So, it really comes down to....should I wait until I can build a roll through my summer job, or should I take out an interest bearing loan under false pretenses with nor current means to pay it back?

Counting on future income to pay off current debts when you haven't shown the discipline to not incur those debts is not a safe bet. I see lots of potential degenning where you burn through the 6K, get your summer job, but then try to grind that income back up to a decent stack so you can pay off the 6K and still have a roll. Which will of course leave you with nothing and 6K of debt.

just my 2 cents

things always tend to happen for a reason, and if life taught me anything, it's that patience is very often a very important key to good things.

If you have a summer job anyway, why take the chance on a fishy loan? just wait it out, play some lower stake games online, try and build a small bank roll until your summer job. Work your summer job, save up and you'll have enough by the end of summer.

The game will still be there, sometimes it's good to take a small step back, work on fundamentals and have fun again, learning the game.

People advising you against the loan here don't do so because they want you to fail or be miserable, you need to understand that there are quite a few red flags in your story, you need to take a step back, reassess the situation, think about what's truly important in your life. Do you really want to commit yourself to a situation where you surrender a good amount of the control you have over your life?

Strong and intelligent people know how to wait and also the difference between what matters and what doesn't. The game isn't going anywhere, and if that loan thing goes south, you'll be out of the game for much longer than a few month, and with bigger and more serious issues in your life.

is the game really worth that much risk? You're at a point in your life when you have plenty of possibilities, just don't make a bad choice and limit your options for later because of it, just think.

Being a good poker player, I gather, means being intelligent, and able to make the best decision possible in a given situation. it's the same in life, make the right choice, live to play another day, please think about it some more.

seriously...how the FACK is this thread so long when PX plainly answered the question posed in the second post of this thread. Question was asked in post #1, PX reply is post #2.

I guess I will add nothing when I say....go ahead OP, apply for a "student loan". You won't get the loan but at least you gain THAT experience.

.

It's 50 posts telling OP why not to do this. If he made a thread called "how to kill myself", should the thread be locked when the second post contains a painless method to do so?

well I guess these are the types of stories one hears when it comes to gambling, every now and again, and more often than not, people manage to screw their lives and the lives of those around them.

I have battled addiction in the past, and I learned to recognize it when I see it. And this is when you go out of your way in order to get to do the thing you're addicted to.

Taking a loan to play poker certainly fits into that category, a "winning player", as I understand, is a player who can sustain his poker habits by playing poker, manage his bankroll and play accordingly.

at least this is what I gather, rules like "don't play games you can't afford"

Banks don't care about variance if you owe them money, they do what it takes to get it back, usually to the full extent of the law. And very few of these people, if any, care if you're a "winning player" who has a downswing.

This is the kind of story that usually ends badly, but this is also the kind of story that will always happen.

Life is full of potential for those who are patient and hard working. But life can be hell for the others.

I went ahead and applied for a line of credit for $5,000 unfortunately it got denied. I took $70 CAD ($50 USD) and put it into stars on the 7th

7th I grinded $50 to $125 playing 5nl zoom just under 5k hands 22bb/100 (cashed out 2k starcoins as well)
8th I moved up to 10nl zoom and grinded $125 to $175 over 1,387 hands
9th I gave back the $50 playing 10nl but binked a $230 tournament win to put me up at $440
10th I place 2nd in the $3.30+r for $340 and head over to 25nlz immediately lose about 2 buy ins before I start adjusting to the vastly increased 3b ranges (I've never played 25nlz before) once I adjust (and run hot) I go from only $25 profit zoom total, all the way to $215 over the course of about 1.5k hands a few downswings and upswings highest point i hit was $234 profit in zoom total, until I hit a huge downswing, as it seems all my opponents have adjusted to my play and I'm getting absolutely crushed, not getting paid out 3 streets with tptk etc. Go from $212 cash game profits to only $45 over the course of 2.5k hands. End the 4th day with $780, and decide to get into the lab Withdraw $100 and I've gotten through 3 modules late last night
10th April (today) I grind the $3.50+rs and take one down near the end of my session for $501. Heading to the gym now, but that's 4 days and $1,170USD profit or $1,497.80 CAD

Thinking of withdrawing 2 buyins for 1/3 and heading back to live poker and leaving enough for 75BIs of $3.50+r
does anyone know if I'd be able to bring my laptop to the casino and grind 3.50+rs and play live poker? lol I've seen people play on their phones just 2 tabling, not sure about 6 or 8

Your online grind is peanuts compared to the live game. Your full attention should be on the live game when you are playing it.

Looks like you are doing work online. Good job.

You Keep Using That Word, I Do Not Think It Means What You Think It Means

Lmao

not sure what was "unfortunate", about getting to work on your game with a set goal. That's what successful people usually do and what many have recommended you to do as well.

and I'm sure most here are glad to read that you finally decided to go about it the right way, even tho it was for the wrong reason.

