All in: Knowing what it takes to turn pro
Phil Hellmuth, Scotty Nguyen, Allen Cunningham, Erik Seidel. To most people, these names mean nothing. But to poker players who frequent the felt, these names are synonymous with success. These poker professionals are among the most profitable in the world of live poker. And just weeks ago, arguably the best poker player today – Phil Ivey – surpassed Canadian pro Daniel Negreanu as the all-time live tournament money-winner.
Ivey’s second-place finish in the 2010 Aussie Millions $100,000 buy-in event in late January netted him $600,000, bringing him just shy of $13 million in career earnings and inching him past Negreanu by roughly $413,000.
The careers of poker pros can run the gamut, and not every top player is a top finisher in most or all of the big tournaments held throughout the year.
Some names – ahem, cough, Jamie Gold, cough – owe their chart-topping earnings to a lucky run at an event such as the World Series of Poker. Since popularity of poker’s World Series has snowballed within recent years, so, too, has the payout for the first-place finisher. A few names – such as Gold and Jerry Yang – have been relatively quiet in the world of poker following their World Series championships in 2006 and 2007, respectively, but earnings from the series alone puts them up in the ranks among the professionals.
Sure, a lucky streak and some well-timed plays have given a handful of players enough money to live off of for the rest of their lives, but it’s the majority of the names near the top of the money list that demonstrate the skill of the game.
Matt Damon’s character in “Rounders,” Mike McDermott, summed it up when he asked, “Why do you think the same five guys make it to the final table of the World Series of Poker every year? What are they, the luckiest guys in Las Vegas?”
Professionals have shown us that there is a true element of skill involved with the game, but even with that skill, turning professional comes with a price.
While the majority of us can hardly fathom buying our way into a poker tournament for $100,000, or even covering the World Series’ $10,000 buy-in, there is no doubt plenty of glitz and glamour come with the game.
But turning to poker as a professional career is not a simple, cut-and-dry task. For starters, turning professional will require establishing a bankroll. How much you should begin your career with is a matter for debate – although if you are going to turn to poker for a living, you will need to have enough money to ride out the short-term fluctuations that come with the game. Many experts will recommend you start with 50 times the price of your average buy-in.
Once you have the money to begin, you need to perfect your playing. There are different venues, a wide array of players and a number of varying games of poker.
That’s right, while No-Limit Texas Hold ’Em may be the money-maker in today’s poker culture, there are plenty of others, like Omaha, Razz and Stud, which with you should be not only familiar, but comfortable. Games can be played with limit or no-limit bets, antes, high/low split pots and straddles. If these terms sound like Greek to you, then you have a long way to go before turning into a poker professional.
Playing online and in small cash and tournament games is a great way to acquire experience. The more you play, the more you will understand the ins and outs of the game. In the case of poker, as well as in many of life’s obstacles, experience is the best teacher.
After you have a solid grasp of different kinds of poker, start picking up some literature. Most of the pros out there today will offer insight to the game and have done so in the form of the written word. Books by Doyle Brunson and Dan Harrington – two familiar (and profitable) faces on the poker circuit – are among the game’s most popular.
It’s not necessary to mimic the style of a particular pro, but tips, strategy and theory along the way can better you as a player.
To get more experience, check out Bethany Beach Volunteer Fire Company’s Texas Hold ’Em poker tournament, set for Saturday, Feb. 13, starting at 7 p.m. The buy-in is $100, with two $25 re-buys available. Pay-outs are subject to the number of entrants, with at least $2,000 guaranteed for first place.
Or take a stab at some of the local free games held throughout the area through the Resort Poker League. Visit www.resortpokerleague.com for more information, including where to play throughout the week.
If you want to try your hand at some real money, jump into the poker room in Rehoboth Beach at Poker at the Beach, where each evening a percentage of the evening’s rake is donated to local charities in the community. Doors open at 5:30 p.m., Monday and Tuesday and Thursday through Saturday. Poker at the Beach operates from 1:30 p.m. on Sundays and is closed every Wednesday until summer. For more information, check out www.pokeratthebeach.com.
