Starting to play full-time, looking for advice

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psiguy

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Hi all,

I am looking to start playing full-time and wanted to post my circumstances and see what anyone else would suggest, or themselves do in my situation.

I have been playing for 12 years, since I was 20. I played very heavily online from 2007-2011 online, also in Atlantic City and home games live. I have played more recently in LA, Bay Area and Reno where I have been living/working. As a player, I've already gone through the growing pains: taking shots and going busto, using rent money/borrowed money and going busto. For several years I've been playing solidly.

I am getting divorced. I am in LA but not looking to stay. I'm quitting my job. This is happening regardless of poker.

I will have $25k as a bankroll to start. I will also have about $10k cash for living expenses. I also have $15k set aside which is difficult to reach but can be used to fall back on.

I don't care about money particularly, because I can easily get another job (IT/computers). I've never lived alone, literally. Went from home to marriage and have been for 10 years.

My credit is shot because I let debts go up in smoke recently as part of the divorce. I do have a high limit credit card ($25k) still open. But my score is low 500s and I got off various debts at 15%-50%. I.E. renting and anything with a credit check won't fly. I do have a lot of points available that are worth about $2k of flights.

I'm in LA so want to move to Vegas.

I want to get into playing live tournaments. I am wondering about going to cities with wsop circuit and WPT events and playing for a week in each event. I would have flights covered on points for at least 3 or 4 of these so it's low cost to me. I also haven't played too much online in recent years, and am wondering if this is worth getting back into. Since the Stars and Full Tilt golden age and collapse, my heart hasn't been in online.

Looking for anyone's advice here.
 
CptRunBad

CptRunBad

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Honestly in my opinion it’s hard to focus your efforts on poker if you’re having to worry about debts and paying bills. I would allocate around 10k-15 for your bankroll and use at least 10k to pay some bills and get in a more comfortable place in your life. I’m not saying it’s impossible to do it your way, but it will be a much smoother road if you can focus your energy on poker and not all the extra stuff.
 
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psiguy

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Honestly in my opinion it’s hard to focus your efforts on poker if you’re having to worry about debts and paying bills. I would allocate around 10k-15 for your bankroll and use at least 10k to pay some bills and get in a more comfortable place in your life. I’m not saying it’s impossible to do it your way, but it will be a much smoother road if you can focus your energy on poker and not all the extra stuff.

Thanks for the answer, and to clarify, I don't have any bills. I settled all debts and paid them off but as a result shot my credit. I have $35k in cash now and plan to use $10k for living expenses. So that leaves a $25k bankroll.
 
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MilesTheGOAT

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I can see that your mind is pretty set on doing this which means that you will be able to improve your skill level a good amount by dedicating a lot of time to learning as well as playing.

Even if you are or think you are quite proficient in poker as with everything in life, you can always be better so I would suggest grabbing a few books then reading and re-reading them to increase your knowledge as much as possible.

I understand you’re pretty comfortable with where you are at but I would also say to take 5-10k from your bankroll and set it aside to use in an emergency, whether it would be for refunding a lost bankroll or for living expenses or other unforeseen circumstances just to be safe, this way you will also need to play some lower stakes games whilst you are learning more too.

I also wish you the best of luck on your endeavour and hope it goes well for you!
 
Igorek1313

Igorek1313

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if you are going to play full day, then set a limit on which to stop for every day. You can lose hard to lose a lot in one second ......:bebored:
 
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neptun1914

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Generally playing also online in addition to live is something good but i am not sure what is the current situation in USA after black friday. Stars are out of question and as far as i know Americas cardroom (ACR) is legal. Dunno about other sites. You look pretty much devoted so i wish you good luck.
 
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tarabarov

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I can only wish you good luck, the fulfillment of your goal, because you will really need it!
 
terryk

terryk

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You won't know unless you try. :D I hope you take Vegas by storm! :fight: Go big or stay at home,,,,
 
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bigpappa325

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Looks like you lost everything but some cash. So what do you really have t\o lose. your sanity? good luck
:eek::eek::eek:
 
pentazepam

pentazepam

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Do NOT play live tournaments as the main game if you want to be professional poker player!

The variance makes it almost impossible to predict any form of income. And even if you are better than most of the other players it is almost impossible to have a big enogh edge in tournaments to go pro.

The live cash games are still pretty soft and if you are a proven winner in them you can take say 10 % of your winnings per year and play tournaments. But that is a pure gamble decision if you want to have a chance to score big.

So find a CASH game that you can beat over an extended period of time (at least a year) and build your bankroll. If you can't build a bankroll in cash games do not try to go pro. Take a normal job and only play poker for fun or like a lottery type of game (tournaments) with the money you have left after rent, food and other bills are paid.
 
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