Pages

Tuesday, April 20, 2010

I Will Turn $74.00 into $7000 By Jun 1st (06-01-2010)

The Story

I got a handful of people who doubt how much of a card hustling poker player I used to be 4 years ago. They say that they google me and can't find me in CardPlayer rankings and can't find no tournaments that I played in. They're absolutely right! They won't find me because I played in small tournaments at East Chicago Resorts (now Ameristar), Majestic Star, and the Horseshoe in Tunica. I won a few tournaments in 2006, but I did not make the majority of my money in tournaments because I felt that there was too much variance involved. You're batting 1.000 if you win 30 percent of the tournaments that you enter. Since I played live tournaments, that meant waiting between cashes for almost an entire month. Because of this, I was mostly a cash game specialist where I made the majority of my bankroll playing 2/5 and 5/10. It was hard back in those days because they didn't have 1/2 and you had $200 max for 2/5 and $500 max for 5/10. You make a raise and see a flop and bet it, and next thing you know you're pot-committed when facing a reraise. Needless to say, that was the main reason I took my game down south where casinos had no max buyin and now I can make a good lay down and wait for a better opportunity to unhinge someone's money.


The Announcement

Enough of my history, yall still don't fucking believe me, so here's what I'm going to do for the rest of this month and the month of may. I'm going to turn $74 into $7000 in less than 2 months. This won't prove that I'm the best poker player in the world.. heck I'm no longer the best poker player in Illinois --where I used to murder the Sunday cash game at the Empress (what a shitty casino). In fact, I don't believe that I'm amongst the best 300 players in the Chicago/Northwest Indiana area anymore. Its been years since I've played on a consistent basis, and I'm really squared up now. However, to put your doubts to rest, I'm going to show yall that I possess the discipline to turn $74 into $7000 by June 1st, and I will. I'm going to post an online diary of my daily account, both good and bad and you'll see how tough it is to be a professional poker player with no health or dental insurance (I finally have health insurance through my employer...yay!). I've already arranged for my employer to give me three workdays per week for the next 6 weeks beginning with this week.

The Plan

From Wednesday - Friday of each week (I'll take Saturday off), I will play 30 tables of sit n gos simultaneously 8 hours a day beginning with $1.20 buy-in sit n go tournaments and working my way up to $11 sit n go tournaments as my bankroll increases. I will mostly focus on 18-seat and 27-seat tournaments on the PokerStars.com website. The reason for this is because I did a trial run last week when I practically broke even playing sit n gos trying to figure out the best method for me to go. I finally hit a small profit Saturday by playing a combination of 18 seat, 27 seat, and 45 seat tables as I played 20 tables at a time for 3 hours. After cashing in 6 tournaments, giving away money with dumb moves in 3, and getting eliminated in 1 tournament on a bad beat (I had a pocket aces, and pocket kings drew out on me for a set to eliminate me early --it happens) I won 30% of my tournaments with all my wins coming in the 18 seat and 27 seat tournaments. I did not cash in one 45 seater. Saturday was when I realized that the reason I was breaking even all week is because I was playing too many 45 seat tournaments and cashing in few of them. So I decided to eliminate them altogether, especially with their only being 18 and 27 seat sit n gos available in the bigger buy ins.

The Diagram

As I previously stated, I will play 30 tables of sit n gos simultaneously 8 hours a day beginning with $1.20 buy-in sit n go tournaments and working my way up to $11 sit n go tournaments as my bankroll increases. I will mostly focus on 18-seat and 27-seat tournaments on the PokerStars.com website. Here's a shitty "chart" of how I plan to grow my bankroll over a period of time.

Bankroll Sit n Go buy-in

$74.00 = $1.20 sit n gos
$340.00 = $3.40 sit n gos
$550.00 = $5.50 sit n gos
$1100.00 = $11.00 sit n gos until my bankroll is $7,000


Right now my bankroll is $74 (self-imposed) so I'm going to only play $1.20 sit n goes since I have approximately 60 buy-ins. When I move up in buy ins, I want to have 100x the buy-in amount to lessen my chances of going broke --which is why I'm playing $3.40 sit n gos when my bankroll hits $340.00. If I get down 50 buy-ins I will drop down to a cheaper sit n gos to build back up. Of course, I feel comfortable enough to play at only 60 buy-ins in the $1.20 tournaments because of the amount of bad players at that level. I will play no higher than $11 sit n gos once my bankroll is $1100, and I'll play at that level until my bankroll reaches $7000. I estimate that in playing 30 tables at a time all day that I will play 180 sit n gos a day. Yup, I'm hustlin!

Why?

Three reasons:


1) To prove to my doubters that I was a professional poker player and that I still have the skills to make money. Rashidah Qadirah Horace said that I was nothing more than a "fantasy poker player" who can't sell books on a mutual friend's status update.

2) I was inspired by Boku turning his $100 into $10000 in 15 days. I have so much respect for his feat that I will never try to beat his accomplishment. He shared how he accomplished his near impossible feat and realized that I can do it by multitabling as many as 20 tables at a time. I know I can handle 30 at one time.

3) I want to buy a rental property by September of this year. One young lady tried to insinuate that I'm not the king of my castle because I'm living with my mom in a big ass house in the suburbs taking care of things she needs. If you need details on what I'm referring to just read my blogs from last month. Anyway, even when I buy my building I'm still going to be living with my mom. Sidebar: any woman who marries me will have to be comfortable with living down the street from my mom.


For those of you who are in a cash bind and thinking about doing the same thing I'm doing... DON'T! It takes months - years learning the game of poker through playing to be able to play the game at a profitable level. When I first started playing poker I lost thousands of dollars before I got to the point where I won thousands of dollars. At the same time, I started playing when I was 22 years old too. I'm 29 right now, so do the math. If you wanna start playing poker, deposit $100 online and play $1.20 sit n gos and learn how to play one table at a time. If you're learning anything at all, you should break even after you've played about 1000 sit n gos before you start making money.

And for those who are concerned, yes, I will pay taxes on this money next year.