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BankItDrew
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07-18-2007, 11:57 PM
Post subject: What $ do you withdraw?
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#1 (permalink)
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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What $ do you withdraw?
When I go pro, I'd like to have a large enough bankroll to allow me to take out about $1k each week. I think this can be accomplish playing 100NL. If this amount is sustainable, what size bankroll would you recommend to me?
I'd like to also hear about everyone else's sitch.
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wufwugy
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4-of-a-Kind
Join Date: May 2006
Posts: 1,660
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4k a month at 100nl? You must have some crazy high winrate or play tons of tables and hands.
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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^^^^^^^^^
9 table 3 - 4 hrs / 6 days/week. I don't use software so i can't tell you my winrate. The only thing that might help is that my roll went from $2900 to $9800 since i went to 100nl on the 21st of june. That's only 27 days so prolly a major hot streak that won't last forever.
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bigspenda73
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Straight Flush
Join Date: Jul 2006
Location: Pwnsylvania
Posts: 7,546
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I don't understand the question.
You need to tell us if you want to move up to 200nl or not and what your living expenses are. If you want to stay at 100nl then just withdraw your winnings weekly b/c at $9k you're grossly overrolled and pretty darn overrolled at $200nl as well.
From what I hear you can play so who shouldn't have any problems bringing in $1k a week and probably even more after supernova bonuses.
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jyms
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Tilting Mod
Join Date: Feb 2006
Posts: 4,836
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$1500 of that would be rakeback if he plays about 60k hands, so he only needs around $2500 a month. If you play 20 days it's $125 a day/3000 hands.
@ 2PTBB/100 =$4/100 hands x 30 = $120 dollars over 3000 hands
Very do-able. If you run less PTBB then you need more hands. If you run higher it goes to the BR or higher withdrawals.
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by bigspenda73
I don't understand the question.
You need to tell us if you want to move up to 200nl or not and what your living expenses are.
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Jim summed it up nicely for me. I know that 30 buyins or whatever, but I want to know how this amount changes when consistant withdrawls are taking place.
One thing I didn't understand was the rakeback. I play on Stars and they have this $1500 bonus for every 100k fpp if you are a supernova. I'm currently on the platinum level and on pace for mid september to move that up. Someone in another thread said that they were eligible for supernova on jan. 1 2008.. is this because they don't switch you over until the year is up ?!
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mixchange
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4-of-a-Kind
Join Date: Oct 2006
Location: San Francisco, CA
Posts: 1,665
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That was me. No, it's 6 months, I just first qualified in June. Just co-incidence about the Jan 1 date.
Nice winrate at 100NL. Why don't you go to 200NL? You'd make more, though it's easier to find 9 tables of soft games at 100nl. Then again now that I'm at 200NL at PS, I'd be happy to see you stay at 100nl ;p
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Chopper
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Straight Flush
Join Date: Dec 2005
Location: St. Louis, MO
Posts: 4,255
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Quote:
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Originally Posted by BankItDrew
^^^^^^^^^
9 table 3 - 4 hrs / 6 days/week. I don't use software so i can't tell you my winrate. The only thing that might help is that my roll went from $2900 to $9800 since i went to 100nl on the 21st of june. That's only 27 days so prolly a major hot streak that won't last forever.
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drew, what the hell happened to you? dont use s/w? you used to. you had the most hellish graph of 50NL i've ever seen!! no variance over a ton of hands.
guys, if he's on, he can more than kill 100NL. drew, you should be at 200NL and with even a similar winrate, you could pull a decent chunk out for income...and most of that would be RB. i'd put money on you at 400NL+.
but, you'd better learn 6max.
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LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.
Nothing beats flopping quads while dropping a duece!
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by Chopper
but, you'd better learn 6max.
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This is something that I have never played, other than maybe a dozen hands @ 10nl. I know it's great for reading purposes, but would it really kill me if I just avoided it for now and concentrated solely on FR? btw, thx again for your compliments chopper. btw I didn't start this thread to brag either... fwiw.
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Chopper
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Straight Flush
Join Date: Dec 2005
Location: St. Louis, MO
Posts: 4,255
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dude, i know that.
and, no, i dont have a "gun to your head" to learn 6max. i've just noticed the higher you go, the harder it is to find a fr game going...much less 8.
so, its gotta happen eventually, unless you want to start playing tournies, live, or move to Vegas...lol.
not that you'd cross the border... 
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LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.
Nothing beats flopping quads while dropping a duece!
