The Official "How Much I Earn/What Job I Do" Information Thread
- Thread starter Smitho3
- Start date
I'm sure this thread has opened up eyes to some people on playing poker.
Now you are going to getting 18-20yr students and grown men trying their hand at it.
Thinking they can make thousands LOL.
Then we are going to get Alcohol,depression problems and threads titled "How I lost it all(thanks souness)
Now you are going to getting 18-20yr students and grown men trying their hand at it.
Thinking they can make thousands LOL.
Then we are going to get Alcohol,depression problems and threads titled "How I lost it all(thanks souness)
Maybe the goverment will tax 75% of YOUR earnings next year? You see how ridiculous that sounds?
Plus people LOVE to gamble. People have been gambling since the dawn of time. If the goverment suddenly decided to rape the industry then there would be a huge uproar. They know better.
Plus there's always VPN
.But look at this way.
Its better than them claiming job seeker allowance.
Or hang on are they claiming JSA,housing benefit etc and making tax free poker money
But really what can someone do with 50 quid a week.
I have yet to meet someone who plays poker professionally and previously gave up a 50-100k job to become poker master and achieve SNE.
I'm not saying everyone should play. I'm just tired of this apparent witchhunt.. people telling me I don't know what I'm doing, I'm playing with fire etc, when I can crank out dollars like cadbury's cranks out dairy milk.
Another poker boom would be nice tho!
Maybe the goverment will tax 75% of YOUR earnings next year? You see how ridiculous that sounds?
Plus people LOVE to gamble. People have been gambling since the dawn of time. If the goverment suddenly decided to rape the industry then there would be a huge uproar. They know better.
Plus there's always VPN
Someone people do fall in the 40% and 50% tax bracket.
But relative to how much they make they are still left with a considerable amount. I don't see your point.
In poker however they is no set restriction on amount of hours played etc bla bla.
If a poker legislation come out to tax 75% winning, grinders would cease to exist because they wouldn't make as much unless they played twice as long which would be impossible since they play long hours anyway
Depends on the division you go into, i.e. one of my friends is going into strategy consulting which is notoriously one of the hardest to get into. This is purely because the consulting divisions are considerably smaller than Audit/Tax which will make up the bulk of their recruitment and consulting is the new 'favourite' amongst grads.
I did an internship at BDO this summer (which I have a graduate job lined up for as long as I maintain my 2:1) and for the 40 internship positions they had there were over 3000 applicants.
But look at this way.
Its better than them claiming job seeker allowance.
Or hang on are they claiming JSA,housing benefit etc and making tax free poker money
But really what can someone do with 50 quid a week.
I have yet to meet someone who plays poker professionally and previously gave up a 50-100k job to become poker master and achieve SNE.
I'm not suggesting that it is wrong or morally questionable, only that it is daft to pin your financial security on the turn of a card. For everyone who wins there are 5 or more that lose.
Well shucks, you got me beat fair and square there ma boy,
I'm not saying everyone should play. I'm just tired of this apparent witchhunt.. people telling me I don't know what I'm doing, I'm playing with fire etc, when I can crank out dollars like cadbury's cranks out dairy milk.
Another poker boom would be nice tho!
Surely if this money you can crank out is so assured and so guaranteed you should just pool together your massive poker derived fortunes and win a world series or two.
or is the truth of it you have have to slow burn 4-8 tables at a time passing up hand after hand and going through a rather tedious existance on low limit tables.
If so, you don't play poker, poker plays you. but hey if you think it's your way to a steady 30k a year, more power to you
Thats with anything in life.
Hence me saying to these guys. Don't have your eggs all in one basket.
Yeah, but it is all about risk to return, and online poker is ok to supplement an income, but to make a career out of it is either risky or seriously laborious with poor returns compared to a full time career in something more conventional.
Casinos and the like are very powerful beings. True, the government will eventually take it's cut, but it will be careful not to destroy the industry in the process. It's like fishing. You never fish a lake dry. The goverment is not stupid. They will not suddenly seize 100% of the money that exists in online gambling and force everyone to get real jobs, because then next year their revenue will be exactly 0.
Essentially this, roughly for every 20 people recruited:
15 people will be in audit and 60% will leave within 4 years
3 will go into tax
1 will go into transaction services
1 person (probably less) will go into "consulting" roles
So getting into an audit role is relatively easy, but other roles can be slightly harder.
Soldato
Castiel, I wouldn't bother trying to change their minds, at the end of the day they think they are making easy money by living online and playing poker, the UK goverment will bring in taxes as they have done in the US which will stop this but untill then just wish them good luck and point and laugh if their career choice lands them bankrupt.
