FAIR LOSS & WITHDRAWAL PLANS
i've made a few decisions about withdrawing money from poker. they were as follows, take £50k out, leave £28k in crypto, put £20k into prima (the idea to take a shot at the big games there) and £4k into betfair for sports betting mainly (£102k total after a £1800 win sunday night).
then i discovered a problem. prima would only allow $1000 a month deposit. i requested they up the limit but they wanted a load of id and stuff so i didn't bother. instead i lost all £28k and change on crypto at £25/£50, and put the other £19,500 that was supposed to go into prima into crypto.
so new plan is...
$1k into prima, £19,500 into crypto, £4k in betair sports betting & the rest (£50k) i cant get hold of.
if i bust in prima or sports betting i will probably stop doing them for awhile. if i bust in crypto i am allowed to take out £500 every 3 days from my savings 10times. if i still am bust then £25 every day then on.
finally for every winning day on crypto i take out 25% of that day's profits and for every winning day on prima i take out 10% of that day's profits.
welllll, in the middle of this post i played a bit on prima and betfair poker. obviously i bust both accounts quickly.
it means my roll is now just £19,500 and i really can't see it lasting long the way i'm playing right now.
then i discovered a problem. prima would only allow $1000 a month deposit. i requested they up the limit but they wanted a load of id and stuff so i didn't bother. instead i lost all £28k and change on crypto at £25/£50, and put the other £19,500 that was supposed to go into prima into crypto.
so new plan is...
$1k into prima, £19,500 into crypto, £4k in betair sports betting & the rest (£50k) i cant get hold of.
if i bust in prima or sports betting i will probably stop doing them for awhile. if i bust in crypto i am allowed to take out £500 every 3 days from my savings 10times. if i still am bust then £25 every day then on.
finally for every winning day on crypto i take out 25% of that day's profits and for every winning day on prima i take out 10% of that day's profits.
welllll, in the middle of this post i played a bit on prima and betfair poker. obviously i bust both accounts quickly.
it means my roll is now just £19,500 and i really can't see it lasting long the way i'm playing right now.
posted by Ed Hollis at 10:37 AM
16 Comments:
I will do my best to keep this positive Ed.
Bankroll *just* 19.5k??? Come on man that just means you need to drop limits for a bit. Park the ego at the door and build it back up at 5/10.
If you can't see it lasting then stop. Don't play while you are expecting to lose because sure enough you will.
So you have donked off 80k? Fairplay on ya m8, ur crazy but u have got balls. No point talking about BRM etc cause you know all about that but dont adhere. gl
Can you imagine if you had that £80,000(!!!) in front of you on your desk in £10, £20 and £50 notes? Man that pile of cash would look sweet, you would not be so quick to piss it all up the wall then! Next time you get that high, just withdraw like £50,000 and go buy yourself a hot car like a brand new Honda Civic Type R, have something to show for your winnings, to brag about to your mates, you will feel so much better, buy yourself a hench TV and PS3 with surround sound pimp up your room do anything but dont give it back damn thats a lot of cash man buy yourself something!Just think of it going out of your account as a loss which you don't care about anyway, then at least you will own some expensive stuff! Failing that give it to me in £0.50/£1 :-)
Did you manage to take the £50k out and are no longer including this as bankroll? It seems you lost around £52k from the figures you gave but still have a £19.5k “roll”?
I don’t think there is any point in trying to plan anything as any banked money will just go as quickly as it came. You’ve made so many promises to yourself and never stuck to any.
How can you stick to setting yourself nice cash out percentages of the day’s profits when you can manage to blow through £80k - EIGHTY THOUSAND POUNDS in one day.
It’s been said before by too many people about your money management, but now instead of envy of the money you had I just feel sorry for you.
You clearly have a skill in running up money, If only you could take a chunk out every now and then and give it to someone you trust who will invest it for you until the time when you can control yourself. So many people reading this blog would give everything to have the kind of run and money you’ve had and it’s so sad to see you just waste it.
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Ed can u clarify that u only lost circa £33k and u now have a £19.5k bankroll +£50k outside of poker a/cs. Thats how ive read it but there seems to be some confusion on exactly what u have done. GL with the bankroll management, its a good start IF u can stick to it.
Ed, why don't you try Full Tilt? There are many more high stakes games there than on Crypto, and the software is so much better. Just try to resist the temptation to play Sbrugby, Durr, Ivey or Benjamine and you'll do fine. You'll also have the advantage of people not knowing who you are.
