I'm back into the private workforce

[Vegas Vic]

I know that QuikSand, Subby, Primelord, Malificent, Radii and a few others know that I have been making my living as a professional poker player for the past four years, but I have a somewhat unimportant announcement to make.

So, I am leaving behind the occupation of a self-employed professional poker player, and I will be rejoining the traditional workforce.

There were three crucial factors in making this decision. First, the passage of the UIGEA (Unlawful Internet Gambling Enforcement Act) has greatly reduced the game quality that is available for the U.S. online players. At that point, I decided that I was not going to sit in a brick & mortar casino and grind out a living for the rest of my life. Second, after playing several million hands online, I was able to determine that I was an above average player, but that I would probably never be able to grasp the skills that are necessary to compete at a world class level. Third, (and related to #2), I wasn’t able to save enough money in a 401K plan to ensure a comfortable retirement. Additionally, I was paying about $4K per year in medical and dental insurance, and a significant amount in SE tax.

So, I am beginning a new career with Nevada Power Co. I will have a fully funded pension plan, an opportunity to contribute into a separate 401K plan with 6% matching funds, an opportunity to purchase Nevada Power stock at 15% below market value, fully funded health insurance (including post retirement), and a bunch of vacation and paid holidays.

In all honesty, I have grown to hate the game of poker. I am able to get my hours in and make a good profit, but I have lost all enjoyment for the game. I am going to take a few months off from playing poker, then concentrate on playing in some tournaments. Hopefully, I can recapture some of the passion and joy that I used to have for the game.

I really feel sorry for the legions of young guys who are dropping out of college to play poker, as I think that many of them are in for a rude awakening. I feel truly blessed that I was able to get my education, get several years of experience in the workforce, and get back into the workforce with this four year period of playing poker.

[Joe]

good luck VV

[Butter]

I love poker, but I get bored of playing it after just a couple hours a day over 2-3 days. I don't know how you managed it.

Good luck in your new career.

[Subby]

That is fantasic news, VV! I know that when we had lunch in July you were starting the process and I am really happy that it has turned out for you.

Good luck in the new job, my friend...

[KWhit]

Glad you found something with such nice benefits. What a change from being self-employed!

Congrats, VV.

[albionmoonlight]

Being able to honestly evaluate one's place in life is one of the most important skills a man can have--and also one of the hardest to master.

You seem to have it down.

You are living the dream of tens of thousands of college kids right now--but you realize that it is no longer your dream, so you move on. A lot of people would lack the insight/courage to do that.

Good luck.

[wade moore]

Good luck VV, sounds like it all is working out for the best!

[Vegas Vic]

You are living the dream of tens of thousands of college kids right now

First of all, thanks to all of you guys for the good wishes.

I am really concerned about the legion of young people who are dropping out of college to play poker.

I had to get a bit creative on my resume to get back into the private sector. I did not lie, but for my self-employment experience, I documented the past four years as an internet affiliate with commission payments for recruiting new customers via online and offline promotions. This was the truth, but it accounted for a very minuscule portion of my actual income. I made the bulk of my income via poker, but I did not list it on my resume. I still have doubts as to whether I would have been hired if I had listed my occupation as a professional poker player.

[Toddzilla]

I still have doubts as to whether I would have been hired if I had listed my occupation as a professional poker player.I'd be surprised if there weren't quite a few resumes floating throughout Nevada with that very occupation listed. I imagine there are quite a few former poker professionals looking for employment at any given time.

That being said, best of luck!

[QuikSand]

That is fantasic news, VV! I know that when we had lunch in July you were starting the process and I am really happy that it has turned out for you.

Good luck in the new job, my friend...

Ditto this.... good luck.

[Barkeep49]

It does sound like this is a fantastic place to work. My dad also works for a power company and they seem to be one of the few places left that offer benefits like companies used to. Congrats on the job.

[JonInMiddleGA]

... but you realize that it is no longer your dream, so you move on. A lot of people would lack the insight/courage to do that. Good luck.

Well said.

In addition, I would like to add my respect for something else I find worth noting here -- the ability to take action once that realization is made. Inertia, or often "paralysis by analysis", is a tough thing to overcome.

I think I'm as impressed by VV's ability to make a decision & move forward in this situation as I am by the awareness it took to recognize the situation in the first place.

Good luck Vic.

[MIJB#19]

Good luck with this career move, Vic.

[Marc Vaughan]

Good luck with the career move.

[Warhammer]

Good luck with the move VV. Many of the large manufacturers here still offer some of the old time benefit packages. ITT and Flowserve are two companies that offered a pension + 401k with matching funds, retirement, etc.

[Mizzou B-ball fan]

I play poker on the side and make a few hundred here and there, but I think it's best to keep it as a hobby or entertainment experience. It just doesn't hold the same appeal when your livelihood depends on it. You'll get back your enjoyment of the game after a little while. I occasionally stop playing here and there to keep it from becoming boring. I've also noticed that when I keep my amount of playing time in check, I tend to play better and make much better decisions than I would grinding on a more regular basis.

As you said, the health care costs and changes in social interaction are another tough part of playing poker for a living.

[TroyF]

Good Luck VV!!!! :)

[Izulde]

Congratulations and good luck, VV! :) It sounds like you're making the right move here and even if you never pick up another card, you'll still have all the memories.

