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Live Low-stakes NL Discussion of up to 3/5 live no-limit, pot-limit and spread-limit Texas Hold'em poker games, situations and strategies.

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Old 11-14-2017, 05:48 PM   #19951
bwslim69
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Re: Bankroll Advice

There is a whole separate thread for this that I'm sure this will get moved to.

That said, I'm not sure what your question is. Are you looking to play live or online? Moving or is this just a vacation? Are you in the US or somewhere else? Need a bit more info.
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Old 11-14-2017, 06:13 PM   #19952
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Re: Bankroll Advice

Please send the link.
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Old 11-14-2017, 06:49 PM   #19953
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Re: *** Official Winrates, bankrolls, and finances ***

A professional poker player should be looking for ways to keep expenses down yet you want to increase your expenses right off the bat while playing under-rolled. Sounds extremely foolhardy.
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Old 11-14-2017, 07:10 PM   #19954
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Re: Bankroll Advice

Quote:
Originally Posted by Spades47 View Post
Hey guys hopefully you can give me some advice/thoughts on what you would do in my position.

I am on disability and could save about $650 per month and also will be receiving about $1,500 from my school (online courses)for financial aid in March.

Travel plus a week's stay someplace should cost me tops about $900 dollars. (weekly rental charges $250 deposit)

So anyway I'd Love to get out of my house by March as well and start playing sooner rather than later but I'm unsure if I should stay home and save up more money or not.

I could always come home if I lose and save up another roll. (I get another $1,500 lump sum from my school next fall semester)

I think it makes sense to go but I just wanted some feedback to make sure my thoughts about it makes sense.

I do have some experience playing for a prolonged stretch of time. I went to Vegas and gave playing "professionally" a shot 2 years ago. I played about 40 hours a week for aroubd 6 weeks and did well(around $15/hour) before I had to leave for family reasons. I'm pretty confident... Still would've liked to have around double the time stayed in Vegas but it gave me a nice idea of what I should expect.

Appreciate any of your advice/thoughts.

John
When you say "financial aid" ... do you mean Pell Grants, or *loans*? Either way you're not technically supposed to use either for what you're talking about as they're not qualifying educational expenses. But if you're borrowing money to play poker with ... DONT.

Your 40 hours a week for 6 weeks is only 240 hours. That is a meaningless sample size. It is far too small to draw any meaningful winrate projections from.

Feel free to drive to your local casino and take some shots at building a roll, but don't travel with borrowed money and expect to make a living as a "pro" $1/2 player with a 7BI roll.
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Old 11-14-2017, 08:42 PM   #19955
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Re: *** Official Winrates, bankrolls, and finances ***

Where do you live? Is there poker nearby? Does using that $1500 stop you from going to school?

Risk of going busto is very high with less than 10 buy-ins cushion, even without living expenses.
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Old 11-15-2017, 12:29 AM   #19956
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Re: *** Official Winrates, bankrolls, and finances ***

Ahhh to be young and stupid

You can play poker part time, or you can be an idiot and try to grind 1-2 full time with school money. I honestly wouldnt wish on anyone to play 1-2nl for a living, even if successful your living expenses will eat you up and it will take so long to shot take 2-5 you will blow your head off.
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Old 11-15-2017, 03:55 AM   #19957
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Re: *** Official Winrates, bankrolls, and finances ***

@ Spades47

There are much easier ways to make min-wage/close to it (possibly even less) than grinding 1/2. Work a ****ty part-time job while attaining a 4.0 in your courses so you look good on paper to shmucks deciding your future based solely on that figure. If you took a shot at full-time poker now, your risk of ruin would be near 50%. What are you gonna do when you play robotically well, but still go on a 1000bi downswing and have bills due? What's even scarier is thinking of what you'll do the times you actually do succeed. In order to play well with the experience listed, you wouldn't have time for school or anything else. You'd be studying and playing always. You'd throw away an education & opportunity for greater and more fulfilling income in order to become a poker nerd earning the same as a Starbucks barista since you'll never be able to save for a proper 2/5+ roll while paying living expenses. If you're thinking about playing part time and going to school, stop. The volume you put into poker will be meaningless. Speaking as someone about 600 hrs into doing this for a living, with a college degree & a proper bankroll...& incredibly unbelievable luck... GET YOUR DEGREE FIRST.
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Old 11-15-2017, 06:55 AM   #19958
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Re: *** Official Winrates, bankrolls, and finances ***

Re moving to to London

I was obviously talking about high stakes online players making like 2-500k a year �� not live players or live low limit. Yes most of them are EU nationals (lol as if the best poker players in the world have to be American, I never said they were American, who made this assumption?) and only need to move to UK as a resident to not pay tax. A friend of mine once had to pay 300k Euro in taxes in Netherlands, talk about absurd.

