Quote:
Originally Posted by David Lyons
At the start of the boom, a player with a modicum of skill and discipline could make a lot of money at whatever stakes their bankroll could handle. This is because almost every seat was filled with players who were new and green. This period was from c. 2005 to 2009.
There was then a time where players could invest a relatively modest amount of time in skilling up, and choose a sufficiently low stakes and large number of tables that the effect of variance was low.
Of course as many thousands of skilled players did the same thing the level of skill required increased, so lots of players were forced to get better, stop playing, take more variance risk (i.e. higher stakes) or be more selective about games.
We are now in the fourth era, where skilled players can make a profit but must accept a lot of variance. Small-roll low-variance play will not deliver a viable income anywhere except the most low cost-of-living places, and as poker has "boomed" in these places (LATAM, CIS) there are many players playing at a good skill level with a very low hourly that makes life harder for the the European, Canadian, etc players.
The "poker is dead" narrative is almost exclusively from players who fall into one or more of the below categories:
- failed to adapt to the above transitions
- believe that playing well is enough to be a winning player
- believe a return to the past status is possible
- believe the above transitions are due to operator actions and not due to massively changing skill demographics
Right now, it is much much harder (maybe 30x harder) for a player to earn a dollar predictably and consistently playing online poker than it was 10 years ago. So to those who aspire to make that dollar but cannot, it feels "dead".
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If you would like an analogy, look at ebay. It used to be easy to buy stock, sell on ebay, make a significant profit, make a living. Despite ebay and paypal eating close to 15%.
Now due to a massive proliferation of sellers who run at small margins and better options for buyers (Amazon, etc) there are a bazillion sellers complaining that "ebay is dead" because they cannot make a profit. Naturally some see the problem as the ebay fees, as without them the margins would be a lot better. Some see it as less buyers, but actually buyer numbers on ebay are relatively strong. There are just a LOT of low-margin sellers in every category.
Of course, like poker, these sellers (winning) also think that they are the ones paying the fees each month so they are the ones who should be catered to. Thankfully ebay recognises that the money everyone actually makes is actually brought into ebay by the buyers (losing players), and the buyers needs being met is what makes ebay - and the sellers - have any business at all (hence the escalation of buyer protections and whittling away of seller protections over the last decade). The sellers say that ebay couldn't exist without them, but the reality is that because the market is so liquid that a big seller departing would not even be noticed by the site, as the buyers dictate the size of ebay. More buyers = more money for everyone. More sellers = nothing happens except margins (winrates) get smaller and the ones forced out say "ebay is dead".
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There are some companies trying to bring new people to poker (PS, Zynga) there are some trying to support the dream of the professional and aspiring serious poker player (PP, RIO) and there are some trying to creatively innovate the game to a different audience (PS, Global). None of these companies have it easy, for different reasons, but some / all are easy targets because every time a staff member or shareholder gets paid a dollar, it's a dollar that a winner cannot win.
very well stated
for reference, i made several thousand without ever depositing while working in my office
there was a lot of down time, some people played minesweeper, i played online poker
no hud, no notes, no thought at all, regularly had to just sit out a hand, walk away from my desk, etc - this was major reason why i never considered depositing or playing high stakes, it was originally just something to pass downtime - i'd previously been a live pro, but i never treated this as a source of income, more just a challenge
there were countless times when I couldn't play the sng or mtt i regged to so just started shoving all in for the lols hoping to build up enough of a stack to then min cash by sitting out
Today if i give full concentration I'm a slightly profitable player in the micros. About 2 years ago I decided to really focus on playing online for real. Installed a hud, did hand reviews, etc. I was profitable, but after 3 months, I concluded that I could only reasonably expect an income of about 2k a month barring a massive improvement or serious bankroll injection to play higher stakes. So basically, working my ass off every day makes me less than working at Walmart.
Given my real world job opportunities available, this was not a desirable choice so I set aside poker once again, knowing I still had the chops but not enough chops to live comfortably.
I've often debated seeking staking, not for the financial backing so much as the guidance and coaching it would give me. I don't play enough volume at high enough levels to justify coaching or training sites, but if I got staked then they would both want to give hand review feedback and send me training materials. Likewise, with it no longer being hobbyist money but somoene else's I'd have a real incentive to then put in the time to put that all to good use.
10+ years ago I'd show up to Macau and sit down at the table and just wait until someone got bored and started shoving blind every hand. It was basically all mainland Chinese who normally do nosebleed baccarat and this was just them playing around with fun money. Last time I went to Macau, the tables were 7-8 pros and 2-3 decently skilled amateurs. A number of people I sat down with were guys I recognized from watching on tv.
Macau used to be my ATM, I'd literally arrange any travel anywhere near that region to go through it so I could pop in, play a session or two, make a few buyins profit then go back to the airport and resume my flight to the original intended destination.
The game used to be absurdly easy for anyone who knew what they are doing. That's no longer the case. For some real perspective, check out the OTBtheredbaron thread, in the early parts he does a lot of reg trashing. It seemed a little silly and cocky for him to say such and such was a bad player given they were OGs of those stakes, and yet, a look at HSDB indeed showed most haven't been winning players since black friday and ODB was indeed beating them handedly.
Those guys who were end bosses 10 years earlier are now the fish. When that happens to you, that's a terrifying thing that fills you with deep pain. It's a huge existential crisis, and why there's so much "poker is dead/god is dead" Nietzchean stuff found in the forum