That's my fault, it's hard out here for Nokia grinders.

You have to feel "better" or "superior" to OP? That's why you make these silly comments?

Very nice bluff with the boat blockers. Just unlucky to run into it. Oh well. Better luck next time.

Maybe if villain’s range had boats in it. Doubt he ever does with this line and sizing.

Good river sizing. Horrible hand selection. Use Ax as bluffs which are freerolling.

Not at all, I've always wanted him to make a success out of poker. But he has so many leaks and poor habits at the moment which he is too stubborn to fix.

How is wifey getting to/from work? As I recall, you were driving her in the rented uber and then before that you were driving her in the family car. But that was before the come up/grindathon/Poker Pro Status Reinstated, so there's no way you're wasting your time on normie stuff like that when there's donks to stack.

Please tell me you guys bought a new car.

Played several hours today and also went to the gym. Ran super bad initially and the bankroll fell down to $850, but then got some run good towards the end. So the roll is sitting at $1000 now.

It's been a bit of a breakeven stretch since I started on this app, but hopefully things begin to change soon.

I drove her just now to the train station in my mum's car.

Ran bad, or spewed off money on suicide bluffs?

Sent fra min SM-G975F via Tapatalk

The bluff actually doesn't look too bad to me given that it is well balanced with full houses. Bluffing with the ace is terrible imo, you only fold out the same hand which you block and get called by better. The problem may be with showing all your bluffs every time you are successful. Your opponents have a clearer understanding of how you play than you do of how they play.

Back to $1000, at least it is better than $0 I suppose.

Seems like a waste of your precious time. You have to wake up at 5am to drive her to the train station? Who picks her up from there at 9pm? What if there are fish at the tables? Why should you have to forfeit volume at the poker tables in order to do errands or household chores?

You aren't thinking like a Poker Pro, you are thinking like a Poker Joe right now. A Poker Pro would buy her a brand new car so that he can grind in peace and not have to do normie stuff like drive people around.

come on man, i'm all for calling out his ridiculousness but don't give the guy shyt for doing the right thing.

No way!

You should tell your "friend" that the initial rakeback deal was unfair to you and that you will give him *half* the rakeback until you are fully repaid (maybe plus a bit of interest to appease him) then the deal is finished. Not getting this reback will kill your challenge.

And stop doing massive bluffs vs whales/fish when there is very little chance they will fold! The money you save (and *earn* that way) is way better for your ego overall (<~~~more $$$) than trying to make fish fold relative monsters for stacks.

I just couldn't help myself from pointing this out:

Someone earlier said that you would be generating $100 to $150 in rakeback per day on the apps you are playing on. (From just eyeballing it, I don't really see how the rakeback can be this high without the rake being so high that the game is just unbeatable, but I'll go with it.)

Even assuming you (i) actually generate $50 in rakeback per day and (ii) play 2.5 days per week for 44 weeks per year, then your total rakeback for the year will be $5,500.

You borrowed $1,200 with "no interest," but agreed that in lieu of interest you would give the lender all of your rakeback.

So, assuming the facts set forth above, on this $1,200 "interest free" loan you are effectively being charged interest at a rate of 458.333% per annum from your giving the lender all of your rakeback. That's right: 458.333%.

A quick google search shows that the average interest rate on credit card cash advances is 23.68% and the most typical fee is 5% of the advanced amount.

Assuming you have or can get a credit card with a cash advance limit not less than $1,200, then let's just assume that your interest rate and fee would be much higher than stated above. Let's assume 35% per annum interest and a 10% fee. Let's also assume that the interest compounds daily and you make annual payments of interest. Under these conditions the "interest free" rakeback loan is almost 9 times worse than the credit card cash advance loan. Here are the results of both $1,200 loans):


No Interest, Give Up Rakeback Loan

You give up $5,500 per year in rakeback.

This costs you $5,500 per year. That is 458.333% of the original loan amount of $1,200.


Credit Card Cash Advance Loan

35% interest on $1,200, compounding daily for 1 year, comes out to $502.60
$1,200 * 10% = $120 of fees

This costs you $622.60 per year. That is 51.883% of the original loan amount of $1,200. This is ridiculously terrible too, but the "interest free" rakeback loan you did is in a whole other unbelievable realm of terribleness.

And you could bring this $622.60 down to $545.96 if you paid the interest monthly (in which case the "interest free" rakeback loan would be 10 times worse than the credit card cash advance loan) or bring it down more if you paid the interest more frequently.