You took the bad decision, but life gave you the opportunity to get away with it by denying you the ability to go through with it.

I myself am really glad to read that you're working your way there, making progress and adjusting, becoming a better player, all those things will make you that much better whenever you reach your goal and give it your best shot.

You got the opportunity to write a very inspirationnal story; your own story

I'll be cheering for you

OP does not understand the difference between "grinding" and "sunrunning".

Thats what I was thinking, sounds like some adjustments are in order.

What reason did they give for denying you?

I am interested in what form and what entity OP applied.

Was it a "student loan" or a straight up line-of-credit application?

National bank, local bank, credit union, money loaning company like Money Tree or was it some other business where you applied?

Thanks man!

Applied for a line of credit, but since I've been out of the country for a year I have 0 income from my previous tax year and currently a very low paying part time job ($45/week) I got denied because of that.

Taking a loan out to play poker without a winning record just sounds hilariously bad.

$ 45 a week?? Mowing two or three small lawns? Yeah a bank might not consider that a good risk. You are joking around right?

OP I am intrigued by your story and I like your gumption, your grit. As I have recently come into a lot of money, I would be interested in not just offering you a loan, but rather, a grant, so you can improve your craft. In return I merely request your assistance in obtaining my inheritance, which unfortunately i am currently unable to remove from my home country due to reasons of tax and political instability. Please correspond with me personally at PrinceNkembe.Nigeria@aol.com. I look forward to a long and mutually beneficial partnership.

Army reserves, 1 parade/week

Subbed, this is incredible! Cant wait for the next episode!

Subbed... Don't disappoint me 😂

That's OK. I really think you should try this. The fraud conviction will probably teach you more than we can.

Don't you see an internal contradiction here?

A decent roll for 1/3, if you need to live off poker, is at least $15,000 and probably more. (And you'd need a life roll besides your poker roll of at least another $5,000.)

$2k is less than 7 BIs at 1/3, so that's hardly miserable runbad. You should expect that at least one week per month. But I see there's some chance that it was actually ~4BIs at 2/5. 4BIs is nothing.

Find a $0.02/$0.05 game online (that's what you are now rolled for) and grind it up. Shouldn't be too hard for a winning 1/3 player.

Well taking a shot at a level doesn't require as big a bankroll as playing professionally at that level, but $6K is still too low.

The evidence we have seen seems to indicate the opposite. You have less money now than your original buy-in. What else can you tell us to convince us you are a winning player at 1/3?

Do you know what it takes to know you are a winning player? It takes a lot more than having won a couple of times. You need to a have a large enough sample size for statistical significance. Playing live, that usually requires more than a year of steady play. 2,000 hours would be a good start.

You are ultra nitty with your bankroll management. I think that's fine if it makes you feel comfortable but to advise others that they need 50 buyins for a live low stakes game is insane.

If I had nothing to my name and someone gave me $6k and told me to grind 1/3 for a living with it, I can promise you that I would NEVER go broke. So the fact that you are telling him that $6k isn't enough to TAKE A SHOT at 1/3 is crazy. Very few players that play those games have that sort of roll.

Having a life roll is important though. I'll give you that one.

There you go DC fyp. This is BQ, no need for the hyperbole just because someone disagrees with you. Should you read small stakes holdem by Miller et al, you'll find he recommends 100 buyins for a live pro, so I guess you would say Matt Flynn, Sunny Mehta & Ed Miller are all "insane" X2??

People can quibble about bankroll and liferoll requirements all the live long day, but anyone who has played a few million hands of nhle, knows the insane variation it brings (there's a better use of the word) and if poker, and only poker, is what you use to pay your mortgage, I'd want an insanely (banter now) big bankroll to keep me on my A game when I'm in the middle of a six month downswing.

Only putting this out there for other readers...op seems past redemption....

...and just for the record "taking a shot" and "being a 1/3 live pro".....apples and oranges. Sure take a shot at 1/3 with 6K...that aint no roll. That's a training budget for an apprentice and he should expect to lose it.

BBV >>>>>>>>>>>> that way

Yeah, 100 buyins is completely ridiculous for this level. I have had this conversation multiple times with LLSNL pros and the majority of 2/5 pros I've talked with have never lost $10k (aka 20 buyins, although a few of these pros regularly buyin for $1k). I do think it's nice to be a bit overrolled, but it's certainly not a requirement when you start out (ie if you are a winning player and good with your money then your roll will grow).

Fact is, if you have a $30k poker bankroll and think you have an edge then you should be taking shots at 5/T not playing 1/3.

Good players don't go on 6 month downswings in live low stakes. Nowhere close really. One should expect to have 1 or 2 losing months a year at most and that is normally a combination of run bad and play bad (which will happen from time to time). This is not online poker. Attainable winrates are so much higher in live poker that it is seriously not even comparable.