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Venturing into other industries as a poker player

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Venturing into other industries as a poker player

Hi there,

I have been a professional poker player for about 4 years and starting to want to venture into other things. The most obvious things that I can consider doing is poker affiliate business or some sort of coaching thing. Is there anything else I can do where I can put the things that I have learnt in poker to use?

I enjoy playing poker but the future of the poke industry is so unpredictable that it seems like I should be finding something else to do and have poker as a 2nd job.

Anyone in the same spot as me who want to share some of thoughts?

3 Comments

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Phil Galfond 12 years, 3 months ago
I haven't ventured into business outside of poker, but I know that I will one day.

The skills you build in poker (if you're learning the right way) are applicable to almost anything. Being a good thinker, understanding risk-reward and EV, thinking ahead about likely outcomes/scenarions (how a hand could play out if you raise), and considering all possible options- all of these things aren't specific to poker and poker business... they work everywhere.

You will need to do a lot of research on whatever field you'd like to enter, but don't limit yourself to poker. Anything you're interested in or have knowledge of is a great start. Expect yourself to make mistakes and learn from them, so don't invest everything you have into your first venture.

Good luck!
Schu 12 years, 3 months ago
^all true phil.

Unfortunately OP, you are going to need work experience to get ahead in the real world regardless of how well you can organize your thoughts and analyze issues. You have the correct tools to begin to study for another career, but you're not going to be hired for it directly off the street.

You may be able to do something related to the poker room or casino work if that's your goal... or you may be inclined or have proclivities to do poker related activities that are perhaps poker merchandising in nature, but you most likely would need to partner(provide the capital) with others that already have the skills in those markets.

best advice, is if you are of limited means, is to go back to school for something that you really love and keep playing poker on the side. Poker is not going anywhere despite the leveling off of the influx of new players and the tighter and tighter margins of play.
James Vogl 12 years, 2 months ago
I disagree with Phil on this. I think poker lends itself to very few other disciplines in life outside of gambling and the vast majority of poker players are extremely one dimensional. For example how many successful pro players do you know that have gone on to do anything outside of poker successfully?

I made the move from poker into trading back in 2004 and think there is the highest skill crossover there. However, it is super competitive, you need a degree and be lucky to get a first job in the current environment and then work incredibly hard at it for a long time to get anywhere.

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