PART TIME TO PRO
John Huckle
A lot of poker players dream of jacking in the 9-5 rat race to do something that we all enjoy (most of the time that is). Lets face it working for someone else sucks big time.
Most people would rather have the office-free, play in your underwear, flexible hours that come with being an online poker professional, but there are several things you need to do before taking that big step.
Playing part time the game is fun, and any nice wins are a bonus to your life style and pay for those added extras a holiday, car, maybe even a house.
When playing full time your profit for the month has to cover your outgoings so firstly you need to sit down and work out exactly what you need to earn per month to maintain your current standard of living.
Most players will have a bankroll and think they can just jump in and start winning enough to live, but that tends to be their down fall. What happens if you lose for a month? This will inevitably mean you will dip into your roll to pay bills thus increasing the pressure to win, its a lot easier to play pressure free when it’s a nice bonus when you win, rather than having to win.
Running bad for long enough will in the end lead to seeking employment again as many people I know have done.
So here’s what you should do, try to have 5/6 months living expenses in reserve on top of your bankroll, take into account everything from food to clothes and rent, this cushion will allow you to continue playing pressure free and keep you on your A game.
Allow some money for a bit of time off too, because even poker players need a holiday, (and that doesn’t mean a weekend in Barcelona playing an EPT event squeezing in a few online session in between live play), a few days break away from your computer is needed if just to refocus your game and recharge the batteries.
Make sure you have a comfortable bankroll for the stakes you are going to be playing you wont be able to rely on your wages to top up your accounts so don’t over stretch.
So now you have done your preparation got your bankroll and reserves what next?
It is possible to play poker professionally by multi tabling and working out how much you need to play a day to earn a normal daily wage in rake back. Then you still get paid each month, you can let your bankroll grow / shrink with variance, but you still get the luxury of a guaranteed earning at the end of the month.
I know of many players that only need to break even to earn a decent living and for any full time online pro rake back is a must, so go searching for where you can get the best deals on the networks you currently play. Try to stick to the same networks where you know the players and know you are winning it may take too long to learn a new site and players than you can afford.
You can always break in new sites slowly whilst still playing your favorites.
Pick the best time of day to play; where and when are the softest games?
In my experience new pros make the mistake of playing daytime, which is when games are harder to find and are mostly full of fellow pros, so winning will be harder.
All the fish are out at work during the day so evenings are when the games are going to be softest.
Try analyzing your play on a daily basic review your biggest winning and losing hand from the previous day and try and learn from any mistakes.
A lot of people say you need to play cash to be a full time pro but in fact a lot of the biggest rake earners are from STT play raking upwards of $20,000 a month so with a good rake back deal they can break even and still earn over $10,000 a month.
If your intention is to play a lot of MTTs you need something else to keep you ticking over, as variance is so huge so play some cash and STTs . All of the big MTT's are on at night so if you play MTT's full time be prepared for very late nights.
Try not to run scared in MTT’s trying to cash 1st rather than looking for the win you do of course need to earn money but in reality as a winning play accepting tiny profits as opposed to aiming for the win will cost you long term.
Controlling your bankroll is of upmost importance and accepting the fact that some day you just cant win and have to stop and play tomorrow. Never chase losses or step up levels trying to cover a bad day quick, this will lead to faster losses.
Set your self a daily loss limit and don’t go over it.
Remember to also have a life away from your computer, sitting 18 hours behind a laptop can turn you into an anti social hermit so don’t be afraid to head out in to the daylight for a well needed break.
Many players have terrible trouble managing there bankrolls and end up blowing there $$$$ and some may have the reserves to be a pro, but not the bankroll.
In such cases some players may seek a backer to help them remain or even become a full time pro.
A bankrolling company will help the player manage and control his down swings whilst maximizing profits by personally managing the player as well as providing the $$$ to play. This does come at a cost with backers expecting a % of any profits but with the support that they can offer it is well worth the cost to a lot of players.
What if it all goes wrong?
Playing poker full time isn’t for every one some people cannot take the down swing months, so you need to know when to cut your losses. There are many people that have run up huge debts on cards and with other poker players by not knowing when to stop. Borrowing to play poker is a downward spiral and its rare that people work their way out of it, so once your bankroll is gone maybe it’s time to consider going back to the rat race.
There are many people out there that have made the transition successfully so don’t be afraid to ask your fellow players and get the picture, the good times and the bad before making the jump.
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