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I Like Pie
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Flush
Join Date: May 2006
Location: Toronto, Canada
Posts: 399
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I was wondering this too before I made this my primary income. I simply just withdraw money when I need it. It's working fine so far.
The biggest problem I have is I'm not sitting down to play enough. My lazy ass is only putting in about 16-20 hours a week.
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Chopper
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Straight Flush
Join Date: Dec 2005
Location: St. Louis, MO
Posts: 4,255
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16 hrs?
you are making me laugh. if you move up high enough, then, 16 should be plenty.
but when up that high, you would be cutting into your TV time, and of course, writing all those articles and books like negreneau, lederer, hellmuth, harrington, et al.
j/k. must be nice to work so little, yet, make enough to get by.
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LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.
Nothing beats flopping quads while dropping a duece!
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by I Like Pie
I was wondering this too before I made this my primary income. I simply just withdraw money when I need it. It's working fine so far.
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Can you give me an idea of how much you are making and how much/often you withdraw? I thought about taking out money whenever I needed it, but I guess not enough thinking. It makes sense to do this because then you don't put weekly, monthly, or even yearly $$ goals on yourself... which would make for better play.
how long has it been for you? what stakes, # of tables, etc.
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Jager
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Full House
Join Date: Aug 2006
Posts: 754
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My original plan was to withdraw my rakeback/bonus $$. Then use whatever I earned on the tables to increase my roll and move up. This is still the plan, but after 3 straight 5 figure months, I withdrew about 10k for some stuff I needed for my house(ie roof, washer/dryer, etc.). Now I am kinda stuck, I think I am good enough to beat 2/4, but I need to get through a rough stretch before I will take another shot.
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I Like Pie
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Flush
Join Date: May 2006
Location: Toronto, Canada
Posts: 399
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Quote:
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Originally Posted by BankItDrew
Quote:
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Originally Posted by I Like Pie
I was wondering this too before I made this my primary income. I simply just withdraw money when I need it. It's working fine so far.
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Can you give me an idea of how much you are making and how much/often you withdraw? I thought about taking out money whenever I needed it, but I guess not enough thinking. It makes sense to do this because then you don't put weekly, monthly, or even yearly $$ goals on yourself... which would make for better play.
how long has it been for you? what stakes, # of tables, etc. |
I can't help you too much with that. I've only done this for 5 weeks now (since I finished school) so I'm new to it and I haven't had to withdraw much from poker bankroll. I made some pretty good money casino whoring and I'm still withdrawing from those winnings.
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by Jager
after 3 straight 5 figure months, I withdrew about 10k for some stuff I needed for my house(ie roof, washer/dryer, etc.). Now I am kinda stuck, I think I am good enough to beat 2/4, but I need to get through a rough stretch before I will take another shot.
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Dude, 3 straight 5 figure months? Teach me how to play poker. How often do you play? 1/2nl?
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Jack Sawyer
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4-of-a-Kind
Join Date: Jan 2007
Location: Old School
Posts: 2,535
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Just withdraw what you need.
I plan to make $100 a day, of which 1/2 goes to my online BR and 1/2 goes to my offline BR, which has to sustain going out with the girlfriends, utilities, miscellaneous garments, etc.
If i ever become a bigshot and make more than that, the ratio will shift more towards my online BR. I will live like a king with an income of ~$4000 USD/mo., that's a real fortune around here (and the gov. will never know! ).
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My dream... is to fly... over the rainbow... so high...
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DemonDaze
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Join Date: May 2006
Location: Sydney
Posts: 74
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A conservative approach is to have 3-4 months of living expenses (personally I would aim for 6), completely outside of your bankroll. This enables you to not worry about having a bad month or two.
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LiveTheDreams
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Quote:
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Originally Posted by wufwugy
4k a month at 100nl? You must have some crazy high winrate or play tons of tables and hands.
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Damn i like that ass.
What were we talking about
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by Jack Sawyer
I will live like a king with an income of ~$4000 USD/mo., that's a real fortune around here (and the gov. will never know! ).
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where do you live?
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Gritho
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Join Date: Nov 2006
Location: Europe
Posts: 40
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BankIt, you play NL200 now, don't you?
How is the competition compared to NL100?
@ Topic:
Fulltimers I know are withdrawing about half their winnings or living from bonus, rakeback and selling Amazon gift certificetes on ebay.
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andy-akb
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4-of-a-Kind
Join Date: Jan 2006
Location: Maine
Posts: 1,836
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Making that much at 100nl is definitely possible, but it is going to be a grind. I think I have to agree with what most people say; take money out when you need it. Even if you feel like you need to withdraw a certain amount every week, $1000 is pretty high. Not high in terms of unachievable, but high in terms of why do you need to be cashing out that much? I mean, your expenses most likely arent that high, so why take out so much?
