just reading about what pros are doing after black friday and came across the story of wandigo.
poor bugger was working in a video shop but now finds himself dealing poker in a casino full time for an average wage after BF.
No real story there until I saw his 1 million dollar badge, and thought WTF ?
I've checked some of the pros stats on OPR and obv 1000k (...1000k, it's the new million!) in winnings doesn't mean 1000k in profit, understood.
But I would assume these guys must surely be making a decent wage out of this or it would seem fairly pointless putting in so much time and effort .... and frayed nerves!
Is anyone really making any money?
does a 5 million badge mean 5 - 10k profit?
also my ITM on OPR after 1000 tourneys is 18% but I'm making fuck all $, what's with that?
also where is andymcleod

yeah by the time i get my milly badge it will only have cost me 90k, can i just buy one now Dan for a tenner?

So when this guy puts "Does a 5 milly badge mean 5-10k profit" This shows he has no clue.

Also.. Your girlfriend is hot.

Also consider that a lot of players will have significant income from rakeback or cash tables, or have some cashes in untracked tourneys as well. And people are going to treat their poker income differently. Some might be totally content to crank out 100k or so a year and are able to save/invest some of that money. Others would rather take a good chunk of that to take some shots at high buy in live events, which, if it doesnt work out, can make times tough when something as catastrophic as black friday happens.

So yes, people do make a decent living with poker, but it's not often such a disgustingly large sum that they're able to weather extended setbacks with nary a worry.

 

Originally Posted by RedIceRap

nobody can answer u how much profit someone with a 5 milly badge has. but these guys do play 10k live events regulary and also win a lot live. i think the profits should be smth like 10-20% of the badge. so i think someone with a milly badge has at least 100k in profits, but u need to think about the future. 100k is nothing if u have to pay for a lot of stuff for the next years, and since BF these players can't play on the big sites anymore and need to earn money somehow.

I agree. And then again some players play backed, so we can cut that number i half also. And then there's taxes and shit...

Cause taxes and being backed is a bitch....I dunno his situation specifically, but say you take a significant winner in MTTs who averages 200k/year backed(prob very few that even do this).....of the 200k, 100k goes to the backer, 100k taxed is like 65k after taxes.........to live even a basic lifestyle its going to cost 20-30k to live, so 35k left over.....factor in buying say a new car, living it up on vacations, degen gambling, its easy to see how a big winner isnt making what you think he is......theres very few who play mid/high stakes on their own dime - the ones that do are prob making out the best in online poker.

uk tax free $$ = winning

Haha fair enough.. Im not a retard btw, not very nice of you id like a written apology via pm.

18 percent itm is slightly too high... try taking some risks around the bubble instead of folding aq cause u dont want to bubble the tourney... put yourself in a position to get top 3 in the tourney instead of min cashing your life away.

I mean a milly badge, you would think even after taxes, backer payouts etc, the dude would hv at least 50k set aside, seems this is not the case and a bummer for sure, my guess there is mor of this than success stories.

 

Originally Posted by yarbles

18 percent itm is slightly too high... try taking some risks around the bubble instead of folding aq cause u dont want to bubble the tourney... put yourself in a position to get top 3 in the tourney instead of min cashing your life away.

Very good advise

he retired at the end of 2010

 

Originally Posted by rhubarb5

Still not sure why good poker players with consistent results even need a backer ..... something about that doesn't quite add up to me ....... discuss

so anyways, where is andymcleod

somepeople do it for different reasons and the real eyeopenor is the guys who use their own money to back horses but themselves chooose to stay backed as welll... sometimes being backed is a way to stay grounded and not let your emotions of the swings effect your play.

 

Originally Posted by yarbles

somepeople do it for different reasons and the real eyeopenor is the guys who use their own money to back horses but themselves chooose to stay backed as welll... sometimes being backed is a way to stay grounded and not let your emotions of the swings effect your play.

i really dont understand that logic... I would be more "scared" or pist off to lose somebody else money than my own tbh. I think its a thing of necessity of being able to play higher buyins without having the role for it. Because some players have the skillz for beating these stakes but not the bankroll... In the end being backed gives them more shots to bink a big one instead of grinding midstakes on your own to built a role which can last years... So during those years you miss so many shots in big buyin mtts/series to make a real big score.