older, they don't. [img]/images/graemlins/cool.gif[/img]

[SA125]

David makes a good point about being young, smart and right out of college having a chance to succeed. There's another reason to try it at this stage. Because you can.

I had my son at 22 and daughter at 25. The good news is that 21 yrs later I have more freedom, financially and socially, than most of my friends. The bad is news is that, when I was changing diapers 21 yrs ago, I missed the trips to Rio de Janeiro and all those beautiful young girls in thongs. And St.Marten. And Vegas. Now women on the beach my age wear shorts to hold at least a little of their ample asses out of public view.

If you're young and have the freedom and opportunity to try and be a poker pro, do it. And have as much fun as you can doing it. Time is on your side.

[Mighty Fly]

I really like this post - so much I'd like to give some of my experience.

I've played semi-pro for over a year and love the game. I think any decision to go pro is only ALL GOOD! Go for it! If you've covered your back $$$, what is there really to lose? Ego, confidence, ??? What?

For years I wanted to start my own business but never have the stuff to actually get out there and do it. So, I slugged it out in the computer world for 20 years until the bottom fell out 3 years ago. I was laid off 3x's in one year (having never been unemployed).

With nothing to lose, I decided to start my own company and guess what, it took off! I've been self-employeed for over two years now and love it. Being self-employed has afforded me 20+ hours a week playing poker. I am a blessed man.

We live in a country were we can make this decision - whether to quit a job and play poker for a living. I ask you - what REALLY are you risking? If you are a capable, employable human living in the USA, go for it! If you fail, go back to work knowing you gave it a shot.

Thanks for the great post!

Mighty Fly

[SinCityGuy]

[ QUOTE ]
Poker won't be different than blackjack. I don't think most of us expect blackjack to continue growing forever either.

[/ QUOTE ]

That's what they've been saying for the past 20 years, but the blackjack revenues go up every year. The ploppies are still playing in spite of the continuous shuffle machines and the fake 6:5 shortpay single-deck.

[banditdad]

[ QUOTE ]
...or so I have heard.

Wow, such long a thread, so little talk about the rest of the world. Vehn, your replies tangents one hugely overlooked fact of the financial side of poker: 50k is not peanuts everywhere and for everyone.

I understand that having north american upper middle class standards makes the potential income from poker pretty unattractive. But FFS guys, take a look around. Do you have any idea how much those who are NOT american, college educated, urban upper middle class makes a year?

I have a double university degree and the salary in my profession is a bl**dy joke compared to my american counterpart. I live in a west european country so I still make an ok living (or so I'd like to belive).

Just think about the rest of the world for a while. Internet poker is ATM an american/west european matter. Still, for me, the numbers that has been thrown around in this thread are mind boggling. What will happen when Internet gets more widespread in the former eastern block or in the poorer east asian countries? I expect to see a lot of non-US doctors, lawyers and university teachers on Party .5/1 in the future...

[/ QUOTE ]

These are excellent points. Especially about Eastern Europe discovering poker. It may or may not happen, one of those things where you just have to wait and see.

BTW, I looked in the encyclopedia and the US actually is the center of the universe.