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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
Spades47
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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 Yesterday, 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 Yesterday, 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 Yesterday, 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 Yesterday, 09:41 PM   #19963
Garick
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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 Yesterday, 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 Yesterday, 10:57 PM   #19965
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Re: *** Official Winrates, bankrolls, and finances ***

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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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