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Old 07-01-2014, 11:06 PM   #7526
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Turning $1k into a bankroll live

Lets say you were given $1,000 to play live poker with for one year. You can't spend a penny more than that. What would you do to prevent busting while still making a profit? Short stack 1/2 with 20 buyins? Play full stacked with 5 buyins and hope you don't get coolered? Play super nitty?

Just curious to see some of your responses and how you would manage this. I've seen people try and turn X amount of $$ into X amount of money before online but not live.
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Old 07-01-2014, 11:10 PM   #7527
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Re: Turning $1k into a bankroll live

You cannot do nothing to make it happen. If you don't get card dead or unlucky early on, you may survive after improving your bankroll to about 50 buy-ins. Else you will bust.
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Old 07-01-2014, 11:19 PM   #7528
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Re: Turning $1k into a bankroll live

With $1/2 as your only option, you have a high chance, like 90+%, of going broke no matter how good you are. Play online and build a roll or save up money through your job
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Old 07-01-2014, 11:24 PM   #7529
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Re: Turning $1k into a bankroll live

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You cannot do nothing to make it happen. If you don't get card dead or unlucky early on, you may survive after improving your bankroll to about 50 buy-ins. Else you will bust.
This, except that 20 BIs is plenty to move up in live, imo.

I'd play full-stacked, but avoid mildly +EV spots that are high variance, and hope for the best.
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Old 07-01-2014, 11:52 PM   #7530
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Re: Turning $1k into a bankroll live

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Originally Posted by slimshady1999 View Post
With $1/2 as your only option, you have a high chance, like 90+%, of going broke no matter how good you are. Play online and build a roll or save up money through your job
I agree that there is a significant risk of ruin, but I seriously doubt it's anywhere near 90% for a good player. Quite possibly your number is correct for someone who has never played 1/2 in a casino, but if he actually is good I think he has a very good chance (>50%) to win enough for a decent bankroll before he busts.

I'm actually sort of in the situation he described. I went to play some 1/2 with a friend a couple of months ago. I took $400 out of my checking account and was okay with losing it. At the time I did not consider it a bankroll, just entertainment money. I won $800! Spent most of it on life stuff but went back a couple days later with $400 again with no intentions of continuing if I lost. I won $900!

At that point, I put $1,000 aside as a real bankroll and said I'm going to take a shot fully knowing if I ran bad I was out of action. 135 hrs later I'm still going and my bankroll is a little more than halfway to fully healthy.
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Old 07-02-2014, 12:06 AM   #7531
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Re: Turning $1k into a bankroll live

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Originally Posted by bm303 View Post
Lets say you were given $1,000 to play live poker with for one year. You can't spend a penny more than that. What would you do to prevent busting while still making a profit? Short stack 1/2 with 20 buyins? Play full stacked with 5 buyins and hope you don't get coolered? Play super nitty?

Just curious to see some of your responses and how you would manage this. I've seen people try and turn X amount of $$ into X amount of money before online but not live.
If you can absolutely not replenish in any way I think you should buy in full, but only play at the softest times and look for weak passive tables which should reduce variance and tough spots. Play a conservative and cautious style until you get off your feet.

Note even with the best of strategies you could very well just run bad out of the gate and go busto. Good luck.
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Old 07-02-2014, 01:19 AM   #7532
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Re: Turning $1k into a bankroll live

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Originally Posted by bm303 View Post
Lets say you were given $1,000 to play live poker with for one year. You can't spend a penny more than that. What would you do to prevent busting while still making a profit? Short stack 1/2 with 20 buyins? Play full stacked with 5 buyins and hope you don't get coolered? Play super nitty?

Just curious to see some of your responses and how you would manage this. I've seen people try and turn X amount of $$ into X amount of money before online but not live.
Google poker RoR (risk of ruin).

In a simple sentence: no, it is not possible.
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Old 07-02-2014, 01:29 AM   #7533
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re: Winrates, bankrolls, and finances

Winning players call it a "bankroll" and they don't spend money from the roll in other things.

Losing players call it a "budget" and they do whatever they want with it.
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Old 07-02-2014, 02:04 AM   #7534
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Re: Turning $1k into a bankroll live

Quote:
Originally Posted by bm303 View Post
Lets say you were given $1,000 to play live poker with for one year. You can't spend a penny more than that. What would you do to prevent busting while still making a profit? Short stack 1/2 with 20 buyins? Play full stacked with 5 buyins and hope you don't get coolered? Play super nitty?

Just curious to see some of your responses and how you would manage this. I've seen people try and turn X amount of $$ into X amount of money before online but not live.
Playing a short stack game is exactly what you don't want to do because of the variance inherit in it. Think about it...you will be getting it all in pre often with hands like AK and TT. If I only have 5 100bb buyins that is not the style I want to play.

