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Old 04-10-2014, 02:00 PM   #6926
bip!
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So in a "sounds impossible" way of phrasing it...

GG and I end up going to poker heaven for eternity.. (Florida?)

Infinity hands later, we both have exactly a $31/hr WR... yet GG is up trillions of dollars more than me

Infinity can hide very well inside infinity.

Spoiler:
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Old 04-10-2014, 02:04 PM   #6927
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re: Winrates, bankrolls, and finances

Live or online, if you play enough hands, we will all have the virtually same amount of (% wise):

- bad beats
- coolers
- tough villains
- go up against top of villains range
- missed draws
- card dead

... and anything else you can think of where luck or variance plays a role.

Again, the trick is to play long enough.
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Old 04-10-2014, 02:15 PM   #6928
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* my example works better with two break even players going to poker heaven (otherwise they are both up infinity..)

So substitute in APD and F40
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Old 04-10-2014, 02:23 PM   #6929
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by bip! View Post
So in a "sounds impossible" way of phrasing it...

GG and I end up going to poker heaven for eternity.. (Florida?)

Infinity hands later, we both have exactly a $31/hr WR... yet GG is up trillions of dollars more than me
Well, ldo, cuz I'm sitting on your left and you are consistently bluffing off your air into my nuts.

Gbumhuntingbip!G
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Old 04-10-2014, 02:42 PM   #6930
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re: Winrates, bankrolls, and finances

How big of a whale am I for playing in a 300 max, 2/2/3 autodrop of 4$ game? Anybody want to weigh in and tell me how much of a moron I am? Thanks.
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Old 04-10-2014, 03:27 PM   #6931
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re: Winrates, bankrolls, and finances

@ UCDLaCrosse: To be fair, it kind of depends on how bad every one is. Could be beatable if you play tightish and don't tilt much and players are bad. But autodrop kinda seems like it would suck.
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Old 04-10-2014, 03:31 PM   #6932
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re: Winrates, bankrolls, and finances

What does autodrop mean? If 2 limp and you raise pre do they take the $4 if there's no flop? Is $4 the max rake?
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Old 04-10-2014, 04:06 PM   #6933
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re: Winrates, bankrolls, and finances

It's California. 4$ drop regardless of pot size.
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Old 04-10-2014, 04:25 PM   #6934
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re: Winrates, bankrolls, and finances

Thoughts on structuring and allocating profits?

I will have a 30 buyin bankroll with 6 months living expenses set aside. In three months, I will - hopefully - be collecting unemployment.

What percentage of winnings should go into the roll and what percentage should go into expenses? I'm thinking of just keeping the roll at 30 buyins until UE kicks in. If I dip below 30, I add on from winnings.

Thoughts?
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Old 04-10-2014, 04:35 PM   #6935
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re: Winrates, bankrolls, and finances

Chip does it really matter honestly?
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Old 04-10-2014, 04:39 PM   #6936
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Chip does it really matter honestly?
I guess not, but I think it would help me to be as organized as possible.
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Old 04-10-2014, 09:41 PM   #6937
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re: Winrates, bankrolls, and finances

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Originally Posted by IbelieveinChipKelly View Post
Thoughts on structuring and allocating profits?

I will have a 30 buyin bankroll with 6 months living expenses set aside. In three months, I will - hopefully - be collecting unemployment.

What percentage of winnings should go into the roll and what percentage should go into expenses? I'm thinking of just keeping the roll at 30 buyins until UE kicks in. If I dip below 30, I add on from winnings.

Thoughts?
lol. and why do you need this?...
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Old 04-11-2014, 07:08 AM   #6938
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re: Winrates, bankrolls, and finances

50 buyin roll + living expenses set aside is what i use. But alot of my friends tell me that is overkill

When i need to spend $$ i spend it, i dont withdraw a set % for personal use regularly.
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Old 04-11-2014, 08:38 AM   #6939
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by IbelieveinChipKelly View Post
Thoughts on structuring and allocating profits?

I will have a 30 buyin bankroll with 6 months living expenses set aside. In three months, I will - hopefully - be collecting unemployment.

What percentage of winnings should go into the roll and what percentage should go into expenses? I'm thinking of just keeping the roll at 30 buyins until UE kicks in. If I dip below 30, I add on from winnings.

Thoughts?
In the end it doesn't matter at all. Money is money, and you can spend the money on whatever you want. It will all sit in your bank account and collect interest until it's gone.

If you're trying to do some mental masturbation as really that's a lot of what accounting is* then a good idea is likely to pay for your living expenses first from your poker winnings that month, then add 40% to it and then keep they rest in your poker bank roll. This will keep your life roll always at minimum of 6 months of expenses, but it will help you to push that number even higher.

After 3 months** you will have 7.2 months of living expenses and your bank roll will be whatever it was + a bunch of extra money. Also, if you don't plan to move up in stakes you can put a higher % of your winnings into your life roll as you don't need to grow your poker roll as fast.

