Professional poker player

[JohnyRI]

I've seen that the players on ESPN and the Travel Channel often list
professional poker player as their occupation. Exactly what qualifies
a player as a professional? Do you have to have made a certain amount
of money this year or in your career? Do you have to have won a
tournament?
Another question that I have is how much money is reasonable to try
and make per session as a good to very good limit Texas Hold 'em
player. It doesn't seem unreasonable to expect to come out ahead a
few hundred, unless the cards are running really bad.
Please advise I can't wait to quit my job.

[Scott Seidman]

jrisica@displayworldinc.com (JohnyRI) wrote in
news:b9536176.0308071029.5c4a37f5@posting.google.com:

> I've seen that the players on ESPN and the Travel Channel often list
> professional poker player as their occupation. Exactly what qualifies
> a player as a professional? Do you have to have made a certain amount
> of money this year or in your career? Do you have to have won a
> tournament?
> Another question that I have is how much money is reasonable to try
> and make per session as a good to very good limit Texas Hold 'em
> player. It doesn't seem unreasonable to expect to come out ahead a
> few hundred, unless the cards are running really bad.
> Please advise I can't wait to quit my job.
>

I'm not quite sure (but that's not gonna stop me from answering). A friend
of mine was a "professional dart player" and I know why he went and did
that.

You can call yourself a professional, and never make a cent (at least for
awhile before the IRS gets pissed). Once you play poker professionally,
entrance fees and travel expenses are now business expenses, and come off
the top of your gambling earnings.

Scott

[James Campbell]

I think if you are unemployed and only generate income from playing poker
you qualify...

"JohnyRI" <jrisica@displayworldinc.com> wrote in message
news:b9536176.0308071029.5c4a37f5@posting.google.com...
> I've seen that the players on ESPN and the Travel Channel often list
> professional poker player as their occupation. Exactly what qualifies
> a player as a professional? Do you have to have made a certain amount
> of money this year or in your career? Do you have to have won a
> tournament?
> Another question that I have is how much money is reasonable to try
> and make per session as a good to very good limit Texas Hold 'em
> player. It doesn't seem unreasonable to expect to come out ahead a
> few hundred, unless the cards are running really bad.
> Please advise I can't wait to quit my job.

[Paul L. Schwartz]

"JohnyRI" <jrisica@displayworldinc.com> wrote in message
news:b9536176.0308071029.5c4a37f5@posting.google.com...
> I've seen that the players on ESPN and the Travel Channel often list
> professional poker player as their occupation. Exactly what qualifies
> a player as a professional? Do you have to have made a certain amount
> of money this year or in your career? Do you have to have won a
> tournament?
> Another question that I have is how much money is reasonable to try
> and make per session as a good to very good limit Texas Hold 'em
> player. It doesn't seem unreasonable to expect to come out ahead a
> few hundred, unless the cards are running really bad.
> Please advise I can't wait to quit my job.

The IRS has certain requirements for filing as a professional player that
allow you to deduct certain expenses that recreational players cannot
deduct. As far as ESPN goes I suspect all you have to do is tell them you
are a professional player.

An average win rate of 1 big bet per hour is considered a reasonable
benchmark for an expert player.

Paul

[Tom Weideman]

On 8/7/03 11:29 AM, in article
b9536176.0308071029.5c4a37f5@posting.google.com, "JohnyRI"
<jrisica@displayworldinc.com> wrote:

> I've seen that the players on ESPN and the Travel Channel often list
> professional poker player as their occupation. Exactly what qualifies
> a player as a professional? Do you have to have made a certain amount
> of money this year or in your career? Do you have to have won a
> tournament?

It requires the same qualifications that so many people had who declared
themselves to be "day traders" back in late 90's.

> Another question that I have is how much money is reasonable to try
> and make per session as a good to very good limit Texas Hold 'em
> player. It doesn't seem unreasonable to expect to come out ahead a
> few hundred, unless the cards are running really bad.
> Please advise I can't wait to quit my job.

