Monday, September 05, 2005

Going Pro: Week 6 and 7

Today marks the end of the seventh week that I've been playing for a living. It feels like I am turning a corner now and this is moving from experimentation to reality. I got some amazing feedback last week from readers and did a lot of soul searching the last several days. I have decided to close down the office as the $1200+ per month it costs to keep it open is probably greater than the EV I am gaining from the positive benefits of coming here to play everyday. Also as some friends pointed out, I can always get another smaller office in a few weeks or a month if working and playing from home doesn't work out.

I am just a little hesitant to work from home as my first job out of college as an outside sales rep included doing a lot of work from home, and I didn't like it much at all. I hardly ever left the house, didn't eat healthy or exercise and generally hated it. Though things are different now in other areas of life (I didn't know anybody in that area, didn't have a girlfriend, didn't have all that much disposable income or even a car...) so it is very possible that I could try it again and have a good experience.

The last ten days were absolutely phenomenal financially. I started 8-tabling the 109's and from the first set I have been on a massive heater. Through today's play I have only not profited in 2 sets, one of them a $372 loss and the other a $172 loss. In the win column I have multiple sets that profited more than $1,000 and many others that profited more than $500. All in all in just under 20 hours of play, I am showing a $6200 profit. It literally feels like it is raining money with things going like this at this level of play.

I have gotten very aggressive with my investing and saving, otherwise I'd probably be getting very aggressive with my spending ;) I am currently keeping 30 buy-ins between my two accounts, and pulling off everything else and putting it into stocks and savings. I highly reccomend anybody else lucky enough to have significant poker earnings going through their till do the same. At 24 I am probably one of the senior online pro's, I know if I was to have the kind of money I have now a couple of years ago I would have blown a great portion of it. The book 'Rich Dad, Poor Dad' as well as 'The Millionaire Next Door' and 'The Intelligent Investor' have helped me a great deal in managing and growing money. This poker boom may not last forever, and if and when it ends, I want to make sure I have something to show for it, and options available to me outside of tending bar or taking an entry level sales job.



I have had to adjust my game to the better players at the 109's and am still tweaking that part, but I am very optimistic I can play and win at this level. Rakeback alone is $18 per set currently, and once we get our group up to $50,000 in revenue per month that will be $21.60 per set. My goal is to hit 10% ROI, that totals to over $100 per hour. I'm going to say that one more time....that is over one hundred dollars per hour lounging in front of my beautiful monitors in a giant papasan chair listening to Jack Johnson and working whenever I damned well please.

Things going great with the girl and I'm telling her more and more about the poker thing, told her I plan on closing the office and have been telling her when I'm playing poker as opposed to lying and saying I'm 'at work'. I haven't actually said 'I am playing poker professionally' but she gets the hint I think. I think.

Thanks again for all the great feedback guys, positive and negative. Feel free to rip into me as you see fit. Also feel free to email me with any questions about poker, rakeback, bonus whoring or anything else.

Thanks for reading, now get back to the tables!


Wild Bill


wfdean@hotmail.com