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LeFou
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07-06-2005, 04:34 PM
Post subject: Cutting Losses?
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#1 (permalink)
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4-of-a-Kind
Join Date: Jul 2004
Location: Dallas, TX
Posts: 2,361
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Okay, I think this is sort of a bankroll/emotional management question. Also kind of a whiny annoying story. Here goes:
Pokerchamps offered 100% deposit bonus on $500, which I went for. After a few good weeks, I suffered the most horrible downswing of my life. BR cut basically in half. To make a long story short, it's unlikely I'll be able to clear the bonus unless I play all the time, and I'm in no shape, mentally, to do that.
Numbers: deposited $500, cashed out $150 at one point, balance is currently $165. So I'm down about $200 overall. The bonus, obviously, would make up this loss if I could clear it without losing the rest of my bankroll.
This sucks. Thanks for listening. Your thoughts?
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Theeggman
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Flush
Join Date: Apr 2005
Location: SoCal
Posts: 363
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Can you clear it playing limit & camping?
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I'll be a rootin' tootin' shootin' damn fool, protectin' my chips.
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UG
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Moderator
Join Date: Jan 2005
Posts: 1,855
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Sometimes you just have to cut your losses and say to yourself, "Well, that sucked." If you're not in any shape play then I wouldn't even think about trying for the bonus.
If you *are* in shape to do so....then try to clear it. I mean holy crap, you could play break even poker and still come out WAY ahead in this. Hell, you could lose $200 in that time period and still come out ahead a few bucks. Your BR would appreciate it if you did this...
P.S. I still say poker is rigged. This has happened to me a few times. I get cards that hold up early when I join a new poker room and then I get shit on constantly. ONLINE POKER IS RIGGED I TELL YOU. 
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ensign_lee
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4-of-a-Kind
Join Date: Feb 2005
Location: The University of TEXAS at Austin
Posts: 2,237
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Lately, I've run into this. Think about how many more hands you have to play to clear the bonus. Then, see if the amount of just playing the blinds is smaller than the bonus that will be released.
Example: Same kind of crap happened to me earlier on one of the Party Skins. I had another 200 hands to go in order to get $200 more, after having played 800 hands. Well, I'd just lost about $500 trying to clear it earlier, so as you can imagine, I wasn't too keen on trying to clear the bonus. But I figured, hell...it'll cost me $1.50 in blinds every 10 hands to just post the blinds and fold if I drop down to $100 NL. So that means that teh blinds alone will cost me about $30 if I play 200 hands. Assuming that it would actually take about 275 hands to get to 200 raked hands, then the figure turns out to be $41.25. So it was worth it to me to just sit down at four tables and fold EVERYTHING for an hour to get my 200 hands and get my $200. OK, to be honest, I didn't fold KK or AA, and it cost me a little bit :P, but yeah. I came out ahead $60 at the end just by folding nearly everything and getting a $200 bonus.
So how many more hands do you have to go to get the bonus? Will the cost in blinds be smaller than the bonus you have left? If so, you may as well just post blinds and fold...and then claim your bonus. It's something, at least, right?
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LeFou
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4-of-a-Kind
Join Date: Jul 2004
Location: Dallas, TX
Posts: 2,361
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Quote:
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Originally Posted by Theeggman
Can you clear it playing limit & camping?
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No, you can't 'cause champs clears your bonus kinda funny: it scales based on the amount you, personally, contribute to the rake. So camping won't work. Camping at 3/6 or higher might be sufficient, but I'm not bankrolled for that anymore, and the site is so off-the-beaten path that there's only a 3/6 game available about three days a week.
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LeFou
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4-of-a-Kind
Join Date: Jul 2004
Location: Dallas, TX
Posts: 2,361
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Quote:
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Originally Posted by Ultimate George
you could play break even poker and still come out WAY ahead in this.
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*Sigh...
playing breakeven poker would be AWESOME!!!!!!11
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WhooFleuryScores
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07-08-2005, 05:50 PM
Post subject: Same boat..........
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#7 (permalink)
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Full House
Join Date: Jun 2005
Location: Massachusetts
Posts: 918
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I'm in the same boat myself right now.I had dedicated myself to playing seriously online since school got out.Before my 3-week trip overseas I had gotten up to around $700(with bonuses helping me out) and even managed to get some time in while on the trip to boost myself to nearly $900(although right before I got back I fell to $850;still solid though).Since I got back a couple days ago I hit the tables and this is what has happened since:
Starting bankroll: $461 at Party;currently in the midst of clearing a $150 bonus with 700 hands to go,and a few weeks left as well to clear.
Pulled out $300 using Firepay;deposited that into Empire(I wanted to do Party but Party still has my old address and updating it is a pain so I decided to just put it into Empire which has my updated info).
Later(for some BONEHEADED reason) decided to do a quick withdraw and pull out some of my Party money and dump it into my Empire account(strength in numbers right?).
My amount starting this IDIOT stunt: $694.
AS OF TODAY: $450 roughly.That is -$250 in a span of 48 hours.
To make a long story short:take some time off and then rehit the tables.
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eeeee
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Full House
Join Date: Jan 2005
Location: SoCal
Posts: 906
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It's tough to keep going back to the same room where I got an ass-whoopin', but how else can I learn sumptin'?
Really, I don't believe that completely. Playing poker is more about making money, and some of the money you make comes from picking the right table --these aren't the right tables for you.
If it is a time-PLUS-tilt problem, stay away. You won't get over the tilt without being able to back away for awhile. If you are coming up on the end of the bonus time period, walk away. Go play someplace that will give you back the confidence you need to win, IMHO.
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I'm a know-it-all.
No, really.
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WhooFleuryScores
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Full House
Join Date: Jun 2005
Location: Massachusetts
Posts: 918
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Quote:
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It's tough to keep going back to the same room where I got an ass-whoopin', but how else can I learn sumptin'?
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One thing that helps is switching sites.Sometimes the same players see you in and out and they start to take advantage of the fact that you're on TILT.
Quote:
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Playing poker is more about making money, and some of the money you make comes from picking the right table --these aren't the right tables for you.
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I learned that the hard way as well.Eddie Towne once said "Who you play is just as important as the cards you play.This is way game selection is so important.It doesn't matter if you're the 9th best player in the world if the people at your people are the top 8."
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DoGGz
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You need to just get your head up and focus. This is one of the best traits of a poker player. If you can't accept variance you need to just quit now, and don't come back until you can handle large swings
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WhooFleuryScores
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07-18-2005, 05:35 PM
Post subject: I tell you
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#11 (permalink)
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Full House
Join Date: Jun 2005
Location: Massachusetts
Posts: 918
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Quote:
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This is one of the best traits of a poker player. If you can't accept variance you need to just quit now, and don't come back until you can handle large swings
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I tell you at the rate I'm going I'll be able to handle variances like nothing.......  .....yesh........
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