Backers? little content, but for me!

[Jack Fate]

illguitar,

i was in almost the same situation as you not too long ago. i had been a winning player up to $5/10 and then had to spend my bankroll on personal expenses. i wanted to go pro so bad but had no money to start with.

i suggest you do the following:

Get a job. Any old stupid job that will pay your living expenses will do. Then once you save up $1,000 start playing part-time $2/4 multitable (2 or 3 tables) and hitting bonuses and getting rake rebates if possible. There are many bonuses out there. These are discussed in these forums and in the ads on this forums. With some bonuses you can be making $40 an hour multitabling $2/4 with the bonus. Now this is a good earn rate comparable to single tabling $10/20 or $15/30. Don't cash anything out. Use your money from job to pay bills. When you hit $2,000, keep doing same thing at $3/6. When you hit $3,000 go to $5/10. Then when you get to $6,000, move to $10/20. I think you can get to this point in 6 months or less. Next I would keep playing $10/20 until you reach $12,000. At this point you can quit your job if you want. I would still just play $10/20 though even though you have double the amount that you need to survive. The reason is living expenses. This way if you have a bad month you can still dip into the extra bankroll and pay your bills without having to move down. By this time you'll be well on your way to building up to play the limit you want.
Also, if you're able to save money from the job, you can choose to add that to your bankroll as well.

Also, doing it this way you will become a better player and be better prepared for higher limits when you get there. I also suggest you read GTOT and get StatKing to help you with bankroll management decisions.

I hope this helps. Be patient, you can get there this way. I did.

[ggbman]

If you are multitabling you need more then 300BB for whatever limit you are playing, $6000 isnt enough to multitable 10-20.

[scotty34]

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If you are multitabling you need more then 300BB for whatever limit you are playing, $6000 isnt enough to multitable 10-20.

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I don't see how the fact that you are multi-tabling changes anything. The 300BB rule is to account for the swings due to variance at a particular limit if you are a winning player. The fact that you are multi-tabling should not affect this. The effect multi-tabling has is that you play more hands in a given period of time, but the swings should be essentially the same. Right?

[Stork]

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Right?

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Right.

[ggbman]

Wrong. This is wrong because when playing 4 tables. you can easily drop 100BB in a day. Almost no one can lose 1/3 of their bankroll and play their best game the next day. Also, the variance of many of the online games would dictate that a 300BB bankroll is conservative. Ask very good poker players if they have every had a 300 BB downswing. I would guess that a lot of them have. How do you think they kept playing? It's because 300 BB is not enough, epecially when you take pyschology into account with multi-tabling online.

[DeucesUp]

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Wrong. This is wrong because when playing 4 tables. you can easily drop 100BB in a day. Almost no one can lose 1/3 of their bankroll and play their best game the next day. Also, the variance of many of the online games would dictate that a 300BB bankroll is conservative. Ask very good poker players if they have every had a 300 BB downswing. I would guess that a lot of them have. How do you think they kept playing? It's because 300 BB is not enough, epecially when you take pyschology into account with multi-tabling online.

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Wrong. This is wrong because when playing 1 table. you can easily drop 100BB in a 4 days. Almost no one can lose 1/3 of their bankroll and play their best game on the 5th day. [img]/images/graemlins/smile.gif[/img]

The rest of you statement may, however, be correct in certain situations (SH'ed play in aggressive games for example).

[Rudbaeck]

It does change slightly actually, if you actually calculate your necessary bankroll instead of going by rule of thumb.

Your win rate will drop some and your variance will go up some, making a bigger bankroll necessary. (300BB is for a 3BB/100 winner with a well controlled variance.)

[illguitar]

Yeah, so I've taken a lot of heat for these posts, which, were by my own admition more than a bit overkilled. I should've chosen one area and stuck to it. The sarcastic responses were hilarious, most of them anyway. The flames were well-desrved, and the advice was both helpful and insightful. Re-reading my post, it is so over-the-top and emotion driven I laughed out loud. I'm sorry I subjected all of you to this, but I really have learned some things about backers, etc. Since I don't have any stats on myself, I will get a crappy job and continue to play low-limits and increase my bankroll.

I am cross-posting this to help you all understand that I understand how annoying this was. I'm sorry, won't happen again.

[ggbman]

Glad you feel you benefitted from the experience, and best of luck to you! Also on a side note, regarding the 300BB debate. If you lose 100 BB over any time period, be it a day or a week, you no longer have a sefficient role to play at your stake level. This is why 300 BB is nogt quite enough in my opinion.

[K C]

I don't think you'll have much luck getting a backer based upon all this (unless you can find some rich older chick hehe).

A few comments though: How much you need to start out with trying to earn a living at this is going to depend a lot on what the "opportunity cost" of the decision is. If you've got a 6 figure job, for instance, I wouldn't leave it unless you are both making significantly more at this and have the bankroll size to ensure it continues. If you're flipping burgers somewhere though, and can get another job easily, the equation is going to be a lot different of course, although you're still going to have to earn more than you're getting now.

From what you've said, the first thing you need to do is protect your bankroll a lot more. Buying Xmas gifts with it for instance is a bad idea when it's this small [img]/images/graemlins/smile.gif[/img]

Nice I.Q. and memory there [img]/images/graemlins/smile.gif[/img] Mine's over 160 but I can't remember a damn thing so you got me there [img]/images/graemlins/smile.gif[/img]

The most important thing at this point is that you've got to be patient. Continue developing your poker skills, and one day, not too far off, perhaps you'll have a legitimate shot at doing this for a living, and without anyone with their hand in your pocket, which you do not want.

Best of luck
KC
http://kingcobrapoker.com