Live bankroll advice

  • Thread starter JackleOfCrackle
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JackleOfCrackle

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Hello CC,
I am looking for some advice. Basically, I played poker fairly seriously for around 4 years but stopped around 2 years ago. I didnt go broke or anything like that, just lost time for the game and slowly just stopped playing at any volume. I am Australian so online poker has become a bit of a hassle for me as I dont really want to use criptocurrency for sites as I have no idea what I am doing in that area.
I enjoy live poker more than online anyways, I find it more entertaining and engaging. I am really just wondering what a minimum bankroll would be to play the 1/3 at Crown comfortably. I know proper bankroll management but feel 20 BIs will take me a long long time to save up and I would prefer to keep poker roll completely separate from life.
Just want to hear some advice/stories of how people have gone on smaller rolls and how to manage smaller rolls to not let variance crush us early if we run bad.

Thanks and happy to posting again on CC
 
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JackleOfCrackle

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Also!
any advice from another Australian or anyone who knows anything about playing online still without having to do all the criptocurrency stuff would be amazing as I miss online a lot (and I could actually be rolled properly for online..)
 
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AlexTheOwl

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The best players in the world can play thousands of hands and come out a loser. If you play long enough you will eventually go on a downswing.

BRM is about minimizing the chances of losing all the money that you have available to play poker, which is extremely important if poker is part of your livelihood.

But almost everyone spends some money on entertainment. Taking some money out of your entertainment budget to play poker is a fine thing to do.

Don't worry about bankroll until you have a bankroll to worry about. Just play the lowest stakes games you can find.
Do worry about losing more than you can afford.

I started playing live before online poker existed. I didn't have a proper bankroll. Eventually I got better at the game and built a bankroll. I practice proper BRM now, but I didn't have that option at the beginning. I had about $400 a month to spare. I lost it all a few times, and then tried again the next month.

I don't really know much about bitcoin, but I've been using it for a few years on ACR and ignition, and if you are smart enough to win at poker you are smart enough to use bitcoin for deposits and withdrawals.

I'm not sure if it's any different for Australians or what sites are available to you, but here's more info on using it for ACR:
https://www.americascardroom.eu/bitcoin-poker/
 
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JackleOfCrackle

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Thanks for the reply,
I tried to download Ignition but software just freezes upon opening? Wont load past the loading screen so not really sure whats going on with that.
Bitcoin problem isnt so much I dont know how to use it, it just seemed like a lot of loop holes to put money on and by the time I purchase bitcoin and they take a % and than loading money onto poker site takes a % I already have lost almost 10% of the bankroll I was trying to put on the site.
Anyone know of any sites that accept aussies that isnt ignition?

I miss pokerstars :(
 
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AlexTheOwl

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The processing fees for bitcoins are annoyingly unpredictable.

In my experience, the larger your transaction, the smaller the fee is as a percentage of the transaction. I took $800 out of Ignition at the beginning of last month and the fees were less than $10. Unfortunately the fee might be just as high to deposit $50.

Ignition and ACR, the sites I use, do not take a cut from bitcoin deposits or withdrawals. But CoinBase, the wallet I use, and I think all of the other wallets, do.

Edit:

I just tried a few numbers on Coinbase for how much it would cost to buy bitcoin with my debit card. US currency:

Amount Fee
$10.00 $0.99
$50.00 $1.99
$100 $2.99

The fees to then send that bitcoin to the poker site would be similar.
 
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JackleOfCrackle

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Yeah the fees shown to me were similar but also take into account AUD to US which is around .70 at the moment so end up loosing a fair bit once conversion rates are added.
 
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AlexTheOwl

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Do you mean that you are charged a fee to convert from AUD to USD and then to bitcoin?
In a big market like Australia there must be a site that just sells bitcoin for AUD without converting to USD first?
Then once you have the bitcoin, the poker site will exchange it for USD at the prevailing rates. As noted above, ACR and Ignition do not charge a fee for this.

Or do you just mean that AUD is worth less than USD at the moment?
That fact by itself doesn't cost you anything.

In fact, if AUD weakens relative to USD between the time you deposit and the time you withdraw, you will gain.
Right now 1 USD buys 1.33 AUD, but maybe by the time you withdraw one USD will buy more AUD.
Or less, of course, I have no way of predicting it . . . but the fact that it fluctuates does not necessarily cost you money, as it can fluctuate in either direction.
 
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JackleOfCrackle

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I am charged conversion fees from AUD to US and again to bitcoin in a lot of cases. Though I admit I have not stalked the internet for a long period of time trying to find many other options.
 
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fonyas

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The main thing is not to rush, even if there is a map to serve to play to the end and wait for a good map.
 
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