UntilTheNDofTimE
At the tables
- Since
- Jan 30, 2010
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How do you guys tie in living expenses with optimal bankroll growth?
I also assume you guys invest in retirement as well since some forms of retirement accounts would be more lucrative then the compound interest you make sports betting(maybe not).
Until recently ive always had a full time job so any form of profits that steemed from gambling i was able to just reinvest the profits in my bankroll. My working wage would always cover my living expenses.
Ive been playing poker since i was 13. Started playing 1/2 NL when i was 18 and had good success and was always a break even/small profit player. As years past i started to play 2/5 and 5/10 NL as i grew my bankroll and was making on average approx $26 a hour playing part time over a period of 14 months. Since ive been unemployed ive resorted to playing full time 2/5 and 5/10 NL and have experienced even greater results.
On the side i work under the table, get paid half the time i play, and collect unemployment. My unemployment and working wages well cover my living expenses along with material things i wish to purchase. Because of this i can continually grow my bankroll and a bad streak will not cripple me.
On the flip side a person who gambles professionally can not spend all his profits or his losses would completely diminish ones bankroll due to living expenses. Do you guys find it hard to purchase such luxary items you want that could damage optimal growth. If your say clearing 100k a year do you try to only spend 40k so you can continually increase your profit margins.
I have no aspirations of being a professional gambler, i simply enjoy playing poker as a highly profitable secondary income. But was just wondering how you reinvest profits/spend money. A person who makes 100k on salary can spend every dollar he earns knowing he has a guarenteed check every week. With variance in gambling id assume this becomes a much more difficult task.
This question is more geared towards sports betting as every dollar you earn increases your bankroll which increases you risk per play/edge. In poker if your playing at a set limit you can assign yourself a bankroll say 50 buy ins and anything above that you can invest freely in other areas. This is assuming you dont plan to move up in limits. You do however come to this same point in sportsbetting by max betting limits. But that is why pros like durito have 100's of accounts so max betting limits become nearly non existant.
I also assume you guys invest in retirement as well since some forms of retirement accounts would be more lucrative then the compound interest you make sports betting(maybe not).
Until recently ive always had a full time job so any form of profits that steemed from gambling i was able to just reinvest the profits in my bankroll. My working wage would always cover my living expenses.
Ive been playing poker since i was 13. Started playing 1/2 NL when i was 18 and had good success and was always a break even/small profit player. As years past i started to play 2/5 and 5/10 NL as i grew my bankroll and was making on average approx $26 a hour playing part time over a period of 14 months. Since ive been unemployed ive resorted to playing full time 2/5 and 5/10 NL and have experienced even greater results.
On the side i work under the table, get paid half the time i play, and collect unemployment. My unemployment and working wages well cover my living expenses along with material things i wish to purchase. Because of this i can continually grow my bankroll and a bad streak will not cripple me.
On the flip side a person who gambles professionally can not spend all his profits or his losses would completely diminish ones bankroll due to living expenses. Do you guys find it hard to purchase such luxary items you want that could damage optimal growth. If your say clearing 100k a year do you try to only spend 40k so you can continually increase your profit margins.
I have no aspirations of being a professional gambler, i simply enjoy playing poker as a highly profitable secondary income. But was just wondering how you reinvest profits/spend money. A person who makes 100k on salary can spend every dollar he earns knowing he has a guarenteed check every week. With variance in gambling id assume this becomes a much more difficult task.
This question is more geared towards sports betting as every dollar you earn increases your bankroll which increases you risk per play/edge. In poker if your playing at a set limit you can assign yourself a bankroll say 50 buy ins and anything above that you can invest freely in other areas. This is assuming you dont plan to move up in limits. You do however come to this same point in sportsbetting by max betting limits. But that is why pros like durito have 100's of accounts so max betting limits become nearly non existant.
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