Money Management for Professional Poker Players: Part 2

Your Track Record

This is also a ‘biggie’- what is your experience with the particular poker game type you are looking to play professionally. I’m guessing that you are already an experienced player, if you’ve decided to take this step.

What matters here is your winrate in past. Have you been crushing the games before? Are those same games still available and are they still that easy to beat? If so, you have nothing to worry about at all and it comes down to putting a lot of quality hours in.

However, if you have been a small winner or a winner only after bonuses and perks, there is a reason to be genuinely worried. What if you are actually unable to beat the games and break even for several months? Sure, you could analyze your mistakes and try to get better to beat them, but that involves a lot of stress to go through.

What I suggest in the second scenario is having at least 6 months of living expenses set aside. That way, even if you are unable to beat the games right away, you’ll know that there still is a lot of time to learn and educate yourself. Remember that you can always find soft poker games and play those with a higher edge.

I might have worded this a little bit wrong,  as even if you beat the games at a steady rate, I still suggest to have several months of living expenses, including money for food, utilities and going out, all set aside. Think of your poker bankroll as a business investment that you keep reinvesting to grow your business, as that is exactly what playing poker professionally is – a business.

 Go to Part 3

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