Tantalar 0 Posted August 8, 2006 Share Posted August 8, 2006 Hey all! you know that moment when you win something really big and feel that it is a big step toward your goal of turning pro? That big tournament win that really helps out your bankroll? Well heres the situation.As none of you probably know, I have been playing $5 and $10 tournaments on Ultimatebet.com. My net winnings from TOURNAMENTS online have reached nearly $6,000 in roughly a year. I has $900 in winnings on Pokerchamps but lost it in cash games from poor bankroll management. I won $750 on ultimatebet and cashed out most of it. I won a few more $5 dollar tournaments, and a few SNGs... Ive grown as a player quite a bit. Ive read most of the big name books. Ive been a member of FCP for probably close to a year, and ive read tons of forum posts online. I read a lot but rarely post. Anyway, I had been doing well in the cash games. I play primarily Limit omaha high low 8. It, along with stud 8 and no qualifier for low are my favorite games. Im not one of those typical "I only play NLH" players. I love every type of game, and feel confident and very strong playing poker. I play mostly $1/$2 and now $2/$4 limit omaha high low online.a few days ago I entered a $30 tournament on UB and won it! I got first place out of 450ish people and won $3,350. Now I have a solid bankroll to work with. My last online bankroll was kinda spent on college/food/summer stuff.My question is... what tournaments should I be buying into with this type of a bankroll? Should I go for the $30 tournaments now? Or stick to the $10 tournaments? I would assume I shouldnt go higher than $30 if at all... but I am quite a good tournament player. I have been very sucessful in tournament poker. What's the next step? And lets say that in a year from now, my total profits reach over $10,000 in poker from grinding out these $10,$20 and $30 tournaments... At what point can you write down on that you are a "Professional poker player" So that you dont have to pay as much in taxes as you normally would? At what point would it be worthwhile to do that? Does anyone on the forum besides DN have knowledge about this? I record all my wins and losses in a log book. Ive been a moderate to big winner in cash games, and a big winner in tournaments. Any advice is greatly apreciated! Link to post Share on other sites
GeneralGeeWhiz 0 Posted August 8, 2006 Share Posted August 8, 2006 Don't listin to me, but I would start playing higher stakes. 50 dollar buy in tournys... etc Link to post Share on other sites
bengy3 0 Posted August 8, 2006 Share Posted August 8, 2006 I recommend you withdraw your entire bankroll and spend it on pottery lessons. Link to post Share on other sites
XX44466XX 0 Posted August 8, 2006 Share Posted August 8, 2006 Buy yourself a bigger, better kiln. Link to post Share on other sites
alf13 0 Posted August 8, 2006 Share Posted August 8, 2006 It seems that you have become a MTT donkey..(not a bad thing)You need to set yourself a schedule...and not play tournaments on a whim...play them on a schedule.Set aside a roll for these tournaments...and move up in stakes.Set aside after a profitable month...one buyin for one mtt that would be a step into the next level so you can see what the players are like at that level.Grow the roll...TP/MM. Link to post Share on other sites
Loismustdie 0 Posted August 8, 2006 Share Posted August 8, 2006 Don't listin to me, but I would start playing higher stakes. 50 dollar buy in tournys... etc No. Link to post Share on other sites
Tantalar 0 Posted August 8, 2006 Author Share Posted August 8, 2006 Im entering the $10+ $1 midnight UB tournament, Whos with me!!!!???? Link to post Share on other sites
XX44466XX 0 Posted August 8, 2006 Share Posted August 8, 2006 GL Harry. Link to post Share on other sites
StrippersNBlow 0 Posted August 8, 2006 Share Posted August 8, 2006 I recommend you withdraw your entire bankroll and spend it on strippers and blow.FYP Link to post Share on other sites
Gooser 0 Posted August 8, 2006 Share Posted August 8, 2006 i dont really know if you can go and say youre a professional poker player on 10k a year much less live off 10k a year......on the mtt front, id say step up in your buyins a bit and test the waters...also, if youre good at big fields try the bigger sites...i bought into a 20 buy in on party which was 40k guaranteed and made a deal out of the top 3 for 6k each. Granted, its a very large field and i dont know if youre comfortable stepping up from 450 people to 1500 people but a 40k guaranteed pool for 20 buy in is not easily found Link to post Share on other sites
Tantalar 0 Posted August 8, 2006 Author Share Posted August 8, 2006 Yeah I wish I could do a MTT that had a lot of players in it, and had a good blind structure. I really dont understand why nobody offers a tournament structure like... 20 minute levels. That would be awesome. I for one would play on that website. I might be making a pokerstars deposit but im not sure quite yet. Id imagine though... that it would be SIGNIFICANTLY harder to win a tournament that has over 1,500 people in it... because youd have to buy in a lot more times, so youd need a bigger bankroll than say... a 450 person tournament, right? Link to post Share on other sites
NOFX_PUNK 0 Posted August 8, 2006 Share Posted August 8, 2006 Yeah I wish I could do a MTT that had a lot of players in it, and had a good blind structure. I really dont understand why nobody offers a tournament structure like... 20 minute levels. That would be awesome. I for one would play on that website. I might be making a pokerstars deposit but im not sure quite yet. Id imagine though... that it would be SIGNIFICANTLY harder to win a tournament that has over 1,500 people in it... because youd have to buy in a lot more times, so youd need a bigger bankroll than say... a 450 person tournament, right?There's not a huge amount of traffic there but you might wanna check out bugsysclub.com the MTTs there start with 10k chips like the Main Event at 50/50 blinds (I think). Anyhow, take a peek for a different structure! Link to post Share on other sites