But really in the end, it's just about knowing your limits, and understanding how much money you need. If you know that you need $1,500 a month to live, and you need 30 * 500 buy ins for 1/3 then you should have $24,000 to your name at all times. Any time you are less than that, it's a problem, and if it's more than that it's a good thing. And as you win, that $24,000 goes up. The way that you split it up doesn't really matter.

*In before I get railed by accountants. I am studying too be one too, don't hate! Depreciation expense isn't a real thing.

**Just don't run bad bro!
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Old 04-11-2014, 08:40 AM   #6940
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re: Winrates, bankrolls, and finances

"There's your net worth, and after that it's all just accounting. You can say you have a poker bankroll, but really what you have is an imaginary wall between some of your money and the rest of it."

-Tommy Angelo
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Old 04-11-2014, 11:18 AM   #6941
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I'm not sure where to post this so I'll just ask here and see what happens. Thank you guys in advance for the help.

How would I calculate expected return if I were to buy tourney pieces at markup if I knew their estimated roi in the event?

Say I bought 10% of a guy in a 1k event at 1.2 markup and he has an estimated 50% roi?

So I pay $120 for 10% of them. So he makes $1500 on average and I get $150. I know I just answered my own question but is there a way I can write an excel program to graph out my return vs. Markup? I would like to create something where I can enter all of the variables.

Thanks a ton!
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Old 04-11-2014, 11:25 AM   #6942
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re: Winrates, bankrolls, and finances

Sure so:

A2: Buy In ($XXX)
B2: Mark Up% (XX%)
C2: % Bought (XX%)
D2: Price You Pay (=A2*B2*C2)
E2: Expected ROI: (XX%)
F2: Expected Cash (=A2*(1+E2))
G2: Profit (=F2*C2-D2)
H2: % Profit (=G2/D2)

Last edited by iraisetoomuch; 04-11-2014 at 11:34 AM.
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Old 04-11-2014, 11:33 AM   #6943
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re: Winrates, bankrolls, and finances

Actually, there's a few small typos in there.

But the idea is still right.

Here's a quick example:
https://docs.google.com/spreadsheet/...UE&usp=sharing
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Old 04-11-2014, 11:36 AM   #6944
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by corlath View Post
"There's your net worth, and after that it's all just accounting. You can say you have a poker bankroll, but really what you have is an imaginary wall between some of your money and the rest of it."

-Tommy Angelo
x2, it all goes to the same place in the end
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Old 04-11-2014, 11:45 AM   #6945
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Quote:
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Actually, there's a few small typos in there.

But the idea is still right.

Here's a quick example:
https://docs.google.com/spreadsheet/...UE&usp=sharing
Wow man. Thank you! Next time I'm at MDL I'll be sure to buy you a beer.
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Old 04-11-2014, 11:51 AM   #6946
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re: Winrates, bankrolls, and finances

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Wow man. Thank you! Next time I'm at MDL I'll be sure to buy you a beer.
Hah. I don't turn down beer, but you don't have to

Just here to help.

Also, in general, even if he's someone is returning 50% profit margin, any one event is going to have a LOT of variability. So, you should take that into consideration. Esp if the field size is big.
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Old 04-11-2014, 11:54 AM   #6947
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re: Winrates, bankrolls, and finances

But don't go too far the other direction and treating every $ as potential poker chips to gamble. Bankroll management is a real and necessary thing. Whether the line is imaginary or not, you should have a REAL life monthly budget where INCOME > OUTGO (bills, debts, spending). You should have a SEPARATE account for poker funds: IMO 30 buy-ins MINIMUM for all NLHE cash games UNLESS you have a day job or other source of income to easily replenish losses. The fact is that buy-ins can and will be lost. If you can replace them easily, great. If not, have the right number built up before you start playing in games where they could disappear.
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Old 04-11-2014, 12:14 PM   #6948
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Hah. I don't turn down beer, but you don't have to

Just here to help.

Also, in general, even if he's someone is returning 50% profit margin, any one event is going to have a LOT of variability. So, you should take that into consideration. Esp if the field size is big.
Thanks. I understand all of that I just needed a rough excel doc so I could quickly look over it all.
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Old 04-11-2014, 04:07 PM   #6949
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by IbelieveinChipKelly View Post
Thoughts on structuring and allocating profits?

I will have a 30 buyin bankroll with 6 months living expenses set aside. In three months, I will - hopefully - be collecting unemployment.

What percentage of winnings should go into the roll and what percentage should go into expenses? I'm thinking of just keeping the roll at 30 buyins until UE kicks in. If I dip below 30, I add on from winnings.

Thoughts?
I like your thinking chip. I keep my roll in a box and to me it is not $ but my tools. Swings while they annoy me do not hurt. (currently in a nice downer right now). This is due to the fact that I have essentially zero element of ruin. I personally would do a mini bank break at the end of every 200 hours or so and pay yourself a modest wage and put the rest away until you get to the place where swong has zero impact. When you hit that place where swing doesn't get you in the slightest you can apply some serious heat and make life very tough for your opponents.
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Old 04-11-2014, 05:32 PM   #6950
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re: Winrates, bankrolls, and finances

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lol. and why do you need this?...
why wouldn't i collect?
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