OMG! Phil Galfond Needs a Day Job
High-roller Phil "OMGClayAiken" Galfond writes on his blog that he can't "rely on high stakes poker for my income."
Galfond was extremely successful in 2008, winning seven million dollars in total in high-stakes cash games according to the Highstakes Database, but so far this year he has "only" won $500,000.
The swings at the nosebleed tables at Full Tilt are huge even for a solid player like OMGClayAiken, and he's starting to get doubts about his future poker career.
"Playing around with some variance calculators has made me realize that at the frequency the nosebleeds run, I won't see the long run for about 5+ years. I wasn't even planning on playing that long. It's a little disheartening to know that I have so little control over my month to month results," he writes on his blog.
"I think I need to come to terms with the fact that I can't rely on high stakes poker for my income. My EV is still very good, but I need to have other reasons for playing: the challenge, fun, pride. Playing 50k hands a year of 300/600+ for the money is just setting myself up for dissapointment. Even with a decent edge, I can't expect to come out a significant winner more than 60% of the time."