Of course the interest on the credit card cash advance loan would continuing compounding if you didn't pay the interest annually. And if you go bust or stop playing poker, I guess there would be no further rakeback payments to be made, but on the credit card cash advance loan the interest would continue accruing and compounding. But it still seems like something that is usually a really terrible idea (a credit card cash advance loan [especially to use for gambling]) would be way way way better than what you actually did.


You need to get out of this "interest free" loan right away. Modify the terms of the loan with your friend to make it at like 20% interest per annum or something and you keep your rakeback. (Although I could see where someone may want to charge an even more absurdly high interest rate than 20% when the borrower is going to be using the loaned funds for gambling, especially with no security for the loan.) Or pay back your friend and end the loan and get a credit card cash advance. Or pay back your friend and end the loan and get the money somehow else. Or, ideally, pay back your friend and end the loan and get at least a minimum wage job and work 30 to 40 hours a week and have more than the original amount of this loan in like a month or 2.


And I assumed $50 of rakeback per day and that you would play 2.5 days per week, 44 weeks per year. The higher any of those numbers get, the even worse this "interest free" rakeback loan gets for you. And I assumed significantly higher interest rate and fees on the credit card cash advance loan that what they would probably be.



EDIT:

And actually the credit card cash advance loan costs you $622.60 only in the first year. In subsequent years, under the above conditions, it would only cost $502.60. This is because the fee is a one time fee, so that won't need to be paid in subsequent years.

The rakeback deal is quite a lot, yes, but I'm not exactly in a position to be negotiating for something better.

I'm not eligible for a credit card because I'm unemployed. My wife isn't eligible because she's not a citizen or permanent resident.

And currently owing money to other people makes people not want to loan more to me.

It's not a great deal for me, but it's the best I could get.

Although I did speak to the guy and he is happy to give me a rakeback deal once I pay back the initial $1200. So hypothetically, if I were to build up the bankroll to say $1800, I could pay it back and drop down to 20nl/40nl with a $600 bankroll. That might actually result in a higher hourly win rate, once rakeback is factored in.

We need DLuo in here to lend OP another 20k. Paging DLuo!

And no one is jealous of you 6betme. You're jobless, living with your mum, and playing 60nl on your phone on a nearly zero bankroll.

Is this actually necessarily true in Australia?


Not a great deal .....

I would guess that it is an usurious and illegal interest rate (I would guess by quite a good margin too).


Owing money to other people too isn't great. So, are in further than $1,200. Hopefully the interest on the other loans isn't as bad.




^ Like, this, obviously.

That careful analysis and research that OP is famous for..


So you couldn't negotiate a reasonable interest loan other than getting all your rb totally ripped off? You have some cool 'friends'

Does anyone else find it amazing that the 2 loans OP has gotten wrt to poker are like the literal worst loans people could think of. And they’re from his “friends”!

He’d rather pay thousands in interest per year, effectively making his progress all but impossible unless he sun runs, rather than just get a job for a few months to grind a roll up on his own dime.


At the very least your current loan should have an end $ amount associated with it, like your buddy gets 1500 and it’s done. But hey, let’s just give free money to people in perpetuity...

I've loaned money to a very select group of people and never would I ask for interest. If I asked to borrow money from a friend and they wanted to charge me interest I would think less of them. No friend of mine!

Uhhhh you need to get new friends... or at least redefine what you mean by "friend" cuz obviously this dude isnt your friend

If youre so confident in your own skills, even borrowing money from your mom or wife, and offering them even a small portion of the rakeback as a favor, would be so much better. There's literally no logic whatsoever going on overall but i guess there never has been, so cant day im surprised

Friends also don't usually charge money for driving lessons but here we are.

I need to get on one of these $50 a day rakeback sites, unless I have to play on my phone.

Obviously lies in that OP could simply work a min wage job for $45k pa but not lies in that being a phone pro balla @ 60nl limits credit opportunity.

If a friend wants a loan for something like this, I’ll say no for their own good. If they push I’ll say yes but insert some insane interest stipulation hoping that they’ll say no themselves.

The flip side is when they ask for money for a good reason - I’ve had to pay friends rent before and would never charge interest but also know damn well I’m never seeing that money again. I know they may intend to pay me back but the chances of them being able to are slim.

I imagine 6BM’s friends are in the first group trying to prevent him taking these loans and inevitably punting the money, so charge crazy interest to dissuade him but he takes it anyway.