Is a $20K Bankroll Enough to Play Poker Full-Time?

WillyA

WillyA

New member
Hey everyone,
I recently quit my job and have nearly $40K saved up. My living expenses are quite low now, around $400 per month, and I don't have to worry about rent or something. I'm thinking about using half of it for playing poker full-time for a few months before I start job hunting again. Do you think a $20K is enough to play professionally during this period? Any advice or insights would be appreciated!
 
Absolutely not! Just put your time into finding another job. You won’t be rolled to play any meaningful stakes that could support you with that.
As for the mental game during a downswing, it’s like riding a roller coaster with a broken safety harness. One moment you’re up, feeling invincible, and the next, you’re plummeting into self-doubt and despair.
 
LoreyH said:
Absolutely not! Just put your time into finding another job. You won’t be rolled to play any meaningful stakes that could support you with that.
As for the mental game during a downswing, it’s like riding a roller coaster with a broken safety harness. One moment you’re up, feeling invincible, and the next, you’re plummeting into self-doubt and despair.
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absolutely agree, find another job and play poker for fun
 
WillyA said:
Hey everyone,
I recently quit my job and have nearly $40K saved up. My living expenses are quite low now, around $400 per month, and I don't have to worry about rent or something. I'm thinking about using half of it for playing poker full-time for a few months before I start job hunting again. Do you think a $20K is enough to play professionally during this period? Any advice or insights would be appreciated!
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Hey, here some points to consider:
-Risk Management: Understand bankroll management to safeguard your stake against losses.
-Skill Level: Be aware of the high skill level needed and the time commitment required for success.
-Financial Planning: Assess the sustainability of your plan, considering potential losses and unexpected expenses.
-Backup Plan: Have a contingency plan in case poker doesn't work out.
-Professional Guidance: Seek advice from a financial advisor for a better understanding of the financial implications.
Approach poker with clarity and strategy and good luck! 🍀
 
WillyA said:
Hey everyone,
I recently quit my job and have nearly $40K saved up. My living expenses are quite low now, around $400 per month, and I don't have to worry about rent or something. I'm thinking about using half of it for playing poker full-time for a few months before I start job hunting again. Do you think a $20K is enough to play professionally during this period? Any advice or insights would be appreciated!
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Are you out of your mind? $20K to try your hand at professional poker? Unless you've got a degree in game theory and the mental fortitude of a Buddhist monk, you're gonna get absolutely fleeced by the sharks at those tables. Poker's not some hobby you can just pick up - it's a cutthroat world full of math wizards and hustlers looking to take every last dime from naive amateurs like yourself. If you blow half your savings chasing some poker dream, you'll be living in a cardboard box before you know it. Do yourself a favor - quit while you're ahead, get a real job, and leave the poker to the pros before you end up completely broke and miserable. Trust me, I've been down that road... even more I'm still there
 
Pete said:
Are you out of your mind? $20K to try your hand at professional poker? Unless you've got a degree in game theory and the mental fortitude of a Buddhist monk, you're gonna get absolutely fleeced by the sharks at those tables. Poker's not some hobby you can just pick up - it's a cutthroat world full of math wizards and hustlers looking to take every last dime from naive amateurs like yourself. If you blow half your savings chasing some poker dream, you'll be living in a cardboard box before you know it. Do yourself a favor - quit while you're ahead, get a real job, and leave the poker to the pros before you end up completely broke and miserable. Trust me, I've been down that road... even more I'm still there
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Wow, Pete, that's a pretty harsh take. While I agree that $20K might not be enough for a sustainable poker career, I think there's value in pursuing one's passions. Maybe WillyA could start with lower stakes and gradually work their way up?
 
I'm with Pete on this one. Poker isn't just a game; it's a highly competitive field. The pros spend years honing their skills. WillyA, have you considered using that money for education or starting a small business instead?
 
Hey folks, professional poker player here. While $20K isn't ideal, it's not impossible to start with if you're truly skilled. The key is proper bankroll management and playing at the right stakes. WillyA, what's your experience level?
 
Thanks for all the input, everyone.
teKKonK said:
Hey folks, professional poker player here. While $20K isn't ideal, it's not impossible to start with if you're truly skilled. The key is proper bankroll management and playing at the right stakes. WillyA, what's your experience level?
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I've been playing recreationally for about 5 years, mostly online at low to mid stakes. I've had some success, but I know going pro is a different ball game.
 
wakk@ said:
WillyA, have you considered streaming your poker sessions on Twitch? It could be a way to supplement your income and build a following while you try out the pro life.
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Streaming is an interesting idea, but it adds another layer of pressure. Plus, showing your hands in real-time could be exploited by opponents. It's not as simple as it sounds.
 
What about playing poker part-time while job hunting? That way, you can test the waters without risking your entire savings. It's a more balanced approach.
 
Maybe WillyA could use some of that money to invest in poker training programs or coaching? Improving skills might be a better use of funds than jumping straight into pro play. 👨‍🎓
 
bamohe said:
Maybe WillyA could use some of that money to invest in poker training programs or coaching? Improving skills might be a better use of funds than jumping straight into pro play. 👨‍🎓
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Good point, bamohe. There are some great poker training sites out there. WillyA, have you looked into any of those? It could be a good way to level up your game before taking the plunge.
 
I still think it's too risky. What happens if you lose that $20K? You'll be left with only $20K for living expenses and job hunting. That cushion can disappear fast in today's economy.
 
Let's look at the math. If your expenses are $400/month, $20K gives you about 4 years of runway. But that's assuming you don't lose any money playing poker. Realistically, how long could you sustain losses before it becomes a problem?
 
PepaDad said:
WillyA, have you considered the tax implications of poker winnings? It's not just about making money; you need to factor in how much you'll actually keep after taxes.
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Good point. Also, don't forget about health insurance and other benefits you're giving up by not having a regular job. Those costs can add up quickly.
 
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