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Tom’s Poker Journey – Did He Turn Pro?

Back in 2008, I received a random email from someone I will call “Tom.” Tom has an age-old question that many successful amateurs have from time to time. Here is what he wrote:

“I think that I am ready to turn pro. I have been playing poker at least 20 hours a week or more now for over 2 years and have amassed a bankroll of over $100,000 primarily playing in cash games.

The only real debt that I have is the house that my wife and I live in. I do not have any children. Currently, I work a job where I make around $55,000 a year. Based on my cash game play, I think that I could easily make that playing poker. What do you think?”

Tom

I gave Tom an answer back then that was appropriate but things have changed quite a bit since then. Let’s take a look at what I told him then versus what I would suggest now.

My Answer in 2008

Back in 2008, I gave Tom a relatively quick reply as outlined below:

“Tom,

First, congratulations on building such a nice bankroll. You are currently averaging $50,000 a year at the poker tables. That is great. However, let’s take a look at a few things as you consider whether or not to turn pro.

First, do you have enough money put back in the event you went on a six-month losing streak? While a six-month losing streak seems unlikely or improbable, the possibility is still there. If you were to go on a two or three-month losing streak, which is more likely, how would that affect your lifestyle?

Also, as a professional poker player, you are essentially self-employed. As such, you are responsible for all taxes on your earnings. Let’s assume you make your goal of $55,000 a year. You will have to spend at least $15,000 in taxes or more. That leaves you with essentially $30,000 in the year for income. Can you live on $30,000 a year?

Also, are you going to play live poker or online? If you are considering playing in a casino town, you may want to evaluate how much the cost of living is in the places that you are planning on moving to.

From the sounds of things, it may be better if you keep your regular job for now and do some further evaluation of your situation. If nothing else, continue to build your bankroll and put money back until you are indeed comfortable enough to take on the professional poker lifestyle. Good luck.”

At the time, I had only about two years in the live poker scene and I was a rookie poker media member. Watching the evolution of the game over the years, my answer would be very different now.

My Answer to Tom in 2018

Below is how I would address Tom in today’s poker climate.

Tom,

First, congratulations on building such a nice bankroll. From what you’re telling me, you’re averaging $50,000 a year playing poker. While that sounds fantastic, I have a couple of questions.

When you say “primarily cash games,” how much of that $100k is from cash. A $100k roll from cash games along is much more indicative of your ability than $25k in cash games and a $75k bink from a random $500 tournament.

Next, are you playing live or online poker? Unless you’re gambling on unregulated sites like America’s Cardroom, I am assuming you’re playing live. If so, what limits are you presently playing and what limits are you planning to play as a professional? Are you willing to move to an area where the games are conducive to making a run at being a pro poker player?

Also, do you have any leaks in your lifestyle? Do you like to bet on sports, blackjack, party frequently, or anything else that might compromise your bankroll?

Next, I want you to consider the lifestyle you’re contemplating. You’re currently married and without kids. What happens if you have kids? Does your wife support your decision to play poker full-time? These are all considerations you need to make.

Honestly, you didn’t provide me with enough information to give you an honest evaluation of your situation. Like all things in poker, more information is needed to give an honest evaluation. However, at your point in life, I would lean towards sticking with the game as a recreational player and maybe investing some of that $100k in something that would benefit your family for the future.

Whatever Happened to Tom?

Tom’s story did not have a Cinderella ending where he turned poker pro despite my advice. However, he also didn’t crash and burn. Instead, life decided to take a funny little turn.

After sending my reply, Tom started crunching some number and was making some plans to maybe turn semi-pro, something I can relate to. However, then his wife dropped a bomb on him that she was pregnant with their first child.
Tom’s priorities changed and rather than investing that $100k in a poker bankroll, he ended up becoming a dad. I heard from Tom a couple more times after that and he essentially continued to play online poker recreationally.

Eventually, Tom ended up leaving poker after Black Friday because most of his play was online and he lived too far away from a casino to commute and raise a family. His story is the same as many poker players. Making a huge amount of money in poker isn’t always the litmus test of turning pro. There are a lot more factors to consider, and sometimes life tells us that being a poker pro is not in the cards.

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