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Winrates, bankrolls, and finances Winrates, bankrolls, and finances
View Poll Results: What is your Win Rate in terms of BB per Housr
Less than 0 (losing)
5 6.41%
0-2.5
0 0%
2.5-5
6 7.69%
5-7.5
8 10.26%
7.5-10
15 19.23%
10+
26 33.33%
Not enough sample size/I don't know
18 23.08%

03-08-2013 , 11:34 AM
I don't know much, as I myself am fairly new, but I would say never quit your day job. I hear a lot around here that you need 1000 hours just to know something close to your actual $$/hr. That's a lot of hours, and it would require about 20 hours/week for one year (assuming two weeks off) just to know if you truly are a winner.

Also, keep in mind that while poker is fun now, there is a whole different stress level that comes with playing for a living. 8-9 hour sessions a day, losing swings, and emotionally being tied to results because that session could determine how you eat that night. And then you gotta do it the next day. And the next day.

And right now, you have a solid, good paying job. And to advance, you just have to go to grad school. If you're young, and feel like you could get a job after a 2 or 3 year try out playing live poker professionally, do it (only if the job pays just slightly less; don't take a drastic pay cut). If a family or anyone relies on you, don't do it. Or, if you're in your 50s or so, just say **** it and play for a living. Either way, good luck, and I hope this helps.
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03-08-2013 , 11:36 AM
Well, I finally have booked my first ever 2 winning sessions in live poker in a row. First for $60 in 2.5 hours (it was nearing 3am and I couldn't stay awake) and second one for a hearty $1. Ironically, I won more than that playing penny slots while waiting for my seat that night.
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03-08-2013 , 11:48 AM
Quote:
Originally Posted by ohsnapzbrah
I don't know much, as I myself am fairly new, but I would say never quit your day job. I hear a lot around here that you need 1000 hours just to know something close to your actual $$/hr. That's a lot of hours, and it would require about 20 hours/week for one year (assuming two weeks off) just to know if you truly are a winner.

Also, keep in mind that while poker is fun now, there is a whole different stress level that comes with playing for a living. 8-9 hour sessions a day, losing swings, and emotionally being tied to results because that session could determine how you eat that night. And then you gotta do it the next day. And the next day.

And right now, you have a solid, good paying job. And to advance, you just have to go to grad school. If you're young, and feel like you could get a job after a 2 or 3 year try out playing live poker professionally, do it (only if the job pays just slightly less; don't take a drastic pay cut). If a family or anyone relies on you, don't do it. Or, if you're in your 50s or so, just say **** it and play for a living. Either way, good luck, and I hope this helps.
Thanks for the reply! I left out a really important detail: I played for a living during college and for 2 years after college from like 2003-2007 and then after I got a job in 2007 I still played part time online for a while. So I am a historically winning player but that was also during the peak where anyone could win online.

No family, and the Mrs. fully endorses me to try out poker full time since she knows my job isn't great and doesn't have much of a future.
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03-08-2013 , 11:54 AM
Quote:
Originally Posted by BookToMarket
Thanks for the reply! I left out a really important detail: I played for a living during college and for 2 years after college from like 2003-2007 and then after I got a job in 2007 I still played part time online for a while. So I am a historically winning player but that was also during the peak where anyone could win online.

No family, and the Mrs. fully endorses me to try out poker full time since she knows my job isn't great and doesn't have much of a future.
Neither is poker.

You do realize that, right?
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03-08-2013 , 12:22 PM
Quote:
Originally Posted by BookToMarket
Yeah I'm in a similar boat. I only play on weekends, averaging 77/hr over 151 hours of 2/5 play. Running good for sure. Split among the two casinos I go to, I have 90 hours at Casino A averaging 120/hr and 51 at Casino B other averaging 3/hr. So...yeah. Super tiny sample, of course, but the players at A are far worse than B as well so A will be my home turf for a while.

What do most in here consider a decent sample size for live play? 1,000 hours? Less? I have a couple of considerations going on.

1) When to attempt 5/10

2) At what point do I consider quitting my day job to play live poker full time? This is clearly a complex question where everyone is different. Just trying to see how you guys gauge this scenario. I really enjoy playing poker which not all winning players do. My job kind of sucks although it's easy and it pays decently, but I don't have any future in my position without going to grad school or pursuing difficult designations.

Give me some generalities if you'd like. Move to 5/10 if still beating 2/5 for X/hr over 300hrs? Quit my job and play poker if I'm making 2X(dayjob) over 500 hours? Stuff like that. I appreciate it a lot!

P.S. Perhaps this post is too personal and I should have started my own thread but i'm new to LLSNL and don't really know the etiquette around here.
It is all relative, if the money doesn't mean anything to you then take 3k and go play 5T but if you find yourself making routine mistakes at 2/5 the problems are going to be exacerbated at 5T and your opponents will make smaller mistakes so your skill gap will be shortened on both ends.

Play 1000 hours at 2/5 and see how you feel. If you are working 40 hours a week then work 40 at your job, 20 playing poker and see how you feel.
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03-08-2013 , 12:25 PM
Quote:
Originally Posted by Richard Parker
Neither is poker.

