Money

Posted 9 years ago

As the great modern philosopher 50 Cent once wrote, "Whoever said money shouldn’t change you just didn’t make enough.”

If I were a college professor teaching an Intro to Pokerology course, I would turn this quote into an essay question. 'Discuss with regards to BRM, moving up stakes, and variance.'
CycleVancouver

Last Post 9 years ago by

CycleVancouver

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Posted 9 years ago
I always had a bad relationship with money, in the sense that I valued it too much.

Instead of moving up, I always cashed out for 'life stuff', when really it was an excuse because I was scared of losing it. On one side you could say it was smart, but I was better than the average reg back in 2011 and if I re-invested in myself I for sure would have made more money.

The more I think about BRM the more I think you should take an aggressive apporach, what I made at a week in the micros I'd make in a few hours at 100nl+.

However, I'm not sure the YOLO BRM strategy would work in today's game.


Posted 9 years ago
Really interesting one. I value money but do spunk it at a pretty high rate. However i believe what i spend my money on is things which i need, want, make me happy and make my family happy. I also know i earn well enough to keep it up and do have money for the future. Its a tough balance but like anyone we can do much better and have all made tons of mistakes when younger as we just didn't plan well enough.

BRM wise I have always had 50+ buy ins for the games I played and don't really have many regrets and don't think i missed any big shots or anything!
Posted 9 years ago*
Harvie: I always had a bad relationship with money, in the sense that I valued it too much.

Instead of moving up, I always cashed out for 'life stuff', when really it was an excuse because I was scared of losing it.


This was my experience for the first few years of recreational poker. Lots of cashouts but always grinding micros.

I think I stumbled on the quote at a good time for me, as Jan saw my have my first cash game losing month in almost a year. While the amount I lost in poker terms (6.5BI) is almost trivial in the poker world, IRL terms, I think, damn I coulda gone on a vacation with it. Instead a 3barrel semibluff with AKs seemed like a good idea. Wink I know that to continue to grow as a poker player I need to be comfortable with losses and/or extended losing streaks, so I try to view every setback as a growth opportunity. I just wish growth wasn't so darn expensive.

I think the next thing for me is to challenge myself to willingly spend X amount of dollars on sattys into a semi-major live event. WSOP has returned to Canada and my site is running sattys every week, so I know I should just say, "OK here's $300 just for that, and if you lose it, whatever," but man I hate saying goodbye to my children like that.

5 years ago I doubt I even dreamed of having this much money I'd be willing to lose at poker, but that's kinda the point of the quote. I actually DO want the money to change me in some ways, mostly around risk tolerance, also around spending money on things that will be +Happy or +Healthy.
Posted 9 years ago
Drink a few beers then do it, you won't feel as bad until the following morning. Rolling on the floor laughing

Or check out the PokerVIP marketplace to sell a % of your statty buy-in, perhaps that's the right way to do it?
Posted 9 years ago
Harvie: Drink a few beers then do it, you won't feel as bad until the following morning. Rolling on the floor laughing

Or check out the PokerVIP marketplace to sell a % of your statty buy-in, perhaps that's the right way to do it?


If I bink my way in, I could post in the Marketplace, just for fun railing opportunity (not that it'll be televised live anyway, and IDK if Sexton and Vince are at this one for TV). The package is something like $1700 ticket +1300 for expenses, so selling for the satty doesn't really work, since almost half of the win is not going to the BI. I figure if I get in, I will sell a wee bit to my poker buddies. I don't want to sell satty pieces to them since only a couple of the guys I play with know just how much I play online, no need to scare them. Plus they kinda fund me anyway, indirectly. Wink

And man I don't need encouragement for drinking. Kinda proud of myself for not giving in tonight and grinding instead. Tomorrow's the Stupor Bowl, so I'll get my fill. Picked up a new one called Java the Hutt, it's a Coffee Stout.