Anyways, I would buy in for 60bbs ($120 a pop) but not play shortstack style poker i would play a lot of pots in position (mainly in limp pots) but would only put a lot of money in the pot with a nutty type hand. I would purposefully lose value in certain spots in order to avoid variance, ie throwing away AQ and even AK to preflop raises without putting a $ in the pot when ahead of villain's range.

Essentially, I'm going to steal pots when I know I can steal and I'm only going to be putting a lot of money in the middle when my opponent at best only has a handful of outs. Can't afford to get it in in marginal spots.

When I make a profit I would hit and run, change tables, take a break or whatever I need to take money off the table. The chances that I would lose my roll playing like this vs a bunch of 1/2 mouth breathers is very very low.
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Old 07-08-2014, 09:15 PM   #7535
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re: Winrates, bankrolls, and finances

Hey all,

A few days ago my bankroll finally reached $6,000, which is a nice 20 bullets for my 1/3 game. I've had this goal for a while and it feels really good to reach it even though I took 290 hours to make $5,000 (lol).

At this point I want to take out half of my winnings but I'm not sure how to do it. Obviously I can't just take half from every winning session because I might win $800 and then lose $600 which would take $200 from my roll. Right now I'm considering taking half of my profits out only when I have a winning session that puts my bankroll in virgin territory. That seems obnoxious to track but it would be doable.

So yeah, I'm going for some system that 1) keeps my bankroll growing, if slower, and 2) gives me money for paying off loans and ish. How do the rest of yall "serious rec" players do this?
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Old 07-08-2014, 09:18 PM   #7536
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Why are you loling at 6bb/hr?
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Old 07-08-2014, 09:31 PM   #7537
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re: Winrates, bankrolls, and finances

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Originally Posted by dunderstron! View Post
Hey all,

A few days ago my bankroll finally reached $6,000, which is a nice 20 bullets for my 1/3 game. I've had this goal for a while and it feels really good to reach it even though I took 290 hours to make $5,000 (lol).

At this point I want to take out half of my winnings but I'm not sure how to do it. Obviously I can't just take half from every winning session because I might win $800 and then lose $600 which would take $200 from my roll. Right now I'm considering taking half of my profits out only when I have a winning session that puts my bankroll in virgin territory. That seems obnoxious to track but it would be doable.

So yeah, I'm going for some system that 1) keeps my bankroll growing, if slower, and 2) gives me money for paying off loans and ish. How do the rest of yall "serious rec" players do this?

Wait until you get to $7,000+, cash out to $6500. Next time, you can't cash out to $7,000 once you surpass $7,500, continue this way as long as you'd like. Just a thought.
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Old 07-08-2014, 11:42 PM   #7538
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Quote:
Originally Posted by zoltan View Post
Why are you loling at 6bb/hr?
Because I know a lot of people here have much higher winrates, and the best player in the casino makes $60/hr.

The good thing is that I have a meager winrate BUT I've also identified a lot of spew and tilt and I'm improving fundamentals, so it can definitely go up. I've made ~2 grand of terrible calls which would've been 2k in my pocket if I hadn't made em.

Quote:
Originally Posted by squeek12 View Post
Wait until you get to $7,000+, cash out to $6500. Next time, you can't cash out to $7,000 once you surpass $7,500, continue this way as long as you'd like. Just a thought.
I like this. But damn $1000 seems so far away! I'll at the very least change to this after I get to $7000.
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Old 07-09-2014, 01:04 AM   #7539
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Who cares if some people on this site have higher win rates?

You are doing really well.
Congratulations.

The vast majority of players can't even beat the rake.


Beyond that, to be honest any system that you use will have potential down falls.

What are you taking the money out for?
What are you keeping a poker roll for?
Once you know these things, it should be easier to determine what your best strategy is.
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Old 07-09-2014, 01:47 AM   #7540
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re: Winrates, bankrolls, and finances

Actually I think maybe the best strategy is just take it month by month. The little benchmark strategy I proposed could cause you to play suboptimally when you get close to the benchmark for cashing out or also if you start drifting away.

When I played LHE online some people actually used a program that would not allow them to see their cashier balance or their stack at a table (which is okay for LHE if you buy in to each table with way more than necessary BBs). The idea was that you should be making every decision based on good poker and not worrying about if you're up/down whatever.

So if you don't "need" the money more often than once a month, I'd just play poker, not worry about a system, and withdraw whatever you feel good about at the end of the month.
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Old 07-09-2014, 09:29 AM   #7541
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I play live poker for a living, and have about $22k in my roll with 4 months of life expenses already put away outside of my bankroll. Would you guys say I'm rolled enough to start taking a few 100bb 5/10 shots when the lineup looks soft? I obviously would have 2/5 100bb max as my usual game
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Old 07-09-2014, 09:39 AM   #7542
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I'd look to move to a 200xbb 2/5 game
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Old 07-09-2014, 09:42 AM   #7543
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I'd look to move to a 200xbb 2/5 game
I'm moving to Cali in the fall where this type of game is attainable but in michigan we are capped.
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Old 07-09-2014, 09:42 AM   #7544
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re: Winrates, bankrolls, and finances

P4MS,

I would mix in some 5/10 NL hours. 50% 5/10 NL and 50% 2/5 NL sounds good.
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Old 07-09-2014, 09:50 AM   #7545
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by dunderstron! View Post
Hey all,

A few days ago my bankroll finally reached $6,000, which is a nice 20 bullets for my 1/3 game. I've had this goal for a while and it feels really good to reach it even though I took 290 hours to make $5,000 (lol).

