Going to go ahead and get this posted up now to try and gauge interest. I wanted to do something a little different this summer in this marketplace if anyone is looking for an alternative sweat that shies away from the tournaments and plays to my experience in live cash games. I think this could be a fun vehicle for prospective investors as it provides a daily sweat/rail for the duration of the series. It’s based roughly on similar packages I had seen in the past though tweaked and dare I say refined a bit. May get a little long winded as I am trying to cover all bases on the proposition in this post.
My name is Ryan Leadem aka Wheydacheese, I have been on these forums for some time posting updates in a LvL thread here:
https://forumserver.twoplustwo.com/1...vegas-1457865/ as well as selling and buying action on this particular sub-forum. I have played live cash games in Vegas as a primary source of income for over a decade now and prior to that played mostly online. I play primarily 1-2/1-3 nlh as well as 2-5 nlh, 4-8, 8-16, and 15-30 O8, and 1-2 plo. If the low stakes bear some explanation I can only say I am not particularly motivated by money (for money’s sake) and have always been comfortable just paying life expenses, that in conjunction with a risk adverse nature and a penchant for travel/foodie lifestyle in leu of bankroll contribution has led to me having put in little effort into progressing in stakes to date. I have also been actively working on masters degree, doing research in 2 labs, and have had several clinical jobs over the last 2 years so poker had taken a side seat in that regard. All that said I would assume I am in the top 5% in the games I play pretty easily just based on historical win rates etc and my fundamentals should be sound/advantageous in most stakes live nlh games. I have also heavily invested in training site/video review, hand review, and range review over the last several months (probably more off table work in the last 4-6 months than in the last 3-4 years) to prep for the coming summer.
Historical Live NLH Data
1-2nlh aprox ~8000+ hours ~$27/hr
1-3nlh aprox ~2400 hours ~$32/hr
2-5nlh < 500 hrs ~$17/hr (I don’t feel this is very reflective as I have genuinely run badly for stretches in this limited sample as well as having failed to make some initial adjustments)
5-10nlh (have played literally only 2 sessions ever at shorter than 6 hrs each, both winning though to not have results on hand)
Current YTD 2019 (volume low bc school and spent some time out of country traveling)
The Package
For this package I am going to be taking shots at larger games than I usually play by aggressively game selecting taking advantage of the much wider/softer availability during the WSOP. The primary focus will be attractive 5-10 nlh games substituting deeper 2-5 nlh games when necessary (if no appealing 5-10 to be found etc) and occasional low stakes plo when good games present themselves. This is most def an ambitious ‘shot taking’ venture in that I am wiling to put $10k into it which represents a very sizable % of my working bankroll and thus making me heavily invested in a productive outcome.
I am looking to sell 50% of my cash game action for $10k matching my $10k at no markup for a combined $20k shot roll of which net profits/losses (and initial investments) will be split on a simple 50-50 ratio at the conclusion of the predetermined package period. This would give us roughly 13 buyins at a $1500 avg buy in which I believe would be adequate to overcome a high degree of short term variance. The minimal I would need to sell and match to launch on this would be $7500 giving us a combined $15k or around 10 buy ins of $1500 which should still be sufficient for the purposes intended.
Pieces will therefore be sold at face value 1% = $100 5% = $500 10% = $1000 etc. no min.
If package goes it will fire on first day of WSOP (May 28th) and conclude on final day (July 16th)
Outlook
The goal of this package is to play 2-5+ live cash games up to the $5-10 level over the duration of the WSOP series here in Las Vegas. A tentative goal of 40 hrs/week will be assumed though with commute time/game selection 35 is likely more realistic. While I cannot account for short term variance and I have a lack of personal experience at this level during WSOP, I think a soft target/hypothetical of $50-70 hr is reasonable as a baseline with high potential upside/ceiling.
Accountability
Staking live cash is by its nature a more convoluted process than online (where direct monitoring can be possible) or tournaments where receipts can be verified. To be as transparent as possible in this package I will be posting live on Twitter the location and starting time of each session played as well as rebuys/hands of significance/stack size updates/session results. Will also run a rail thread in here with results at the conclusion of each day. While I will not publicly post table #s I will provide that info to investors via private message and I would encourage investors to check in as desired in person/via agent to monitor accuracy of reporting if desired. I can also assure any potential investors my mental game is essentially bulletproof (I don’t tilt baby!
) and I have no life leaks (pit games, alcohol, drugs etc).
Da Fine Print
*a moderate ROR (risk of ruin) is assumed in this package due to the unpredictable nature of short term variance
*I do not nor do I claim to have any significant sample of experience in these games though I am confident in having a profitable edge
*investors will be paid out initial investment +/- exactly 50% of net profits or losses at the conclusion of WSOP
*the minimal game size played will be 2-5nlh/1-2 plo with the max size game 5-10nlh. If we go on godmode heater larger shots possible with full consensus of investors only.
*I have no plans to play any tournaments this summer, in the case that I do it will be out of pocket but investors in this package will freeroll 1/2 their prospective %s as compensation for time infringement.
*payment for package must be received 48 hours prior to May 28th start date and may be in the form of PayPal, Venmo, CashAp, $ in person Las Vegas.
*profits from this package will not be subject to taxes of any kind.
That’s all I can think of for the time being. Once again would need to sell around $7500 to make this feasible. If it doesn’t go I’ll likely be in my usual games and the capped 2-5 so hope to see everyone around. Thanks for your consideration.
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