Poker Update
Aug. 15th, 2005 02:59 pmI started with $50 on PokerStars, and after a month of playing single table tournaments, my balance is $202.79. I also have $29 in bonus money at a different site. Not sure what I will play with said bonus funds, maybe no-limit ring games for a change of pace. I can't withdraw the bonus money until I play 500 or 1000 hands (something like that), but the entirety of that $29 is free money, so nothing lost no matter what.
So far I have played about 70 single table SnG No Limit Hold'em tournaments at PokerStars. 36 of the games have been $5.50 buy-ins, and the other 34 were $6.50 buy-in.
I have been slack with my record keeping over the past two weeks, which means at some point I need to sit down for about an hour and download all of my tournament and hand histories, and then save them into my database. I think I am ending in the money (top 3 places pay out of 9 players) about half the time. I would guess 45%. I spent $419 to play in those 70 tournaments, and earned roughly $150, so my ROI is about 35.8% which is stupendously high. I expect to even out after a few hundred tournaments at a 25% ROI, which means that when I invest $6.50 to play, I expect to earn an average of $1.63 (6.5 x .25).
That means I make $3 or $4 per hour playing two tables at a time. Chump change, but after a year or so I should have a large enough bankroll to play the $27 tournaments, and even with an ROI of only 20%, I would be earning $5.4 per game. If I play 4 tables at the same time, and my games average 40 minutes (which they do), I would be making $32.40 an hour. Not bad for a hobby.
Of course, variance may kick me in the teeth, but that's life.
J
So far I have played about 70 single table SnG No Limit Hold'em tournaments at PokerStars. 36 of the games have been $5.50 buy-ins, and the other 34 were $6.50 buy-in.
I have been slack with my record keeping over the past two weeks, which means at some point I need to sit down for about an hour and download all of my tournament and hand histories, and then save them into my database. I think I am ending in the money (top 3 places pay out of 9 players) about half the time. I would guess 45%. I spent $419 to play in those 70 tournaments, and earned roughly $150, so my ROI is about 35.8% which is stupendously high. I expect to even out after a few hundred tournaments at a 25% ROI, which means that when I invest $6.50 to play, I expect to earn an average of $1.63 (6.5 x .25).
That means I make $3 or $4 per hour playing two tables at a time. Chump change, but after a year or so I should have a large enough bankroll to play the $27 tournaments, and even with an ROI of only 20%, I would be earning $5.4 per game. If I play 4 tables at the same time, and my games average 40 minutes (which they do), I would be making $32.40 an hour. Not bad for a hobby.
Of course, variance may kick me in the teeth, but that's life.
J