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"Poker Pros" / are they the real slaves? "Poker Pros" / are they the real slaves?

08-26-2015 , 05:27 PM
Quote:
Originally Posted by LektorAJ
I would say that it's between work (employment), work (self-employment non-poker), and work (self-employment poker). I'm an amateur at poker but I teach English and translate on a self-employed basis - it strikes me that some of the things people are saying about "poker" apply to self-employment in general.
There been same disscusion in I.T. forums for a while. People show more tendency to FreeLance(web-designers/programers) So people debating about pros&cons working in small/big company vs working on yourself. Only on this case we have 2 equally same jobs.

For I.T. self employment(poker equivalent)
  • No boss/freedom
  • Risk of not having constant customers(Variation in poker)
  • Also this require some other skills : talking with clients, managing time of projects, etc. (In poker we also need other skills not related to playing the game)

For I.T. in company
  • Higher career opportunities
  • Higher maximum wage, as being self-employed IT worker has capped salary at some point
  • Pay-check with no risk

Although this can hardly be compared to business as it doesnt require any $ bankroll/investments.
"Poker Pros" / are they the real slaves? Quote
08-26-2015 , 09:49 PM
i am a poker pro because 12 to 13 years ago i discovered it, enjoyed it, and found myself to be pretty good at it relative to others at that time and then it snowballed. I won my first tourney i ever entered before I was 18 at a local bar for $410 #sickbrag

I certainly never once thought, "I want to be a poker pro so i don't have to contribute to society."

I am a poker pro because that is the niche I have found, pretty much no other reason. I can work quite hard in a lot of areas in my life(fatherhood, husband, chores, exercising). I wish to be as hard of worker in poker as I was in those other areas, I'd be making quite a bit more money per year.
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08-27-2015 , 12:46 AM
Quote:
Originally Posted by skater3598
There's this saying from Dostoyevsky where he goes, "When God is dead, nothing is permitted", which I think applies quite well here.

Basically when you're religious, you have all of these explicit constraints on your behavior, and your superego, the agency which tells you you must enjoy/find pleasure (and then taunts you when you fail), then permits you to go take some hedonic pleasures in the world.

When the opposite is true, when you're not religious, when you don't have a god, you don't have any explicit constraints, and your supergo does the opposite, it tells you you have to apply these contraints on yourself, restrain yourself, and still find pleasure in doing so.

Same goes for society. When a power structure falls the society imposes it's own limitations on itself internally. Like say your teacher didn't show up for class and there's a lax substitute teacher. The usual taunting or sneaking cell phone usage might be withheld by some force within yourself which tells you that you need to enact some code of morals.

I think it goes for poker too. When you don't have an angry boss who you can appeal to as a power structure, and say, "**** my boss i'm gonna go get wasted after work and **** a stripper", then you end up with an overactive superego which manifests in another way, the exact opposite way except for that the dictate to find pleasure remains, telling you that you must find meaning/impose your own restraints on yourself. In a way it's a lot more insidious than the explicit power structure, or heirarchy, that you find in the workplace.

The struggle to find meaning is real, basically, and in order to let myself off the hook I often wind up in addictive behaviors, oscillating between addiction and seeking meaning. I think the solution is to just find some damn meaning in something, even if it's not perfect, just impose it on myself.

EDIT: just read OP

AGREED
Working in your bedroom is nice way of saying sleeping at the office.
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08-27-2015 , 01:10 AM
Quote:
Originally Posted by rickross55
Anything that cannot create cash without you being there for the transaction is not something that winners do. A poker player is the last thing you would want to do if you wanted to have a life. Those guys would be better off becoming poker affiliates, than poker players.

If you had a son, and you could chose a list of careers, poker would not make the top 1,000. Poker has ruined far more lives than it has improved. Good careers improve more lives than they destroy.

Most people who want to be poker pros have a loser's mindset. Their goal is to avoid contributing to society. You see it when they branch out into other areas. When they go into finance, it is usually some type of hedge fund, which is another loser occupation. They are terrible at that too, as they all want to get rich quick on someone else's hard work.
Yup, man. After working ~10 years in corporate, I left a 6-fig career for poker because I didn't want to contribute to society any more.
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08-27-2015 , 01:41 AM
Quote:
Most people who want to be poker pros have a loser's mindset. Their goal is to avoid contributing to society.
So stupid. If the player is paying taxes, he's contributing. There are tons of players on 2p2 alone that are admitted fish who like gambling and lose regularly. As far as I'm concerned, pros are giving them the entertainment that they want. That is putting smiles on peoples faces and that is also contributing to society.
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08-27-2015 , 01:50 AM
Quote:
Originally Posted by Nork756
There been same disscusion in I.T. forums for a while. People show more tendency to FreeLance(web-designers/programers) So people debating about pros&cons working in small/big company vs working on yourself. Only on this case we have 2 equally same jobs.

