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Quitting playing poker full time and seeking guidance/advice Quitting playing poker full time and seeking guidance/advice

11-16-2017 , 08:16 AM
Hello 2+2 community,

My name is Tim and I have been a long time lurker, just never created an account to post anything. I felt the need to come here and share my situation because I feel like many of you could relate to what I am going through.

My quick backstory: I am 28 years old and have played professionally for 9 years. I did a year at college with the plans to major in business administration but dropped out to pursue poker in hopes to catch the tail end of the poker boom/golden era. However, In that timeframe I managed to run up a bankroll to nearly 500k only to lose back 85% of it. The first 6 years were pretty good. I was making great money, had financial freedom and was able to travel all over the world. Things were going amazing by my standards so there was never any thoughts of having a backup plan or questioning the longevity for a career in poker. To get to the point, I made around 500k in my first 6 years, but in the last 3 years I lost back a ton between my own personal play as well as staking/backing others that went south. Now reflecting on my career in poker, it is very hard to come to terms with how I managed my money. I stopped using good bankroll management when things started to go bad and ended up chasing losses by investing larger amounts into bigger games and tournaments and also by taking on more horses and just got over my head. Now, I am not telling you all this to receive pity. Perhaps it feels better to vent a little but mostly I wanted to give you a good idea of where I am at in life. Feelings of depression and disappointment in myself. The way things have turned out it really feels like I wasted the last 9 years of my life. All the hard work I put into poker feels like it was all for nothing now. I know dwelling on the past is pointless because you can't change what happened but It is hard to not get down on myself. All I can think about is what the hell have I done in the last 9 years? All I have to show from it all is roughly $70,000 that I have left. But at 28 years old that doesn't seem like much of an accomplishment considering I have no college degree or professional job skills on my resume. So I feel pretty hopeless in regards to what to do moving forward.

What are my chances of landing a decent paying 9-5 job given my lack of work experience? I would imagine I can't list professional poker player on my resume and expect that to do anything positive when reaching out to employers. Is my best bet to just go back to school and finish up my degree? My girlfriend is expecting our first child in 7 months to complicate matters even more. I'm just feeling lost and unsure of what to do.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 08:31 AM
Quote:
Originally Posted by TGrant71
I would imagine I can't list professional poker player on my resume and expect that to do anything positive when reaching out to employers. Is my best bet to just go back to school and finish up my degree? My girlfriend is expecting our first child in 7 months to complicate matters even more. I'm just feeling lost and unsure of what to do.
As an employer, I would much prefer a resume reading "Professional Poker Player" than an empty space, lies or "Soul Searching in Asia" / "Professional World Traveller". In your place, I would make sure to list any outside of gambling work (have you maybe volunteered somewhere? Non-gambling related investment work? Management?) on my resume as well.

Going back to school is almost always a good choice though, especially if it is in a field where a degree should land you a job. With only 70k, it might be hard to do without also working somewhere at least part-time (depending on cost of living where you live, cost of education, expenses etc).

I would also consider psychotherapy or some other form of counselling (maybe you have some friend(s) you can talk to that are not poker players?), because after nine years of playing for a living your view of the worth of money might make it hard to "work" for a "normal" wage, when a monthly wage is an amount that you used to win/lose every night. This might be hard to come to terms with, especially at first.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 08:43 AM
I would give it one last shot. U can't achieve half a million in 6 years if you're a bad poker player. Did you try to play lower stakes? Or do you think player pool is too hard these days?
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 08:58 AM
Also be realistic with your expectations, being 28 with no relevant work experience means that you will have trouble finding higher-paid jobs. If you are in good physical shape, maybe some entry-level unskilled construction work would be a good option, but it depends on where you live, what is on offer etc etc.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 09:08 AM
When you're looking back at the past 9 years it seems like you're only glancing at the surface of what you accomplished. Dive into it a little deeper...

You saw an opportunity at the tail-end of the poker golden era and found a way to become a professional poker player. You DID something about it, where as most wouldn't have (or didn't). Having that go-do attitude, confidence to take a risk when you see opportunity is rare and a skill you can perhaps build on.

What other skills or experiences have you gained because you were a pro for 9 years? Risk assessment, social skills, grit, discipline? Whatever it is, big or small, you can now go out and apply these things.

You're closing a chapter in your life and opening a new one - Look at it like you did when you first got into poker, as an OPPORTUNITY. You might not know what that opportunity is yet but you'll find it if you keep looking. GL OP
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 09:48 AM
Quote:
Originally Posted by ReGen
As an employer, I would much prefer a resume reading "Professional Poker Player" than an empty space, lies or "Soul Searching in Asia" / "Professional World Traveller". In your place, I would make sure to list any outside of gambling work (have you maybe volunteered somewhere? Non-gambling related investment work? Management?) on my resume as well.
Unfortunely no, I haven’t done anything on the side outside of poker. I don’t think helping my mother financially and as a part time caregiver holds any relevance to potential employers.


