A semi-professional player who makes a living out of playing poker. An inside straight draw. An example of a gutshot straight draw (also known as belly buster straight draw) is to have 4578, in an attempt to draw a 6. To enter the pot cheaply by just calling the blind rather than raising. Also called limp. Good article Daniel. Having been a successful pro and semi pro for 20+ years I've seen many hopeful pros be losing players - they just are not as good as they think they are and play too high too. Over 1 year of playing poker semi-pro (and way more than 500 hours), I make x5 of what I earn at my office job. So don't tell me how 'hard' it is. I've read your books, Jonathan, you can call me a dreamer or whatever, but for me 30 hours a week at the poker table is NOT enough. Semi-professional poker player - Someone who derives income from poker as a side job. Professional poker player - someone whose main source of income is poker. (outside of investments, this is generally their sole source of income). With these numbers though, you can probably see just how swingy the life of a professional poker player (or semi-pro) will be at these limits. They are only booking a win a little greater than a coinflip. Now of course there are other things like rakeback and bonuses that can help prop up that winrate and turn more sessions into winning ones.
- Poker Semi Pro Definition
- Semi Pro Poker Player
- Poker Semi Pro Wrestling
- Joueur De Poker Semi Professionnel
floatingflops
over 5 years ago
Although I agree that you have to treat poker as a business if you are going pro, let's paint a more realistic picture of what expenses really look life for those that don't have their own personal chef.
Rent for a one bedroom in Las Vegas: $700
Utilities: elec, internet, etc. $300
Food: $400, less if you eat with your comps
Car + insurance + gas: $400
Total: $1800
If you make $20 hr x 2080 hrs (full work year) you get $41,600
Taxes are not 30% in this bracket but for sake of argument we will use it. Gross after taxes: about $29,000
Monthly income: about $2,400.
Income - nut = $800 disposable income every month.
Anyone working their tail off now at a job they hate have an extra $800 at the end of every month? Me neither.
Replytrentbridge
over 5 years ago
Except floating flops - if you worked at a regular job that pays $20/hr - you get a paycheck every two weeks - the income tax is already taken out and your employer pays half of your social security. (6.65%) Plus you might even get two weeks paid vacation to go to the WSOP in Las Vegas.
Poker Semi Pro Definition
Self-employed as a pro poker player, you aren't guaranteed any income and you owe 15.3% self-employment tax in lieu of social security.
You can't reduce a decision like this to accounting - you have to be comfortable making your living in a skill/talent based business that has nine folks at your place of business who believe they are as talented/skilled as you are - all wanting to take your money. It's the same world faced by writers, actors, musicians, comedians, artists, and professional golfers. The rewards at the top are extreme but there are no guarantees that more than 2% will ever reach those heights. Even established players are eager to take on sponsors - write books / do commercials/ sell teaching videos etc to make some income away from the felt.
Replyskippy01
over 5 years ago
$1,000 per month for food? And you are a vegan?
http://www.amazon.com/Eat-Vegan-4-00-Day-Conscious/dp/1570672571
floatingflops
over 5 years ago
Although I agree that you have to treat poker as a business if you are going pro, let's paint a more realistic picture of what expenses really look life for those that don't have their own personal chef.
Rent for a one bedroom in Las Vegas: $700
Utilities: elec, internet, etc. $300
Food: $400, less if you eat with your comps
Car + insurance + gas: $400
Total: $1800
If you make $20 hr x 2080 hrs (full work year) you get $41,600
Taxes are not 30% in this bracket but for sake of argument we will use it. Gross after taxes: about $29,000
Monthly income: about $2,400.
Income - nut = $800 disposable income every month.
Anyone working their tail off now at a job they hate have an extra $800 at the end of every month? Me neither.
Reply
trentbridge
over 5 years ago
Semi Pro Poker Player
Although I agree that you have to treat poker as a business if you are going pro, let's paint a more realistic picture of what expenses really look life for those that don't have their own personal chef.
Rent for a one bedroom in Las Vegas: $700
Utilities: elec, internet, etc. $300
Food: $400, less if you eat with your comps
Car + insurance + gas: $400
Total: $1800
If you make $20 hr x 2080 hrs (full work year) you get $41,600
Taxes are not 30% in this bracket but for sake of argument we will use it. Gross after taxes: about $29,000
Monthly income: about $2,400.
Income - nut = $800 disposable income every month.
Anyone working their tail off now at a job they hate have an extra $800 at the end of every month? Me neither.
Replytrentbridge
over 5 years ago
Except floating flops - if you worked at a regular job that pays $20/hr - you get a paycheck every two weeks - the income tax is already taken out and your employer pays half of your social security. (6.65%) Plus you might even get two weeks paid vacation to go to the WSOP in Las Vegas.
Poker Semi Pro Definition
Self-employed as a pro poker player, you aren't guaranteed any income and you owe 15.3% self-employment tax in lieu of social security.
You can't reduce a decision like this to accounting - you have to be comfortable making your living in a skill/talent based business that has nine folks at your place of business who believe they are as talented/skilled as you are - all wanting to take your money. It's the same world faced by writers, actors, musicians, comedians, artists, and professional golfers. The rewards at the top are extreme but there are no guarantees that more than 2% will ever reach those heights. Even established players are eager to take on sponsors - write books / do commercials/ sell teaching videos etc to make some income away from the felt.
Replyskippy01
over 5 years ago
$1,000 per month for food? And you are a vegan?
http://www.amazon.com/Eat-Vegan-4-00-Day-Conscious/dp/1570672571
floatingflops
over 5 years ago
Although I agree that you have to treat poker as a business if you are going pro, let's paint a more realistic picture of what expenses really look life for those that don't have their own personal chef.
Rent for a one bedroom in Las Vegas: $700
Utilities: elec, internet, etc. $300
Food: $400, less if you eat with your comps
Car + insurance + gas: $400
Total: $1800
If you make $20 hr x 2080 hrs (full work year) you get $41,600
Taxes are not 30% in this bracket but for sake of argument we will use it. Gross after taxes: about $29,000
Monthly income: about $2,400.
Income - nut = $800 disposable income every month.
Anyone working their tail off now at a job they hate have an extra $800 at the end of every month? Me neither.
Replytrentbridge
over 5 years ago
Semi Pro Poker Player
Except floating flops - if you worked at a regular job that pays $20/hr - you get a paycheck every two weeks - the income tax is already taken out and your employer pays half of your social security. (6.65%) Plus you might even get two weeks paid vacation to go to the WSOP in Las Vegas.
Poker Semi Pro Wrestling
Self-employed as a pro poker player, you aren't guaranteed any income and you owe 15.3% self-employment tax in lieu of social security.
Joueur De Poker Semi Professionnel
You can't reduce a decision like this to accounting - you have to be comfortable making your living in a skill/talent based business that has nine folks at your place of business who believe they are as talented/skilled as you are - all wanting to take your money. It's the same world faced by writers, actors, musicians, comedians, artists, and professional golfers. The rewards at the top are extreme but there are no guarantees that more than 2% will ever reach those heights. Even established players are eager to take on sponsors - write books / do commercials/ sell teaching videos etc to make some income away from the felt.
Replyskippy01
over 5 years ago
$1,000 per month for food? And you are a vegan?
http://www.amazon.com/Eat-Vegan-4-00-Day-Conscious/dp/1570672571
