(Click Here for the Latest Online Poker News Stories)
Copyright 2004 Minnesota Daily via U-Wire
University Wire
December 15, 2004 Wednesday
HEADLINE: U. Minnesota student wins big
playing online poker
BYLINE: By James Hammerand, Minnesota Daily;
SOURCE: U. Minnesota
BODY:
Some call it a sport; others call it
a hobby or an addiction. University of Minnesota finance sophomore
Brandon Ressler calls it his job.
The North Dakota native said he spends 20 hours
a week playing online poker.
He said that he started in February after figuring he could beat
the majority of online players
he observed.
Since Ressler started playing, the 19-year-old
said, he has made approximately $10,000 before taxes, money he
diverts to his Roth IRA retirement account and uses for day-to-day
expenses.
But Ressler said his sizeable winnings are
no big deal.
"There aren't any long-term benefits to
having this sort of job," he said.
After saving $100 he won in poker
games on campus and around the Twin Cities, Ressler
said, he opened a cash account with an online poker site, despite
his friends' efforts to discourage him.
"They all tried to talk me out of it ...
they thought I was going to lose everything," Ressler said.
He said he doubled his buy-in, or the amount of money a player
starts a game with, on the first day.
Twelve days later, Ressler said, he had $1,000
in his account.
POKER AS A PART-TIME JOB
Ressler said he puts approximately 20 hours
per week into gaming, earning approximately $300 per week. He
said that figure is approximately double the hourly rate of what
he made working at a grocery store, McDonald's or the Bismarck,
N.D., Parks and Recreation District.
Ressler said his success encouraged two of
his friends to join within a month, but a third friend was skeptical.
"I figured that after a couple of big
wins, the site would take all of your money, like the slots do,"
said Casey Litchke, a university student and Ressler 's friend.
In response, Ressler offered to bankroll Litchke
for $50. Litchke has won $2,300 since.
Ressler said he had to convince himself to
play online.
While he usually comes out ahead, there are times when he questions
whether he should play at all.
"All the times I had bad beats, I would
have quit. It's so depressing, and you can't shake off a $200
pot very quickly," he said.
Ressler now charts his performance so he can
see patterns and trends in his play, he said. It also helps take
the sting out of bad luck because he can see how much he has won
in the past week at any time, which often dwarfs the pot he could
have lost, he said.
By doing this, Ressler has been able to distinguish
between luck and skill.
"Short term it's gambling because the
outcome is uncertain. But over time, everybody gets the same hands
and the player that makes the least mistakes gets the money,"
he said.
ILLEGAL WINNINGS
Online
gambling is a criminal activity, said Jim Arlt, of
the state Department of Public Safety's Alcohol and Gambling Enforcement
division.
Arlt said that because of the Federal Wire
Act, anyone who gambles online is committing a state and federal
crime, and any credit card company used to pay online gambling
Web sites or Internet service providers used to access them might
be guilty as accomplices to the crime.
Steve Johnson, deputy police chief for the
University Police Department, said that because there aren't many
complaints filed, there is no reason to investigate gambling on
campus.
However, he said he is concerned for students
who gamble online.
"That person was gambling with more than
his money," Johnson said.
He said giving personal information to any
Web site, including online casinos, could easily lead to a person
being scammed or having his or her identity stolen.
Ressler said he is concerned about the legality
of his winnings, but does not plan on quitting.
"I know it's illegal, but I pay taxes
on what I win, and it's a victimless crime," he said. "Some
people pay to be entertained, and some people do the entertaining."
Ressler's passion for poker goes beyond cards,
and he said he is "very lucky"
to get paid for doing what he loves.
His room is full of crates containing poker
books, statistic sheets on the wall near his computer and a painting
of two aces, the best starting hand.
Ressler said he rarely watches television unless poker is on,
and his favorite movies are about poker.
But he said playing cards isn't always fun.
Ressler remembers a two-month dry spell in
which he went without any significant earnings. He said even the
best players go through rough times, such as Phil Hellmuth, 1989
World Series of Poker No
Limit Hold'em champion, who dropped out of the University
of Wisconsin to play poker professionally, saved $100,000 and
went to Las Vegas, where he lost it all -- twice.
Ressler said he does not respect professional
poker players.
"What do you talk about with someone that
plays poker for a living? I don't know what service they provide
for society," he said.
"I'll work a 9-to-5 job, even if it means
having to put up with the boss every day. At least I'll be doing
something."
(Click Here for the Latest Online Poker News Stories)
|