The troubles of an online poker pro

April 2011 Results
Table Hours - 100
Hands - 81k
Table Profits - +$6923
Bonuses - $6800
Net Profit - +$13,723

If it were not the fact that I be publishing my monthly results on my blog right now, very few would believe that I'm doing ok. That's because the majority of people tbh, don't understand what poker is. They think its like blackjack or roulette - pure gambling. I'll usually forgive people's ignorance of the facts since it wasn't that long ago (maybe 5 years perhaps) that I'd have said the same thing, but what I won't be so forgiving of is if you try and argue with me about the particulars when it comes to taxation of poker in the UK - you really should know better, especially if your career is in finance/accountancy.

If you'd not talk crap out of your arse  done your research properly, you'd have found out that there is no such trade as a professional gambler in the UK. It doesn't matter if you're skilled at it or not, if you play recreationally or everyday, or if you win big or small, its not taxable in the United Kingdom. I was always pretty good at doing my homework...
http://www.hmrc.gov.uk/manuals/bimmanual/bim22017.htm

But not being taxed has its downsides too. Most notably, the ability to obtain credit - specifically, you can't get a mortgage if you play poker for a living. How do I know this - well, again I've done my homework. I went to speak to a mortgage advisor in a retail bank, and when I told them what I did for a living, they just smiled and said no.

So this leaves me having to save up enough to buy outright in cash. Given the fact that house prices are pretty much still at their 2008 peak prices, especially in London and the S.E., It's likely I'm to have to budget for around £200k ($320k USD) just to even afford a 2 bed house on the very edges of London. Having lost/spent/wasted most of my previous savings back in Macau in 2009, and being busto for the second time in my life I started working towards this goal at the beginning of 2010.

Its not easy being a professional poker player, especially if you're trying to buy a property. Infact, its damn tough. As I've said before, I've not had a holiday for over 18 months now. Last Christmas and New Year's was a miserable time that I'd rather not talk about. I know I'm going to Vegas in a few months time, but its not a proper chance to really get away and not have to think about poker for a while - I've got a fair bit of reading up and playing tournaments as practice for the main event before I fly out there. Its still work that I need to do to prepare, in addition to my normal daily cash grind.

The reality is that, if I'm totally honest, it feels like I'm trapped in another rat race. The Supernova Elite rat race. The must buy a house rat race otherwise I'll be stuck living like a busto student above the restaurant for another year. Not allowed to have another dog (for obvious reasons), can't go on holiday or get a new car because we have to save for a house, can't have a bbq because we don't have a garden. FML.

It sucks especially since I'm so desperate to get out of this place, but at the same time I'm feeling well and truly burnt out. It feels like I've lost most of my motivation that kept me working hard last year. Every month this year so far, I've failed to hit my targets by a long way. I did only 100 hours on the tables last month, even though I spent alot of time working on my game away from the tables and playing less tables simultaneously, 100hrs/81k hands is poor for a SNE grinder. Even this time last year, I was much further into the Elite chase than I am right now.

And so I was told today, by someone I look up to and trust, that speaking with me they felt that I was playing poker like I'm just trying to 'survive', and not really trying to 'kill the tables'. That really struck a chord with me, because basically, he's right. We talked a little bit more about this, how I should be trying to be the best player that I can be, and not to trouble myself with trying to be as good as other players. For that in itself, I am certain that I can become a much better player if I commit to working hard enough to improve. The trouble right now is, how can I find the motivation to take it to the next level?