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? for ppl that play poker for PT income

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  1. EaglesPwn EaglesPwn is offline

    Lititz, PA
    United States

    Posts: 1,487
    Joined: Oct 06

    Jan 4th, 2007 (1/4/2007 6:23pm)

    How do you guys pay yourself? Do you have a set bankroll and anything over it for the week you cashout? Do you only cashout 50% of your weekly winnings or do you not even cash out weekly. Just curious.
  2. Wein Wein is offline Sunday Millionaire

    Posts: 9,189
    Joined: May 05

    Jan 4th, 2007 (1/4/2007 6:26pm) in reply to EaglesPwn

    if it's a PT income I only cash out when I need it --

    if I go on vacation I'll cash out a ouple hundred.

    Other than that I try to leave it in.
     
  3. QQuadzilla QQuadzilla is offline

    Louisville, CO
    United States

    Posts: 1,437
    Joined: Nov 06

    Jan 4th, 2007 (1/4/2007 6:27pm) in reply to EaglesPwn

    I just leave it all in there until a few days before payday when i am usually low on "real work" funds...then i use some of it to get beer and herb and stuff, you know the essentials...
  4. alden167 alden167 is offline

    Portland, OR
    United States

    Posts: 1,822
    Joined: Nov 05

    Jan 4th, 2007 (1/4/2007 6:35pm) in reply to QQuadzilla

    Pay yourself hourly.
  5. EaglesPwn EaglesPwn is offline

    Lititz, PA
    United States

    Posts: 1,487
    Joined: Oct 06

    Jan 4th, 2007 (1/4/2007 7:05pm) in reply to EaglesPwn

    gotta be some other replies
    Thread Starter
  6. not_hans_brix not_hans_brix is offline

    Denver, CO
    United States

    Posts: 965
    Joined: Jan 06

    Jan 4th, 2007 (1/4/2007 7:13pm) in reply to EaglesPwn

    I think it really depends on your specific situation.

    What % of poker accounts for your income is a good start. If it is more of a supplement to income rather than a "2nd job", then I would think you take out money as needed, ie vaction, toys, etc.

    If its an actualy 2nd job, then you need to pay yourself accordingly. I would think a weekly withdrawl would make ssense in that boat?
     
  7. hostile hostile is offline

    Revelstoke
    Canada

    Posts: 8,631
    Joined: Aug 06

    Jan 4th, 2007 (1/4/2007 7:24pm) in reply to not_hans_brix

    i cash out $500 every 2 weeks and leave the rest to build the BR.

    and then when i want something big, like paying off Student loans I take 10k out and throw it down on that muh fukka.

    Whammy
  8. carshark carshark is offline

    Myrtle Beach, SC
    United States

    Posts: 184
    Joined: Oct 05

    Jan 4th, 2007 (1/4/2007 7:32pm) in reply to EaglesPwn

    I have been playing poker for about 5 years online now, and have had 2 years, 2004 and 2006, that i showed some profit. 2005 was a strange year in my personal life, so I am sure I lost overall, although I did show some good wins in MTTs.
    I now depend on poker as a supplement to my job, which is a commission only career. I normally do not keep very much of a bankroll in my online accounts. I have found that since this is still part time, that unless I "really need" the wins, I don't manage my play correctly. I hardly ever keep over $500 to $800 in my account, and after replying to this post and thinking about it, I probably won't keep that much in there, henceforth. I will play MTTs for as much as 50% of my balance, and I usually do better knowing I must win to not have to deposit. This may seem a strange policy, but I know, for me it is what works. Since I don't depend on poker for my living expenses 100%, this philosophy forces me not to get ahead of myself. Been there, done that in early 04. Hit a 60 day run that was $25k+, and proceeded to play way above my skills, buy-in wise.

    If it's parttime, supplemental, and for fun, CASH OUT and enjoy some other things, or pay a bill or two.
    If you want to turn PRO, then nevermind.
    DeLon
  9. Askesis_ Askesis_ is offline

    Tampa, FL
    United States

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    Jan 4th, 2007 (1/4/2007 7:36pm) in reply to EaglesPwn

    It depends. If you are playing PT and are content with that (as in, you are never looking to turn "pro"), you can keep all the money in, and withdraw when you need some extra cash.

    If you eventually want to go FT, it's a good idea to withdraw money every week, win or lose, giving yourself a payday. This is a good habit to get into.
     
  10. EaglesPwn EaglesPwn is offline

    Lititz, PA
    United States

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    Jan 4th, 2007 (1/4/2007 8:04pm) in reply to EaglesPwn

    Askesis, I totally agree...sounds like a plan.
    Thread Starter
  11. boozhwaa boozhwaa is offline

    Matawan, NJ
    United States

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    Jan 4th, 2007 (1/4/2007 10:21pm) in reply to EaglesPwn

    I just made the switch from part-time player to full-time, but my habits haven't changed (at least, not yet). I figure out how much i want to keep in my account, and withdraw whenever i feel like it as long as i don't fall below that amount. Usually i withdraw after a big win to reward myself and after a frustrating losing streak to pacify myself. On my main sites i keep enough in so that i can weather a few losing sessions without having to make a depressing deposit. On the other sites i just keep $100-$250 and withdraw anytime i get above that.
  12. BigSlim BigSlim is offline

    Saint Albans
    United Kingdom

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    Jan 5th, 2007 (1/5/2007 12:09am) in reply to boozhwaa

    My real Job only requires about 4 hours of thought a month, and it pays the rent, bills, and gets me my weekly food. My girlfriends job accounts for our savings, and when i become a winning poker player that will buy our luxeries as and when we want them.
  13. ACEmagnet ACEmagnet is offline

    Kelseyville, CA
    United States

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    Jan 5th, 2007 (1/5/2007 12:16am) in reply to BigSlim

    I usually cash about 300 a month to make ends meet;and build the BR. some months I go backwards;and other months I take more. this yr I bought my wife breast implants(2k) and for christmas I bought myself a laptop. I guess it all depends,I'd love a bigger bankroll;but I want to enjoy my winning also.
  14. FuFish FuFish is offline

    Matteson, IL
    United States

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    Jan 5th, 2007 (1/5/2007 12:29am) in reply to EaglesPwn

    i think part of the decision on what and when to cash out also depends on ones goals, if ur just trying to make some extra cash, then u probably wont keep a very big roll, if u wanna grow ur roll to compete in bigger mtts then u will want to leave more money in ur acct and cash out less often, if u wanna go for a career in poker, u will go for something like a 40k roll to play all the big mtts every day, and u will never cash out, presumably casue ur job takes care of u just fine. so one needs to examine what one wants out of poker to determine how one should cash out

    pea
     
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