At this point I want to take out half of my winnings but I'm not sure how to do it. Obviously I can't just take half from every winning session because I might win $800 and then lose $600 which would take $200 from my roll. Right now I'm considering taking half of my profits out only when I have a winning session that puts my bankroll in virgin territory. That seems obnoxious to track but it would be doable.

So yeah, I'm going for some system that 1) keeps my bankroll growing, if slower, and 2) gives me money for paying off loans and ish. How do the rest of yall "serious rec" players do this?
What you're talking about is separation of cash into bins; which is imaginary. So it dosen't matter what you do. Unless you have CC debt or something with high interest, in which case figure out if your ev from playing higher stakes with a larger roll <>= the EV of paying of your debt.

Quote:
Originally Posted by Pay4Myschool View Post
I play live poker for a living, and have about $22k in my roll with 4 months of life expenses already put away outside of my bankroll. Would you guys say I'm rolled enough to start taking a few 100bb 5/10 shots when the lineup looks soft? I obviously would have 2/5 100bb max as my usual game
If it is available to you, I would start with playing 200bb 2/5 and encouraging rounds of straddles every time stacks are reasonably deep. Otherwise yes take the 5/T shots, you aren't ever going broke in 100bb 2/5nl with >=$15k so you can blow 7 $1k buyins no problem. Pick good spots!
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Old 07-09-2014, 02:20 PM   #7546
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by dunderstron! View Post
Hey all,

A few days ago my bankroll finally reached $6,000, which is a nice 20 bullets for my 1/3 game. I've had this goal for a while and it feels really good to reach it even though I took 290 hours to make $5,000 (lol).

At this point I want to take out half of my winnings but I'm not sure how to do it. Obviously I can't just take half from every winning session because I might win $800 and then lose $600 which would take $200 from my roll. Right now I'm considering taking half of my profits out only when I have a winning session that puts my bankroll in virgin territory. That seems obnoxious to track but it would be doable.

So yeah, I'm going for some system that 1) keeps my bankroll growing, if slower, and 2) gives me money for paying off loans and ish. How do the rest of yall "serious rec" players do this?
I like the others suggestions about cashing out $500 at even thousand increments.

But one of the things that I do as a serious rec player is cash out small bills.

When I first started playing I'd stick around paying blinds or playing bull**** hands and leave when I had a stack evenly divisible by either $50 or $100. Bad idea. Now I just cash out whenever it's time to leave. I take the small bills ($20's and below) and stick them in my other pocket for my life roll. Win or lose, a couple of bucks are getting transferred out. Keeps me from going to the ATM for lunch money. It's worked pretty well for 3-4 years now.
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Old 07-09-2014, 02:23 PM   #7547
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re: Winrates, bankrolls, and finances

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Originally Posted by ECGrinder View Post
Unless you have CC debt or something with high interest, in which case figure out if your ev from playing higher stakes with a larger roll <>= the EV of paying of your debt.
Paying debt also has zero variance, which can be worth some difference in EV.
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Old 07-09-2014, 03:05 PM   #7548
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Hi guys. Related question as above. Any tips/advice or links to previous posts re: withdrawing from poker roll for life expenses when you have another job?
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Old 07-09-2014, 03:18 PM   #7549
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Done similar for work. Stayed at the office working all night, grabbed some deodorant from the car, took a 30 min cat-nap at my desk, and stuck around for most of the rest day. Sucked donkey balls. It really screwed you up.



I'd actually be tempted to sleep in the afternoon after work for 6 hours, get up at 9pm or whatever, and head to the poker room for an overnight session. Basically just rotate my whole schedule.
I did a variation of this last night. I played till 4am, went home, slept for a couple hours, and went to work. I am at work ATM and I am completely fine.

Snowball: Depends how rolled you are for the game you are playing and if you want to move up. I am way overrolled for the games I play and they aren't bigger games available in my local area so I just withdraw whenever I want to. Be sure to keep good records of your withdrawals though.
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Old 07-09-2014, 03:24 PM   #7550
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Hi guys. Related question as above. Any tips/advice or links to previous posts re: withdrawing from poker roll for life expenses when you have another job?
Are you planning to move up?
Are you well rolled now?
Do you actually need the money or is it just for fun?

All things to consider before making withdrawal decision.
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