Who is losing all the money!

breadmonkey

I've only been into poker for 3 months or so and I've never played in any real events, only home games and once or twice in college.

BUT:

I know a couple of lads who play "seriously". One of them is up €3000 over the summer, the other guy up a few hundred. There always seem to be a lot of threads here discussing "how much do you make a night on average" and things like that.

So, as per title, who the fizzle is losing all of their money??

Lex

They're called "contributors" or "fish" - people playing levels above what they should be playing (I'm sometimes one of them!! )

Doc Farrell

8 or 9 out of ten players will eventually give it all back, normally by moving up limits too quickly or playing too many expensive tournies.

gl, d.

Imposter

breadmonkey wrote:

So, as per title, who the fizzle is losing all of their money??

These guys

Lafortezza

The vast majority of players will fudge their numbers when someone asks "How's the poker going, you up or down".
Big losers are 'down a touch lately', consistant losers are 'breaking even', break even are 'grinding a reasonable profit', and so on. It's just the psychology of not wanting to seem like a bad player when someone asks.

jtsuited

the answer to the question is.......most people!

Imposter

Imposter wrote:

These guys

That sounds like a challenge mofo!!
Next time I'm in Venice, Australia, I'm gonna kick yo A$$!!!
Fo' shizzle

NickyOD

breadmonkey wrote:

I've only been into poker for 3 months or so and I've never played in any real events, only home games and once or twice in college.

BUT:

I know a couple of lads who play "seriously". One of them is up €3000 over the summer, the other guy up a few hundred. There always seem to be a lot of threads here discussing "how much do you make a night on average" and things like that.

So, as per title, who the fizzle is losing all of their money??

About 10% of poker players make money from poker. Of that 10% most are static most of the time and have the occasional win. Only exceptional players make serious money from poker on a regular basis. As for the other most of them lie, and not just little white lies either. I know one particular guy who told me he bought a car from what he made from poker over the summer. Turns out he can't even drive.

NickyOD

Lex wrote:

They're called "contributors" or "fish" - people playing levels above what they should be playing (I'm sometimes one of them!! )

hehehe. little fishy.

Lex

I said sometimes!
My biggest to date was last nightss $5 2k gar on Ladbrokes...took it down for $615!!!

NickyOD

Lex wrote:

I said sometimes!
My biggest to date was last nightss $5 2k gar on Ladbrokes...took it down for $615!!!

ouuuu! Nice.

5starpool

amazing how many bad players there are that consistently play and seem not to get better. One kiwi sounding fella, heavy set with a beard, that plays in the fitz being one example I can think of. In a satellite last night for the 250 game he called a bet of 300 on a board of A73 rainbow holding J6 off. he only had the 1500 starting chips. Of course he hit a jack to win it. I wasnt in the hand.

Personally I'm up well over the last 5 months (compensating for losses before then). Been to a bank machine once in 3 months now, which is nice.

Einstein

Papa Smut wrote:

That sounds like a challenge mofo!!
Next time I'm in Venice, Australia, I'm gonna kick yo A$$!!!
Fo' shizzle

....yeah....FOS unite!

Pow!

*ahem*

allin-king

95% of gamblers are losers the other 5% are liars

Most people are well down but will never admit it!!!

Doc Farrell

NickyOD wrote:

About 10% of poker players make money from poker. Of that 10% most are static most of the time and have the occasional win. Only exceptional players make serious money from poker on a regular basis. As for the other most of them lie, and not just little white lies either. I know one particular guy who told me he bought a car from what he made from poker over the summer. Turns out he can't even drive.

actually i did buy my first (and still only) car from my profits but then it did only cost 700e. But the insurance man, the insurance! oh the humanity!

forget poker, the con artists and ripoff merchants are selling insurance!

NickyOD

Doc Farrell wrote:

actually i did buy my first (and still only) car from my profits but then it did only cost 700e. But the insurance man, the insurance! oh the humanity!

forget poker, the con artists and ripoff merchants are selling insurance!

oh oh! Don't let BP! here you say that.

DeVore

I find I often subtract the amount I *would* have spent on such entertainment from my losses and that buffer can swing it in my favour. Last year was a great year for me and I was up about 3-5k on the year. This year the fields have been much bigger, I've played less and imho I've played worse and I havent done as well. I'm up 800 online for the year and maybe a grand if that offline. Thats not good but as I said I've played feck all this year so I'm not too concerned. The vast majority of players are down gross but many I'm sure factor in "leisure expenditure" and come out with a small profit.


