25 year old poker player with $100K in savings. Looking for business ideas..

[tutti]

Hello everyone. This is my first post here I'm a 25 year old professional poker player, based in South East Asia. I would like to gradually quit the poker scene and enter the business world. I have about $100K in savings so I'm not really pressured financially at this point. My problem is that I've been playing poker player full time for the past 7 years and I don't really have any other skill at this point. And I don't have the slightest clue what avenue to go on from here. I would prefer something where I can do most of the work from the computer. I appreciate every suggestion!

 

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[Lex DeVille]

Hello everyone. This is my first post here I'm a 25 year old professional poker player, based in South East Asia. I would like to gradually quit the poker scene and enter the business world. I have about $100K in savings so I'm not really pressured financially at this point. My problem is that I've been playing poker player full time for the past 7 years and I don't really have any other skill at this point. And I don't have the slightest clue what avenue to go on from here. I would prefer something where I can do most of the work from the computer. I appreciate every suggestion!

Teach people how to play poker.

 

[tutti]

Teach people how to play poker.

poker training sites are already everywhere these days. thanks for your suggestion!

 

[Lex DeVille]

poker training sites are already everywhere these days

Sure, but people with money will pay top dollar to learn from those who earn big money at poker. A poker site might teach the skill, but it can't teach your specific processes. If I know how to play poker, but I want to be better, then I turn to someone who is better than me to help me improve. If I don't know how to play poker, but I want to get good fast, then I also need a professional, not a website.

 

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[Private Witt]

Are you active on 2p2? I know a lot of poker players who do other businesses to supplement are active in that sites BFI section.

 

[Peal]

I used to play professionally as well. I left a while back to become a marketing consultant.

A pattern you will find on this forum and if you've read any of MJ's books is, everything starts with problems. The most obvious problem in the poker industry is learning how to play profitably. I agree the Internet is saturated with training sites. To Lex's point though, there may be an opportunity to do things differently or more comprehensively.

I would encourage you to think about all of the things you hate about the industry and make a list. Think about your daily grind and what annoys you most. Look at Pocketfives and Two Plus Two to identify stuff that people dislike. Once you've made a list, find a problem or two that you believe you could solve, and that would fit MJ's C.E.N.T.S. philosophy.

Also, do you have any horses? Backing some low/mid stakes players is a nice way to earn passive income.

 

[sparechange]

check out chicago joeys podcast with bill perkins

 

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[Private Witt]

check out chicago joeys podcast with bill perkins

I once had a 45 minute meeting with Chicago Joey, really nice guy. I pitched him a deal I'm following up on in a few months.

 

[sparechange]

I once had a 45 minute meeting with Chicago Joey, really nice guy. I pitched him a deal I'm following up on in a few months.

Pretty dope, he's a cool guy (never met him) but am a huge fan of the show!

 

[QuantumLeap]

How about creating a poker machine learning algorithm with a win rate of 99.99999999999999999999999999999999999999999% (why not 100% because it is impossible)

On the real though:
How about creating a drop shipping platform for gambling related products in your country and neighboring countries. That would be a totally time divested business on your end. As you could just use Aliexpress to order some cheap stuff + the fact that setting up a drop shipping store isn't even hard anymo.

If you like my idea then you could look into shopify + Aliexpress automation etc...

 

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[Private Witt]

Pretty dope, he's a cool guy (never met him) but am a huge fan of the show!

Yah he is cool guy, I think he is a great example on how to grind to becoming a niche authority and also building his power base from a forum and expanding out.

 

[AgainstAllOdds]

Everyone's telling you to keep doing poker this, poker that, bullshit, bullshit.

Let's be honest and look at the numbers. You've played professionally for 7 years. Made $100k. That's $14k/year.

Is that a lot for Manila? Yeah, I guess. Is that something you should be really proud of? Yeah. But is that the highest EV for someone of your intelligence? Probably not.

I'm guessing you're on this forum because you realize that and are looking for a higher EV opportunity. What you need to do is to start educating yourself on other things that you could be good at.

In Manila (mostly north in Pampanga, Cebu, etc) - you can build an outsourcing empire.

Or you could buy a hostel and build it up (there's a thread on some guy in one of the islands doing that on the inside).

Or you could buy Filipino franchises and cashflow them.

Or you could buy a Filipino business and improve it a little .... the list is endless.

If you want - I'll be in Manila likely after quarantine. Makati and BGC. As long as you're not too weird of a guy, I'll buy you dinner and we can have a few beers - talk through what you're passionate about and create a game plan for you to kick a$$. There's lots of opportunities starting out in the Philippines. Hit me up through the forum messaging and I'll give you my Whatsapp.

In the meantime, start educating yourself on what you're passionate about and where you think your skill sets could make an impact. Start wetting your feet.

