Going Pro in Atlantic City

[junkmail3]

[ QUOTE ]


Go To VEGAS and date a stripper...

[/ QUOTE ]

And get herpes.

[Richard K.]

M. Malmuth has posted that Johnny Moss sucked. What gives? Also, in Gambling for a Living DS and MM clearly indicate that poker is the surest form of gambling income. And, that the income can be substantial. Was that work a load?

[r2p]

That will use up the bankroll at a good clip.

[2planka]

Honestly, the OP is in for a bitter pill of reality.

No health insurance, no verifiable income (good luck getting a mortgage or a car loan or even a silly credit card), no steady paycheck (it's gonna hurt when Joe Tourist catches a one outer and takes your rent payment). No sick days, no paid vacations, no retirement plan, no paycheck (ever been mugged? ain't fun).

This sounds overly negative, but take a long view. Reread Al's first chapter: Why do you play poker?

Moreover, "Going pro in AC" is pretty darn far from a plan. It's as if you're thinking of AC as the land of milk and honey. If that's your idea, boy are you in for a surprise.

What bankroll do you think you'll need?
What do you think your expenses will be?
How much of a rainy day fund do you expect you'll need?
How much "float" does this allow you?
How responsible are you with money?
How cozy is it living with your folks, playing online, with no responsibilities? How would moving to an unknown city affect your lifestyle?
What are your goals/expectations? Are they realistic?

At the very least, why on earth would you choose AC over LA or Vegas?

Life ain't like the movies. I suggest you devise a clearly reasoned plan before taking off to "turn pro" on a whim.

The soap box is now vacant.

[STLantny]

IMO, if you are a winning player, then turning pro is 99% money management. I personally believe that, you should have 3 bankrolls when turning pro, maybe 4.
1. Bankroll 1- your playing bankroll over 300BB, at the least.

2. Life bankroll- enough money to live for a year, including food, gas, bill (ALL BILLS)- etc (leave this untouched for as long as possible, make all payments out of your hourly wage)

3. Retirement roll- Put a couple thousand into an ira every year, its not that much money, and you will have money to retire on

4. Other investments/fun money- put a hundred a week into this, try not to touch it for your first 6 months, use it if you see a good oppurtunity to make some real money, or just want a new 60in LCD.

The key is money management, and just because you had a 70BB night, doesnt mean you can go out an spend it. IE if you are making 2bb/hour and played 5 hours, you will end up losing 60BB back...sooner or later......