DeV.

Rnger

I'm sure my dad is. He plays online often enough and dosent know what the odds are of you hitting a flush if you got a 4 flush on the flop, amongst other things...

kincsem

lafortezza wrote:

The vast majority of players will fudge their numbers when someone asks "How's the poker going, you up or down".
Big losers are 'down a touch lately', consistant losers are 'breaking even', break even are 'grinding a reasonable profit', and so on. It's just the psychology of not wanting to seem like a bad player when someone asks.

Agree with your comments. A lot of fudging.

I kept a notebook for 18 months and made about about 300, and that was hard work.

ocallagh

I play on one site 99% of the time, so it is easy to see how much i have deposited/withdrawn from my Credit Card.
Since April, when I registered on the site i am doing well but my problem is money management outside poker.... it is absolutely shocking. I shudder to think what I have spent in the last 6 months on absolute crap....Poker has killed any regard I used to have for money. B4 poker arrived I would happily spend my salary and even manage to save some... If I had to survive on my salary now I'd be in trouble

NickyOD

I don't keep very good records to be honest. The only thing I really use is pokertracker for cash games which in 2005 has made me about 8K so far so its been a great year. I was down money from live poker for the first 6 months but since then I've either won or split about 6 tournaments, so I think overall from poker I've reached 5 figures for the year minus any travel expenses and tips. I set a goal for myself to have a certain amount in the bank and a certain amount online before I would consider having a go at playing full time and I've reached that but I've worked where I am for over 5 years and the governemnt still owe me a fortune in benchmarking money which I can't get if I leave so its not an easy decision just at the moment.

kincsem

Ok, I'll admit it. I'm losing all the money. I even lasted 45 minutes in the Fitz last night (€270 game). What a player. Next month I might just post the money to them and stay at home.

Just got AA on PokersStars and was reraised

Doc Farrell

NickyOD wrote:

I don't keep very good records to be honest. The only thing I really use is pokertracker for cash games which in 2005 has made me about 8K so far so its been a great year. I was down money from live poker for the first 6 months but since then I've either won or split about 6 tournaments, so I think overall from poker I've reached 5 figures for the year minus any travel expenses and tips. I set a goal for myself to have a certain amount in the bank and a certain amount online before I would consider having a go at playing full time and I've reached that but I've worked where I am for over 5 years and the governemnt still owe me a fortune in benchmarking money which I can't get if I leave so its not an easy decision just at the moment.

U know by now what grinding is like. its no life. wait till u win a big tourney live, and i mean a monster like the EPT 4000. otherwise....well, the day job has to be really ****ty to consider it worse than grinding.

thats my plan stan anyway.

NickyOD

Doc Farrell wrote:

U know by now what grinding is like. its no life. wait till u win a big tourney live, and i mean a monster like the EPT 4000. otherwise....well, the day job has to be really ****ty to consider it worse than grinding.

thats my plan stan anyway.

Well something will have to give. Between my full time job and poker I don't have time for much else.

DubTony

New Life

€25 a week on low buy in MTT's and STT's.

Winnings ... Shag All

---

Old Life

3 nights a week in pub .... €80
1 Night a week Cinema ... €40
1 Night a week Bowling... €30
Total ........................... €150
Winnings .... Shag All

New Life vs. old Life .... +EV €125

Nappies €15
Baby food €15
Baby Clothes €20
Doctor Bills €10
Medicines €5
4 Door Car (instead of nice sporty coupe) €120
Cost of wife shopping while buying baby stuff €100 :mad:

New Life vs. old life .... - €135



I'm losing all the money !!!!!

RMcG

For every dollar won in poker there is a dollar lost. So you could argue that all wins cancel out all losses and therefore nobody on average makes a loss or a profit. On average everyone is evens. Hmmmmmmm. Baffling.

Tackle

On average everybody is down and the casino's/poker sites are up.

ButtermilkJack

NickyOD wrote:

...but I've worked where I am for over 5 years and the governemnt still owe me a fortune in benchmarking money which I can't get if I leave so its not an easy decision just at the moment.

