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How do poker pros live without proof of income?

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BunBun00
Joined: 13.09.2023

I mean how do poker pros who rely on poker as their sole income, live without proof of income. If you want to rent an apartment you need proof of income, if you need a loan to buy something you need proof of income. Hell sometimes you can't even travel without proof of income. So how do they do it? I don't think the bank or an apartment company will accept a poker graph or a log of winnings.


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Coach
Kyyberi
Joined: 09.07.2010

At least in Finland banks require results from several years, and if person can prove that he has steady incomes and good savings, they will give mortage etc.

For renting etc. some landlords require more and some less. Quite often pro's have savings in stocks etc. that can assure landlords from their capability for payments.

For those "pros" who have no savings and pretty much use all their profits to get food etc. and are on constant risk of losing the bankroll are different case.


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benben77
Joined: 06.03.2024

Living off poker winnings can make providing income tricky for everyday stuff like renting or loans. Some players use bank statements with steady deposits or tax returns to show their earnings. Working with financial advisors or getting a co-signer can be a workaround for leases or loans. So finding unique solutions and having open talks to make it work in the real world.:f_thumbsup:


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taavi1337
Joined: 29.05.2009

Because professional poker is a lonely profession, they usually use other people for getting around, such as wife etc. No need to do everything alone from your own account. There isn't an extreme need to do so. So they tend to go towards more natural approach, living with their parents, letting wife choose and buy the house etc.


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BunBun00
Joined: 13.09.2023

The idea of being a pro poker player sounds glamorous at first. But there are so many hurdles to overcome. Everything can be a struggle. Kyyberi mentions stocks and years of good results that the poker player have to provide in order to convince the bank or landlords. It's awkward & difficult to try to explain and convince the recipient. And even then you are at their mercy. Maybe someone should try using how much rake/rakeback they paid/received as proof


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Rhodriguez
Joined: 01.10.2006

Tax statements would be an option to show income as well.


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BunBun00
Joined: 13.09.2023

Yes if you live a country that considers poker winnings as taxable income.


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