For I.T. self employment(poker equivalent)
  • No boss/freedom
  • Risk of not having constant customers(Variation in poker)
  • Also this require some other skills : talking with clients, managing time of projects, etc. (In poker we also need other skills not related to playing the game)

For I.T. in company
  • Higher career opportunities
  • Higher maximum wage, as being self-employed IT worker has capped salary at some point
  • Pay-check with no risk

Although this can hardly be compared to business as it doesnt require any $ bankroll/investments.
That's pretty much right, but it assumes self-employed = contract work,. When you are self-employed in IT that can also include working on your own projects so you're not salary capped in that case and if you get some extra income streams going then it can be lower variance than relying on a single employer.

Plenty of business doesn't really require high investment - often all you need to get started is a computer, a suit and your brain or mouth - things you already have. Certainly when I started my English school I just started with myself as the first teacher and personally delivered 20K leaflets advertising it. I always say capitalism is a bit of a misnomer these days, because so many businesses are not capital-intensive but business-model, idea or quality-intensive
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08-27-2015 , 04:34 AM
Quote:
Originally Posted by .isolated
So stupid. If the player is paying taxes, he's contributing. There are tons of players on 2p2 alone that are admitted fish who like gambling and lose regularly. As far as I'm concerned, pros are giving them the entertainment that they want. That is putting smiles on peoples faces and that is also contributing to society.
Congrats on calling a pretty legit post "stupid" ....then making an incredibly stupid one yourself

"Pros give fish the entertainment they want and put smiles on their faces"

Poker wouldn't exist without pros. Right

Many pros don't pay taxes and freely admit to that ....like its a badge of honour / necessary path of their livelihood.
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08-27-2015 , 09:51 AM
stopping 50k or was it 100k job after ten years. I would continue at least till later and retire to a cheaper country, see numbeo.com for the costs of living. And about doing better at poker, i would be happy to make 5k to 10k per year till i get the permanent residence and possibly nationality. After that aim of mine fails in about two years, i go to school for about two years and move in the uk, possibly a pension in a cheaper country, to get my dream one way or the other, poker having little to do with it, just trying to turn poker that profitable first, being my hobby anyway.
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08-27-2015 , 09:57 AM
Quote:
Originally Posted by lMikro
stopping 50k or was it 100k job after ten years. I would continue at least till later and retire to a cheaper country, see numbeo.com for the costs of living. And about doing better at poker, i would be happy to make 5k to 10k per year till i get the permanent residence and possibly nationality. After that aim of mine fails in about two years, i go to school for about two years and move in the uk, possibly a pension in a cheaper country, to get my dream one way or the other, poker having little to do with it, just trying to turn poker that profitable first, being my hobby anyway.
I read this three times, and I still have little idea what you're talking about.
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08-27-2015 , 03:43 PM
Quote:
Originally Posted by Land O Lakes
I read this three times, and I still have little idea what you're talking about.
Just random words.
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08-27-2015 , 04:45 PM
Guessing what he mean to say in English wasn't close to that lol


Just wanted to say cheers to the charming well adjusted pro on here who didn't like my posts and sent me this PM. Would put a large amount of money this troll belongs to 'isolated, JudgeHoldem or p2 dog p2 (with ap0logies to those two it wasn't)


Quote:
Originally Posted by PRO POKER PLAYER "cabbage66"
didou wash the smell of your moms p. ussy of your d**k yet? you worthless peice of s hit go kill yourself .



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08-27-2015 , 04:56 PM
While that doesn't look good, we are not all evil non tax paying heathens
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08-27-2015 , 05:04 PM
Quote:
Originally Posted by gdsfather
While that doesn't look good, we are not all evil non tax paying heathens
Sorry you are right and I almost put a disclaimer in that then forgot, I don't hate all pros. I'm a big fan of borg23's posts and others like him. Some professionals have a clue about how the majority have destroyed online poker and their behaviour in general.

