Playing Poker for a "living" with University.

    • Quadzzzzzzz
      Quadzzzzzzz
      Bronze
      Joined: 24.10.2011 Posts: 151
      Hello Guys,

      So in September, assuming I get the grades in my A-Level, I will be going to University in London (King's if you're wondering). Now obviously I will get a student loan for living but this will scarcely be enough!

      Anyway, a little plan of mine developed around using poker as a sort of supplementary income for living. Now London isnt a cheap place to live but lets say I try and make an extra £300 a month through poker which is ~$500. Now part of me thinks this could be achievable on NL50 but that's another argument...

      What I wanted to know is if any of you guys have any experience of this as I can imagine there are a lot of University students there, maybe a few with experience of this?

      Thanks,

      Jack
  • 17 replies
    • LifeDrop8
      LifeDrop8
      Bronze
      Joined: 07.08.2011 Posts: 24
      I would suggest not to try to solve your problems or your costs through poker but anyway thats an advise!Think your money before you do anything my friend!
    • Schnitzelfisch
      Schnitzelfisch
      Bronze
      Joined: 08.11.2008 Posts: 4,952
      What happens if you go on a couple month long downswing? I suggest you get a summer job, and then in London a part time job as well... when you manage to earn enough for 6 months to 1 year of living expenses(seperate from your poker bankroll!), you can transition to fully playing poker.

      That's the safest route. I would suggest you the same if you were starting a new business.

      You can still play poker along a part time job, and you'll enjoy it and not be pressured while playing it. I also suggest that you build a big bankroll rather than cash out frequently.

      Another thing that will be worth your while is paying off student loans agressively as soon as possible (but probably after college when you have more time for income). You might also want to try negotiating a decrease in interest every half a year/a year or so if you make frequent payments.
    • MJPerry
      MJPerry
      Bronze
      Joined: 03.10.2011 Posts: 4,908
      I did this at Kingston Uni, playing NL50.

      However:

      - the games, even NL50, were easier then
      - literally 75% of my income was from clearing bonuses

      If you have a good structure in mind (e.g. deposit at WPT Poker, clear the $500 bonus, then move to Everest Poker and clear that $1,000 bonus, then Betfair Poker for the $2,500...) then go for it.
    • UPAY4DINNER
      UPAY4DINNER
      Bronze
      Joined: 27.09.2009 Posts: 21,921
      Originally posted by MJPerry
      ......

      If you have a good structure in mind (e.g. deposit at WPT Poker, clear the $500 bonus, then move to Everest Poker and clear that $1,000 bonus, then Betfair Poker for the $2,500...) then go for it.
      I think this is solid advice and gives you every chance. You should also take into account previous winrates also. Have you got decent samples prior to this etc.

      As we all know, the games are getting harder and harder and the edges smaller and smaller.
    • bradomurder
      bradomurder
      Bronze
      Joined: 17.10.2008 Posts: 1,329
      If you can win at poker you could do it easy as, $500 per month isn't much. I think you could do it in 20k hands/month

      Dunno if you should do it though, it can be pretty detrimental to your studies and stuff
    • GraemeDR
      GraemeDR
      Bronze
      Joined: 19.01.2011 Posts: 156
      Get a job in a bar like everyone else! When i was a student I managed without a job but I was in Lancaster not London, much cheaper for everything, the whole city is built around students so plenty of pubs and clubs, and a top ten uni. Great to enjoy with no job, but London? You're going to need a job mate, especially because when you've finished uni your degree won't get you get you a job these days, experience will.

      Good luck!
    • MJPerry
      MJPerry
      Bronze
      Joined: 03.10.2011 Posts: 4,908
      Originally posted by GraemeDR
      You're going to need a job mate, especially because when you've finished uni your degree won't get you get you a job these days, experience will.

      Good luck!
      This is very true.
    • Topdog2904
      Topdog2904
      Bronze
      Joined: 08.04.2012 Posts: 33
      The main problem here is that if you don't have enough money to live in London, then I assume you will be depositing some of your student loan.