This just gave me a thought! I was wondering how many people here have actually gave up work to earn a salary from poker, online or offline. Has it worked out for anyone. What kind of winnings would you be looking for to call it full-time? Any thoughts...

NickyOD

ButtermilkJack wrote:

This just gave me a thought! I was wondering how many people here have actually gave up work to earn a salary from poker, online or offline. Has it worked out for anyone. What kind of winnings would you be looking for to call it full-time? Any thoughts...

I think if you don't make at the very least more than the average national wage playing poker putting in a normal 35-40 hours a week then its its not worth your while. There are a lot of negatives, namely isolation and stress from the swings. When I play full time I want to be able to have plenty of free time to socialise and go to the gym and actually have a life. If I have to put in serious hours to grind out enough money to be financially comfortable then there's no point to it.

Mark J

DubTony wrote:

New Life

€25 a week on low buy in MTT's and STT's.

Winnings ... Shag All

---

Old Life

3 nights a week in pub .... €80
1 Night a week Cinema ... €40
1 Night a week Bowling... €30
Total ........................... €150
Winnings .... Shag All

New Life vs. old Life .... +EV €125

Nappies €15
Baby food €15
Baby Clothes €20
Doctor Bills €10
Medicines €5
4 Door Car (instead of nice sporty coupe) €120
Cost of wife shopping while buying baby stuff €100 :mad:

New Life vs. old life .... - €135



I'm losing all the money !!!!!

LMFAO!!! Very Good!

Dub13

DubTony,I feel your pain....two kids and another one on the way.And the other half does not work,she is a "kept woman" as they say.

Life is one big grind.

Ste05

Dub13 wrote:

Life is one big grind.

Never has a truer word been spoken!!! :rolleyes:

DeVore

RMcG wrote:

For every dollar won in poker there is a dollar lost. So you could argue that all wins cancel out all losses and therefore nobody on average makes a loss or a profit. On average everyone is evens. Hmmmmmmm. Baffling.

EH!?

Please tell me you are joking and that you don't actually believe that....

DeV.

DeVore

I *kinda* make a living from Poker but I dont think you could consider my situation "normal".

For all the negatives about trying to make the rent from Poker, there are significant upsides regarding the lifestyle it can afford you but honestly only about 4% of the poker population have the skill and ability to "contort" the odds sufficently to build a significant profit from their play.

I laughed at what OCallagh said because its so true. Money is such a strange object to me now, there was a time not that long ago when I'd have been shocked at my expenditures!

DeV.

NickyOD

DeVore wrote:

I laughed at what OCallagh said because its so true. Money is such a strange object to me now, there was a time not that long ago when I'd have been shocked at my expenditures!

Interesting. Does that mean when you were always guaranteed a fixed weekly income you would be much more wreckless with your money. Do you think people who make a good living from poker are less materialistic and are more understanding of the value and imprtance (or lack of it) of money?

N.

DeVore

Money is a means to living, its kinda like air, I need it to live but I don't really think about it and there always seems to be enough. Sometimes I worry about pensions and that sort of thing (or mortages) but right now I have a fun, weird life and I'm enjoying it.

When I was a salary-slave (which you have to remember was a long long time ago since I have been self employed before this) I was very very prudent with my wages and with money in general. Having my own company with 12 employees made me see the reality of money and Poker has made me view it as something very transient and ultimately not all that important. In fact I dont actually want to win for the money, that doesnt drive me (now that I think of it), I just see money as kinda like tokens in a game and you Gotta Catch Em All

This may well be a transient period of my life (I was certainly making a LOT more money as a contractor... though a lot LESS money as my own boss!). Who knows?

Right now I'm writing this from the Hilton in London as we attack the minibar after a night on the town. Do I get to factor that into my winnings? How will we value the night I spent last night on the town with a bunch of singular characters? Curious questions though I will admit my situation is not that of a regular pro.

DeV.

Doc Farrell

so i think it's more than fair to say that DubTony is the only decent human being on this site. all the rest of you, especially Devore (including me) are a bunch of wasters!

3 cheers for DubTony! i don't envy you ur nappy bill but I do envy you having someone other than urself to be selfish about.

now, i'm off to the freezeout.

Doc Farrell

oops, and Dub13 too.

must be something in the Dublin water.