Its a math thing though, would put the doucebag meter for pro poker players at around 90-95%. Like most areas of life, you can tell who they are by the way they communicate.
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08-27-2015 , 05:04 PM
Quote:
Originally Posted by Amadan
Just random words.
Actually after reading it a few times I think they are agreeing with you Amadan. It looks like they are saying that they wouldn't leave a 50k or 100K job and would stay until they retire. They would be happy to make 5K or 10K a year playing poker until they get something like citizenship somewhere (maybe the UK?). They think they will fail in 2 years and then go to school for 2 years (maybe they mean at the same time?) and then move to the UK to work until they can draw a pension and move to a country with a low cost of living. ... I think that's what they are saying.

@Amadan

Do you know someone who wants to be a poker pro? I would really appreciate a solid yes or no just so I stop wondering that every time I open this thread.

Last edited by PsyLens; 08-27-2015 at 05:10 PM. Reason: typo
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08-27-2015 , 05:12 PM
Quote:
Originally Posted by bumpnrun
Guessing what he mean to say in English wasn't close to that lol


Just wanted to say cheers to the charming well adjusted pro on here who didn't like my posts and sent me this PM. Would put a large amount of money this troll belongs to 'isolated, JudgeHoldem or p2 dog p2 (with ap0logies to those two it wasn't)
my troll game aint that strong bro
"Poker Pros" / are they the real slaves? Quote
08-27-2015 , 08:57 PM
Quote:
Originally Posted by .isolated
So stupid. If the player is paying taxes, he's contributing. There are tons of players on 2p2 alone that are admitted fish who like gambling and lose regularly. As far as I'm concerned, pros are giving them the entertainment that they want. That is putting smiles on peoples faces and that is also contributing to society.
We've been over this countless times before. Paying taxes doesn't contribute to society, they are transfer payments. And you'd be paying them either way, regardless of how you make your income (actually, you'll be much more likely to pay them if your income isn't from pro poker playing, because frankly many poker players are tax cheats). Mutually beneficial transactions without externalities contribute to society.

As for poker pros putting smiles on fish? Are you serious? I think if you ask the fish, they would be much happier playing poker without you being there. Fish smile more when they lose less often. Players like Negreanu or Hellmuth provide entertainment; anonymous regs destroy it.
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08-28-2015 , 01:24 AM
Quote:
Originally Posted by Dima2000123
We've been over this countless times before. Paying taxes doesn't contribute to society, they are transfer payments. And you'd be paying them either way, regardless of how you make your income (actually, you'll be much more likely to pay them if your income isn't from pro poker playing, because frankly many poker players are tax cheats). Mutually beneficial transactions without externalities contribute to society.

As for poker pros putting smiles on fish? Are you serious? I think if you ask the fish, they would be much happier playing poker without you being there. Fish smile more when they lose less often. Players like Negreanu or Hellmuth provide entertainment; anonymous regs destroy it.
Lol. I have played with many of these people you say provide entertainment, and while some do, there are some that are the biggest detestable pieces of **** I've ever played with and the rich recs do NOT enjoy their company.

As for contributing to society, if you're looking for only your job to do that, then you're doing it wrong.
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08-28-2015 , 02:58 AM
Quote:
Originally Posted by Land O Lakes
Lol. I have played with many of these people you say provide entertainment, and while some do, there are some that are the biggest detestable pieces of **** I've ever played with and the rich recs do NOT enjoy their company.
Vast truths spoken here.
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08-28-2015 , 09:55 AM
This is pretty much a tangent, but it is germane to the discussion of playing poker as a profession v. 'working' at a traditional job.

I would be interested in seeing a Venn diagram that shows us the subset in percentages of people who meet all of the following:

1. play poker for a living
2. are good enough at it to make a profit
3. have the skill needed make enough of a profit to consider it a 'nice' living. Maybe otherwise defined as an amount of money that is roughly equal to the potential 'real world' income likely
4. have the skill needed to make enough money that when you factor in the vacation, health insurance benefits, paid sick time, and other benefits, they still beat the 'real world'
5. who practice proper bankroll management so that life as a pro is sustainable
6. who are also disciplined enough to pay taxes such that tax-deferred investmetn/retirement vehicles are taken advantage of so that they have something to retire on
7. who won't ruin all of the above by blasting off money in the pits or lavish beyond-means lifestyle choices

My guess is that this subset of all poker 'pros' would be excruciatingly tiny, thereby maybe supporting the idea that choosing to be a poker pro as a career is really only a good idea for _very_ few people.

