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I have a dream...

MohicanMohican Member Posts: 1,435
edited January 2010 in Poker Chat
So said Martin Luther King and so do I. His involved racial equality and civil rights, mine invovles me sitting
at home playing poker for a living and avoiding the 140 mile round trip to work.
Anyone sharkscoping me will see how far i'm away from this but it has got me wondering two things-
a) Are all winnings from poker tax free? If so, does that mean poker pro's pay no income tax?
b) What level do you need to play at cash to grind a living out(paying yourself £1700 a month)? As the saying goes,Tournaments for show, cash for dough.
Just a few musings from Planet Mohican, any views/mickey taking/serious points?
regrads,
Mohican
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Comments

  • Mr_MiyagiMr_Miyagi Member Posts: 2,031
    edited January 2010
    all winnings from gambling are tax free.


    also i watched Last of the Mohicans last night and it is amazing. Which one are you?
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  • DOHHHHHHHDOHHHHHHH Member Posts: 17,929
    edited January 2010

    I like how u guard against the "micky takers" which are predictably gonna have their say. Very good post, n I will be interested in seeing the replies......

    I live off what I earn from poker at the minute, I wudn't say it was earning a living, just getting by.....Dno about the tax questions but u can definately claim jobseekers allowance - having just graduated from uni Im looking for a job, but being very 'picky' lol - 50 quid a week aint bad - BTW, took Shann's advice and dloaded google chrome this morning - It keeps underlining all my words in red!!!! grrr.

    Be interested especially in the response to the question about stakes - what level u need to play to be a proper poker player? I thinit cud easily be done at 25/50, 2 double ups a day (including weekends) and ur taking home 700 quid a week? - not too shabby!!!

    DOHH
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  • NoseyBonkNoseyBonk Member Posts: 6,184
    edited January 2010
    Winnings are tax free in this country because of our gambling/tax laws :) WOOHOO something actually good about Britain!

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  • MohicanMohican Member Posts: 1,435
    edited January 2010
    In Response to Re: I have a dream...:
    all winnings from gambling are tax free. also i watched Last of the Mohicans last night and it is amazing. Which one are you?
    Posted by Mr_Miyagi
    The one with the big chopper.
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  • Mr_MiyagiMr_Miyagi Member Posts: 2,031
    edited January 2010
    Ah, Chingachgook. My favourate one. 

    If you are as good with cards as you are at forward rolls people better watch out for you.
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  • MohicanMohican Member Posts: 1,435
    edited January 2010
    In Response to Re: I have a dream...:
     I thinit cud easily be done at 25/50,
    Posted by DOHHHHHHH
    Pounds or pence?
    Cos if it's pounds it'll be a long while before i get that sort of bankrol!!!!!
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  • DOHHHHHHHDOHHHHHHH Member Posts: 17,929
    edited January 2010
    nooo pence of course, think about it, if u can play 2 tables, for 8 hours a day, having put 50 quid on each, u have 8 hours to double ur money on each, giving u a profit of 100 quid a day (on bad days u might lose a few quid, but good days ur guna be 400/500 up - will balance it out) - if we're talking pounds, at 25/50, steral one set of blinds, sit out, stand, job done, days wages earnt.lol
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  • scotty77scotty77 Member Posts: 4,970
    edited January 2010
    it can be done at 20nl with RB and multitabling.


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  • elsadogelsadog Member Posts: 5,677
    edited January 2010
    In Response to Re: I have a dream...:
    all winnings from gambling are tax free. also i watched Last of the Mohicans last night and it is amazing. Which one are you?
    Posted by Mr_Miyagi

    Daft Question ........... He's the last one!

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  • ACESOVER8sACESOVER8s Member Posts: 1,307
    edited January 2010

    I have no intention of playing poker for a living (all theory and no talent i'm affraid lol) but have got through those "Inbetween" Job months by living on what i made. It was a site in $ (not to be named as SKy don't like the advertising) so i played mainlly 50c - $1. Things change when you need the money so it's important to play at a level where your game can more than hold it's own.

    If your going to give it a shot then bankroll up properly and factor in contingency money for if it all goes **** up :)

    Don't be too proud to move down if you take hits, chasing losses is a sure fire way to mess up your roll.

    Your limit will depend on how many tables you can play and how many hours you are planning to do it for. As Scotty said there are people doing it for a living at £20nl and getting by but they are prob playing 6 - 8 tables. The buy in though would prob allow for a solid ABC player to grind a decent profit without having to get creative

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  • offshootoffshoot Member Posts: 1,049
    edited January 2010
    yeah you can definitely make a living at 25/50.
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  • Seagull158Seagull158 Member Posts: 1,100
    edited January 2010
    In Response to Re: I have a dream...:
    nooo pence of course, think about it, if u can play 2 tables, for 8 hours a day, having put 50 quid on each, u have 8 hours to double ur money on each, giving u a profit of 100 quid a day (on bad days u might lose a few quid, but good days ur guna be 400/500 up - will balance it out) - if we're talking pounds, at 25/50, steral one set of blinds, sit out, stand, job done, days wages earnt.lol
    Posted by DOHHHHHHH
    But then I saw Dwan lose $300K 2 nights ago!
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  • DOHHHHHHHDOHHHHHHH Member Posts: 17,929
    edited January 2010
    Thats probably like 100 quid to me or u
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  • gloria59gloria59 Member Posts: 10
    edited January 2010
    In Response to Re: I have a dream...:
    In Response to Re: I have a dream... : Daft Question ........... He's the last one!
    Posted by elsadog
    lol  pure logic, i like it.  Hope all yor dreams come true Mohican. 
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  • ACESOVER8sACESOVER8s Member Posts: 1,307
    edited January 2010
    In Response to Re: I have a dream...:
    Thats probably like 100 quid to me or u
    Posted by DOHHHHHHH
    Rumour has it that after Durrrrrrr stacked off to isildur that it's only his full tilt sponser payments that have kept him afloat, thats why he had to move down. don't think he's skint but as far as online funds he was busto for a while
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