I've been playing online poker for two years in a boom to bust way similar to you. I've never had a bankroll, I just play with my wages. Each time I deposit, I double, treble, quadruple my money, sometimes increase it ten-fold. But I'll keep on playing and eventually I'll take a beat, go on tilt, sit on a big table and quickly lose the lot. Like you I have no bankroll management or discipline; I guess I have been less successful, though, since while both of us always seem to end up bust, I've never got above £6,000. But what I see in you and recognise in myself is a difficulty in having two winning sessions in a row. You play best when your back is against the wall, when you're down to your last money. The next session you play after a big win, it's like you feel compelled to lose as much of it as possible. Perhaps you don't like being a winner, and are uncomfortable with money and don't know what to do with it other than play poker. That's something that will stop you from ever making a success of this. As everyone else says, buy yourself some stuff! Pay your parents £10,000 a month in rent on the understanding they'll put £9k by for you.
When you lose, I think like me it is a tendency you have to make massive bluffs and semi-bluffs on hands you really shouldn't get involved in - the one where the guy had 88999 and you had nothing was a good example. I know part of your LAG style is to be unpredictable, but perhaps you need to reduce your bluffing frequency. Maybe you get bored too easily which is what makes you do these massive bluffs? So, do something else while you're playing.
Anyway, good luck and do give Full Tilt a try!
Hey man,
I've just blown about $500 recently, which is about 1/4 of my roll. It started with a 4 outer outdraw on an omaha $10 MTT final table. This turned into losing a couple of 50-50s and 60-40 at the omaha cash tables, followed by major tilt! Its all my own fault really, and i'm taking a wee break right now before i try repairs. Anyway can i strongly recommend a book to you:
The Psychology of Poker by Alan N. Schoonmaker
It'll really give you an insight into you own habits as well as other players Basically, the reasons why we do the things we do with regard to poker and gambling. It's absolutely an eye opener and the ignorance is bliss method only lasts until there is nothing left.
I love reading your blog man, its very honest, full respect.
It's quite clear his new roll is £19.5k with savings of £50k. Seems potentially a very good starting point. I'd recomentd playing a few tables of NL£2/4 but we all know that's not going to happen.
I think the bankroll plan is completely bizare. Daily withdrawals? The fact that BS is still thinking in terms of major changes in BR daily means he doesn't really have BR management. And LOL at the idea of taking £25 a day out when "broke" on £45k to play with. As if. There's absolutely no point at all to seperating the £50k if BS doesn't move down from 25/50 anyway.
Hi Ed
If you still want a Prima account, I will be able to help you out with large deposits and rakeback - e-mail me at rednumber5@yahoo.co.uk
Not a huge loss if you did pull the 50K out...
Don't drop the limits too much, just concentrate on your discipline. One thing I have noticed is you don't have any small loses...if you lose a little you play until you are even or you are broke....many times this bring about desperation plays...how you can lose your stack.
I think some people are jealous of your youth and ability to generate quick cash. This is the only point in your life you will be able to do this but without discipline it is pointless.
You need to set stop losses and goals before you play. Eg. (3) 2k buy ins stopping at 10k no matter what. If you had been able to minimize losses you would have 300+ right now. If you don't have discipline to do this you won't have enough discipline to make it through life.
IT DOESN'T MATTER HOW FAST YOU MAKE THE MONEY...JUST HOW LONG YOU HOLD ONTO IT.
I think changing sites is a really good idea too.
Flop the nuts,
James
unless you have trouble with the english language, he withdrew 50K
If you wanna win real big, then go to the casino with the 50K and play No. 2 to the maximum. If the maximum on the number is 1000 quid then the 36 piece bet will cost 36K. Use the change to play the neighbours of 2. If No.2 comes in you stand to win 396K.
Let's face it, at 36/1 you got better odds than winning lot term in the high stakes poker games and imagine the 'high'....!
move entire roll to full tilt and stick it on the 1000/2000 nl tables, get rich or get broke. Fuck it, you're going to lose it all anyway.
hope you don't but everyone knows that you will.
you realise you could have bought a house and taken that millstone from around your neck for the rest of your life.
i love your blog, but am always surprised that aren't more people just pointing out that your a fucking idiot in the comments.
good luck, i really hope you win.
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hey guys, i have withdrawn £50k. only lost £32,5k.
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