 

[inputchip]

As long as you're not too weird of a guy

lol, love the disclaimer.

 

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[PureA]

Everyone's telling you to keep doing poker this, poker that, bullshit, bullshit.

Let's be honest and look at the numbers. You've played professionally for 7 years. Made $100k. That's $14k/year.

Is that a lot for Manila? Yeah, I guess. Is that something you should be really proud of? Yeah. But is that the highest EV for someone of your intelligence? Probably not.

I'm guessing you're on this forum because you realize that and are looking for a higher EV opportunity. What you need to do is to start educating yourself on other things that you could be good at.

In Manila (mostly north in Pampanga, Cebu, etc) - you can build an outsourcing empire.

Or you could buy a hostel and build it up (there's a thread on some guy in one of the islands doing that on the inside).

Or you could buy Filipino franchises and cashflow them.

Or you could buy a Filipino business and improve it a little .... the list is endless.

If you want - I'll be in Manila likely after quarantine. Makati and BGC. As long as you're not too weird of a guy, I'll buy you dinner and we can have a few beers - talk through what you're passionate about and create a game plan for you to kick a$$. There's lots of opportunities starting out in the Philippines. Hit me up through the forum messaging and I'll give you my Whatsapp.

In the meantime, start educating yourself on what you're passionate about and where you think your skill sets could make an impact. Start wetting your feet.

This is why this forum is great.

 

[juresesko]

• You can spend 2 years inventing products and not having to worry about money a single bit.

Bring value to people and you use the remaining cash to grow...​

• Real estate...
• Or just buy a business and learn from the inside

Just don't spend your money on stuff you don't need and have it ready for the right opportunity.

 

[Martin Boeddeker]

I would recommend to look into direct response marketing and PPC (saying that as someone who played up to NK1k as a regular a couple of years ago)

These are universal skills that will benefit you for life and very similar to Poker because you calculate the EV of ads instead of cards

 

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[Martin Boeddeker]

In the meantime, start educating yourself on what you're passionate about and where you think your skill sets could make an impact. Start wetting your feet.

Besides what I wrote in my post above this!

 

[Tbone4]

Some months ago I didn't find a well structured poker course on Udemy with English subtitles.

I think every person that doesn't speak English as first language struggle to follow and understand the speech. Personally I watch every English video with sub.

So, in my opinion, it could be an opportunity.

Anyway I found out only crappy courses and I didn't buy anything

 

[Andysykes]

Everyone's telling you to keep doing poker this, poker that, bullshit, bullshit.

Let's be honest and look at the numbers. You've played professionally for 7 years. Made $100k. That's $14k/year.

Is that a lot for Manila? Yeah, I guess. Is that something you should be really proud of? Yeah. But is that the highest EV for someone of your intelligence? Probably not.

I'm guessing you're on this forum because you realize that and are looking for a higher EV opportunity. What you need to do is to start educating yourself on other things that you could be good at.

In Manila (mostly north in Pampanga, Cebu, etc) - you can build an outsourcing empire.

Or you could buy a hostel and build it up (there's a thread on some guy in one of the islands doing that on the inside).

Or you could buy Filipino franchises and cashflow them.

Or you could buy a Filipino business and improve it a little .... the list is endless.

If you want - I'll be in Manila likely after quarantine. Makati and BGC. As long as you're not too weird of a guy, I'll buy you dinner and we can have a few beers - talk through what you're passionate about and create a game plan for you to kick a$$. There's lots of opportunities starting out in the Philippines. Hit me up through the forum messaging and I'll give you my Whatsapp.

In the meantime, start educating yourself on what you're passionate about and where you think your skill sets could make an impact. Start wetting your feet.

Been to the Philippines many times, do your research, before leaping ,i've been bit a couple of times. The sad part is the ideas i worked on would of worked if the person i helped couldn't resit taking the money. One was a tuk tuk business. Interested to hear your thoughts AAO

 

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[smtlaissezfaire]

Hello everyone. This is my first post here I'm a 25 year old professional poker player, based in South East Asia. I would like to gradually quit the poker scene and enter the business world. I have about $100K in savings so I'm not really pressured financially at this point. My problem is that I've been playing poker player full time for the past 7 years and I don't really have any other skill at this point. And I don't have the slightest clue what avenue to go on from here. I would prefer something where I can do most of the work from the computer. I appreciate every suggestion!

Have you ever looked at trading/investing? There's a reason why so many poker players get involved with the markets (a natural understanding of betting + odds distributions).

 

[Tim Wallace]

Everyone's telling you to keep doing poker this, poker that, bullshit, bullshit.

Let's be honest and look at the numbers. You've played professionally for 7 years. Made $100k. That's $14k/year.

Is that a lot for Manila? Yeah, I guess. Is that something you should be really proud of? Yeah. But is that the highest EV for someone of your intelligence? Probably not.

