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Server Time: 10/11/2008 6:03:01 AM PACIFIC |
 What else. . . Another Bankroll Question!, Todd Kerrin, 7. Nov 2003 01:14 | ||
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| Hey guys, First time post but a huge fan of the forums here. Anywho, my question is one that has been eating away at my brain for some time now. I've always been curious as to how one, as a strictly professional poker player, manages paying bills (like rent, insurance, etc.) while still attempting to grow their bankroll. It seems to me that if I need $1000 a month to live comfortably, a prolonged losing streak could really bite into my security if I'm not using a day job for a steady check. Is there a certain percentage that goes into a spending account and another portion that you put back into your bankroll? Thanks for any feedback, and once again, these are very informative forums! -Big Todd | ||
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| Re: What else. . . Another Bankroll Question!, ReMMy, 7. Nov 2003 07:24 | ||
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| Most recommendations are to have 3-6 months living expenses saved. Then a big enough bankroll for whatever games you intend to play. 300 big bets is good for regular player, but you might want to wait until you have 500-600. Since much of your winnings will be withdrawn on a regular basis, this will help you withstand an extended losing streak and also give you the flexibility to sit an a higher stakes game if a really juicy one presents itself... Good Luck! | ||
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| Re: What else. . . Another Bankroll Question!, Mark Barnett II, 7. Nov 2003 10:21 | ||
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| if i were going to try this i would eliminate as many bills as i could live about as cheaply as i could and get a part time job *not full time too stressful* to pay the bills and also commit myself timewise to something *also large gaps in employment history can be frowned upon if it doesnt work out* money/bill wise write down all bills and add lots of fudge factor *unexpected expenses like car maintenance* then divide by days in the month and each day remove that amount from your bankroll, this should tell you how your doing on a daily basis and also makes sure bills are paid Rule #1 of Poker Circumstances alter cases Rule #2 NEVER forget rule #1 | ||
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| Re: What else. . . Another Bankroll Question!, Robert M, 7. Nov 2003 17:04 | ||
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| IF you can live comfortably for $1000 dollars a month, you're already way ahead of the game. | ||
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| Re: What else. . . Another Bankroll Question!, Mark Gregorich, 7. Nov 2003 23:10 | ||
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| I pay myself a monthly "salary" which covers stuff like the mortgage, bills, food, and entertainment. This salary doesn't change based upon how I did that month. Yes, I can withstand some losing months, largely because I play well within my bankroll. But, it would certainly hurt. I basically grow my bankroll by trying to play enough hours in games where my expectation is great enough that by the end of the month, my expected win is greater than my cost of living. I do most of my playing in Las Vegas, and in the year or so following the 9/11 attack this was a dicey proposition (very little tourism, plus the stock market crashed making many people feel as if they had little discretionary income). Now that we seem to have entered the "Golden Age of Poker", it hasn't been too much trouble. That year was rough, though - I'm just now getting back to where I was bankroll-wise a couple of years ago. Mark | ||
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