Matthew „mindcirkus“ Wheat is a professional poker player. He successfully transitioned from “NLHE” to “PLO” and reached the final table in 2010 playing “WSOP Events No. 55, $10,000 PLO Championship”.
Most people think that a professional poker player is a guy who sits in a casino and makes piles of money.
The reality is a bit different, best described by the often-heard saying: “It’s a hard way to make an easy living”.
To make it clearer, I gladly ask people: “Do you have any idea how it feels to work hard all day and end up losing $10,000? That happens to me constantly”.
The feeling of putting in a lot of work and still losing a lot of money cannot be understood until you experience it yourself. Playing high-stakes poker is as nerve-wracking as piloting a plane under extreme conditions.
Another problem for poker players is that they are not respected by society because of their profession. Most parents are horrified when their child says they want to quit their job or studies to become a professional poker player.
Indeed, there can be different perspectives from a moral standpoint: when money is won at the table from weaker players and when intellect and hard work are used to become an elite player.
Anyone who is somewhat familiar with high-stakes poker and higher education understands that this game requires more intellect and learning than obtaining a doctoral degree.
You must dedicate a lot of time if you want to live from this activity
At the beginning of online poker, it was possible to make a lot of money without much experience and deeper knowledge. However, today you must dedicate a lot of time and, of course, be talented if you want to live from this activity.
Those who want to become good players and are ready to dedicate a lot of time and work have practically unlimited opportunities in terms of both earnings and job satisfaction.
However, considering poker as a profession brings certain circumstances, i.e., money takes on a completely different value. A lawyer who earns $500 per hour values that money very differently than a poker player who also earns $500 per hour.
This can be explained quite simply: A lawyer gets $500 for every hour of work. If he wants to buy something for $1,000, he has to work for two hours.
A poker player who earns an average of $500 per hour must play at really high stakes, where in the same hour he can easily lose amounts between $10,000 and $100,000. When money comes and goes so quickly, it becomes especially difficult to act moderately in such situations.
If a player constantly improves and learns from their mistakes, over time they start to control money better, but the problem does not disappear, so it is necessary to remain cautious.
Important: Find your poker format
Anyone who wants to make poker their main source of income must constantly consider which types of poker games bring the biggest winnings. This means constantly varying. I have seen more than one poker player make the mistake of staying in the same place after a win.
The game of poker is constantly changing; where it was easy to win money before, it has now become much harder. For example, in August 2007, I used to play 20 tables of $1/$2 “NLHE”. At that time, I, like other good players, would win an average of $15,000 per month. And this was achieved with skills and knowledge that would now be considered minimal.
I continued to play the same type of game until my earnings started to decrease and in recent years it became unbearably difficult.
I recognized the progress of poker players only at the beginning of 2009. Then I started dedicating a lot of time to learning “6-max Pot Limit Omaha”. Initially, I didn't do well and kept losing money, but over time I started winning more than I did playing “NLHE”.
Today, playing “6-max Pot Limit Omaha” is as difficult as “NLHE”. Although I am still one of the best players and make a lot of money, I continue to learn other types of games so that I am prepared when the time comes.
Author: Matthew Wheat, cardrunners.com Borrowed from http://www.pokerzeit.com/leben-als-pokerprofi-1