KaHn
what worries me is if it they are no longer able to play poker for what ever reason.
And they have to get a 9-5 job like everyone else.
What will they put on their C.V for such a massive employment gap.
Would you tell a potential employer you used to play poker professionally as a career and made lots of money ?
Tournaments ARE massive luckfests. Example, last year. ~7000 entrants and some guy who has only ever played once before makes the final 9. This is why I play cash.
I play 8 tables because I crave more action. Not because I'm 'slow burning' and just playing aces. A common misconception is that you have to play boring to win. This is just not true. Once you figure out the difference between an eloborate bluff and just throwing money at the pot, you'll understand this.
If so, you don't play poker, poker plays you. but hey if you think it's your way to a steady 30k a year, more power to you
As much as I enjoy poker I wouldn't do it for a mere 30k. For that amount a real job would def be more rewarding for me, as I have a physics degree and could get something fairly interesting.
Listen the black market of the internet unaccountable money is a big problem and the government will sooner of later crack down on this.
Didn't think my comment would cause so much debate.
Lol at the person who was claiming a 9-5 job is as risky as poker because you can made redundant at any time, what an absurd comment. There are no two ways around it, if I could have a 9-5 job making the same money as I do now, I know which one I would choose.
Poker is a skill game, but obviously there is a lot of short term luck/gamble. If we play enough hands, the variance will start to even out (although there is debate about whether it truly evens out). You should exercise proper bankroll management so that when you do hit a "down-swing" you can just move down the states where you will be less effected by the losses until you can rebuild and move back up.
As Castiel said, for everyone who wins there is 5 or more that lose, thankfully this number is closer to 20. I read once that only 5% of poker players are actually long term winners. If it was that easy, and everyone could make money doing it, then no-one could make money and it would be unsustainable.
What pains me to see when playing is the newcomers who think they can just pull up to the table and make a million over night, they're normally the people who end up going home with less (sometimes a lot less) than they came with, and they're what keeps the poker "economy" alive. If everyone was a tough regular player, the edge would be so low that only the very best could make a small amount of money, and anyone would be stupid to try and do this for a living.
It takes a lot of time and effort to be a good player, constant studying/learning is required or you will just get left behind and will not be able to compete at a high level.
I don't play much online anymore, just because its too damn tough. There are so many regulars at the stakes I want to play that it just becomes unprofitable and I don't want to pour my time into something where I'm not making considerable money. That's the reason I have shifted my focus to playing live since I turned 18, there are a lot more "fish" with more money to lose.
Lol at the person who was claiming a 9-5 job is as risky as poker because you can made redundant at any time, what an absurd comment. There are no two ways around it, if I could have a 9-5 job making the same money as I do now, I know which one I would choose.
Poker is a skill game, but obviously there is a lot of short term luck/gamble. If we play enough hands, the variance will start to even out (although there is debate about whether it truly evens out). You should exercise proper bankroll management so that when you do hit a "down-swing" you can just move down the states where you will be less effected by the losses until you can rebuild and move back up.
As Castiel said, for everyone who wins there is 5 or more that lose, thankfully this number is closer to 20. I read once that only 5% of poker players are actually long term winners. If it was that easy, and everyone could make money doing it, then no-one could make money and it would be unsustainable.
What pains me to see when playing is the newcomers who think they can just pull up to the table and make a million over night, they're normally the people who end up going home with less (sometimes a lot less) than they came with, and they're what keeps the poker "economy" alive. If everyone was a tough regular player, the edge would be so low that only the very best could make a small amount of money, and anyone would be stupid to try and do this for a living.
It takes a lot of time and effort to be a good player, constant studying/learning is required or you will just get left behind and will not be able to compete at a high level.
I don't play much online anymore, just because its too damn tough. There are so many regulars at the stakes I want to play that it just becomes unprofitable and I don't want to pour my time into something where I'm not making considerable money. That's the reason I have shifted my focus to playing live since I turned 18, there are a lot more "fish" with more money to lose.
It hasn't stopped anything in America. The vast majority of online professionals still hail from the USA.
The latest bill they are trying to push through, the one which involves a potential 15 month blackout (which I'm assuming you are referring to), is actually SUPPORTED by the PPA (poker players alliance), because after the initial suffering it will provide a safe, regulated environment for online poker, which will be in everyone's best interests.
If this were to happen in the UK then there would definately be no 15 month blackout. The reason for this period is that the las vegas casinos want to set up online poker clients and monopolise the market, and it just so happened that the congressman behind the bill was backed into office by these casinos, so he is basically leading their hand to the cookie jar. So this situation could not possibly arise in the UK.