G0930
Captain Fathermucker, Satty Aficionado
Loyaler
tough goal lol...
Paya_31
Visionary
Bronze Level
Hello friend, I think that if I won that amount of money I would continue playing, not the number of hours I play but I would continue playing. because reaching a tournament of great magnitude is the dream I have as a poker player.
Marshmalo1994
Legend
Platinum Level
Defenitively not! But I wouldn't increase too much my bankroll. I mean, I wouldn't start playing +$100 games, I'd keep it low, maybe a little increase to $11. I'd apart less than $2k to keep playing, and maybe a WSOP ME just one time 😅
I'd use the rest.
L
LukeSilver
Rock Star
Silver Level
So I think there are a lot of variables to this, firstly different people live in different areas and different countries one guy mentioned $400 been a months salary in some countries one can survive comfortably on $400 a month. In England where I live you would struggle to survive on $400 a week as a single person with no dependents its doable but you would be living in poverty and struggling with a weekly budget of $400.
1.So firstly how do I win the $1million is this something that I won over a long period of time and many years of grinding? or is this a big hit like winning the spin and go jackpot bad beat jackpot tournement bink etc?
2. How significant is the money for where I live can I afford to retire on this?
3. what is my current win/loss rate and what games am I looking at
4. how much do I like the game
5. what alternatives for income do I have
If I won a lot of money gambling enough to be able to retire comfortably without ever having to work again, I have no indication I am profitible I just got lucky would I risk losing the lot and been back at square one or lock it down and never have financial worries ever again this is an obvious choice.
Now for me I live in the UK I am autistic spectrum am about to complete my third degree yet work for min wage in the working world and get abused and called stupid regularly. I make enough money from poker to be able to pay my bills and live of and have questioned quitting work and just doing poker full time. after much thought I decided complete the final year of my final degree first that is my first priority. I then am signed up to multiple zero hour contracts and take work here and there and poker this allows me to have max flexibility. When My degree is complete the issue is Can I get decent work if yes I leave poker behind as a main source of income. online poker is likely dead at some point due to bots. If all i am getting is min wage work still screw it who cares I ride the poker train as long as it works for me and go back to min wage work when it no longer does.
Now $1million here would be the equivalent of £800,000, to live reasonably comfortably I would need £2500 a month, but this massively changes with the big win. a significant proportion of my out goings in rent for £250,000 I can buy a property outright and never have to pay a mortgage or rent ever again. now my monthly outgoings to live comfortably is down to about £1400, note I am not living comfortably at the moment I get by managing my bills and budgeting.
now after the £250,000 on a property I have £550,000 left. now if I ignore inflation and just work out flat how long this lasts me it is 32 years this is not enough to see me through for the rest of my life if I live as long as the average male would be expected to, though actually would cover me if I assume my life expectancy is the average for high functioning autistic males.
however if I invest this and get say 5% return a year a conservative estimate for investments, I can expect £27500 a year, which is 2291 a month this is enough to retire on. now based on that is continuing to play poker making a material difference to my position in life? the answer is yes If I make just £1000 a month that is almost half my monthly income and I already know I can do better then that no pressure and never again having to take crud at work. So I go the opposite way I now play poker for as long as I can consistently win and make a material difference to my position, when that no longer applies which will become an eventuality for everyone if I am right, then I walk away from playing the game for anything but micro stakes or the odd live games for fun here and there maybe weekly tourney at local casino or something.
but the jist of this question is effectively asking if you win enough money to never have to work again/have a need to would you continue? so Lets say by some miracle I find myself winning a big tourney for say $10million, now lets break this down my goal is to be comfortable and stress free $10million would be £8million. £250,000 for the house now leaves me £7,750,000 investing again at 5% gives me £387,500 a year. or £32291 a month, I am a small stakes grinder there is no evidence that I can make monthly income that would be material here, if I was to play in higher stake games I would likely be a big losing player why burn my position away I cant improve it in any meaningful way and I can ruin it. It may or may not be the case that with a lot of hard work, I could get to the position where I could make a 10k plus a month, or it may be beyond me. Either way though if I could do this it would need a huge amount of effort for a limited relatively short term period, why bother?
at this point unless I am been sponsored for a large amount to keep playing or be a poker celebrity I walk away from the game in a significant way, would I say I would never play again? of course not I enjoy the game so why stop but it would be small stakes and from time to time.
1.So firstly how do I win the $1million is this something that I won over a long period of time and many years of grinding? or is this a big hit like winning the spin and go jackpot bad beat jackpot tournement bink etc?
2. How significant is the money for where I live can I afford to retire on this?
3. what is my current win/loss rate and what games am I looking at
4. how much do I like the game
5. what alternatives for income do I have
If I won a lot of money gambling enough to be able to retire comfortably without ever having to work again, I have no indication I am profitible I just got lucky would I risk losing the lot and been back at square one or lock it down and never have financial worries ever again this is an obvious choice.