(Actually I’m pro higher taxes, I just mean the number is absurd)

Also I said tax AND social reasons, also there is access to online poker, so there are Americans resident or based in here too and going to various EPT stops or playing online, despite still paying tax.

Last edited by Sol Reader; 11-15-2017 at 07:01 AM.
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Old 11-15-2017, 07:23 AM   #19959
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Re: *** Official Winrates, bankrolls, and finances ***

Nobody said they were American. I was inquiring what you were referring to, as I'm an American and I was looking into moving into London for tax reasons but it didn't seem feasible -- so I was curious what you specifically meant because I was wondering if there was something I was missing. But knowing you meant eu nationals makes a lot more sense.
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Old 11-16-2017, 08:57 AM   #19960
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Underground Games beatable/worth it

Lately I've been playing in 2 underground games in 1/3 games no max buying, with an average stack of like 500. Rake is 10 percent capped at 15 for one and 20 for the other. Wondering if these games are beatable . The action I see at these games are crazy , always straddling, very loose play, 3-4 callers on a 15 dollar utg is normal. My game plan is to just play tag poker and to mainly just get into pots with the aggro fish/fish . Almost every table i've been at I haven't seen one good poker player. My main concern is if I will be able to maybe make atleast 10 dollars per hour if I'm playing correctly making minimal mistakes.

Also what should my bankroll be for these types of games and action
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Old 11-16-2017, 09:39 AM   #19961
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Re: Underground Games beatable/worth it

Nobody can really say. We don't know exactly how good you are or how bad everyone else is. In theory such a game can be beatable. Whether it is for you, I dunno. Without information I'd play the odds and guess no.

With underground games there are also risks you have to account for that usually aren't in casino games. Such as the risk of getting robbed, cheated, raided or stiffed. These all lower your EV. I wouldn't play an underground game unless it was WAY better than a casino game.
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Old 11-16-2017, 09:23 PM   #19962
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Re: *** Official Winrates, bankrolls, and finances ***

Anyone know of a good system for getting a live backer for a 5/10NL game? I am more than well rolled but I am bull on bitcoin and won't withdraw any to play. I assume unless you are close with someone and they can verify results it just doesn't happen?
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Old 11-16-2017, 09:41 PM   #19963
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Re: *** Official Winrates, bankrolls, and finances ***

Well, you can check the staking forum, but AFAIK, unless you're part of a poker-house, not so much.
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Old 11-16-2017, 09:52 PM   #19964
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by Garick View Post
Well, you can check the staking forum, but AFAIK, unless you're part of a poker-house, not so much.
That's what I figured. I think my ROI of sitting in btc is greater than my hourly playing, so it's kind of silly to even attempt to play for now. I'll wait until the market settles down I guess.
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Old 11-16-2017, 10:57 PM   #19965
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by bm303 View Post
That's what I figured. I think my ROI of sitting in btc is greater than my hourly playing, so it's kind of silly to even attempt to play for now. I'll wait until the market settles down I guess.
I've thought about staking before, and I've basically come to the conclusion the benefits just dont outweigh the risks. With online its very easy to verify results and ensure your horse is doing what he says he is. With live, unless you're living in the same area and know dealers there or whatever, there's no possible way to know you're not under-reporting results or taking some off the top etc. It requires a great deal of trust that you can't exactly give a stranger.
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Old 11-18-2017, 04:26 PM   #19966
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Re: *** Official Winrates, bankrolls, and finances ***

I think this is a good time to do some studying or playing lower. Or, if you have a bunch of money in BTC, hey, maybe just relax and live life a little.
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Old 11-18-2017, 08:05 PM   #19967
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by jc315 View Post
I don't really have a stop loss. i've been in games for ~4 buy-ins before. I've been in a $5/10 games for 3-4 buy ins as well.... it typically doesn't affect my game a ton.