[GoldenEagle]

VV, I think you will be back in the game as a casual player in no time. I have cut back on my playing as well, and my desire to learn the game and play is greater than ever now that I do not have the financial pressure to pay bills with poker earnings. I do use my poker money to buy cool new stuff though, but that is not the reason I play.

[dixieflatline]

I too wish you the best of luck VV. I am a bit sad to hear that you grew to hate poker. Now that you are not going to be playing anymore can you give us more info on what daily life was like? What kind of hours were you setting? What and where were you playing online? How much of your time did you spend reading/studying? What kind of reactions did you get from your friends/family when you told them you were going pro?

I will say that I have had no problem finding good games since UIGEA but that is at the 3/6 4/8 kind of level. As I posted before, UIGEA has not slowed the numbers of people playing online (since the initial blip) so I am curious to hear your thoughts on the games drying up.

[Subby]

After playing live I don't think I could ever play on-line again...

[Pumpy Tudors]

Enjoy your new job, VV. :)

I entertained thoughts of playing poker "for profit." I had wanted to grind up a bankroll and then move up in stakes as I went along. I discovered that I didn't care about playing for higher stakes, though. I've settled myself into micro-stakes, and unless I make a bunch of money elsewhere, I'm probably just going to stay where I am. I'm simply playing for fun these days, and even though I'm a winning player, I'm making such tiny amounts of money that it's insignificant. There's no pressure and there's no pain. It's all about fun.

I hope that poker goes back to being fun for you someday, but if it doesn't, enjoy everything else that life offers. Good luck!

[Eaglesfan27]

Being able to honestly evaluate one's place in life is one of the most important skills a man can have--and also one of the hardest to master.

You seem to have it down.

You are living the dream of tens of thousands of college kids right now--but you realize that it is no longer your dream, so you move on. A lot of people would lack the insight/courage to do that.

Good luck.

Very well said. Good luck to you, VV.

[Vegas Vic]

Now that you are not going to be playing anymore can you give us more info on what daily life was like? What kind of hours were you setting? What and where were you playing online? How much of your time did you spend reading/studying? What kind of reactions did you get from your friends/family when you told them you were going pro?

I will say that I have had no problem finding good games since UIGEA but that is at the 3/6 4/8 kind of level. As I posted before, UIGEA has not slowed the numbers of people playing online (since the initial blip) so I am curious to hear your thoughts on the games drying up.

For the first three years or so, my schedule was fairly easy to manage. I would plan my hours in advance and put in about 30 hours per week. I would typically play four to six tables at a time in stakes ranging from 3/6 to some 10/20, with the bulk of the hands in the 5/10 range.

About two years ago, I noticed a disturbing trend. The average table VP$IP’s (“voluntarily put money in the pot”) were steadily dropping and the games were getting a lot tougher. The days of opening up a bunch of random tables filled with donators were over. Now, the typical 6-handed tables are four 28/21/3 guys, a 55/35/3 LAG and maybe one 50/2/1 guy (if you’re lucky). I spend as much time with table selection now as I actually spend playing the game, and I’m constantly moving in and out of games. This has also created problems with scheduling and getting hours in. I basically have to use trial and error at a lot of different times and sites to get into good games and get the hours in.

What has caused all of this? The number of new players has been steadily decreasing over the past two years. The good players (most of them) are playing anywhere between four and twelve tables each. So, there’s a decreasing number of donators entering the pool and an ever increasing number of seats being taken up by multitabling TAG’s. The dwindling fish population doesn’t stand much of a chance of survival. In live play, a guy can fool himself into thinking he’s a breakeven or maybe even a slightly winning player. Online, he is forced to accept the fact that he’s a loser. Either he deposits more and more money, or else he quits and finds something else to blow his money on. I think that’s happened to a lot of these guys.

As to your question about family and friends, they were understandably concerned, but they were generally supportive of the decision. After the first couple of years, they seemed to be totally OK with it when they saw that I was doing fairly well.

As for the reading and studying, I used to do a lot more of it, but over the past year I’ve just put my hours in and I haven’t really worked on improving my game.

I think you’re right about the UIGEA, and I was wrong in my original assessment. As I mentioned earlier in this post, I think the drastic decline in new signups coupled with the increasing number of multitabling TAG’s over the past two years is mainly responsible for the general poor quality of the games.

[Radii]

Good luck VV, hopefully this change will make you happier and less stressed. I've heard a number of people who took a shot at turning pro talk about loathing the game after having done it for awhile. It's good that you got to take your shot though!

[SFL Cat]

Good luck in your future endeavors

[dixieflatline]

Thanks for taking the time and answering my questions Vic. I just have one more quick one. Did you actively bonus whore or did you primarily spend your time at one of the big sites like party or stars?

ps. you are going to have to change from checkraising tourists to checking power towers or something like that ;)

[Vegas Vic]

Thanks for taking the time and answering my questions Vic. I just have one more quick one. Did you actively bonus whore or did you primarily spend your time at one of the big sites like party or stars?


I played on Full Tilt, Absolute, Ultimate Bet and Doyle's Room. I took advantage of the bottomless reload bonuses on Absolute and UB (I would keep rolling over 3K to keep the reload bonuses fully stocked). I also got rakeback on all of those sites. I did have an account on Party with rakeback, but I quit playing there about a year ago because I could find better games with less net rake on the other sites. I have never played on PokerStars.

[dixieflatline]

Thanks again Vic. This has been very informational.