I do this full time, along with running a live poker league at local sports bars and restaurants. I have employees who handle most of that, and my business partner and I focus most of our time on our
network of websites. As far as work, I normally get into our office around 9am-10am and work until around 6pm.
The freedom is great, I've got a wife and two kids and my wife works part time as an elementary school counselor... pretty much strictly for the insurance benefits and to get her out of the house so she doesn't go insane dealing with our two kids all day, haha.
As far as how many hours I work... this is for sure a full time job and I probably spend 50-60 hours a week actually working on something, although everyone who has a good site is really at work 24/7 if you ask me. The site works even when you're asleep.
It has taken 2 years or hard work, and self taught knowledge, much of it gleaned from these very forums, to start making real money online, but it is paying off. Plus, if the poker boom goes away, or the laws change at the very least I've learned skills that can translate in to virtually any business that want's to do business via the web.
One thing we've learned is that you constantly need to be working on new projects and having goals set and timelines laid out with plans of attack.
We started with the poker website idea, but it got virtually no traffic, then we decided to incorporate a live poker league at local sports bars and restaurants to kick start our website, and to get some revenue coming in... once we got that going, we realized that we sure could use a way to train our poker dealers, so we hired a pro poker dealer and created a poker dealing training course. Now we sell it for just under $200 per copy and believe it or not, we do sell a few thousand dollars worth per month of this ebook. To go along with our dealer training book, we realized that we need a training course for people who want to run and direct poker tournaments... this ebook course is nearly done. In conjunction with that, we have another product about to be ready to go that will make others who are running live poker leagues have the ability to dynamically create their own leaderboards and manage their poker league...
i guess the long story short is that you always have to stay busy and have a set goal or project that you are working on... do not rest on your laurels and think that the MGR you've built up will maintain itself... you always need to add new players and new revenue streams.