INDUSTRY FORUM

Comments

  • zbark2

    • 265

      RG Overall Ranking

    • Ranked #34

      RG Tiered Ranking

    For the past 2+ years I’ve been that guy who has a full time job and sneaks in DFS when he can after work.

    Slowly but surely, Ive grinded my bankroll to over 5 figures. Knowing that I’m a positive player without even putting my full focus on DFS, Ive been considering the idea of playing full time. It is truly something I enjoy and my favorite hobby.

    If I were to go for it…

    My one question is what is the lowest bankroll that full-time players feel comfortable with when starting DFS as their main source of income? Is a 5 figure bankroll enough to get started full time?

    Any pros out there that can give advice of what they started with?

    Thanks!

  • anilprao88

    • 18

      RG Overall Ranking

    • Ranked #16

      RG Tiered Ranking

    • 2017 DraftKings FFWC Finalist

    • 2018 DraftKings FBWC Finalist

    Five figures is a pretty large range. Not trying to pressure you into giving specifics, but if it’s on the higher side then I think you could make it work without much of a problem. If you’re closer to 10K, then I think it’s much more iffy. Also you should make damn sure you’re profitable before doing it.

  • Bigo1

    Totally agree with Anilprao. Would also add that 2Y is a very long period, you should check your RoI regularly. Many players were profitable two years ago but saw their RoI turning red in the last 6 months. Make sure it is not your case.

    Also, we do not know about your job situation. If your skills are in demand and you are confident you can re-enter the job market easily (if things go wrong and/or you get bored of DFS), it is much easier to take the risk.

  • cccalloway

    Some things need to be answered here. How much do you want to make? What do you need to live? Is it 30k/50k/100k+?

    If you are going to do this as a pro, I would think you need close to 6 figures to make it worth it.

    Also, as you go up in stakes, you are likely to see your ROI decrease and you will likely need to play bigger games to get enough money in play to get the ROI you want to equate to a good income so take that into account.

    Also, I would discout your current win rate significantly to factor in variance of this game so that you don’t end up going broke. DFS is a lot different playing to pay the bills vs playing for extra spending money. Make sure you are mentally prepared to handle that.

  • flip4flop

    Take 2-3 weeks of time off from work if you have the vacation time. Try it out full time. If you flop you can go back to work if you don’t then you can give it a go as long as you have a back up plan. Small sample size of 3 weeks to see what happens but that would be my advice to try and safely try it without jumping straight into it.

  • mellofellowsu

    Given my current salary and lifestyle, I’d have to prove I could make $100k a year doing this for at least two consecutive years and be sitting on $200k in the bank for me to be totally comfortable doing this for a living. So it’s safe to say I never will be a full time DFSer.

    Oh and if you’re married you shouldn’t even think about it IMO.

  • w3stcoastoff3ns3

    Once the DFS picture becomes more clear (DraftKings/FanDuel merger, more states making DFS legal) I think it would be a better time to try and go “full time” with DFS. I would recommend that maybe you find a work from home job or drive Uber or something to keep a documented income rolling in. I have thought about this a long time but I make too much on my daily job and I have too many benefits. If I ever hit a nice amount of money $100k+ then I will drop down to a more laid back position. You have to keep in mind that playing DFS full time does not come with health care, 401k, pension, etc.

  • draped

    I’m not a pro, but some things to think about.

    - How big should my bankroll be? If you are going pro then you should have some sort of bankroll management setup. Use that as the basis for calculating your projected income. if you play x% of your bankroll in cash games per day and you expect a y% ROI, then calculate how much income that would generate per year given a bankroll of z dollars.

    - Another thing to keep in mind is that your ROI is going to be lower the more money you play. I think its fairly safe to assume that the higher stakes you play the less you will win due to the competition (although rake also tends to be lower in high stakes contests). You want make sure you can increase your buy-ins while still maintaining the ROI you expect.

    My advice would be to be safe. Being successful for one season or one year is not the same as sustaining it for a lifetime. and being successful with a bankroll of $10 is not the same as $1,000 which is not the same as $100,000.

  • WidumBoise

    I would need a million dollars in cash with no debt whatsoever to even bother considering going pro.

    Keep your job, the steady flow of cash, and dedicate EVERY WAKING SECOND of your free time to reaching that goal of a million dollars in cold hard cash.

    Then cross that bridge of deciding to go pro.

  • B_Edelman

    The reality is that there aren’t too many people who actually play dfs as their sole source of income. Many of the pros either have full time jobs or get money from providing content here on RG or other sites.