You do realize that, right?
For you that may be the case. If poker pays 200k/yr right now and your current job pays 50k with an avg pay increase of 4% then we could argue all day about which one has a future.
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03-08-2013 , 12:26 PM
Quote:
Originally Posted by BookToMarket
For you that may be the case. If poker pays 200k/yr right now and your current job pays 50k with an avg pay increase of 4% then we could argue all day about which one has a future.
Clearly you have never played serious live poker.

Ya, good luck...to your wife.
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03-08-2013 , 12:31 PM
Quote:
Originally Posted by BookToMarket
For you that may be the case. If poker pays 200k/yr right now and your current job pays 50k with an avg pay increase of 4% then we could argue all day about which one has a future.
lol if a frog had wings its ass wouldn't hit the ground when it hopped.
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03-08-2013 , 12:31 PM
I'm also getting annoyed with my run bad this year

Spoiler:
Only 40/hr ffs that ain't right
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03-08-2013 , 12:37 PM
The 200k vs 50k was a hypothetical. Numbers skewed for emphasis.

And yeah, it would be bad for her, I imagine. I've laid out to her what times/days I'd be playing and she says she'd be all on board with it but I don't buy it completely. It's certainly a big change.
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03-08-2013 , 12:45 PM
Quote:
Originally Posted by BookToMarket
For you that may be the case. If poker pays 200k/yr right now and your current job pays 50k with an avg pay increase of 4% then we could argue all day about which one has a future.
yeah I give you like 0% chance of making 200k/year

A serious pro also needs to put in considerable amounts of time away from the table to become better

Keep your day job, play poker part time

this is a much better long term proposition
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03-08-2013 , 12:46 PM
Quote:
Originally Posted by ikestoys
I'm also getting annoyed with my run bad this year

Spoiler:
Only 40/hr ffs that ain't right
ffffffuuuuuuuu
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03-08-2013 , 01:03 PM
Quote:
Originally Posted by BookToMarket
The 200k vs 50k was a hypothetical. Numbers skewed for emphasis.

And yeah, it would be bad for her, I imagine. I've laid out to her what times/days I'd be playing and she says she'd be all on board with it but I don't buy it completely. It's certainly a big change.
Hmmm, I feel like laying hot truth today.

I've played poker for a living for over 6 years and made over six figures per year every year I wasn't trying to get into medical school. This was a different time however. This was when I could sit at home play 4 hours a day and make 200/hr because I could play 9 tables of 2/4 with rakeback.

That doesn't exist anymore. The chances of you making 100k are slim to none. The chances of you making 50k playing live only, knowing nothing about your game or history, aren't great either. Furthermore, if you're going to play poker you need to be making more than 50k in order to make up for self employment tax, uncertainty and health insurance. 70k+ playing poker is probably around equivalent to 50k in a standard job.

Finally, the chances of you finding long term happiness in a poker room are the smallest probability of them all. Yeah you'll probably get a rush for awhile; you're doing something new and exciting after all. However, eventually it becomes a job and the casino is a damn depressing office.

Personally, my suggestion to you would be to work on advancing your career. You say your 50k/year job is dead end or whatever, but if you're making 50k a year you clearly have some skills. Improve your resume and look for a promotion or new job. Poker is not the way to go.

Signed,

A long term pro
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03-08-2013 , 01:09 PM
ike spits truth like fire
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03-08-2013 , 01:10 PM
Quote:
Originally Posted by ikestoys
Hmmm, I feel like laying hot truth today.

I've played poker for a living for over 6 years and made over six figures per year every year I wasn't trying to get into medical school. This was a different time however. This was when I could sit at home play 4 hours a day and make 200/hr because I could play 9 tables of 2/4 with rakeback.

That doesn't exist anymore. The chances of you making 100k are slim to none. The chances of you making 50k playing live only, knowing nothing about your game or history, aren't great either. Furthermore, if you're going to play poker you need to be making more than 50k in order to make up for self employment tax, uncertainty and health insurance. 70k+ playing poker is probably around equivalent to 50k in a standard job.

Finally, the chances of you finding long term happiness in a poker room are the smallest probability of them all. Yeah you'll probably get a rush for awhile; you're doing something new and exciting after all. However, eventually it becomes a job and the casino is a damn depressing office.

Personally, my suggestion to you would be to work on advancing your career. You say your 50k/year job is dead end or whatever, but if you're making 50k a year you clearly have some skills. Improve your resume and look for a promotion or new job. Poker is not the way to go.

Signed,

A long term pro
Appreciate the words of wisdom.

Like I said, the 200 vs 50 was just a hypothetical. I make ~75k/yr right now but my job has no future like I've mentioned. I can probably expect 2-3k raises every year until I die or get designations/degrees. Perhaps I'm delusional in thinking that playing poker full time would pay more or be more enjoyable than what I'm currently doing -- certainly a possibility, that's why I posted in here in the first place. I've never played in a casino professionally and I imagine it could get old pretty quick.
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03-08-2013 , 01:11 PM
Good job on the public service announcement.