nell789 0 Posted August 8, 2006 Share Posted August 8, 2006 Buy yourself a bigger, better kiln.subtle, but effective. nice. Link to post Share on other sites
fleung22 1 Posted August 8, 2006 Share Posted August 8, 2006 Although winning $10K in a year by playing strictly $10 buy-ins is pretty impressive you're WAYYYYYY off from getting the "pro" title. At least try some higher limits...$20 and $30 games shouldn't be that big a jump.BTW...Pro indicates that you profit enough to pay for all your life's expenses without blowing the bankroll. By the time you're a pro you won't have to ask the question. Link to post Share on other sites
Gooser 0 Posted August 8, 2006 Share Posted August 8, 2006 Yeah I wish I could do a MTT that had a lot of players in it, and had a good blind structure. I really dont understand why nobody offers a tournament structure like... 20 minute levels. That would be awesome. I for one would play on that website. I might be making a pokerstars deposit but im not sure quite yet. Id imagine though... that it would be SIGNIFICANTLY harder to win a tournament that has over 1,500 people in it... because youd have to buy in a lot more times, so youd need a bigger bankroll than say... a 450 person tournament, right?A lot of sites (pstars in particular) have deep stacks tourneys that start off with a bunch more chips and a better structure. In regards to the fact that its more challenging to win a 1500 vs a 450, this is true. But, if youre confident in your play and get lucky on some coin flips, theres a lot more oppurtunities to get your stack bigger and bigger. I do agree however that its a challenge with the larger fields, you need the luck with you at key points (e.g. my qq not getting busted all in by 66 preflop ALL THE TIME)GL to you sir, but i suggest you keep a dayjob to keep the bankroll going (i always like guaranteed money...you wont open your paycheck and say "oh crap i got rivered!"...unless its by the taxes) - also, noone can live off 10k a year. but its certainly a comfy bonus Link to post Share on other sites
stevedar 0 Posted August 8, 2006 Share Posted August 8, 2006 I thought his point wasn't whether or not he should do it for a living but whether he should claim to be a professional for tax purposes. If that is the case my opinion is no since the difference in tax on 10k can't be that much whether amateur or pro.If you're asking whether you should play pro for a living that's up to you...I would say no but risk nothing get nothing Link to post Share on other sites
XX44466XX 0 Posted August 8, 2006 Share Posted August 8, 2006 Bugsys ain't bad but despite the structure, it still plays out pretty fast, because I had thought the same thing too. But you can get some decent overlays because there's not a ton of traffic. Link to post Share on other sites
Tantalar 0 Posted August 8, 2006 Author Share Posted August 8, 2006 I actually am living at home, going to community college... so all my living expenses are actually being covered by poker, and my job at the supermarket.... but I think im going to actually make more money from poker than at that job. But yeah. I need to check out the deepstack tournaments Link to post Share on other sites
XX44466XX 0 Posted August 8, 2006 Share Posted August 8, 2006 I actually am living at home, going to community college... so all my living expenses are actually being covered by poker, and my job at the supermarket.... but I think im going to actually make more money from poker than at that job. But yeah. I need to check out the deepstack tournamentsAt Bugsys they are not Deepstacks in that sense because the blind structure matches the bigger starting stacks as does the action. Go to Stars or FT for DS tournies but minimum buy-ins are usually around $30. Bob mentioned the possibility of adding DS tournies here at FCP, lets hope that happens.And don't quit yer job. Link to post Share on other sites
Gooser 0 Posted August 8, 2006 Share Posted August 8, 2006 hey man, im with ya...im in college and basically all my crap is covered too. My main point was that keepign that supermarket job is clutch. I made a 350 paycheck for 2 weeks of 35 hour work at my lab and 300 bucks in a day of poker. Alls im saying is that when you go on a sore streak (it happens), its nice ot have that paychecks coming in with guaranteed money as opposed to donk's taking all your cash on bad beats.edit: im not an accountant but my theory is that if your living at home (and a student), that youre a dependent and couldnt be "a pro poker plater tax-wise" in which case all your money is qualified as miscellaneous earnings (thats what my cpa said at least) ... he estimated theyd take 20% of my winnings. Link to post Share on other sites
XX44466XX 0 Posted August 8, 2006 Share Posted August 8, 2006 hey man, im with ya...im in college and basically all my crap is covered too. My main point was that keepign that supermarket job is clutch. I made a 350 paycheck for 2 weeks of 35 hour work at my lab and 300 bucks in a day of poker. Alls im saying is that when you go on a sore streak (it happens), its nice ot have that paychecks coming in with guaranteed money as opposed to donk's taking all your cash on bad beats.QFReality Link to post Share on other sites
Gooser 0 Posted August 8, 2006 Share Posted August 8, 2006 ? im a noob rememeber?edit: im going to sleep - class tomorrow bright and early....tantalar, if you ever make it to stars or party drop me a pm and we can play a bit? Link to post Share on other sites
boyitalia 0 Posted August 8, 2006 Share Posted August 8, 2006 pstars deep stacks are the way to go Link to post Share on other sites
yergan 0 Posted August 8, 2006 Share Posted August 8, 2006 and my job at the supermarket....Maybe this is the real RKIGS... Link to post Share on other sites
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