Quote:
I would also consider psychotherapy or some other form of counselling (maybe you have some friend(s) you can talk to that are not poker players?), because after nine years of playing for a living your view of the worth of money might make it hard to "work" for a "normal" wage, when a monthly wage is an amount that you used to win/lose every night. This might be hard to come to terms with, especially at first.
You are absolutely right about that. It’s demoralizing thinking about how money I was going through back then, compared to now where I’d be working for a fraction of those amounts. However, it is also humbling and surprisingly after some time I have finally moved on and realize my circumstances have changed and that I need to accept it. Also expecting a baby soon has changed my perception of money and perspective on life. It gives me motivation to do whatever needs to be done. No more screwing around. Time is now what’s become most valuable to me and I need to act fast on whatever I decide.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 10:00 AM
Quote:
Originally Posted by Htufty
I would give it one last shot. U can't achieve half a million in 6 years if you're a bad poker player. Did you try to play lower stakes? Or do you think player pool is too hard these days?
Honestly I started contemplating quitting poker after Wsop in Vegas last summer. Had a couple deep runs and close calls in some of the smaller events but overall ended up only breaking even after grinding my ass off for 5 weeks straight. That was the tipping point where it started to feel pointless to continue. I wish I acted on those thoughts of quitting right then and there so that I’d have a full year of whatever i decided to transition to under my belt by now. Instead I’ sucked it up and gave it a shot for another year. At this point my mind is made up after receiving news that I’m going to be having a baby in 7 months. That definitely eliminated any doubt in my mind about whether or not to move on from poker. I could never deal with the stress of playing poker for a living while trying to support a family. I need a stable job with guaranteed income.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 10:05 AM
Quote:
Originally Posted by ReGen
Also be realistic with your expectations, being 28 with no relevant work experience means that you will have trouble finding higher-paid jobs. If you are in good physical shape, maybe some entry-level unskilled construction work would be a good option, but it depends on where you live, what is on offer etc etc.
100% correct. This is the reality that I have to deal with which is why I feel like even with having a kid on the way, I need to figure out how I can generate some income while being able to go back to school. Perhaps I can look going at night or take some classes online.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 10:08 AM
Quote:
Originally Posted by MichaelJordan23
When you're looking back at the past 9 years it seems like you're only glancing at the surface of what you accomplished. Dive into it a little deeper...

You saw an opportunity at the tail-end of the poker golden era and found a way to become a professional poker player. You DID something about it, where as most wouldn't have (or didn't). Having that go-do attitude, confidence to take a risk when you see opportunity is rare and a skill you can perhaps build on.

What other skills or experiences have you gained because you were a pro for 9 years? Risk assessment, social skills, grit, discipline? Whatever it is, big or small, you can now go out and apply these things.

You're closing a chapter in your life and opening a new one - Look at it like you did when you first got into poker, as an OPPORTUNITY. You might not know what that opportunity is yet but you'll find it if you keep looking. GL OP
Love the optimism and definitely appreciate the positive encouragement. Thank you.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 10:27 AM
hey man, Im in a similar situation, recently decided to quit playing poker for a living after 6 years and Im in the process of finding a job (still playing though until I find one). My one advantage is the fact that I dont have a big hole in CV like most former poker pros, as I went into a PHD program right after the university, but it is still looking tough. All decent positions require previous experience, and when I find one than doesnt, there is a ton of people who are willing to work for pennies (Im applying through a job board that shows how my financial expectations compare to other applicants).

Not giving up though, I am getting SOME interviews, and the good thing is most of them have a practical element to test my analytical skills (Im mostly applying for jobs in financial analysis field), where my poker-acquired skills can shine. My one advice for you is to train some general skills, simple Excel mastery can get you a long way.
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 04:41 PM
Congrats on soon becoming a father! That must be exciting and is something that will most likely change some perspectives in life. What I see is that money seems to be the nagging problem and perhaps that looking back on what you once had is also depressing you, but you said it yourself, the past is the past and we can't change it.

The future from what I can see looks to be very bright for you! You have a girlfriend and a child on the way and you have $70K to your name...and you're only 28! It may not seem like a lot to you, but for many even having $1K to their name is a lot. I see that maybe standards of the life you used to live might need to drop just a bit and I'm sure you will realize this once your child is born, but I admire you for looking to the future of what to do in order to care for your family.

It appears you are firm on your decision to quit poker and if you feel that's the right choice then you're actually headed in the right direction, you're making good life choices so try not to be so hard on yourself. We know that nothing remains the same, changes happen and while this is a big life change for you it is something that you will learn to adapt with and thrive.

As for jobs, what are you interested in? Don't worry so much about having blanks on your resume, as one poster mentioned I would definitely write "professional poker player" on your resume, that might even spark the curiosity of some potential employers and get your foot in the door. Continuing your education is also a wise decision as well and that's probably where I would start if I were in your shoes.

Again, I see a bright future for you man and I wish you the best in the upcoming months and years!
Quitting playing poker full time and seeking guidance/advice Quote
11-16-2017 , 05:15 PM
Damn, really tough spot, sry man.

the most important thing you have to do is to reduce costs as much as you can

1- move back to your parents house with your gf, there's no shame in doing that, it's better than living in a ****hole(because that's the other option that's wisest, you can't afford to live an expensive lifestyle until you turn things around), also there's free food/energy/water/cleaning. Btw, if you really don't want to move back to your parents' house, don't be afraid of moving into a ****hole, I've already lived in one and it was really fine, ugly/broken/old places aren't as uncomfortable as they look like.

