Why playing poker professionally is ill-advised and persons considering such an endeavor should understand that it is a higher than normal risk, there are still personalities who will want to attempt this or have other personal reasons why they will want to pursue this, including making larger sums of money. So, for those who want a regular income of approximately fifty to one hundred thousand per year, regularly, how is that accomplished?
It is not surprising that most people who want to play poker professionally have the first three skillsets for actually making a consistent living playing poker. The first skill is to research and understand that being able to draw a consistent income in poker requires mental and mathematical skill. There are certain minds and personalities that are well equipped for playing poker.
As with any learning process, the learning curve can be steep, and learning under the pressure of playing poker as a source of livelihood can lead to imbalance in skill development due to pressure. Research, study, and skill development in poker playing should be approached like taking a couple of night course per week at a small, local institution. It requires that amount of time as well as self-testing and discipline over time to actually be able to be good at it.
Furthermore, some of the mathematical and statistic skills that are gained are transferrable to other areas of business and entrepreneurship, provided a person has to long term strategic ability to be flexible and to make that shift when the time is appropriate.
Playing poker professionally requires actual accounting, not simply if a person is required to report their income to the government, but because there is a large amount of cash flow and investments, players must be able to keep a watch in an organized spread sheet that can be analyzed to observe patterns if they want to understand whether they are actually profiting from poker.
There are inevitable ups and downs or swings in expected profit in entrepreneurial endeavors. This is to be expected in any endeavor where there is risk involved. Because poker is a higher-end risk or an extremely risky endeavor, it is necessary for individuals to persevere and have back up plans that can account for times when poker income is operating at profit loss.
The first three skills are skills and personal resources that can be developed. The last skill, long term strategy, is one of the most difficult to apply to professional poker. One, not many people who want to play poker professionally approach poker as a full time endeavor that requires a vision and a mission or clear plan of action. They also do not approach poker as a means of budgeting for their living expenses as their dependents if they have them as well as expenses for improving quality of life and expenses for supporting worthy causes. Poker also carries an addictive quality that can combined with other addictions or unhealthy behaviors, which then becomes a psychological and spiritual issue that can impact other areas of life. A long term strategy is what a serious poker player utilizes to avoid these issues and requires personal analysis of life as well as understanding of personal weaknesses, drives, and motivations. If a person is able to take inventory of each of these things, this later stage is where each of the skills, mathematically, mental, disciplinary, perseverance, and self-analysis are applied and tested within the real world and the actual results can be seen over the course of three to five years.