Most people who watch poker on television think that being a professional poker player must be one of the best “jobs” in the world. And while it’s great, there are many aspects of the lifestyle that most people don’t know about. If you are an aspiring poker professional, this article will help you understand what you are getting into. These are my top 5 myths about being a professional poker player.
1. It’s easy money
The biggest myth of all. Playing poker is a high risk, high variance game. If you want to win money at poker, you have to work long hours and take horrible hits. Even if you are a great player, you can play countless losing sessions without even making a mistake. Also, poker players are getting better and better, reducing their edge as time goes on. It’s extremely difficult to play well all the time, but it’s extremely easy to make a mistake that sets you back. Poker is hard work!
2. You hardly have to work, just play all day!
Couldn’t be further from the truth. In fact, I would say that the best poker professionals work harder than professionals in other fields. Poker is a deeply dynamic and ever-changing game. To play at the highest level, you have to study, discuss, review, etc. Not to mention putting in 60+ hours a week when you include travel time.
3. You will have the freedom to do what you want, when you want.
Wrong again. When you rely on your poker bankroll to pay your bills, you’ll have to put in long hours, especially on Friday and Saturday nights (when most recreational players are active), which means you’ll have to sacrifice nights out with your friends and family many times. The other problem, as discussed above, is that if you’re losing, you’ll have to continue to put in hours until you’re back in numbers; otherwise, collectors will start calling. Other priorities quickly disappear, such as socializing with friends, cooking and eating a healthy diet, exercising, etc.
4. I will be on TV!
Actually, you probably won’t. Even if you buy-in to the World Series of Poker Main Event, you probably won’t see any TV time unless you make it to the final table. These days there are thousands of professional players entering that tournament every year… it’s not easy to get that far. Other televised events are often invitation only and are offered to existing poker professionals such as Phil Ivey, Tom Dwan and Phil Hellmuth.
5. I will have financial freedom!
You will never have financial freedom playing poker. Although it may seem that way, you don’t often hear all the stories of professionals who lost all their funds and never recovered. TJ Cloutier, a poker veteran who recently had to sell his WSOP bracelet to raise some money, comes to mind. You may have heard of Brad Booth, who in a recent All In Magazine article confessed to being broke and borrowing money to get back on his feet. There are countless stories. It is very difficult to build a fortune in poker, but it is extremely easy to lose it all in one night.