NOTE: all of that said, _plenty_ of people screw around doing all sorts of stuff for many years when they're done with schooling, and then go on a little later in adulthood to move into well-paid, satisfying careers. Hell, I didn't do anything even remotely useful or lucrative until I was into my 30's. There are plenty of young folks who make much more playing cards than I made [insert-lame-job-here] during that same time, then move on to a career with more stability, structure, and sustainability (given the above list of pitfalls). To those folks I say 'go for it.' But for people who are really meaning to have a career as a poker player, there is much to consider beyond being good enough to win.
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08-28-2015 , 10:44 AM
^ I meet all the criteria above. To give a better idea where I come from, this response below was a post I made a few years ago (on my post 2+2 hack account) back when someone suggested that making 20/hr at poker would be fine long term. Might be of some use to people here if they're wondering briefly, what the mindset is (or needs to be) in order to give the best chances at succeeding in meeting this criteria.


Quote:
Well, you're missing a huge part of the picture.

First off, I played full-time online and then switched to live play exclusively after Black Friday. I've been playing for a living for almost 11 years now.

If you're a kid making $20 living with your parents, then fine; great job (poker) you've got there. $20/hr doing poker, supporting a family (or even just yourself) is not going to cut it long-term. If one expects to succeed long-term at this game, you'd better have your **** together before you make the decision to play for a living. I realize there's a bunch of kids here that can't comprehend thinking 10 years or more down the road, but bear with me.

I pay $400 a month in health insurance premiums for just myself alone. I have no health issues or preexisting conditions. A friend of mine that's around 10 years older than me (self-employed in a different occupation) pays $1,000 a month in premiums with a $5,000 deductible and a $10,000 out-of-pocket max (once coinsurance kicks in) per calendar year. This is a catastrophic health insurance plan that he pays $12,000 a year for (this type of insurance plan for a 20-year-old would cost about $35 a month, to put it into perspective).

I pay 100% of the 15.3% medicare and social security taxes (AKA: self-employment tax). This is a tax, if you have a legit job, that is split with your employer (i.e., you pay 7.65% and your employer pays the other 7.65%).

No one matches IRA contributions, no one pays 75-80% of health insurance premiums, no one splits tax liabilities, no one pays for sick days, and you don't have the option of collecting unemployment benefits during long downswings. As a professional player, you are both the employee and the business owner. As a business owner, you must pick up the slack in those areas and be able to compensate yourself accordingly.

At $20/hr, you can't realistically expect to pay yourself the benefits you would get from a job and pay your bills, invest, etc. The reason why is because money is the tool of your trade, so you need a large fund of idle cash (bankroll + living expenses) doing next to nothing. It's hard to justify that on a $20/hr expectation because you are not guaranteed that $20 each hour like you are at a regular job. You can't compare a $20/hr job to running a business (you need business capital) that earns an average of $20/hr.

This isn't like a live "paycheck-to-paycheck" job even with months of living expenses in reserve. I mean, doing that, and 10 years down the road you still are in the same place. That's fine when you're 20, as most everyone else at that age is bagging groceries, but you'll be well behind the norm in 10+ years. What about 20, 30 or 40 years? You still want to be grinding out an existence?

That's fine if your only option has always been McDonald's, but that's just more of a testament to the fact that you should have obtained an education/trade at some point. Even after having been out of my previous field for several years, I received a phone call from an associate I had worked with in the past to help expand a business of his with an attractive offer. Had that happened right after Stars pulled out, I may have actually considered it. As is, in my new medium, exclusive live play, the time:compensation ratio still favors poker easily.

Once you are set up properly to play for a living, the next is money management. Not bankroll management; money management. Everyone knows x bets/buy-ins is suitable for a player with such and such win rate with a this and that stdv. Instead, the problem I see in card rooms is guys spending their winnings and not considering how much they are actually earning at the tables.

Managing upswings is actually more difficult for most pros than managing downswings. Anyone can see that their bottom line is getting narrower when they are continually getting their nuts kicked in and something has to change (e.g., lifestyle, stakes, etc.), but when you're crushing the world and the money is easy, many people spend, spend, spend and find themselves behind the 8-ball when regression toward the mean kicks in. However, with the right information and proper mindset, this obstacle is very easily avoided.

[This next part is basically a copy/paste of a post I made a few months ago about managing winnings as a professional player, since there's probably some interest in that]

<post>

I run it like a business, because it is a business - it's a sole-proprietor business. I pay myself a wage despite my results at the tables. I pay myself what my overall expectation (EV) is in a game.

