I dont think thats true, the very top players earn definitely enough for comfortable living, just ask SVB about his financial management.
It is the lavish spending that kills the purse for such guys. And we dont have to talk about pool players, according to a 2009 Sports Illustrated article, 78% of NFL players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of NBA players go bankrupt within five years after leaving their sport...its basically about financial literacy
I vehemently disagree.
Just because Shane makes a decent living, he is in the minority, extreme minority.
It is not possible to earn a living in American pool. Pro players are banned or must provide a ridiculous handicap in American regional events.
You must either win, place, or show to break even due to the expenses of travel, hotels, food, et cetera. The payouts of most pool events are the same in USA as they were in the 1960s, yet the cost of living has gone up at least five or six times more. In the '60s, a gallon of gas cost 30 cents, as an example.
It has nothing to do with players wasting their earnings. Pool players are always stuck in their income because you cannot come in first, second, and third place in every single event you go to. Even when you win, you're still stuck big time.