For those who do this for a living...

pokerjunky · #1 03-08-2005, 10:09 PM

I've been toying with the thought of quitting my $18 an hour job to play poker full time. Right now I'm averaging close to 3BB/100 hands playing four 2/4 tables, so I figure this averages out to about $24 an hour if each table averages 50 hands per hour.

Anyway, I just have a few quetions for those who earn a living playing poker:

How many hands did you have logged in before you quit your job?

How do you go about filing your taxes?

How long have you been doing it(successfully)?

Thanks!

Nick B. · #2 03-08-2005, 10:15 PM

you need a lot bigger overlay than $6 more an hour to quit your job. if you absolutely must quit your job, wait until you move up in limits and are averaging $75-100 an hour.

sthief09 · #3 03-08-2005, 10:17 PM

how many hands are you averaging 3 bb/100 over. not many people can do that. it's possible you've been running good

jzpiano14 · #4 03-08-2005, 10:28 PM

hijack warning!!

I'm thinking bout doing the same thing but only for a summer job. I only make about 11 an hour-taxes-gas-commute time. I drive an hour to work each way in rush hour and I am considering playing poker instead. Do you think this is doable at 3/6 with a rakeback of 20% or at 2/4? I work 40-50 hours a week there if that helps. Anybody got any advice?

cnfuzzd · #5 03-08-2005, 10:33 PM

I was in a virtually dead-end job, considering playing poker, and some smart old dude who used to be a social worker put it like this:

"you are young. you are only young once. you have no obligations, and no real responsibilities. Do what you want. Who cares if you regret it. By the time it comes to pay the consequences, you will be old and not able to do anything fun anyway."

i was sold.

peace

john nickle

EStreet20 · #6 03-08-2005, 10:34 PM

This point was already touched on about needing a much bigger overlay than 6 bucks an hour but one thing you have to consider is insurance. Do you get benefits from your job because if not paying for your own health alone (I won't even get into dental/vision etc plans) will destroy that 6 dollar an hour increase in pay. I have a friend who owns a small business (consists of him and his brother and a few part timers) and he's told me that paying for his insurance for one year was a killer, so he's been going without health insurance for basically his whole adult life which really blows. Either way, good luck with whatever decision you make.

ZBTHorton · #7 03-08-2005, 10:45 PM

I think the key here is how many hands have you played?

pokerjunky · #8 03-08-2005, 10:45 PM

[ QUOTE ]
you need a lot bigger overlay than $6 more an hour to quit your job. if you absolutely must quit your job, wait until you move up in limits and are averaging $75-100 an hour.

[/ QUOTE ]

What if I really hate my job?

pokerjunky · #9 03-08-2005, 10:50 PM

[ QUOTE ]
I think the key here is how many hands have you played?

[/ QUOTE ]

20,000 logged in PT.

Seether · #10 03-08-2005, 11:03 PM

I have been playing for my only income for the past 7 months, and at the time I decide to "go pro" after about the same amount of hands, but winning in 3/6.

Let me tell you that it was very difficult adjusting to poker being the only source of income. Its rough when you have a 200bb downswing right after paying the rent and bills. Im not going to tell you not to do it, but I think you should really think it through. Make sure you do not tilt, it is not an option when your playing for a living.