The Harsh Truths About Becoming a Professional Poker Player

The author recently spoke at the Discovery conference in Toronto, organized by the Council on Responsible Gaming. During the event, he was asked about the feasibility of becoming a professional poker player, particularly by those struggling with gaming addiction. The author advises being honest with young people about the difficulties of professional poker, emphasizing that it is a serious business that requires dedication and skill.

Professional poker players are essentially small business owners who entertain clients. The author suggests that professional poker players should have a clear vision and financial goals. For example, a vision might be: "Poker is my means to a comfortable life. It is my opportunity to fully devote myself to learning, developing, and perfecting my skills while bearing financial responsibility." This vision should be personal and something the player can return to throughout their career.

To achieve financial goals, the author calculates that playing poker professionally requires a significant amount of time, including both playing and studying. For instance, to earn $100,000 a year, a player might need to spend over 100 hours a week at the poker table and an additional 14 hours a week studying. This leaves little time for other activities, including sleep. The author suggests that a more realistic annual income goal might be $50,000, which after taxes and expenses, leaves little room for financial comfort. The author discusses the challenges of maintaining a bankroll and dealing with financial setbacks, such as unexpected expenses or the need to borrow money. Finding a backer to support a poker player financially is mentioned as a possibility, but it comes with its own set of challenges and risks.