Quote:
Originally Posted by callipygian
4. Poker winnings are worth less than equivalent salary. It's called Certainty Equivalent, or the amount of guaranteed money you'd be equally happy in taking in lieu of gambling for more. Mathemativally, CE is about half of EV.
You probably want 5/10 NL or 40/80 LHE for any sort of middle class living, with the option of a 10/20 NL or 100/200-ish LHE game consistently running in order to be comeptitive with a typical college graduate desk job.
This is open to different opinions. I'd never trade in my poker life for a college graduate desk job of even 150% of what I make. 200% is about where I'd have to start thinking about it.
Many of my friends have those jobs and make more than me. I have so much more flexibility in day to day life. To me it's worth it. I go to sleep when I want, I wake up when I want, I work when I want, I take a day off when I want, I take a month off when I want, I go travelling for a year when I want. I could go on and on. I shave when I want and wear my hair how I want. I do recreational drugs when I want. I travel to whatever climate I want to be in, and I travel about half the year just because I like to, and I can play either online poker or live poker just about anywhere and I like to play both and mix it up. I have no boss. I have no jerk clients. When the powder is good I snowboard. When the sun is out I hike in the mountains or go to the beach. I'm not stuck working when I'd rather be doing something else, ever. I never know what tomorrow will bring and I like it that way. And while I may average X $ per month, there is always a chance any week that I'll finally bink a big MTT (I never have) or a JP (I never have) and all of sudden have a years money or more in one day.
CE vs EV is only part of the equation.
Last edited by Carnivore; 03-26-2014 at 06:28 AM.