How do you feel about people outright asking you for money? - Page 5

Sully · #41 09-23-2005, 08:26 PM

.....teach a man to fish, and he will never go hungry.

If these are people who you really wnat to keep as friends, tell them you will help them learn to be a good player if they are willing to work. Force them to understand the basics before they ever play a hand. Make them read books, study, the works. Turbo Texas Holdem isn't a bad way to make them grind out some free hands with decent competition. The free tables on these sites actually make you dumber.

Then set them up with a small bankroll that you are willing to never see again, under an account that earns YOU rakeback. Let them know this is exactly what you are doing, and that their rakeback is your fee if they ever become good. Make them feel obligated to keep that account if they continue to play, but expect that you will probably have to give some back when that day comes.

And when you think they are ready, let them take a shot and move up the levels. You will have accomplished two things:

1. "Given" them the $300 (or $500) or whatever they asked for
2. Shown them just how hard this "easy money" is.

And one out of ten may actually become a good player and earn you a little money. The others probably won't be willing to work hard enough to even get the initial stake, and will stop asking for money.

Sully · #42 09-23-2005, 08:28 PM

[ QUOTE ]
I think that's bizarre if they're actually being serious. My friends joke a lot when they see me play "d0od hook me up if youre making that much, youll just make more" but they arent really seriously asking. I'd get some new friends or something.

[/ QUOTE ]

Yes, they are. They are dead serious.

MicroBob · #43 09-23-2005, 10:37 PM

haven't read the whole thread.

I can imagine that this would be a tricky situation you have put yourself in.

Barry Greenstein kind of touches on this type of stuff in his book I think.
He mentioned somewhere in there (in a post or in his book or somewhere) that he gets people ALL THE TIME just asking him to stake them....many of the people asking are people he doesn't know I believe.
Everyone knows he's got money...and everyone knows he gives some of that money to charity. So maybe he would give some of that money to ME.
I imagine he has to be rather guarded in who he chooses to be friends with because of such situations where people say "Hey Barry...give me $8,000. What do you care? It's only a single big-bet to you."
I don't know how often it happens to him...but I suspect enough times that it has gotten pretty aggrevating.

I don't know what it is about people that makes people do this to people who have done well in poker.
I sure wouldn't just ask for money from anybody I knew to have some even if I was flat-broke (naturally I might have to ask to borrow some from someone that I know well enough).

NatethaGreat posted on almost this exact same thing (the uncomfortability of having so much more money than your friends) in the psych forum several months ago.

James Boston · #44 09-23-2005, 11:00 PM

I don't know if this has been mentioned, but alot of it probably stems from the fact that they don't see gambling winnings as money earned. I won about $100 at a home game one time, obviously nothing big. After the game, we went to eat. They all gave me crap for not picking up the check after winning big. Granted, it was their money I had, but they would have never had those expectations if they knew I had gotten $100 for mowing my neighbor's lawn, or some such thing.

And to say it again, don't discuss your personal finances.

Sponger15SB · #45 09-23-2005, 11:07 PM

[ QUOTE ]
Hey dude, can you spare me 500 bucks? PM me for my stars name. Thanks.

[/ QUOTE ]

His stars name is Sponger15sb, in case you were serious.

Goodie54 · #46 10-03-2005, 04:38 PM

Wow, Greg, I really disagree with you on this one. If I won more than, say, 3 million, I would definetly give my parents a ton of money. They wouldn't expect it, but with all they've done for me, that should be a given.

My wife and I discussed this last week just for #####'s and giggles what we would do if we won the lottery for a couple hundred million. We decided we would probably give at least 110 million away to friends and family. Why not? If you can make thier lives better and it wouldn't hurt you a bit, why exactly wouldn't you do that?

Just my two cents.

Peace

Goodie

MMMMMM · #47 10-03-2005, 10:33 PM

OK never mind the $300. How about $150?

4_2_it · #48 10-04-2005, 10:57 AM

[ QUOTE ]

My wife and I discussed this last week just for #####'s and giggles what we would do if we won the lottery for a couple hundred million . We decided we would probably give at least 110 million away to friends and family.

[/ QUOTE ]

A couple hundred million is worlds apart from $3-4 million. Let's say you win $500 million in the lottery. Federal and state taxes take it down to $300 million. In order to give $110 million (after taxes) to your posse, you will need to give them a total of $245 million(gift tax is still about 55% I believe). Do you see why giving away your money is a foolish financial strategy?

I will let Greg defend himself, but your argument is flawed when you compare winning $3-4 million(before taxes) with being Bill Gates rich. There is a difference.

drewjustdrew · #49 10-04-2005, 12:05 PM

[ QUOTE ]
If you can make thier lives better and it wouldn't hurt you a bit, why exactly wouldn't you do that?

[/ QUOTE ]

Because you have to know where to draw the line. If you start doling out, you have to explain various levels of respect and love ($$$$) to people who are important to you.

What if you were born into money? Would you be giving money to friends you meet in your life just because it won't hurt you? It doesn't work that way.

Goodie54 · #50 10-04-2005, 02:19 PM

So, if I cleared 300 million and was left with 55 million after I gave the rest away to friends and family, that would be fine with my wife and I. We could live happily ever after VERY comfortably on that money.

Who ever said I was trying to make the most financially sound stradegy? I would be trying to create the highest level of happiness for all the important people in my life.

The original post was about parents though. Obviously, if I won 3 to 4 million, my friends and extended family would have to fend for themselves. But my parents would be taken care of and I think this should most definetly be a given.

I can't imagine anyone winning this amount of money and not giving a good chunk to thier parents. That's beyond me.

Peace

Goodie