Depends upon the limits you play. But let's say you play 10-20, and you're
pretty good. Then for an 8-hour day of work in a casino (or the equivalent
number of hands in an online card room), you can generally expect to win
between +$1250 and -$950 each day (i.e. 95% of the time your results will
fall between these numbers). Perhaps it isn't unreasonable to expect to win
a few hundred, but that won't be your average (for 8 hours of 10-20 the
average is about $150 - if you in fact do play well), so you can't compare
what's "not unreasonable to expect" with your paycheck, especially if your
bankroll can't handle the inevitable downturns.

I think you should focus your energy on finding a job you like first, then
get some more poker experience in your spare time. I don't know you from
Adam, but if I were forced to make an even money bet, I'd wager your
bankroll was too small, and you don't play well enough to do it for a
living.


Tom Weideman

[minus200]

like any other profession - your income is derived from that profession

for me I am a professional KENO player that loses money playing poker part
time

JohnyRI wrote:

> I've seen that the players on ESPN and the Travel Channel often list
> professional poker player as their occupation. Exactly what qualifies
> a player as a professional? Do you have to have made a certain amount
> of money this year or in your career? Do you have to have won a
> tournament?
> Another question that I have is how much money is reasonable to try
> and make per session as a good to very good limit Texas Hold 'em
> player. It doesn't seem unreasonable to expect to come out ahead a
> few hundred, unless the cards are running really bad.
> Please advise I can't wait to quit my job.

[Eric Lindholm]

> for me I am a professional KENO player that loses money playing poker part
> time

LOL. Guess you should stick to the games you can beat, then. Have you
thought about roulette?

[Gary Carson]

Unlike most , when I was a professional poker player, I didn't sleep
in my car. I had a friend who had a car and I slept in his.



On 7 Aug 2003 11:29:12 -0700, jrisica@displayworldinc.com (JohnyRI)
wrote:

>I've seen that the players on ESPN and the Travel Channel often list
>professional poker player as their occupation. Exactly what
qualifies
>a player as a professional? Do you have to have made a certain
amount
>of money this year or in your career? Do you have to have won a
>tournament?
>Another question that I have is how much money is reasonable to try
>and make per session as a good to very good limit Texas Hold 'em
>player. It doesn't seem unreasonable to expect to come out ahead a
>few hundred, unless the cards are running really bad.
>Please advise I can't wait to quit my job.

Gary Carson

[jarrett40]

jrisica@displayworldinc.com (JohnyRI) wrote
> Exactly what qualifies
> a player as a professional?

All you have to do to be a professional is to say that you are one.It
helps to have a good business or pumping oil wells or a wife with a
good job.A lot of the old time players had a booking operation pumping
money to them.You can make some great plays when the pressure's off.

jarrett40

[Tad Perry]

"Tom Weideman" <no_spam_i@hortas_rule.net> wrote in message
news:BB57F306.B330%no_spam_i@hortas_rule.net...
>
> > Another question that I have is how much money is reasonable to try
> > and make per session as a good to very good limit Texas Hold 'em
> > player. It doesn't seem unreasonable to expect to come out ahead a
> > few hundred, unless the cards are running really bad.
> > Please advise I can't wait to quit my job.
>
> Depends upon the limits you play. But let's say you play 10-20, and
you're
> pretty good. Then for an 8-hour day of work in a casino (or the
equivalent
> number of hands in an online card room), you can generally expect to win
> between +$1250 and -$950 each day (i.e. 95% of the time your results will
> fall between these numbers).

Tom,

I'm asking this in the tone that I wish I was able to receive from you and
your poker friends. What percent of the time will this winning player (with
all the same assumptions) be ahead 1000+ within 6 to 8 hours?

It's happened to me twice in the last 15 sessions at this limit.

tvp

[RTN4]

On 7 Aug 2003 11:29:12 -0700, jrisica@displayworldinc.com (JohnyRI)
wrote:

> Exactly what qualifies
>a player as a professional?

51% of your income comes from poker.

[minus200]

machines are for the tourist

lvdlrs wrote:

> minus200 wrote:
> > like any other profession - your income is derived from that profession
> >
> > for me I am a professional KENO player...
>
> Machines or live action?
>
> Gary (...) Philips