You get a gold star, sir.
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03-08-2013 , 01:12 PM
What kind of dead end job that pays 75k out of college?
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03-08-2013 , 01:17 PM
Quote:
Originally Posted by Richard Parker
What kind of dead end job that pays 75k out of college?
lol. And I wonder if OP realizes what 75k + benefits + vacation is like vs. poker. Because what OP is making is probably worth 100k when you consider they're paying for retirement, health care, other half of his FICA taxes, etc.
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03-08-2013 , 01:37 PM
Plus he strikes me as lazy for posting that post about how he's too lazy to read FAQ and at least a few threads on his own.
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03-08-2013 , 01:47 PM
Quote:
Originally Posted by BookToMarket
Appreciate the words of wisdom.

Like I said, the 200 vs 50 was just a hypothetical. I make ~75k/yr right now but my job has no future like I've mentioned. I can probably expect 2-3k raises every year until I die or get designations/degrees. Perhaps I'm delusional in thinking that playing poker full time would pay more or be more enjoyable than what I'm currently doing -- certainly a possibility, that's why I posted in here in the first place. I've never played in a casino professionally and I imagine it could get old pretty quick.
yeah what a terrible job, in 10 years you'll be making 100k

you are ****ing delusional dude

you will be less happy, and make less money

ever think of getting a job at a different place if you want more money?
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03-08-2013 , 01:59 PM
Quote:
Originally Posted by The Rumor
lol. And I wonder if OP realizes what 75k + benefits + vacation is like vs. poker. Because what OP is making is probably worth 100k when you consider they're paying for retirement, health care, other half of his FICA taxes, etc.
To add to this. There are also no pay grades in poker. In fact, there's sort of a regressive pay grade in the player pool improves over time and unless your rate of improvement out paces the public your winrate will stagnate/decrease.

Also, as a pro, you'll be putting in more hours which means people will become more familiar with your game so you'll need to make the right counter-adjustments in order to sustain your current winrate as well.


BookToMarket, when you were playing in college was that online or live play? If it was online I'd like your chances better. Still, it's a huge decision and something you need to fully think through. What would your back-up plan be if poker doesn't work out? Could you go back to your current job?

Are there 5/10 games where you play? If not, 100% stick to playing on the side. Grinding 2/5 won't cut it.
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03-08-2013 , 02:03 PM
I'm killing 5/10 for 36 bb/hr. sample size either 5.5 hrs or 550 hrs
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03-08-2013 , 02:28 PM
I mean even if you are playing 1/2 or 1/3 on the weekends and making like 200 bucks or w/e a week, that can fund one awesome ****ing vacation per year.
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03-08-2013 , 02:29 PM
Where do you vacation...Lincoln, Braska?

All the corn and beef you can eat!!!
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03-08-2013 , 02:51 PM
Quote:
Originally Posted by PuraVida96
To add to this. There are also no pay grades in poker. In fact, there's sort of a regressive pay grade in the player pool improves over time and unless your rate of improvement out paces the public your winrate will stagnate/decrease.

Also, as a pro, you'll be putting in more hours which means people will become more familiar with your game so you'll need to make the right counter-adjustments in order to sustain your current winrate as well.


BookToMarket, when you were playing in college was that online or live play? If it was online I'd like your chances better. Still, it's a huge decision and something you need to fully think through. What would your back-up plan be if poker doesn't work out? Could you go back to your current job?

Are there 5/10 games where you play? If not, 100% stick to playing on the side. Grinding 2/5 won't cut it.
I appreciate your comments PureVida. I played online exclusively before and now it's all live. Basically if I played poker and it didn't work out I'd try and get another job in my field. The company I work for is mediocre and they're absolutely nothing special and I should probably be looking for a better job anyways even if I don't decide to play poker. If I were to leave it would be on good terms and I'm pretty confident that if I wanted, my current employer would take me back.

There are 5/10 games, but only between 1-3 tables during peak times. Sometimes not even 1, depends on the crowd. 5/5 PLO is starting to draw a lot of the fish into the higher stakes.

Quote:
Originally Posted by 11t
yeah what a terrible job, in 10 years you'll be making 100k

you are ****ing delusional dude

you will be less happy, and make less money

ever think of getting a job at a different place if you want more money?
Inflation. 100k in 10 years will not be 100k today.

Maybe I would be less happy and making less money. That's why I posted, to get feedback.

Yes, but it's not all about money. My job is easy and it pays well, and generally speaking if I want more money I'm going to have to probably work 50% more for not a big increase in pay. I've had a few job offers at other places over the last several years and that's been pretty consistent.

Quote:
Originally Posted by Richard Parker
What kind of dead end job that pays 75k out of college?

Plus he strikes me as lazy for posting that post about how he's too lazy to read FAQ and at least a few threads on his own.
I'm 8 years out of college. You want me to dredge up some old posts by someone else regarding a situation that doesn't directly apply to me? You comment on me not reading the FAQ? You didn't even read my post that said in 2007 I got a job.
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