This is the harsh reality that befalls many players that have been lured in to the concept of playing poker for a living and why so many end their careers before they ever really get started.
Look at Poker Like Any Other Job
If you are considering turning professional and relying on poker as your primary source of income, the first step is to change your perception of the game from being a form of entertainment to being a job. Like any job, you will need to take your poker profession seriously, as your livelihood will depend on it. All of your playing sessions will become solely about posting profits and minimizing losses during long, stressful days spent sitting in a chair while putting your money at risk and being cut off from the rest of the world.
Speaking of risk, dealing with the fact that your funds are always in limbo while at the table is one of the main aspects of professional poker that many new pros underestimate. Steel workers and accountants don’t start their work day worrying about whether or not they will lose money and this is where a career in gambling differs from just about every other type of job in the world.
As a result, bankroll management will become an essential and important part of keeping a steady income going and we recommend you read our piece on poker money management. (Money Management – Beginner)
Save up 6 Months Living Expenses
As far as starting bankrolls are concerned, you don’t want to make your professional debut with £5,000 in your account and no money in the bank. The huge financial swings that poker is notorious for could strike you down right out of the gate, forcing you into a situation where you barely have enough money to pay your rent, yet alone buy into your standard ring games.
It is advisable that you have enough money saved up for six months’ worth of living expenses, and you should make sure not to tap that cash for poker purposes.
Remember where you Make your Money
As you start your pro career, you need to make sure that you are investing your poker money wisely. If you do not have a great track record when it comes to tournaments, don’t waste too much money on expensive buy-ins, as that is just cutting unnecessarily into your profits.
Instead, focus on the games you are strongest in and work towards continuously building your bankroll. If £10-£20 NL Hold’em is your bread and butter, don’t spend 70% of your time at £50 SNGs. It is easy to get sidetracked by all the different variations and formats that poker offers, but a true professional never forgets where he makes his real money.
Key Points
• Have at least six months’ worth of living expenses money saved up.
• Change your mind set to view poker as a job rather than as a game/hobby/form of entertainment.
• Keep an up-to-date bankroll management log that tracks every session’s wins and losses.
• Focus on the format and game variations that you are most successful at.
• Avoid wasting money on the poker formats that you are not strong in (such as tournaments, turbo events, etc).
Chris
- Chris Laquinta is a magazine editor, content specialist and poker fanatic with 10+ years writing experience and over 1,500 published articles. Chris is a naitive of Southern California, where he spent his entire life learning gaming concepts and theories from relatives that had been former professional gamblers. He currently resides in Torrance, CA where he works as a professional content writer and part-time SNG professional.