  • BerkeleyBoss

    I’m not a pro, but if by 5 figures you mean close to $10k, then you definitely don’t have enough. I would think you’ll need at least 50k to be comfortable.

    Lets say you risk 5% of your roll every day and you win at a 10% ROI. If you play 300 days a year at these conditions, you can expect to make 150% of your bankroll in a year. To achieve a 100k income, you’d need a bankroll of about 66k. This doesn’t even include living expenses, which you should have put aside so that you can withstand downswings.

  • thedude404

    • 2015 FanDuel NBA Playboy Mansion Finalist

    Impossible to answer this question with information given. How much do you have to make per year just to pay the bills? How much in total do you want to make per year? Are you a planning on playing just cash games, just gpp’s, or a combination of both? If a combination of both, what is that combination? How much are you comfortable losing per day? Per month? Generally speaking, what is your risk tolerance? What is your current ROI?

    I would say in general say a starting point would be $100k + living expenses for 1 year.

  • mwgdfs

    I would think you weed way more than 5 figures. You can probably do it and live ok but you really need some HUGE wins

  • sochoice

    • 2017 DraftKings FBWC Finalist

    • 2017 FanDuel WFFC Champion

    What did you start with? Where exactly are you now? What is your ROI in the various sports you have played? What is your ROI in different types of games and on different sites? If you don’t have the answer to those questions at the tip of your tongue, don’t even think about trying to play full time.

  • killab2482

    • 382

      RG Overall Ranking

    • 2018 DraftKings FBBWC Finalist

    • x2

      2013 FanDuel WFFC Finalist

    Questions need to be answered:
    1) What is your annual expenses
    2) Do you have any financial cushion? 3 months? 6 months? there is variance in dfs
    3) Are you building your BR through tourneys or cash games? those graphs look a lot different. If it’s tourneys you are going to want more of a financial cushion as the variance is pretty high.

    good Luck

    ps. dm for any particulars or just add another post on here.

  • ScoLuns

    • Blogger of the Month

    Keep in mind that your state could look at DFS as “gambling” and shut it down. Then what?

    If it were me, I’d keep my job and still play. I’d view the DFS $$$ as the gravy

  • fenway2015

    keep your job as if you quit and then have to buy insurance it will be very expensive not buying through a company plan. also the DFS industry could go under like online poker as the morons at fan duel and DK cater to the sharks and drive away the casual player where will the growth be ? it would be great if ESPN started daily DFS and buried fan duel and draft kings and the frat boys who mismanage those companies.

  • jimmyrad

    Are you sure you’re a winner going forward? I mean I know that you know you’re a winner, but are you sure? Variance can be an absolute beast and the game conditions are a changing, quickly. In 2014 I played 2 sites, 2 1099’s, 4 sites in 2015, 4 1099’s, Just FD last year, 1 1099. and this current, longgg, down swing has me questioning profitability. I mean I’ve proven beyond any doubt that I can beat this shit, but now? Who knows. I can’t imagine jumping in at this point with low 5 figs.

  • MrFantasy

    When you rely on DFS for a sole income it’s pretty miserable. There is a reason most very well known DFS pros have their own optimizer/websites/articles or whatever. They make money off of those that want their advice/strategy and buy subscriptions or they are employed by RG or many other well known sites. The margins nowadays are very thin and players who once relied on DFS for a living(myself included) are now struggling.

    If you have any type of career you’re crazy to leave it behind for playing DFS full time.

    I think you would need bare minimum $100k as a dedicated bankroll to even think about trying it.

  • Shipmymoney

    • 56

      RG Overall Ranking

    • Ranked #7

      RG Tiered Ranking

    • x3

      2016 DraftKings FBWC Finalist

    • 2016 FanDuel MLB Playboy Mansion Finalist

    So much depends on your living expenses and what you’re giving up. I was comfortable taking the plunge because I was in my first year of law school, not convinced I actually wanted to be a lawyer, not on a full ride, and single without kids. So I didn’t have much to lose. My advice, coming from experience, would be to have a well-thought out plan for bankroll management/game selection/etc. and force yourself to stick to it. Variance is a bitch, especially if you’re a GPP player, and it can get incredibly stressful when it’s your main income. Despite some growing pains, I am still happy with my decision but, again, I wasn’t leaving anything great behind and I can go back to law school if for some reason I want to in the future. I would probably feel much differently if I were leaving a quality job

  • btwice80

    • 457

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    • Ranked #80

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    @Shipmymoney said...

