Private Mortgage - Private Income?

Ferferksake

Thanks Conrad. I have tried googling previously and found a couple of places that would lend small amounts (like Zopa), but couldn't find anywhere that would lend enough for a mortgage. Any chance you can PM me?

xyellowx

"gamble" = to play for money
i play in local comps about twice a year it helps if your skillful i agree but when your pocket kings are on the backs against pocket aces definetly a gamble then. i find patience is the best asset to have

good luck to anybody who can make a living out of playing poker or gambling beats going to work 5 days a week

however my local casino is full of young 20 year old lads who claim to be pro poker players
they dont work in the day and struggle to find the entry money and normally first in queue for free buffet and drinks i guess business is not so good for them.

Bigsmak

I've played a lot of poker. My brother was making about £3000 a month for about 4 months. But it didn't last and now he has a job. I never made any real cash at it, £1000 here and £1870 there (for a £10 stake) .. but I wasn't consistent.

However Whenever I got to the final table it was generally the same 4 or 5 players that where there, day in, day out.

Poker is a game of skill, however.. I WOULD NEVER lend anyone any money on the basis that they will make any money from poker. If they are any good, they will be able to save for a house no problem. If they can't do that, they should get a job and keep it as an extra source of fun on the side. With the possibility of some income.

xyellowx

the same 4 or 5 players who will be making a deal to split the pot if its like my local casino
and the same 4 or 5 players who drop the poker manager a drink not to spoil a good thing

_Andy_

xyellowx wrote: »

the same 4 or 5 players who will be making a deal to split the pot if its like my local casino
and the same 4 or 5 players who drop the poker manager a drink not to spoil a good thing

A solid MTT pro isn't going to be often chopping assuming a good chiplead, due to the heavy emphasis on 1st/2nd prize.
Most pro poker players are online anyway due to being able to get the needed volume in, plus rakeback/FPPs etc

AskMeAnother

couple of interest points throughout the thread.

Firstly agreed that poker is a game of skill. Yes there is luck involved which is why most people say it is gammbling. But poker players don't call it luck, they call it variance. As in time the decsions made by a skilled player will outweight the mistakes made by a poorer player. So the less mistakes made by a player = more profit in the long run.

Secondly with regard to the tax position - I make a little money playing poker, certainly not enough to give up my job, but it's great to get "paid" for my hobby of playing cards. I have at least 2 clients who are now poker pro's and are servicing mortgages they took before they quit their jobs -so it can be done with some regularity. One of my clients is a tax adviser for HMRC and I asked him if a player can declare the income from poker, even though they don't have to pay tax on it. The response was that a player is not to even delcare the income and therefore will never be able to prove it.

Bizarrely a colleague of mine did a mortgage for a pro poker player last year. I'm not sure how he got it through but my guess would be some sort of "fast track" mortgage and a creative choice under the "profession" section.

However, it's my opinon that, unless you're looking for a Buy To Let Mortgage, you will not find a lender who will help if all things are being declared to them accurately!

Just tell him to go for a nice score in the Stars Sunday Million!!

Ferferksake

AskMeAnother wrote: »

.

Bizarrely a colleague of mine did a mortgage for a pro poker player last year. I'm not sure how he got it through but my guess would be some sort of "fast track" mortgage and a creative choice under the "profession" section.

Any chance of coaxing the trick out of him?

I find it funny that the ones who sound quite bitter and angry about pro-poker players are the ones who seem to be very, very well acquainted with the insides of casinos. Sounds like someone had to go home shirtless.

AskMeAnother

I honestly don't know - I think he probably put him down as a "professional investor" or something alike. Pretty sure it was a Halifax Fast Track mortgage with a 50% deposit or something.

Most poker players I know who make their living from it (I know a few ) that have houses either bought them outright or bought them on a Buy To Let basis.

SouthCoast

Just to add to the discussion.

Jonathan Davies, prosecuting, told a jury at Hove Crown Court yesterday (October 31) the motive for her killing was money.
James transferred more than £100,000 from his mother’s bank account and wasted £75,000 on fruit machines all over the south east, he said.

http://www.theargus.co.uk/news/9336930.Son__killed_mother__78__over_debt_/

And

whilst employed as a financial advisor by a Bank, he lost £473,976.15 by gambling

http://www.insolvencydirect.bis.gov.uk/databases/ddirector/viewbrobrudetailsmore.asp?courtnumber=07525462006

xyellowx

ferfer - i go twice a year for a big comp in each casino, the ones who play dont have a pot to p155 in and all claim to be pro poker players they hammer the free buffet like they havent eaten for days and look like they havent had a shave or bath in days wear tatty clothes and trainers, live with the parents and go down the bookies all day hoping to find a fiver on the floor.
if you want to live the dream and go along with this bull5hit carry on mate, the truth is only a few poker players make a living out of it and a very good one at that, i know of 2 so called tv celebrities that use to appear on poker programmes all the time who no longer play, the reason being they cant make it pay
calling yourself a pro poker player = unemployed who likes poker