Regulating Cashouts

yanicehand · #1 04-06-2005, 08:53 PM

Hey guys I have a question mainly geared towards other college students who use this as their source of income. How do you decide when/how much to cashout of your bankroll? I figure their are two main ways to handle it: cashing out for expenses as needed, and leaving a majority to all of it in your bankroll. I've been having some trouble deciding, as it seems like leaving it in your roll is almost like leaving it in a mutual fund/stock that matures and grows the longer it stays in vs. very small growth and immediate cash. If you keep cashing out, it gets harder and harder to move up levels because of variance and I feel like I'm losing ground. However if you leave it in there seems as if there is much more profit to be made.

I know this could be answered as simply as "it depends on your goals" but I was curious to find out what most people do. Right now my goal is to move up, play more, get better, etc., so I leave almost all of it in my account and occasionally cash out my rakeback to use for myself. What is your method?

1C5 · #2 04-06-2005, 09:17 PM

Good question.

I currently don't need my poker money (except for the expense of 3 Dell 2001 FPs which come out of my winnings)...

But right now besides that I am now building my roll to move up in limits which means no withdrawls unless I really need to.

raptor517 · #3 04-06-2005, 09:34 PM

well, i dont really need to cash out for anything. i guess if any account gets over 10k, ill usually cash out to neteller, but for the most part i just leave a bunch of money in there in case i ever decide i want to lose it all in one night [img]/images/graemlins/wink.gif[/img] holla

DonButtons · #4 04-06-2005, 10:03 PM

[ QUOTE ]
well, i dont really need to cash out for anything. i guess if any account gets over 10k, ill usually cash out to neteller, but for the most part i just leave a bunch of money in there in case i ever decide i want to lose it all in one night [img]/images/graemlins/wink.gif[/img] holla

[/ QUOTE ]

lol...tell me next time your going to play the 200s again then i guess...holla

Apathy · #5 04-06-2005, 10:08 PM

I have recently decided that its a bad idea to keep lot sof money on site so I am cashing out now to a seperate high interest account everytime i go to 10k, I cash out 5k (max on empire).

That way poker money and life money are still seperate and if you need money from your bankroll you just take it out of your account.

yanicehand · #6 04-06-2005, 10:39 PM

i like it. compulsive gambling is my favorite.

gh9801 · #7 04-06-2005, 10:52 PM

I multitable 20+2s on Party, and keep around 15 buyins in my account at all times. When I am up a decent amount, I cash it out until I'm at 15 buyins again. I rarely have to deposit again because 15 buyins is usually enough for me to work with. I don't have much ambition to move up higher than 20s, so this works fo rme

beeyjay · #8 04-07-2005, 12:09 AM

I usually take out about 500 every two weeks to cover my expenses. (Ya I go to the bars entirely too much) But for the most part I keep the money in my poker/neteller accounts and only cashout what I need for immediate use. I'm still moving up but if I stop moving up I'll probably take money out and start investing it in stocks and such but for now its most profitable to keep it in my online roll.

citanul · #9 04-07-2005, 01:46 AM

I'm no longer a college student, but I do use poker to pay my expenses.

I have varied for a while what it is that I do to do my cashouts, or my strategy, as it were.

Recently, for instance, I decided I wasn't cashing out enough, so I decided to cash out every day if I was up on the day. I like that system.

I think that even if your poker profits are your "mad" money, it is important to allow yourself the chance to move up in limits by building your bankroll. (after all, the point of mad money is to have more mad money, so you can do crazier things.) So even if i was going to, say, be playing the 20s on a 660 bankroll, and a goal of taking out like 200 bucks a week, i'd leave like 30 or something like that extra in a week to move the bankroll up.

or something.

citanul

BradleyT · #10 04-07-2005, 01:57 AM

[ QUOTE ]
Hey guys I have a question mainly geared towards other college students who use this as their source of income. How do you decide when/how much to cashout of your bankroll? I figure their are two main ways to handle it: cashing out for expenses as needed, and leaving a majority to all of it in your bankroll. I've been having some trouble deciding, as it seems like leaving it in your roll is almost like leaving it in a mutual fund/stock that matures and grows the longer it stays in vs. very small growth and immediate cash. If you keep cashing out, it gets harder and harder to move up levels because of variance and I feel like I'm losing ground. However if you leave it in there seems as if there is much more profit to be made.

I know this could be answered as simply as "it depends on your goals" but I was curious to find out what most people do. Right now my goal is to move up, play more, get better, etc., so I leave almost all of it in my account and occasionally cash out my rakeback to use for myself. What is your method?

[/ QUOTE ]

Cashout for "Dudes Night Out".