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Author Topic: Prose from a Poshboy  (Read 2543898 times)
dwayne110
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« Reply #18645 on: October 10, 2015, 02:44:22 PM »

lol, ignore my question, think your detailed response which crossed over with my question more than covers it!
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KarmaDope
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« Reply #18646 on: October 10, 2015, 04:30:36 PM »

BNR at Manchester keeps getting a 5/5 most days from what I hear - but every time I go in its the same faces so I assume the only winner there is the house!
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cambridgealex
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« Reply #18647 on: October 10, 2015, 04:40:19 PM »

BNR at Manchester keeps getting a 5/5 most days from what I hear - but every time I go in its the same faces so I assume the only winner there is the house!

Yeh I mean bigger games come in spells, usually centred around one or two people, but they never last. Like you say, either only the rake wins or the 1 or 2 people doing their money quit. To maintain regular big games in casino you need a huge pool of liquidation, and there just isn't that in many cities these days.
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Archer
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« Reply #18648 on: October 10, 2015, 05:06:05 PM »

£50k is a weird bench mark for what constitutes a living though. The avg wage in the UK is £23k and £17k if you take out the top 2%. £50k per year tax free is huge money compared to the national average. If you're making £30k a year tax free, the equivalent of like £40k/taxable? playing poker being your own boss, I'd say that was pretty acceptable.

PAYE gross of £75K nets down to just over £50K net of Tax/NIC.
PAYE gross of £40K nets down to just over £30k net of Tax/NIC - so pretty spot on with your estimate.
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SuuPRlim
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« Reply #18649 on: October 10, 2015, 05:48:28 PM »

I think there are not many AT ALL people making £50k p/a at poker after expenses.

For the vast majority, poker is a lifestyle business, not a solid living. The real "pay" is non-financial, which is great if thats what you want but these things don't pay mortgages or buy nappies!
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cambridgealex
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« Reply #18650 on: October 10, 2015, 05:49:40 PM »

I think there are not many AT ALL people making £50k p/a at poker after expenses.

For the vast majority, poker is a lifestyle business, not a solid living. The real "pay" is non-financial, which is great if thats what you want but these things don't pay mortgages or buy nappies!

How many would you say?
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SuuPRlim
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« Reply #18651 on: October 10, 2015, 06:23:36 PM »

I think there are not many AT ALL people making £50k p/a at poker after expenses.

For the vast majority, poker is a lifestyle business, not a solid living. The real "pay" is non-financial, which is great if thats what you want but these things don't pay mortgages or buy nappies!

How many would you say?

100 or so, including punting I guess.. Really don't know... it's hard work though!
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cambridgealex
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« Reply #18652 on: October 10, 2015, 06:26:25 PM »

I think there are not many AT ALL people making £50k p/a at poker after expenses.

For the vast majority, poker is a lifestyle business, not a solid living. The real "pay" is non-financial, which is great if thats what you want but these things don't pay mortgages or buy nappies!

How many would you say?

100 or so, including punting I guess.. Really don't know... it's hard work though!

You must be including online. What about live cash? I think my 60 guess is high, maybe more like 30/40.
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CatfordFISH
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« Reply #18653 on: October 10, 2015, 06:32:03 PM »

I think there is a lot of people who play live cash in London making a bad living, like they think they are making more than they really are, I can't imagine there are many players who play in hippo, empire aspers making £50k plus a year. I know one player who's makes £30+ a hour in empire, and he is pretty good, like a lot better than the average reg. £30 an hour equates to about £60k a year
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arbboy
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« Reply #18654 on: October 10, 2015, 06:37:54 PM »

Way more than 100 people making £50k a year gambling (poker/sports online/live) combined in UK.  Think less than 60 people make over £50k a year playing live cash though on it's own.  Trouble with these arguments is whether you mean people actually make £50k in one year or whether they are good enough/play enough to make an average of £50k+ a year every year and not just in one year.

Earning £50k a year tax free is a top 4-5% ish salary nationally if you gross it up to around the £75-80k pre tax mark.  It is a significant salary, even at £50k a year, tax free if you are living outside of London. 
« Last Edit: October 10, 2015, 06:44:17 PM by arbboy » Logged
CatfordFISH
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« Reply #18655 on: October 10, 2015, 06:44:41 PM »

All I know is there ain't a lot of people making life changing money from gambling
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arbboy
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« Reply #18656 on: October 10, 2015, 07:07:46 PM »

All I know is there ain't a lot of people making life changing money from gambling

You can say the same about any job/industry/profession.  Hence why only around 5% of people earn £70-80k a year in any industry.
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SuuPRlim
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« Reply #18657 on: October 10, 2015, 11:24:12 PM »

Way more than 100 people making £50k a year gambling (poker/sports online/live) combined in UK.  Think less than 60 people make over £50k a year playing live cash though on it's own.  Trouble with these arguments is whether you mean people actually make £50k in one year or whether they are good enough/play enough to make an average of £50k+ a year every year and not just in one year.

Earning £50k a year tax free is a top 4-5% ish salary nationally if you gross it up to around the £75-80k pre tax mark.  It is a significant salary, even at £50k a year, tax free if you are living outside of London. 

People with the skills/set-up/experience/bankroll to make £50k this and each of the next 5 years.

You're probably right, we dont really know do we!! It's really fucking hard basically Tongue
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« Reply #18658 on: October 10, 2015, 11:27:36 PM »

live cash is an even tougher one, because as well as the skills + the money (hard enough to have) you need to games and thats pretty tough, especially if you're not in London - it's not just as simple as move to London for games either, with London comes much higher expenses, generally better players (higher variance) and bigger stakes (more BR needed)

It's defo the best form of poker out there but a real tough cookie to make pay full time.
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George2Loose
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« Reply #18659 on: October 10, 2015, 11:47:24 PM »

Like most forms of poker then?
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