S
SolaRoe
Enthusiast
Silver Level
Okay, my cold streak seems to be turning around, and I'm starting to believe that variance is real and I'm not merely cursed to lose all my life. So now I'm starting to think about what it would take for me to, maybe, someday, be profitable. I am not prepared to sacrifice entertainment value and my enjoyment of the game for the sake of merely breaking even or making piddly pennies in profit; the profit has to have some minimal meaning and make at least some minor difference to my life in order for me to agree to be more serious about poker and not just in it purely for the fun of losing. The bottom limit for me would be a cashout of $100 per month, as well as profit of $100 per month that stays in my bankroll in order to keep building it, so I'd be aiming, as an initial goal, to make a profit of $200 per month on poker.
Since I'm already comfortable four-tabling six times a day for a total of 24 STTs per day (it takes only about three hours of total playing time) and am comfortable playing every single day until fatigue forces me to take a break, my calculation is that I'd need to make an average of between 50 and 55 cents profit per tourney--every single tourney I play, including the ones I don't finish ITM in--in order to meet this financial goal. So far my ITM rate at the $3 party poker 10-man STTs has been about 25%, but I've also had about 25% bubble finishes in 4th or 5th place, so with a little improvement on the bubble rate and a slight skew toward 1st place finishes as opposed to 2nds and 3rds, it's doable.
What I really need to know is what limit I should set my sights on. To figure that out, I need to know the kinds of ROIs and ITM rates that profitable players typically have at the various limits. Does anyone want to help out?
EDIT: Okay, so my math was messed up. Assuming six days a week or 24 days a month at 24 STTs per day, that's 576 STTs per month, so I'd need 34.72 cents average profit per every one of those 576 STTs in order to meet my goal. What kind of ROI and ITM rates would that require at what limits?
Since I'm already comfortable four-tabling six times a day for a total of 24 STTs per day (it takes only about three hours of total playing time) and am comfortable playing every single day until fatigue forces me to take a break, my calculation is that I'd need to make an average of between 50 and 55 cents profit per tourney--every single tourney I play, including the ones I don't finish ITM in--in order to meet this financial goal. So far my ITM rate at the $3 party poker 10-man STTs has been about 25%, but I've also had about 25% bubble finishes in 4th or 5th place, so with a little improvement on the bubble rate and a slight skew toward 1st place finishes as opposed to 2nds and 3rds, it's doable.
What I really need to know is what limit I should set my sights on. To figure that out, I need to know the kinds of ROIs and ITM rates that profitable players typically have at the various limits. Does anyone want to help out?
EDIT: Okay, so my math was messed up. Assuming six days a week or 24 days a month at 24 STTs per day, that's 576 STTs per month, so I'd need 34.72 cents average profit per every one of those 576 STTs in order to meet my goal. What kind of ROI and ITM rates would that require at what limits?
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