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Location: london, United Kingdom

Monday, May 15, 2006

Done the Math

OK did the math and i can make a sustained living at NL50. thats pretty cool.

however im not gonna. With 38 buyins or so im just gonna go for NL100. If I drop to $3k i'll grind at NL50 for a while, but i dont see how i cant beat NL100. its just a mental thing.
On CR theres a guy playing NL400, and it just shows how bad play is that he seems (at least) to be making a profit. so much of his play is fundamentally wrong, and he actually counts to check if he has a straight. lol (but i think hes in the mafia so i'd better not laugh to hard)

got an exam thurs/fri and done virutally no work. this is trouble. im about to get down to it.

heres the math.

8PT/100. on 4 tables (240ish hands per hour)= $38.4. plus at least $8 rakeback bonuses.

multiply by 0.54 (ex rate)

=£25p/h multiplied by 30=£750 per week, times 40 weeks = £30,000 p.a.

so 30hrs a week for 40 weeks= £30,000. SHIP IT. obviously this is IF i can sustain 8/100. worst case scenario is at 6PT/100 its £24,000. that is so obtainable i'm not even gonna sweat.

say i stuck at NL50. my win rate is 11PT/100. again 240hands per hour. its about £22,000

this is considering my rakeback/bonus estimations are conservative ($8 p/h). also its only 30hrs perweek. most likely i'll end up playing over 40, since its a hobby AND a job.
note: 40hrs a week on the most optimistic estimations is £1000 per week, tax free. SHIP IT. i could have much more optimistic estimations, and i'm not accounting for my ability level increasing, and i wont be surprised if i play NL200 after around 4months and NL400 by the end of the year.
i'll probably mess around in some MTTs, but i will only do it outside of 'work hours'

here's a link with info on some of what i'll be doing for a year

worst comes to worst i can always 9-table NL25, which i think is good for at least $30p/h.


Blogger EthanHunt said...

curious if you say that it is tax free because of british tax law or because you will just choose not to report it

4:51 AM  
Blogger andy said...

under british tax laws gambling winnings are not taxable.

11:08 AM  
Blogger Mattastic said...

Hey Andy, fellow Brit here too! Gotta love the tax free part to our gambling!

I'm planning on doing something similar but hopefully going to NL200. I reckon by averaging just 1PTBB/100 on 4 tables, 35 hours a week, 48 weeks a year would come to around £30k, and this doesn't include rakeback or bonuses.

If you don't mind I'll add you to my blog list?

11:57 AM  
Blogger andy said...

hi. thanks for reading, i happy to be added to any blog lists, however i'm guessing you've made a typo blue kow.

i dont think you should ever aim for 1PT/100 at ANY NL table, although should at LHE. I think i could make £40k per year (ex rate allowing) at just NL50, but that would mean playing a censored load of hours per week (and 9-tabling).

also, if i was playing poker for a lving i wouldnt give myself JUST 4 weeks holiday, theres a reason we're trying to be pro gamlbers ;)

12:23 PM  

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