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#26 2016-05-30 19:13:27

Stoic Phoenix
Silver Stacker
From: little things big things grow.
Registered: 2014-11-12
Posts: 3,024
Trades :   187 
Website

Re: Professional Poker

sammysilver wrote:

That'll cost you $5 for me reading your post.

Just take it off the tab you have run up with me reading your calls on silver prices that have ended up being "bad beats" tongue


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#27 2016-05-30 20:35:18

sammysilver
Silver Stacker
From: Sydney
Registered: 2011-04-07
Posts: 5,488
Trades :   189 
Website

Re: Professional Poker

Stoic Phoenix wrote:
sammysilver wrote:

That'll cost you $5 for me reading your post.

Just take it off the tab you have run up with me reading your calls on silver prices that have ended up being "bad beats" tongue

....sometimes you can catch several people out overplaying hands before they even cotton on if they think you have no idea what you are doing.


The price we pay for the good life is public servitude.

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#28 2016-06-06 03:05:43

brisbanecoin
Silver Stacker
From: Australia
Registered: 2011-02-24
Posts: 724
Trades :   125 

Re: Professional Poker

Why not just jump on Pokerstars load up a $100 and see how ya go?  If you make enough each day then it could be worth it to do!  (If living expense is cheap and you can access the money easily)

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#29 2016-06-07 01:58:59

REDBACK
Silver Stacker
From: Trump supporters matter
Registered: 2011-11-22
Posts: 3,314

Re: Professional Poker

brisbanecoin wrote:

Why not just jump on Pokerstars load up a $100 and see how ya go?  If you make enough each day then it could be worth it to do!  (If living expense is cheap and you can access the money easily)

Agree with this just do it and chalk it up as a life experience and see where it goes.
Ran businesses as a kid and made lots of money played poker hard from 13 to 19
When Texas Holdem came along i thought piece of cake and got smashed at my first 10 events,the betting strategies were savage compared to what i was used to and i had to re learn the game.
Reading other players betting and strategic betting is a big part of Texas so play as many low level pub games as you can to get experience.In Victoria thats easy as there are events everywhere and lots of cash games where you can make decent money.
I stay away from casino's thats another league entirely
Effort =Reward but most of  all you have to love the game
Set yourself a strict limit per cash game,events are easier as there is a set buy in so you can't go home crying.
Also be prepared to lose and bet the cards don't pray on the cards.
Learn the phrase "Shiet happens" if your straight gets beaten by a flush and you bust out lol
My most satisfying win was a memorial cup game held every year at the anniversary of a well known local poker players death
The previous year i played and attended out of respect because i was so sick.The finals were at 4am in the morning by which time i was totally wrecked.It ended up as a grudge match between myself and a husband and wife team(who were renowned local players) i left the table having the largest stack with only the 3 of us left and they by default came away with the cash and trophy.
The next year i knocked the husband and all his cronies out and came up against his wife in the final.
She got smashed in the first hand all in.That was the last year they held the game and the trophy still takes pride as my most valuable possession.

Regards

Soz for the memory lane

REDBACK


"Buy now Cry later!!"

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#30 2016-06-07 03:31:41

Htu08
Member
From: Australia
Registered: 2013-06-16
Posts: 210
Trades :   32 

Re: Professional Poker

A good LIVE cash game player can make around 10-15bb/hour or so depending on structure of buy in and stack depth, over a large sample size, at low stakes no limit holdem. I don't play much PLO so couldn't tell ya.

A good online cash pro makes around 5bb/100 (100 hands played) or so depending on structure of buy in and stack depth, over a large sample size.

If you work out the stakes, you can work out the hourly.
(casinos generally offer $1/2 NLHE all the way to 5/10/20 or 50/100 around here)

Obviously its extremely hard and the poker boom is close to over, with live poker being imo, the best place to make money.

(Funnily enough, I play quite a bit of poker at the moment, have over 2,000 hours logged in the last 18 months and am trying to find a new way to make money because it's such a grind)


I would definitely google "live low stakes no limit" or something similar to find a poker forum! there is tons of advice given there.

one big consideration tho is that poker income isn't taxed in Australia, so earning 75k per year is the equivalent of earning 100k taxed.

Last edited by Htu08 (2016-06-07 03:34:47)

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#31 2016-06-08 11:37:52

Bargain Hunter
Member
From: Sydney, Australia
Registered: 2010-07-11
Posts: 732
Trades :   18 

Re: Professional Poker

Htu08 which city do you live in?


"Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson
"You only find out who is swimming naked when the tide goes out" --Warren Buffett
"These days man knows the price of everything, but the value of nothing" --Oscar Wilde

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#32 2016-06-08 16:41:51

Oldsoul
Member
From: Aghartha
Registered: 2014-06-11
Posts: 1,187
Trades :   

Re: Professional Poker

Bargain Hunter wrote:

I wanted to hear from members on this forum about their thoughts on trying to make money from poker as a side income.

From articles I have read on the internet online poker is getting increasingly competitive with each passing year. However the lowest limit tables (good players don't bother with these tables therefore not as competitive) still possibly offer a profit opportunity due to the higher ratio of amateurs to professionals.

How realistic is it for an average guy with average intelligence and average mathematical ability who reads books about poker strategy, uses the right tools and software and plays daily for 6 months to become good enough to earn a side income from online poker? The strategy would be to play sit and go poker online on the lowest limit tables whilst playing multiple hands at a time. The goal is to win money from amateurs a.k.a. 'fish'.

I understand the concept of variance, but how possible/likely is it over the long run for Mr. Average to make say an average hourly rate of $5 - $10 AUD? While it does not sound like much it allows you to be location independent and live in cheap countries (think South East Asia or South America or Eastern Europe).

Also what about applying the concept to playing at low limit tables at physical casinos where less professionals tend to play (because they can play more hands/tables at once by playing online)?

What makes you think the cards are dealt fairly?

I honestly could not tell you how bad an idea I think this is. I've seen lives ruined by online gambling and if you are even beginning to think this way stop playing online poker immediately you are entering full blown justification of addiction (you do it for a living, you are a professional etc). You are being lied to by an industry that will happily see you in the gutter before you even being to cop on to how daft you have been.

Last edited by Oldsoul (2016-06-08 16:42:58)


"I will show you fear in a handful of dust." t.s. eliot

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#33 2016-06-09 05:27:26

Bargain Hunter
Member
From: Sydney, Australia
Registered: 2010-07-11
Posts: 732
Trades :   18 

Re: Professional Poker

Old soul I have not been playing Poker at all. I was merely asking everyones opinion as to the viabilitynof it as a potential money maker.


"Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson
"You only find out who is swimming naked when the tide goes out" --Warren Buffett
"These days man knows the price of everything, but the value of nothing" --Oscar Wilde

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#34 2016-06-09 05:56:43

Stoic Phoenix
Silver Stacker
From: little things big things grow.
Registered: 2014-11-12
Posts: 3,024
Trades :   187 
Website

Re: Professional Poker

^Thats easy to answer.
Its the same as anything, there is a fair chance IF YOU KNOW WHAT YOU ARE DOING but even that is no guarantee.


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#35 2017-03-31 02:00:34

undftd
Silver Stacker
From: Brisbane
Registered: 2011-08-03
Posts: 710
Trades :   111 

Re: Professional Poker

My advice is, your time is not worth it.

Better spent with a second job, as your hourly playing poker at any stakes less than $1-2 Blinds-  No Limit ($200 buy in).

Game is far too tough to beat, even pro's are stuck at making ~4 Big blinds profit ($8 at above example) after rake is factored in, per 100 hands.

They multi-table to earn just better than a wage at that stake, and accept huge amounts of financial stress, as there is much variance with poker, even if you are the best player in the world, you will go on loosing streaks due unavoidable due to pure probability.

If you do want to try, my advice would be start learning the game at 1c-2c blinds ($2  buy in)

Bankroll management i would allow for 30 buy ins ($60 USD).

Once you have played enough, and starting to win regularly, and get up to $120USD, move to 2-4c  blinds ($4 buy ins).

And as soon as you have 30 buy-ins for the next level, move up.

If you lose, move back down.

I think it can be fun as a hobby, if you have spare time, and accept you won't beat the average hourly from just working.

Try to sign up to a RAKEBACK site to help increase your profitability.


Anyone with experience with buying units - beer/food for advice

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#36 2017-03-31 02:20:24

BuggedOut
Member
From: New South Wales
Registered: 2015-07-21
Posts: 1,797
Trades :   39 

Re: Professional Poker

It's a bit late for this now.

Online poker effectively banned in Australia now since the passing of the Interactive Gambling Amendment Bill 2016.  Only the shady operators will remain.

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