Friday, November 26, 2010

Is making money at poker practical?

Having spent a good 1.5~ years of learning and playing for fun, my online poker hobby's made around $5/hour according to Hold'em Manager from the latest 15,000~ hands. So the next big question is, how much sacrifice would it take to really dig into it and overcome all living expenses through poker alone?

Skills or luck

It's a whole lot like day trading, only small edges are visibly exploitable, and they require patience, discipline, and deep understanding of statistics. Luck determines short term winners/losers, but you definitely need skills to have the stats go in your favor in the long run (10,000 hands +).

2 + 2

Two Plus Two is probably the most well known poker forum today, and it's a little talked about culture of a lot of young people who make a lot of money. That's probably where I started looking into the idea.


I'm looking to take up coaching at Collin Moshman's group, they do both coaching and backing. It's a fair set up for the coaching deal, they only make $ as a cut off players' future profits so that everyone's incentive remains in line. They require potential "students" to play at least 10,000 hands/ week, this is doable via multi-tabling and well, time; it gets the law of large numbers to kick in sooner than later, and speeds up the learning curve like CRAZY.

OK, yeah I've just talked myself into giving it a shot!

0 Reflections: