Las Vegas Poker Player Vlogs

Yeah I don't think we are disagreeing with each other we just categorise it differently. For someone who plays poker for a living, what they do with that money all comes under the umbrella of bankroll management. That includes a lot of general life leak stuff as well, the 2 things are not mutually exclusive.

serious question for the bankroll people

what would you suggest i do?

For a professional gambler their ability to continue making money is dependant on what they do with their winnings. This is not the case for a regular worker earning a salary.

If a professional gambler always spends all their winnings and never gives a thought to growing their bankroll then they will eventually go broke, even if they are the world's best gambler. How they manage their money is paramount to their long term success as a gambler.

Diesel is just being stupid, just because he keeps his liferoll and bankroll together doesn't mean he doesn't have a bankroll.

He is good with his money and he would never play a game he's not rolled for. He has low 6 figures in his portfolio which he would never touch. I have a feeling he keeps around 1 year of expenses and around 20-30 buyins in his main account and whenever it goes higher than that he socks it away into his portfolio.

He probably has around 20-30k in his main account so he's never really at risk of going broke but he loves money so it pains him when he goes on a downswing so that's he plays such a low variance style and makes a low hourly.

It's silly to say he's broke because he's clearly not. I mean he just worked a dealer job where he worked alot of OT, he doesn't have soending leaks, he doesn't drink or do drugs, he definitely has money.

He's just a cheapskate with an aversion to spending.

There are people with millions of dollars in their bank accounts that act just as cheap as Diesel, it has nothing to do with how much money they have.

But that's true for how they manage money in general. A good poker player who has been playing a while is never going broke if they're good with money.

Maybe if you suck with money and can never think past next week it makes sense to have a segregated bank roll but it seems silly to me otherwise once you've built up your net worth a bit.

That 40k I mentioned is my worst down swing I've had live in almost a decade. If I put aside 50k 75k or even 100k to be safe for poker it's not like I'm just gonna blow anything else on top of that.

So segregating isn't accomplishing anything.

most important thing for a full time player is to actually be a winning player and be able to play their A/B game even with increased volume.

Every pro pretty much needs 6 months ish of their monthly expenses + enough of a roll to sustain a 20 buyin ish downswing.

That should be the minimum standard imo, imo most people that don't have that is destined to go broke.

Yeah it's just semantics. When a professional gambler is "good with his money" that's called bankroll management in my book. You don't want to call it that, which is totally fine.

keep doing what you're doing if it works for you imo

bankroll is just a fancy word for another pocket in your pants if you think about it

for people with strong discipline no separation of funds is needed if you have a rough idea of what you're going to do if you lose/win x and stick to it; while a player with degen tendencies is a big favorite to go busto regardless of whether he started out with two bank accounts or one

I'm sure there's some subset of people who are better off keeping everything separate, but it likely a minority of professional poker players

I'll add the younger you and the lower you're playing the lower this number can be. A 23 year old trying to go pro with 10k to play 2/5 who goes broke in a a few months isn't in a horrible situation. He can still get a job pretty easily and 10k is easy enough to replenish.

If someone is playing 25/50 and only has 200k, buying in 10k at a time who has a 15 year resume gap and dusts those 20 buy ins- well that's way harder to replenish and how well is he gonna play miserable starting from the bottom again?

Diesel "works" 9 months out of the year and makes $8 an hour. He does not have money.

I think that's more life financial management but I agree it is semantics. I just never had a segregated poker bank roll after my first 2-3 years of playing but I bet I managed my money better than 99 percent of people who were printing money from poker at that time.

I'm also pretty sure H&R has a business as well as being a profitable player. No reason his money can't all just be in one bucket and he plays what he wants to play. He's not in danger of going broke.

He also has 1/3 of the expenses as most normal people with a mortgage, utilities, car payments, etc.

He also just worked 3 months full time taking as much OT as he could get.

He also has a youtube channel that makes a few hundred a month.

I disagree that he's broke.

bump

what's your definition of broke?

he definitely wouldn't be able to afford to pay for his car and health insurance that his parents cover (could be some other things as well)

is pman not broke bc his daddy pays for all of his expenses? you can certainly make that case

Broke is having no money, pman has housing and general expenses paid for by his dad but he has no money to play poker.

So I consider him broke, he would be homeless if it wasn't for his dad. But obviously he is very priviledged compared to most, which imo makes him even more of a **** up.

Diesel lives like a homeless person but has plenty of money, he's not broke, he can play as much poker as he wants, smoke as many cheap cigars as he wants, eat as many slices of gas station pizza that he wants.

I think it's relative to your lifestyle. Of course if Diesel had normal expenses then he wouldn't be able to sustain it with his current life but he has a very simple life with simple expenses and that will probably not change anytime soon.

he's homeless, eats crap, can't take care of his physical well-being, bums off everyone he knows, escapes anytime weekend rates are high...

he hasn't been profitable in poker for a couple years now

his expenses are low because he's broke

What's your guess of his current liferoll/bankroll?

.

my suggestion is to keep a seperate account for living expenses, poker, sports betting, investing and then...

shove it up your butt!

Think Blue reports that Uber drivers in Los Angeles are legallly mandated to earn $18 per hour plus 34 cents per mile which is why he does not Uber in Las Vegas.

thinkblue is a good dude, i like watching his vlogs

but he definitely busto and not that good at poker

I dont know how old he is but 35 seems like a decent assumption.

$25k in bar mitzvah money in 2002 is about $230k today if invested in S&P 500 and reinvest the dividends. I make the market on his net worth $165,000 - $250,000.

ELD's youtube channel can pay for his housing so hopefully ELD has a paid off car and no needing any repairs otherwise he will have to use his dealer money.

Before Rice dealt poker at the Orleans for the summer, I'm guessing his liferoll/pokerroll was below $5K, that's not counting his six figure investment roll, of course.