      I would not do this at all, if you start chasing losses then you could end up losing it all. Giving you a much worse situation. You should only play with what you can comfortably afford to lose.

      Gambling big sums of money whilst at university can be a very bad idea, and also you should be there to enjoy the experience (not playing poker all day, many professionals say they wish they had enjoyed their youth more).

      Honestly, I wouldn't do this whilst you are studying. As someone previously said, just get a job if you can't afford to live.
    • Schnitzelfisch
      Schnitzelfisch
      Bronze
      Joined: 08.11.2008 Posts: 4,952
      Originally posted by MJPerry
      Originally posted by GraemeDR
      You're going to need a job mate, especially because when you've finished uni your degree won't get you get you a job these days, experience will.

      Good luck!
      This is very true.
      Actually, if we're precise, solving problems will :) . But experience helps as well, although IMO it is pretty overrated ;) . I mean this in the sense that you don't necessarily need 10 years of experience to land a good job. If you can show someone that you can solve their problems, they'll hire you, regardless of your experience (in most cases at least, there are exceptions).

      If we're on this topic, we could also say that you don't need a good college to earn a lot of money or land a great job. But since I agree that college is a great back-up plan, I won't go into that discussion :) .

      I was actually planning on going to King's myself as well (had offers from Imperial, Kings and Bristol I think), but then unfortunately decided not to go study abroad. It's one of the best colleges, so you'll probably gain a lot more knowledge than at a crappy college.

      Is it worth a huge loan? It depends. In some cases it is, in others it isn't. In any case, it's usually good to have a backup plan and college is exactly that (+ connections and the ability to find help and resources when you need them).
    • gadget51
      gadget51
      Bronze
      Joined: 23.06.2008 Posts: 5,622
      I may be misunderstanding a little but I have to disagree that going to a 'crappy' college or uni will net you less knowledge. This would be partly due to your own work ethic - or lack of same - your subject, the class sizes and resources available (although this latter could be offset by the Web resource somewhat) and of course the lecturers and their own motivations, desires, etc., etc.

      Because a university has a reputation for greatness does not necessarily mean it is, as reputations are often biasedly maintained by those most likely to benefit, i.e. the university itself.

      Just as an example, let's say you want to take BSc.(hons) mathematics, a 'lesser' uni may afford you much more of an individualised experience, given the small class size and thus often more approachable staff.

      It was shown [a few years ago though], that a history degree from Oxford or Cambridge didn't necessarily mean you could spell or use simple grammar.

      Just my thought on it, but I like sticking up for the little guy! :D


      Anyway, my apologies if I waffled off topic too much.

      Best regards,

      Mal.
    • Quadzzzzzzz
      Quadzzzzzzz
      Bronze
      Joined: 24.10.2011 Posts: 151
      Originally posted by Topdog2904
      The main problem here is that if you don't have enough money to live in London, then I assume you will be depositing some of your student loan.

      I would not do this at all, if you start chasing losses then you could end up losing it all. Giving you a much worse situation. You should only play with what you can comfortably afford to lose.

      Gambling big sums of money whilst at university can be a very bad idea, and also you should be there to enjoy the experience (not playing poker all day, many professionals say they wish they had enjoyed their youth more).

      Honestly, I wouldn't do this whilst you are studying. As someone previously said, just get a job if you can't afford to live.
      No I won't be depositing my student loan, and tbh I think it's probably possible to live of the student loan (and parent contributions) I will receive.

      What i'm saying is I will already have the roll in place for the limit - I have 3 months off to do whatever I please, and a lot of this time will be devoted to an already growing roll. My least estimates are that I should be NL50 by this time but poker is full of swings...

      I just wanted to see any experience of this and in a tough job market it may be a more profitable route. (sound like a hard work dodger!!)

      Also as regards as Uni's go - I'm not sure these days. Its such a weird job environment. However I believe the Uni you go to will have some bearing on what you can do and what jobs you will get. Part of it's networking but at the top end a lot of it will be recognition. I wouldn't say that the knowledge you acquire will be any different in standard.