Now for me I live in the UK I am autistic spectrum am about to complete my third degree yet work for min wage in the working world and get abused and called stupid regularly. I make enough money from poker to be able to pay my bills and live of and have questioned quitting work and just doing poker full time. after much thought I decided complete the final year of my final degree first that is my first priority. I then am signed up to multiple zero hour contracts and take work here and there and poker this allows me to have max flexibility. When My degree is complete the issue is Can I get decent work if yes I leave poker behind as a main source of income. online poker is likely dead at some point due to bots. If all i am getting is min wage work still screw it who cares I ride the poker train as long as it works for me and go back to min wage work when it no longer does.
Now $1million here would be the equivalent of £800,000, to live reasonably comfortably I would need £2500 a month, but this massively changes with the big win. a significant proportion of my out goings in rent for £250,000 I can buy a property outright and never have to pay a mortgage or rent ever again. now my monthly outgoings to live comfortably is down to about £1400, note I am not living comfortably at the moment I get by managing my bills and budgeting.
now after the £250,000 on a property I have £550,000 left. now if I ignore inflation and just work out flat how long this lasts me it is 32 years this is not enough to see me through for the rest of my life if I live as long as the average male would be expected to, though actually would cover me if I assume my life expectancy is the average for high functioning autistic males.
however if I invest this and get say 5% return a year a conservative estimate for investments, I can expect £27500 a year, which is 2291 a month this is enough to retire on. now based on that is continuing to play poker making a material difference to my position in life? the answer is yes If I make just £1000 a month that is almost half my monthly income and I already know I can do better then that no pressure and never again having to take crud at work. So I go the opposite way I now play poker for as long as I can consistently win and make a material difference to my position, when that no longer applies which will become an eventuality for everyone if I am right, then I walk away from playing the game for anything but micro stakes or the odd live games for fun here and there maybe weekly tourney at local casino or something.
but the jist of this question is effectively asking if you win enough money to never have to work again/have a need to would you continue? so Lets say by some miracle I find myself winning a big tourney for say $10million, now lets break this down my goal is to be comfortable and stress free $10million would be £8million. £250,000 for the house now leaves me £7,750,000 investing again at 5% gives me £387,500 a year. or £32291 a month, I am a small stakes grinder there is no evidence that I can make monthly income that would be material here, if I was to play in higher stake games I would likely be a big losing player why burn my position away I cant improve it in any meaningful way and I can ruin it. It may or may not be the case that with a lot of hard work, I could get to the position where I could make a 10k plus a month, or it may be beyond me. Either way though if I could do this it would need a huge amount of effort for a limited relatively short term period, why bother?
at this point unless I am been sponsored for a large amount to keep playing or be a poker celebrity I walk away from the game in a significant way, would I say I would never play again? of course not I enjoy the game so why stop but it would be small stakes and from time to time.
s0ftdumps
Rock Star
Platinum Level
It seems like you have a strong opinion about the assumption that poker is considered a job by many in the forum. It's interesting to hear your perspective on how winning a million dollars wouldn't necessarily change your life drastically, and that poker would remain a full-time hobby rather than a career.
Everyone has different views on the role of poker in their lives, and it's clear that you value other aspects, such as your current job, hobbies, and relationships. Winning a million dollars, as you mentioned, might lead to some lifestyle adjustments but wouldn't fundamentally alter your priorities.
The point about a million dollars not going as far as it used to is also a valid observation, highlighting the changing economic landscape. It's always intriguing to consider how individuals would navigate such financial windfalls.
Cheers to your contentment with your current situation and your perspective on the potential impact of a significant win!
hardongear
Visionary
Silver Level
Anyone grinding 6-8 hours a day multi-tabling is treating it like a job as it's beyond a hobby at that point. Whether they consider it job/work or not doesn't much matter you're keeping job/work hours. How many in this forum do that I have no idea. Looking at the number of players playing on every site daily a lot are treating poker like a job.
Agree we all have different views. I like living, enjoying life, having a healthy job/work place and well I like earning money easy as I can. Poker isn't easy money regardless of what most believe and not a great way to make a living for the majority. Online is hard and you gotta worry about being cheated at the stakes you need to play to make a living. Live poker isn't much better although 1/2, 1/3 and 2/5 are easier then playing online. Putting up with a table of degenerates, the 2-3 assholes you get at every table and all the smelly guys who can't shower isn't a joyful place to work and make money either. To each their own thou.
I'm 51 years old and getting close to retirement already. 1m puts me there. Simple fact as most the men in my family don't live to be 90 years old. At best I got 20-25 good years left where I'll still be pretty healthy and capable after that I don't or won't need much money as I won't be sitting around suffering in pain or in hospital till the end either. So 1m doesn't have to go far for me.
If I was in my 20's my attitude, opinion and outlook would obviously be a lot different and 1m wouldn't even come close.
Cheers!!!