Using arbitrary figures, let's say you play $1/$2 NL online and your established win rate is 6bb/100. This means that you earn $12 every 100 hands, or $12 / 100 = $0.12 per hand.

Your EV in the game is $0.12 per hand. If you played a 1247 hand session, then you earned, in EV, $149.64. It doesn't matter if you won $1500 or lost $1500 - those are deviations from the mean and have little to do with anything and nothing to do with your actual worth at the table.

This is why broke winning professional players go broke. They spend lavishly during upswings and come up short during downswings because they never actually determined how much they truly are earning (long-term) at the tables and compensate themselves accordingly.

So what you do is decide what percentage of total expected profits (EV) will go toward business capital (depends on a few variables). Say you want to cut 20% to the business and keep 80% of your EV (wage).

Now that 12 cents per hand becomes 9.6 cents per hand; the other 2.4 cents go toward expanding the business (i.e., larger capital = better investment opportunities).

Let's say you played 8274 hands in a week:

8274 * $0.096 = $794.30 to you for your time at the tables
8274 * $0.024 = $198.58 to the business for financing your play (even though it is you staking yourself)

Keep separate business and personal accounts. The business account is not for you to touch and buy a $5,000 Rolex, for example. If you can't pay for that watch out of your own personal bank account, then put more hours in at the tables (see the Full Tilt debacle for what can happen when you commingle business capital with personal finances).

I suffered the longest break-even in my life a few years ago. I had 4 million hands in the bag before that and never had anything close to that stretch nor thought it was even possible. However, I was still paying myself my wage for my time at the tables - for months.

Health insurance premiums, IRA's, etc. disbursements must still be paid out - just like it is at any other corporation that's suffering a downtrend - you must pay your workers for their time. Fortunately, you, as a responsible business owner, didn't overspend when times were good and can afford to keep greasing the wheels when times are tough.

As you can see, if you pay your business 20% (or some other suitable amount) of your profits and never pay yourself above your EV, then you can weather the swings when the time comes and continually expand the business at the same time.

</post>


In regards to the question posed in the subject title, no, I don't regret my decision, but I was very prepared. It wasn't a decision I made lightly. I had ten years prior poker experience before pulling the trigger on doing it full-time, so I knew, more or less, what to expect.
&quot;Poker Pros&quot; / are they the real slaves? Quote
08-28-2015 , 03:03 PM
Slavery was never abolished, it was only extended to include all the colors.
&quot;Poker Pros&quot; / are they the real slaves? Quote
08-28-2015 , 04:35 PM
I don't mind my body being a slave, so long as my mind is the master.

Applies business and poker
&quot;Poker Pros&quot; / are they the real slaves? Quote
08-28-2015 , 10:55 PM
And hookers. Being one that isn't a train wreck that is
&quot;Poker Pros&quot; / are they the real slaves? Quote
08-29-2015 , 03:57 PM
Quote:
Originally Posted by Land O Lakes
Lol. I have played with many of these people you say provide entertainment, and while some do, there are some that are the biggest detestable pieces of **** I've ever played with and the rich recs do NOT enjoy their company.
I didn't mean in person, I thought that should've been obvious. The concept of poker pros providing entertainment by their mere presence in games they don't start is laughable beyond words. I meant that people like DN are TV personalities and not just poker players, and thus help create a form of entertainment known as poker TV.
Quote:
As for contributing to society, if you're looking for only your job to do that, then you're doing it wrong.
The term "contribute to society" is really economic in nature, and not "I volunteer to change old people's diapers" thing. It really boils down to "are you earning your keep, or are you mooching off others".

Everything material in your life, and most of the services you're enjoying, are a result of someone else performing their job. When you make your money to buy these material goods and services, are you getting that money from creating these material goods and services for someone else, or are you doing it purely by making someone else get less of these goods and services? That's really what is meant by "contribute to society".
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08-29-2015 , 04:07 PM
Are poker players slaves? Hell no, I work a slave job. Work to the point of exhaustion everyday and I can't afford food or rent. Slowly drifting into debt with zero opportunity for escape, 80k a year clicking buttons sounds like Nirvana. I get no days off ever and can't afford breakfast, you want to talk about slavery?

Try working until your feet are bleeding and someone gives you **** the instant you stop working, that's ****ing slavery.
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