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Going Pro: What You Should Know Before Playing Poker For a Living – Part 2 of 3

Posted on Tue Oct 31, 2006 01:35:50 AM
Filed under Articles, Bankroll Management and Personal Finance, Going Pro, Playing for a Living, Premium Articles

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If you haven’t already, read Going Pro: What You Should Know Before Playing Poker For a Living – Part 1 of 3 where we learned to estimate our monthly expenses, or nut, and we learned to estimate our monthly earn.

Growing Your Wealth

Your monthly nut is $2,300. So you have to generate $2,300 per month in income, right? No! You need to make more, at least $2,700 per month and preferably at least $3,000. You can’t spend every dollar you make each month. If you do that, you will go broke. You will have no cushion against overspending, you won’t be able to take vacations (one of the big perks of being a pro poker player), and you will be bled dry by emergencies. And you won’t be putting away any money for retirement (yes, you need to do that now, too).

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4 Responses to “Going Pro: What You Should Know Before Playing Poker For a Living – Part 2 of 3”

1

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christian
@ Wed Apr 25, 2007 02:40:36 PM
2

I read your article on going pro, I am in school but have loans out about $2,500 total. i pay $50 each month for them, I am pretty good at poker i win in cash games at least 85% of the time in foxwoods, $1/$2 NL-Holdem Max buyin $300 min $60. I have won at least $1200 there this past month only going there 5 times. I work at a bar on Fridays and Saturdays nights and generate an income of about $300 for both nights. I have read Super System2, Caro book of tells, and varied online articles. So, I am good at reading people and never play online games. I only have about $500 dollars saved up to this point, could I make a legitimate run at Pro Poker even part time with a starting bankroll so small.

Ed Miller
@ Wed Apr 25, 2007 05:51:55 PM
3

Christian,

Your bankroll is too small to depend on poker as an income. In fact, playing $1-$2 you could easily lose $500 in one night, even if you play well.

The guidelines I give in this series are slightly conservative, but not greatly so.

I suggest you keep working at your game, keep building your bankroll, and eventually you might have enough stashed away to make a run at it.

Robert Fleming
@ Tue May 13, 2008 01:26:46 AM
4

Hey I won 10k in a week playing $5-$10 NL with max buy in of 100….So I have a good bankroll but the swings can be tough…I am beginning to lose…I lost 2k online and 2k at the casino the past 2 days…I am beginninig to wonder if I should keep it up…Alot of the players sucked out on me and broke me…Its very hard emotionally and physically…I am starting to doubt my game…I have been playing steady for 8 years and read all the books but bad beats with donkeys really put me on tilt sometimes…

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