Ryan Carter

The thought of going pro has crossed the minds of every person who has ever won at poker. Day dreams of flipping the boss the bird as you storm out to live the life of a poker pro are probably very common to members of this site. Spending your day stacking chips is way more exciting than sorting files, stocking shelves, and whatever else those 9-5 folks have to put up with.

However, with that excitement comes a certain amount of risk. It's not easy to mentally prepare yourself for the swings poker will throw at you, and if you don't preform your best you're going to come home empty handed. With a 9-5 you can make a mistake, and while you might hear some grumbling from your 3 bosses, your job will usually be safe. A 9-5 gives you the security in knowing your pay check will come the 1st and 15th, each and every month. That's something poker cannot offer.

Being a poker pro is all about knowing these risks, embracing them, and coming up with a plan to work around them. When someone asks me if I think they're ready to go pro the first thing we discuss is their situational risk tolerance. This is simply how much risk their personal living situation can handle. Once we figure that out it's very easy to determine what size bankroll, how much savings, and how much proof of being a winner are necessary before you take the plunge. This will be different for everybody. A college student is going to have a much higher risk tolerance than a 35 year old guy with a wife, 2 kids, and a mortgage. I'm going to profile 3 potential poker pros to show you how different risk factors can influence the requirements for going pro.

College Grad

Your four years of school might have been a beer filled haze, but after getting that diploma you seem to remember that all the beer was bought with money won at poker. You probably got a degree in something silly like "history", "English", or "communications" where you can't actually just walk out of school and find your dream job. The thought of waking up whenever you want each morning, rolling out of bed, and making a few hundred dollars playing poker in your underwear sounds pretty appealing. The only problem is you have everyone you know telling you to go out and get a real job. I mean, that's why you went to school... right? Influential people in your life might try to convince you that nobody is going to hire someone who takes some time off after they graduate, especially if they spend that time playing poker.

The fact of the matter is, that is total bullshit. If this is you there is no better time to take the plunge then now. You are young, have few expenses, nobody who depends on you, and if it doesn't work out there is always that nice shiny diploma that's supposed to be your ticket to a job. While many might see a failed attempt at a poker career a blemish on your resume, I see it as something that will set you apart from the crowd. Being a poker player develops many of the skills necessary to make it in corporate America that they just don't teach in school. Your potential boss has probably played poker before, and your tales of a career in poker are going to sound a lot more interesting than his boring job. Your boss is going to find you so interesting that he can't help himself to want you around.

If you already have a decent bankroll, and a little money saved up, there is almost no risk in giving poker a try. If it doesn't work out you can pick up where you left off without even blinking an eye. Since you don't have to provide for anyone but yourself you can get started at a much earlier stage than anyone else. You don't need as big a bankroll or as much money saved up as some of the people we will be talking about next.

If you fit this description I would suggest at least 6 months records of being able to beat at least $50NL, a $3000 bankroll, and 3 months living expenses saved in the bank.

Newly Wed

You've just married the woman of your dreams, and the only thing holding you back from the perfect life is the job you hate waking up to every morning. Luckily you married an amazing woman who doesn't only just tolerate your poker play, but encourages you to play the hobby you enjoy so much. You've been owning up the online cash games for a while, and are beginning to make enough money that staying at your current job seems silly. You tell your wife that you are considering leaving corporate America for the online poker world. Since you have this amazing wife she doesn't immediately shoot you down, but she is obviously concerned about the situation. How are we going to handle not having a steady pay check? What about health care? What if we want to have children in the future? If you are serious about taking the plunge these are the sort of questions you must be prepared to answer. Remember, you're not the college bachelor anymore; you now have someone else to take care of as well.

The newly wed has many more responsibilities than the college grad, so his risk tolerance is much smaller. Going broke really isn't an option anymore. This is something you must be certain of, and your bankroll and bank account need to reflect that. You should have at least one year of records showing you are a winning player, preferably with at least 3-6 months of being a semi pro. The minimum level you should be playing is $100NL, but obviously $200NL+ would be better. This means the minimum bankroll will be $5000. Since you have more responsibilities you will need to increase your saved living expenses to at least 6 months.

Another change from the college grad is you must now prepare an exit strategy. Some people will go pro and find out it's just not for them. You must make sure you come to this realization well before your living expenses run out. When you leave your current job try not to burn too many bridges, in order to set up a possible return. This is obviously worst case scenario, but sometimes things don't work out as planned. If you ever get to the point where you only have 2 months living expenses saved it is time to start looking for a job again. This will allow you to provide for your new family, while leaving yourself an opportunity to try again in the future. Don't wait until you go busto to get a new job. This isn't fair to your significant other and will leave you with no chance of ever taking another shot.

Family Man

Finally we come to the family man. You have two beautiful children and a lovely wife. Life should be good, but you feel like there is something missing. Maybe it's your mid life crisis, or just 30 years working for the man finally adding up, but it's time for a change. You've been playing poker for years, and have been fairly successful. You want to make the jump from working man to full time pro, but is it too late? I am going to very honest here, this is by far the hardest situation to begin a career as a poker pro. You now have two little people who are 100% dependent on you. If you're going to play poker for a living you damn well better be sure it's going to work out. Not only will you need conclusive data that you're a winning player, but you're going to have to plan every contingency.

My suggestion is that you spend a minimum of one year playing poker as a semi pro. Keep strict records of your results and consider the idea of going pro only after you've proven to yourself you can do it long term. You will also want to have a massive bankroll and plenty of extra savings. I would only consider going pro if I could easily beat $200NL and had a bankroll of $12,000. I would also not take the plunge without 9-12 months savings in the bank. This might seem extremely nitty, but when you're responsible for a family you can't be too careful.

Being a poker pro can have an enormously positive impact on your family life. You will have more free time to spend with them, and you will be able to provide them a great living with your winnings. If you are considering it you just have to remember that you have no risk tolerance in this situation.

I think the moral of this article is if you are considering the life of a pro poker player do it while you have very little responsibility other than yourself. This will allow you to take some more chances than if you where forced to think about your family as well. It is certainly possible for anyone to start a career in poker, but when planning the move you must consider your risk tolerance and plan your bankroll management strategy around that.

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