    So much depends on your living expenses and what you’re giving up. I was comfortable taking the plunge because I was in my first year of law school, not convinced I actually wanted to be a lawyer, not on a full ride, and single without kids. So I didn’t have much to lose. My advice, coming from experience, would be to have a well-thought out plan for bankroll management/game selection/etc. and force yourself to stick to it. Variance is a bitch, especially if you’re a GPP player, and it can get incredibly stressful when it’s your main income. Despite some growing pains, I am still happy with my decision but, again, I wasn’t leaving anything great behind and I can go back to law school if for some reason I want to in the future. I would probably feel much differently if I were leaving a quality job

    You didn’t mention that playing DFS is not your only source of income, as MrFantasy pointed out. Kind of an important detail.

  • Shipmymoney

    • 56

      RG Overall Ranking

    • Ranked #7

      RG Tiered Ranking

    • x3

      2016 DraftKings FBWC Finalist

    • 2016 FanDuel MLB Playboy Mansion Finalist

    @btwice80 said...

    You didn’t mention that playing DFS is not your only source of income, as MrFantasy pointed out. Kind of an important detail.

    It was for most of last year. I quit school in January and didn’t start getting paid for content until Septemberish. But yeah, fair point. Having some steady money coming in from content definitely helps with the variance/stress aspect.

  • newynewstrom

    • x3

      2016 DraftKings FGWC Finalist

    Im deff not a pro but imo you would need wayyy more than 5 figures

  • zbark2

    • 265

      RG Overall Ranking

    • Ranked #34

      RG Tiered Ranking

    @killab2482 said...

    Questions need to be answered:
    1) What is your annual expenses
    2) Do you have any financial cushion? 3 months? 6 months? there is variance in dfs
    3) Are you building your BR through tourneys or cash games? those graphs look a lot different. If it’s tourneys you are going to want more of a financial cushion as the variance is pretty high.

    good Luck

    ps. dm for any particulars or just add another post on here.

    Thanks all for the responses. Didn’t think I would see this many, thanks again!

    I was very board in my original post. My overall ROI since starting two years ago is 8.2% in the three main sports using the DFS Analyzer. Take the past 7 months, from Aug. 28th of 2016 and my ROI is up to 13%. I started with $20 bucks on Opening Day in April two years ago and haven’t looked back. Ive slowly worked my way up to over 16k in overall profit.

    I’m mainly a cash game player, grinding those every day but i do my fair share of gpp’s as well and have hit some high finishes in some tournaments over my DFS timeline.

    I see DFS as an enjoyable way to where i can match my current salary at my job which is a middle school teacher. Im young, but getting out for the summer soon, I see this as the perfect opportunity to take a shot and see if i can do DFS full time.

    Seems to me some of the responses are suggesting over 100k to start? That seems a little outlandish. If i can make 40k a year, id be happy with that.

    Any other thoughts/responses? These are very helpful!

    Thanks

  • Roma315

    @zbark2 said...

    Thanks all for the responses. Didn’t think I would see this many, thanks again!

    I was very board in my original post. My overall ROI since starting two years ago is 8.2% in the three main sports using the DFS Analyzer. Take the past 7 months, from Aug. 28th of 2016 and my ROI is up to 13%. I started with $20 bucks on Opening Day in April two years ago and haven’t looked back. Ive slowly worked my way up to over 16k in overall profit.

    I’m mainly a cash game player, grinding those every day but i do my fair share of gpp’s as well and have hit some high finishes in some tournaments over my DFS timeline.

    I see DFS as an enjoyable way to where i can match my current salary at my job which is a middle school teacher. Im young, but getting out for the summer soon, I see this as the perfect opportunity to take a shot and see if i can do DFS full time.

    Seems to me some of the responses are suggesting over 100k to start? That seems a little outlandish. If i can make 40k a year, id be happy with that.

    Any other thoughts/responses? These are very helpful!

    Thanks

    My ROI is over what you just posted. I’ve never thought of going pro even after my big scores. There is so much more to it. You need atleast a year of expenses paid to cover your bad weeks/months.
    Also I’ve made more profit than you posted. In order to me to consider it I would have to constantly make over $75-90k a year. Also it is better to use it as supplemental income.

  • SelfCharmer

    @Roma315 said...

    My ROI is over what you just posted. I’ve never thought of going pro even after my big scores. There is so much more to it. You need atleast a year of expenses paid to cover your bad weeks/months.
    Also I’ve made more profit than you posted. In order to me to consider it I would have to constantly make over $75-90k a year. Also it is better to use it as supplemental income.

    You can start your own thread if you want appraisal on your own results…

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