      Oh btw at the end of my course it is likely that I will be in debt to the tune of ~£43,000. Some may say this is worth it, some may not... particularly considering under the new system I will be paying 2/3% interest + rpi on my loan. :(
    • JonikoP
      JonikoP
      Bronze
      Joined: 15.05.2010 Posts: 600
      If you're going to be in London, you HAVE to play live rather than online. It's WAY fishier than online and your edge should minimise the swings. A few sessions a week should easily cover your £500 a month. Try the Empire Casino in Leicester Square for starters...
    • JonikoP
      JonikoP
      Bronze
      Joined: 15.05.2010 Posts: 600
      You're going to need a job mate, especially because when you've finished uni your degree won't get you get you a job these days, experience will.


      By the way, depending on the job you're looking for, I think this is bull. No way working in your uni bar is going to help you getting a job after uni (unless you want to be a bar manager).
    • Schnitzelfisch
      Schnitzelfisch
      Bronze
      Joined: 08.11.2008 Posts: 4,952
      Originally posted by gadget51
      I may be misunderstanding a little but I have to disagree that going to a 'crappy' college or uni will net you less knowledge. This would be partly due to your own work ethic - or lack of same - your subject, the class sizes and resources available (although this latter could be offset by the Web resource somewhat) and of course the lecturers and their own motivations, desires, etc., etc.

      Because a university has a reputation for greatness does not necessarily mean it is, as reputations are often biasedly maintained by those most likely to benefit, i.e. the university itself.

      Just as an example, let's say you want to take BSc.(hons) mathematics, a 'lesser' uni may afford you much more of an individualised experience, given the small class size and thus often more approachable staff.

      It was shown [a few years ago though], that a history degree from Oxford or Cambridge didn't necessarily mean you could spell or use simple grammar.

      Just my thought on it, but I like sticking up for the little guy! :D


      Anyway, my apologies if I waffled off topic too much.

      Best regards,

      Mal.
      I don't mean a small college or a non-famous college.

      I literally meant crappy professors and assistants who don't provide you with good answers to your questions and in general explain concepts very badly. Sure, you can still make up for it on your own, but it's a lot harder than it could be.

      For example, the professors and assistants at my college are light years behind Harvard's CS50, various MIT online courses, or khan academy. They might have quite a bit of knowledge but if they can't explain the concepts nicely, you're not likely to learn a lot.

      I completely agree that a smaller uni might actually be beneficial, but as I said, I was not talking about size here but the quality of teaching :) .

      I also think that if you went through the videos at khan academy (online, free videos on various subjects), you could obtain knowledge and understanding of concepts which is way superior to the knowledge that you get from regular college lectures.

      It might just be my bad experience but because there are so many good online learning resources (and also books), it is sometimes hard to imagine that you could learn better via lectures.

      Again, this is only my personal experience and I do also agree that even people with degrees from great universities might not have a lot of initiative or good knowledge, but of course it's possible to get through the college via shortcuts and that's usually exactly the case (cheating, studying for the bare minimum, rote memorization...).
    • MatejM47
      MatejM47
      Black
      Joined: 21.01.2010 Posts: 1,193
      I can't bealive this is a poker forum and everyone's suggesting you to get a job :D
    • bradomurder
      bradomurder
      Bronze
      Joined: 17.10.2008 Posts: 1,329
      except me



      besides, we all know he'll do it anyway
    • Topdog2904
      Topdog2904
      Bronze
      Joined: 08.04.2012 Posts: 33
      Originally posted by Quadzzzzzzz
      No I won't be depositing my student loan, and tbh I think it's probably possible to live of the student loan (and parent contributions) I will receive.

      What i'm saying is I will already have the roll in place for the limit - I have 3 months off to do whatever I please, and a lot of this time will be devoted to an already growing roll. My least estimates are that I should be NL50 by this time but poker is full of swings...

      I just wanted to see any experience of this and in a tough job market it may be a more profitable route. (sound like a hard work dodger!!)
      If you have the roll and some spare time, then go for it! :D

      Good luck, I hope it works out for you