I'm guessing you're on this forum because you realize that and are looking for a higher EV opportunity. What you need to do is to start educating yourself on other things that you could be good at.

In Manila (mostly north in Pampanga, Cebu, etc) - you can build an outsourcing empire.

Or you could buy a hostel and build it up (there's a thread on some guy in one of the islands doing that on the inside).

Or you could buy Filipino franchises and cashflow them.

Or you could buy a Filipino business and improve it a little .... the list is endless.

If you want - I'll be in Manila likely after quarantine. Makati and BGC. As long as you're not too weird of a guy, I'll buy you dinner and we can have a few beers - talk through what you're passionate about and create a game plan for you to kick a$$. There's lots of opportunities starting out in the Philippines. Hit me up through the forum messaging and I'll give you my Whatsapp.

In the meantime, start educating yourself on what you're passionate about and where you think your skill sets could make an impact. Start wetting your feet.

Honestly, I think your response to the OP is unnecessarily condescending and assuming.

"As long as you're not too weird of a guy, I'll buy you dinner and we can have a few beers...." <-- Really?

I can't even imagine what that line would read, if you were Elon Musk or Mark Cuban.
Is it really necessary to ride such a high horse, in order to offer someone an "opportunity" to pick your brain?

You begin by saying "Let's be honest and look at the numbers," but since you were too busy looking down on the guy, you couldn't honestly look at the numbers yourself. As presented by him, at least.

What you saw: This poor fella spent 7 years working for a total of $100k ($14k/yr according to you).

What someone who actually looked at the numbers saw: This guy spent 7 years working, and of his total income, he was able to save $100k.

He never said his income from poker for 7 years was $100k. Maybe it is, maybe it isn't, but that would be nothing more than an assumption on your part.

All he said was "I have about $100K in savings so I'm not really pressured financially at this point."

Except you somehow believe a poker player in Manila saved 100% of his online income for 7 years, then I'm not even sure where you're coming from.

 

[Dangerous Donna]

Teach people how to play poker.

Hey ! Where can I read about C.E.N.T.S? I missed that train ,, thanks!

 

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[Lex DeVille]

Hey ! Where can I read about C.E.N.T.S? I missed that train ,, thanks!

About

About The Fastlane Forum: A Community for Startup Entrepreneurs

www.thefastlaneforum.com

 

[Dangerous Donna]

About

About The Fastlane Forum: A Community for Startup Entrepreneurs

www.thefastlaneforum.com

GREAT, TY,, I LIKE YOUR STYLE

 

[tutti]

Tim Wallace, that's right. I never said I made 100K over my career. The number is more like 300K (of which I lost about 100K because of investing in some other poker players who lost me money or stright up scammed me.. happens a lot in this industry).

I can probably still be making 50 to 100K/year for the next few years at least, the problem is that the competition is getting tougher every year and most money in this industry are now in the private homegames which are not easy to access unless you're good at networking/a$$ kissing, so the income ceiling is getting lower and lower (right now there's maybe a handful of people who still make 1m+ a year constantly)
My other concern is that, even though playing poker for a living it's fun, it's not a lifestyle that I wanna have in my 30s.

So I guess the plan is not to quit poker right away but to diversify my income and gradually move to something else.

 

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[Private Witt]

Tim Wallace, that's right. I never said I made 100K over my career. The number is more like 300K (of which I lost about 100K because of investing in some other poker players who lost me money or stright up scammed me.. happens a lot in this industry).

Unreal the scamming in poker.

What do you think of what Jungle Man did with that ghost playing on those high stake online games with Bill Perkins and Dan Bilzerian?

 

[ExaltedLife]

Hello everyone. This is my first post here I'm a 25 year old professional poker player, based in South East Asia. I would like to gradually quit the poker scene and enter the business world. I have about $100K in savings so I'm not really pressured financially at this point. My problem is that I've been playing poker player full time for the past 7 years and I don't really have any other skill at this point. And I don't have the slightest clue what avenue to go on from here. I would prefer something where I can do most of the work from the computer. I appreciate every suggestion!

Buy a pick up truck and an oil pump for the bed, hire two labourers with a background in concrete to drive around spraying and wrapping house foundations, the jobs which you get from your computer by reaching out to construction companies. Easy to start, easy way to put your money to work, fast cashflow.

 

[ExaltedLife]

Buy a pick up truck and an oil pump for the bed, hire two labourers with a background in concrete to drive around spraying and wrapping house foundations, the jobs which you get from your computer by reaching out to construction companies. Easy to start, easy way to put your money to work, fast cashflow.

Hm nevermind, building codes are probably way different in SE Asia than in North America.

But the principle is the same. With a relatively low investment in good equipment, and by hiring workers, you can start a mostly hands - off brick and mortar company in the trades.

 

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