Ive been a "pro" for awhile, but thats only because Im a student. Every month I would withdraw my rakeback and bonuses and put that into my savings and checking account. I dont need a ton of money to get by, so there was no need for me to stunt my growth by constantly cashing out of my BR and this plan still gave me >=$2k/month.
However, I have made some big cashouts under different circumstances. Once when I had just moved up to 400nl and just wasnt confident with my game, I cashed out down to like $8k and grinded it out for awhile until I was comfortable moving back up. The other time was semi recently when I moved into a new apartment and furnished it, bought my dad's old car, etc. After doing that my account was hacked which really hurt so Im back to the rebuilding stage.
I probably rambled a bit and typed way more than you wanted, but hopefully it will help. In short, my main advice is that you should just cash out money when you need it and aggressively move up in limits so that you dont just stay stagnate at your current level. Yea, you can make decent money at 100nl, but there arent many reasons not to try to move up and make more. A lot more.
EDIT
Quote:
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Originally Posted by DemonDaze
A conservative approach is to have 3-4 months of living expenses (personally I would aim for 6), completely outside of your bankroll. This enables you to not worry about having a bad month or two.
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This is something I forgot to menti0n. To make things easier, have AT LEAST 6 months of living expenses in a money market or savings account or whatever. That will give you a little cushin and take off some of the stress of not having a constant source of income. However, do not just this just for money whenever you need it. Only tap into that account when you didnt make enough to withdraw to cover your expenses.
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larsmars
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3-of-a-Kind
Join Date: Nov 2005
Location: Norway
Posts: 101
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Quote:
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Originally Posted by andy-akb
After doing that my account was hacked which really hurt so Im back to the rebuilding stage.
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What happened? 
Best of luck, BankIt, defineately doable. Soon you should have the BR, skill level and confidence to play 1/2 anyway and after that it's a walk in the park. Well, kinda.
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IowaSkinsFan
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Straight Flush
Join Date: Oct 2004
Posts: 7,148
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My advice: Don't cash out 1k a week.
If you're really good enough to make 1k a week at 100nl you should be moving up and making more.
If you're at 100nl your winrate is going to be no greater than 3ptBB/100, unless you're way better than your level there's barely any chance you'd be able to beat that long term. if you make 3ptbb/100 and you play on average 3.5 hours a day 6 days a week.
It's about 500 hands an hour, that would be $30 an hour. 21x30= $630 a week. That's on average, if your long term winrate is that.
There are plenty of people who think they can make enough money to go pro. If you play 8 hours a day then i'd say you should do it. Otherwise i dont think you should, unless you have maybe 12k to live off of that's not in your BR. There are plenty of players on this site who "went pro" and ended up enduring hard financial struggles because of downswings and not making as much money as they thought they would.
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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Quote:
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Originally Posted by Gritho
BankIt, you play NL200 now, don't you?
How is the competition compared to NL100?
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Yeah, I moved up around the 21st of Julu I believe. I find the competition to be the same, even though I've run into hard times my last two sessions. I've played 5 sessions total @ 200nl and I'm up 1 and a half buy-in. The first three sessions seemed pretty standard for the type of month I was having = +11 buy ins. Last two sessions = -10 buy-ins. I know this sounds so 'typical' of a downswing for cocky players, but I attribute about 80% of my losses over the last two days as negative variance. I have honestly never seen so many of my sets loose in such a short period of time.... or maybe I'm not playing my big hands fast enough.
I'll post an update in a week or so on my progress and wether I've moved back to 100nl by then or not.
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Jack Sawyer
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4-of-a-Kind
Join Date: Jan 2007
Location: Old School
Posts: 2,535
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Quote:
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Originally Posted by BankItDrew
Quote:
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Originally Posted by Jack Sawyer
I will live like a king with an income of ~$4000 USD/mo., that's a real fortune around here (and the gov. will never know! ).
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where do you live? |
on a Dutch-Caribbean island, off the coast of Venezuela
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My dream... is to fly... over the rainbow... so high...
Quote:
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VHS is like a book and a book is like a stack of kindles.
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Hey, I'm in a movie!
http://youtu.be/lGdnIrRKDTI
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wufwugy
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4-of-a-Kind
Join Date: May 2006
Posts: 1,660
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200nl is a gigantic nit fest. I have seen some say it's the same as 100nl, but I am surprised. It is most definitely not.
Nits are not that good at poker, though. So I still own them.
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