i find that i play the worst when i know my session will be short. so like if i go on a saturday afternoon and know i have to leave in like 3 hours for a dinner. ill tend to force stuff and try to make things happen.
Yea I never play if I have to have a time limit for those exact reasons. I wish being down didnt effect my play. Unless your over rolled its tough especially when live players are so bad and you just cant win like I had yesterday dropped 3 1/3 buy ins then I go to 2/5 and lose a max 200bb buy in.
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Old 11-19-2017, 05:12 AM   #19968
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Re: *** Official Winrates, bankrolls, and finances ***

It happens. Poker is hard to consistently win at. Hence why >80% of players are losing players.
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Old 11-20-2017, 06:04 AM   #19969
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Re: *** Official Winrates, bankrolls, and finances ***

PROBLEM SOLVING QUESTION:

two friends are deep in a $750 buyin, they're both ITM and one of them (player 1) asks to buy 5% action of the other (player 2) when there's 9 players remaining...

Chip stacks:
Seat 1: 390k
Seat 2: 336k
Seat 3: 168k
Seat 4: 779k
Seat 5: 757k (player 1)
Seat 6: 648k
Seat 7: 406k (player 2)
Seat 8: 553k
Seat 9: 1006k

Blinds are: 8k/16k/2k

9th - $2470
8th - $3080
7th - $3860
6th - $4730
5th - $6170
4th - $7890
3rd - $10110
2nd - $15055
1st - $22030

Player 1 ends up winning, player 2 ends up coming 3rd for $12500 after a deal was made 4 handed. They then played for $1k.

How much does player 1 need to pay player 3 to buy 5% of his action at that stage in the tournament?

Any help much appreciated.
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Old 11-20-2017, 06:26 AM   #19970
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Re: *** Official Winrates, bankrolls, and finances ***

If you don’t know, you probably shouldn’t make these kinds of deals.
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Old 11-20-2017, 06:27 AM   #19971
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by Malucci View Post
If you don’t know, you probably shouldn’t make these kinds of deals.
I didn't make the deal, it was two friends of mine.
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Old 11-20-2017, 06:32 AM   #19972
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Re: *** Official Winrates, bankrolls, and finances ***

They should have agreed to this ahead of time. I think the fairest way is for player 2 to owe player 1 5% of the difference between his cash and the ICM value of his chipstack at the time the deal was made.

The ICM value was $7358.88

Player 2 owes player 1 .05*(12500-7358.88) = $257.06

http://www.icmpoker.com/icmcalculator/#LJKR

Edit: Double check to make sure I entered the correct information if you decide to use this method.

Last edited by browni3141; 11-20-2017 at 06:39 AM. Reason: Fixed Link
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Old 11-20-2017, 06:36 AM   #19973
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Re: *** Official Winrates, bankrolls, and finances ***

My man's! That's what I thought the answer was also. Cheers.
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Old 11-20-2017, 08:03 AM   #19974
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by meale View Post
PROBLEM SOLVING QUESTION:

two friends are deep in a $750 buyin, they're both ITM and one of them (player 1) asks to buy 5% action of the other (player 2) when there's 9 players remaining...

Chip stacks:
Seat 1: 390k
Seat 2: 336k
Seat 3: 168k
Seat 4: 779k
Seat 5: 757k (player 1)
Seat 6: 648k
Seat 7: 406k (player 2)
Seat 8: 553k
Seat 9: 1006k

Blinds are: 8k/16k/2k

9th - $2470
8th - $3080
7th - $3860
6th - $4730
5th - $6170
4th - $7890
3rd - $10110
2nd - $15055
1st - $22030

Player 1 ends up winning, player 2 ends up coming 3rd for $12500 after a deal was made 4 handed. They then played for $1k.

How much does player 1 need to pay player 3 to buy 5% of his action at that stage in the tournament?

Any help much appreciated.
Go online, find an ICM calculator input stacks and prizes and come up with the ICM value of this stack. Then pay 5% for that.
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Old 11-21-2017, 08:01 PM   #19975
CHICKSDIGLONGBALL
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Re: *** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by bm303 View Post
Anyone know of a good system for getting a live backer for a 5/10NL game? I am more than well rolled but I am bull on bitcoin and won't withdraw any to play. I assume unless you are close with someone and they can verify results it just doesn't happen?
I wish I could, there is just no way to track the results in live poker.
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