2- find a job, even with no experience/resume, in developed countries you can find jobs that pay and provide you with a decent living.

3- find games you beat by a good margin, play them as much as you can in your free time

4- quit smoking/drinking/partying/expensive stuff(if you do any of those), try to find hobbies that are cheaper(or inexpensive), like playing board games with your friends.

5- after you are confident you can make money(and save it), invest some money you won't need in a low risk investment. Keep saving and investing, living a humble life, it's better to be safe than sorry, also most expensive stuff aren't worth the money.

gl, man
Quitting playing poker full time and seeking guidance/advice Quote
11-17-2017 , 12:08 AM
I don't have any advice but good luck op, will be rooting for you
Quitting playing poker full time and seeking guidance/advice Quote
11-17-2017 , 04:46 AM
Another thing to consider is starting your own business. Do some market research on what might be viable in your area - investing 10-30k of your money in starting your own company may very well be a good idea, just make sure to do your research and leverage any contacts you may have for this.

Maybe some wholesale import/export? Maybe a service company? A small shop? The possibilities are endless, there is a large potential upside and you might retain some of the freedom that you had as a poker player. And the feeling of building something from scratch is very fulfilling, even if the money you make doesn´t make you rich.

However, as tempting at it may be, keep away from stocks/bitcoin/shares/trading and other such branches that are very similar to poker. Switching button clicking in a card game against button clicking on trading will not accomplish what you are after.

Good luck and keep us updated!
Quitting playing poker full time and seeking guidance/advice Quote
11-17-2017 , 05:17 AM
I would get into bar tending - It isn't hard at all - and would be the highest entry level job you can do. To be really good at poker you need good social skills unless you played online.

No fish will ever sit you if you are a mute headphone wearing nerd - and if they do they will quickly find a more "fun" game.

if all else fails - maybe move down to 2/5? Decent $$$ can be made with out the stress.
Quitting playing poker full time and seeking guidance/advice Quote
11-17-2017 , 07:48 AM
Quote:
Originally Posted by onehandatatime
Congrats on soon becoming a father! That must be exciting and is something that will most likely change some perspectives in life. What I see is that money seems to be the nagging problem and perhaps that looking back on what you once had is also depressing you, but you said it yourself, the past is the past and we can't change it.

The future from what I can see looks to be very bright for you! You have a girlfriend and a child on the way and you have $70K to your name...and you're only 28! It may not seem like a lot to you, but for many even having $1K to their name is a lot. I see that maybe standards of the life you used to live might need to drop just a bit and I'm sure you will realize this once your child is born, but I admire you for looking to the future of what to do in order to care for your family.

It appears you are firm on your decision to quit poker and if you feel that's the right choice then you're actually headed in the right direction, you're making good life choices so try not to be so hard on yourself. We know that nothing remains the same, changes happen and while this is a big life change for you it is something that you will learn to adapt with and thrive.

As for jobs, what are you interested in? Don't worry so much about having blanks on your resume, as one poster mentioned I would definitely write "professional poker player" on your resume, that might even spark the curiosity of some potential employers and get your foot in the door. Continuing your education is also a wise decision as well and that's probably where I would start if I were in your shoes.

Again, I see a bright future for you man and I wish you the best in the upcoming months and years!
Thank you sir for the kind words. As for jobs I’m not quite sure specifically what I want to do but my current interests are in business/finance. I have been thinking about going back to school and I’m trying to decide what classes I’d take. I’m also looking into economics and accounting. I also have been thinking about computer science programs but not sure if I’m cut out for that. I’ll be researching more in the next few days.
Quitting playing poker full time and seeking guidance/advice Quote
11-17-2017 , 12:40 PM
Quote:
Originally Posted by TGrant71
Thank you sir for the kind words. As for jobs I’m not quite sure specifically what I want to do but my current interests are in business/finance. I have been thinking about going back to school and I’m trying to decide what classes I’d take. I’m also looking into economics and accounting. I also have been thinking about computer science programs but not sure if I’m cut out for that. I’ll be researching more in the next few days.

Schedule time with the school to review your options and credits.. They can help guide you in the right direction.
Quitting playing poker full time and seeking guidance/advice Quote
11-19-2017 , 12:55 AM
That's why you don't get married like jason mercier. Poker is a mgtow job, you don't deal with women, babies..you pursue your passion and go your own way!
Quitting playing poker full time and seeking guidance/advice Quote
11-19-2017 , 12:55 PM
If you did not have a kid on the way what would you do?

70k is still a lot of money as long as your expenses/spending is not out of control. There is no need to panic. With 70k you have plenty of options. Wait tables (or any type low barrier to entry job) and/or go back to school and save as much as you can. If you have the time, try to network as much as possible and meet new people. A big reason most people get the opportunities that they do is because of the people they know and the relationships they have made.

I think the best thing to do is just relax and realize there is no quick fix. Just be patient, save, stay positive, and hold yourself accountable. You have plenty of options.
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