Posted Fri Aug 25, 2006 1:53 pm GMT by jimmer
I was just wondering how the pro's fund themselves.
I mean I know that the top ones are sponsored by the various poker sites, but I'm sure a large majority are not.
Now, lots of them enter torny's costing $1000+ and they enter them regualarly.This must cost $5,000+ a month.
Do they qualify through satalites? Or do they just accumulate their bankroll through cash games, or smaller torny's???
Or do they make a living through cash games and then enter tornys with "spare" cash???
Are you a pro, or semi-pro, or have you just researched the pro's. I'd like to hear from you?
(failing that, are there any sites that give a day-by-day account of a pro's finances?)
I hope this makes sense, I'm just looking at my long-term business plan
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Posted Fri Aug 25, 2006 2:00 pm GMT by mooseontheloose
Do you mean the ones who play on TV?
A lot of people playing high stakes poker had a lot of money before they even started. There's a big difference between someone who starts with $400, grinding to $40,000 and someone who starts with $100,000 and can reload any time he wants.
If by pro you mean people who make a living at poker period, most of them make their money from poker in order to fund their tournaments. Whether it be placing well in previous tournaments, satellites are a possiblity and of course making money in poker in general (cash, etc.). But like I said, a college kid making $10,000 a year from poker as his only means of income who makes it to a big tournament through a satellite is largely different from a millionaire who decides to take up the game, enters every open tournament possible and can throw around money in any way he desires.
As I said, most poker players playing in many large tournaments or high stakes games fall into two categories:
1) They have/make a lot of money playing poker regularily
2) They had money to begin with, winning or losing means little to their bankroll
Posted Fri Aug 25, 2006 2:27 pm GMT by wEbMaStEr
This is a great question Jimmer.
With the exception of people like Paul dotcom Phillips who falls into the millionaire bracket or Negreanu or Ivey et all who make a fortune in cash games, there are hundreds of pro's out there who are grinding it out day in day out.
I guess you gotta put it down to bankroll management, if you can afford the tourneys you play in em, you play at whatever level you can afford, taint much different if you knock a couple zeros off the buy in i suppose.
Posted Fri Aug 25, 2006 2:55 pm GMT by jimmer
sorry (problems with pc!)
Posted Fri Aug 25, 2006 3:03 pm GMT by jimmer
| mooseontheloose wrote: | Do you mean the ones who play on TV?
|
Not specificlly, any pro.
| mooseontheloose wrote: | | A lot of people playing high stakes poker had a lot of money before they even started. |
Not sure i can accept that. I understand a certain players made their money through other factors such as business, inheritance or lotto wins, but surely the majority of pro's made it through winning at poker????????? (i'm guessing?)
| mooseontheloose wrote: | | and someone who starts with $100,000 and can reload any time he wants. |
I mean most pro's make a living and therefore profit? Are you suggesting the one's with a $100,000 bankroll just break-even?
Posted Fri Aug 25, 2006 3:09 pm GMT by MasterShake
Guys like Howard Lederer and Erik Seidel started playing poker in small underground clubs at low limits while working regular jobs druing the day. Guys like Paul Phillips and Phil Gordon sold multimillion dollar corporations. Old timers like TJ, Doyle and Amarillo Slim built up their bankrolls by playing in any games they could find throughout Texas, Oklahoma, Louisianna and elsewhere. Phil Ivey was an action junkie that was tired of losing money betting sports and craps. Chris Ferguson plays almost exclusively in Tournaments. There are all kinds of stories out there.
Gavin Smith used to be a satellite junkie until his bankroll was big enough that he could buy into any tourney directly. Now he says he rarely plays them. Men Nguyen and Tom McEvoy play satellites to almost any tourney they want to play in.
Posted Fri Aug 25, 2006 3:13 pm GMT by tame_deuces
Pros will often get a stake deal if they go bust also from other players/people around them, which probably helps them out too.
Posted Fri Aug 25, 2006 3:16 pm GMT by jimmer
Nice one, thanks!
| MasterShake wrote: | | Men Nguyen and Tom McEvoy play satellites to almost any tourney they want to play in. |
Do players like these two play satellites, which in turn, leads to getting into the money of larger tornys ONLY, or do they still build a bankroll through other sources?
Posted Fri Aug 25, 2006 3:23 pm GMT by mooseontheloose
| jimmer wrote: | | mooseontheloose wrote: | Do you mean the ones who play on TV?
|
Not specificlly, any pro.
| mooseontheloose wrote: | | A lot of people playing high stakes poker had a lot of money before they even started. |
Not sure i can accept that. I understand a certain players made their money through other factors such as business, inheritance or lotto wins, but surely the majority of pro's made it through winning at poker????????? (i'm guessing?)
| mooseontheloose wrote: | | and someone who starts with $100,000 and can reload any time he wants. |
I mean most pro's make a living and therefore profit? Are you suggesting the one's with a $100,000 bankroll just break-even? |
I didn't mean most pros now had a lot of money originally, I meant a lot of the newer pros (NOT the TV ones that have been playing forever) often had money before they began playing. However, most big name pros like Harrington, Lederer, etc. have been playing a very long time and over that time they were able to grind out a lot of money to push them into higher stakes. Poker isn't really something where you can sit down with $100 and have $1,000,000 in a few months (unless you get into a huge tourney and win, but that's not likely) so my point is that the new 'pros' are often lawyers, businessmen, etc. who had successful jobs and quit to play poker full time. The old 'pros', the ones who've been on in big tourneys on TV for years now are often the old school players that did their grinding when poker wasn't a fad.
Many players DO grind it out on cash games, satellites, etc. to make their cash for tournaments and make a good living, but if you're talking specifically about those getting into every single major tournament and is a new 'pro', they often had money to begin with and start with a big bankroll.
And my point about the $100,000 was not that he sucks and breaks even. My point was that if you start at $400 and over time turn it into $40,000 you will still be taking a big chunk of your bankroll if you want to buy into a big $10,000 tourney. But if you start with $100,000 and make profits (say to $300,000) you are in good shape and can play whatever you want - NOT because you have money to blow, but because you have SKILL AND A BANKROLL to play anything you want. This isn't every player, but they certainly exist in the new 'pro' field.
Note: The pros I refer to are the ones playing big buy-in tournaments - a pro is someone who lives off poker but the OP referred to big buy-in stuff which doesn't include those doing well and profiting in the medium stakes.
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