Patrick Leonard stating the hard truth "you cannot longer make it in online poker"
Patrick leonard, one of the best online mtt players sayed a couple of day ago this reality, literally stated on the podc
The sad part is the average US home price is 419k - just googled it. Say you're a first time home Buyer that puts 3.5% down and finance 400k at the average mortgage rate of 6.67%, that's roughly 26k in interest alone per year, or about 2200/mo. Add in taxes, mortgage insurance, insurance, principle payment, any HOA fees, and that average mortgage shoots up to about 3300/mo. We've also seen the price of goods in the US shoot through the roof post COVID - 6 rolls of Bounty paper towels is 30 bucks
Yet according to stats only 17% of families of 4 or more earn above $100 000 a year.
Also:
“In 2023, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S. dollars”
I get it, housing and everything else is crazy expensive. I remember when I was in Vegas in October last year and I talked to a guy from San Francisco. He was renting a 1 bedroom apartment and was paying $4500 + utilities. He was shocked when I told him I rent a 4 bedroom seaside townhouse with a yard and a big roof for $1500 including bills in Europe.
Our tax rates are similar and our health care is completely free (and really good too).
The sad part is the average US home price is 419k - just googled it. Say you're a first time home Buyer that puts 3.5% down and finance 400k at the average mortgage rate of 6.67%, that's roughly 26k in interest alone per year, or about 2200/mo. Add in taxes, mortgage insurance, insurance, principle payment, any HOA fees, and that average mortgage shoots up to about 3300/mo. We've also seen the price of goods in the US shoot through the roof post COVID - 6 rolls of Bounty paper towels is 30 bucks
yeah the main cost is housing and healthcare
that average is severely dragged down by the south and midwest
if you're on either coast near a major population center then 400k is an impossibility
not seattle, but king county with all the surrounding suburbs has an average home price of almost 900k
this is pretty typical and also true for the rural parts of at least the east coast as well
these two are the top results for the area where i grew up (tri state region of ct/ma/ny) and that's pretty typical
low income housing just doesn't exist in the countryside unless the countryside itself is very poor and that is only found in the deep south and midwest
work from home post covid has only made things worse because now the high earners from the cities are no longer confined to places within commuting range
meanwhile my friend who i'm staying with in seattle has a daughter with some undiagnosed stomach issues causing some discomfort - they've already dropped over 20k this month in medical expenses after insurance
it's really frightening how much is required in america to comfortably raise a family in a nice area with a reasonable job market
Yet according to stats only 17% of families of 4 or more earn above $100 000 a year.
Also:
“In 2023, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S. dollars”
I get it, housing and everything else is crazy expensive. I remember when I was in Vegas in October last year and I talked to a guy from San Francisco. He was renting a 1 bedroom apartment and was paying $4500 + utilities. He was shocked when I told him I rent a 4 bedroom seaside townhouse with
1% in prison
6% in trailer parks
3% in government housing
so the that's the bottom 10%
filter out that 71% do not live on the coast and that explains how so many americans can make it on 75k a year family income
they are living in homes like this in kansas
I think that's gonna change though. I've convinced my family to move to the midwest. I'll be following them in a year or so, trading my Vegas condo for a house with a big yard and a basement.
Got a friend who makes low six figures and lives in a studio apartment in California. He's moving to the midwest to buy a great highrise condo in a nice downtown area.
I'm surprised it's taken so long. The cultural advantages of the big cities are pretty trivial now. In the past it was like, if you lived in Indianapolis, you might not have sushi or thai food, it would take a lot of work and expense to see many non-blockbuster movies or hear non-top 40 music, etc. And it might be dramatically harder to be gay or something like that. Now it's more like, there are only 5 really good Thai places instead of 20 and none are as good as the best ones in Vegas, but they are still quite good.
It already happened in places like Boise and Vegas. We're coming for the last remaining cheap houses next. I think investors are buying them up too.
Also, yes, our country is run by very bad people. A family member pays over $2000/mo for HC for his family. His son had some mental health episodes and spent some time in hospitals. His insurance did not cover the bill, which was over $20,000. There wasn't a candidate on my ballot, for senate, president or congress who would have it any other way.
Par for the course for Pads. His comments were purely to dissuade potential serious players from putting effort into studying and getting better, keeping their skill level down. He will continue to play and do CFP himself.
Par for the course for Pads. His comments were purely to dissuade potential serious players from putting effort into studying and getting better, keeping their skill level down. He will continue to play and do CFP himself.
that's partially the vibe I get from a lot of pros who say you can't make it. It's like they dont want anyone else eating at their table, which I understand in a way but it's pretty disingenuous
Yes, most good poker players should be able to beat .25 NL at a decent rate. This level is full of less experienced players who often make mistakes that are easy for a competent player to exploit. A good player could aim for a winrate of 5 to 10 BB/100 hands, depending on hand volume and adaptation to table dynamics.
that's partially the vibe I get from a lot of pros who say you can't make it. It's like they dont want anyone else eating at their table, which I understand in a way but it's pretty disingenuous
You are likely right but it’s really dumb. Just don’t say anything rather than become a liar in the faint hope it possibly improves your long term EV
that's partially the vibe I get from a lot of pros who say you can't make it. It's like they dont want anyone else eating at their table, which I understand in a way but it's pretty disingenuous
Pretty much this. Other side of that coin is the affi who will say all the right words to keep you raking for him.
You are likely right but it’s really dumb. Just don’t say anything rather than become a liar in the faint hope it possibly improves your long term EV
Its the GTO thing to do if all you care about is your own EV. Reveals to everyone else whos smart enough to see what you are doing what kind of person you are though.
Patrick Leonard can no longer make it in online poker? (by playing cards himself and not selling courses)
