Leaks
Lately I have been putting some time into playing games including a bit of online poker.
There is a term in poker called leaks. A leak is a weakness in a person's game whereby they lose money over time. In poker, it is often hard to find leaks because it is often mistruths that lead to prolonged leaks. For example, a person may have won a huge pot once playing Q3 suited and so they play this hand often. In reality that is a terrible hand and should be avoided at all costs. But with that one big win, the player is damaged until he figures it out.
Why the topic comes up is because I seem to have a penchant for spending more money than I have coming in. Thus there is a leak or multiple leaks in my lifestyle and spending patterns.
What am I doing to rectify the situation? Spending money of course! But now with Quicken, I am watching where I spend it a bit more closely and I have cancelled most of my recurring monthly spending and am thinking of cancelling cable since I hardly watch tv anymore (and my favorite shows I torrent anyway).
Real time update...
Wowsers, just finished my first multi table poker tournament online. $5 buy-in + $1 fee, 3 tables (30 people), first five place:
(1)$47.5
(2)$40
(3)$30
(4)$18.5
(5)$15
I was the early chip leader at my table and the chip leader of the tournament with about 25 people left but when the final table started (total 8 people), I was in the middle with about $3000 and the two chip leaders had around $10,000.
I played tight, stole a couple pots, and made my way to the final 3. We were all within 2 or 3 thousand chips of each other so it was a good game. I ended up coming in 3rd. Went all in after the flop on 4-6 suited with 4-9-10 on the board and the other guy had K-3 offsuit. The K came on the turn and the 10 did nothing but rub it in on the river and busted me. Oh well, live by the sword, die by the sword.
$30 for $6, not bad work.
So that is three online tournaments, won once ($50, 4.5x return), placed 3rd ($30, 5x return), and placed 4th (1 out of the money, 0x return). So have paid $28 and won $80. Not too bad for about 5 hours work.
I think I will keep my day job though.
There is a term in poker called leaks. A leak is a weakness in a person's game whereby they lose money over time. In poker, it is often hard to find leaks because it is often mistruths that lead to prolonged leaks. For example, a person may have won a huge pot once playing Q3 suited and so they play this hand often. In reality that is a terrible hand and should be avoided at all costs. But with that one big win, the player is damaged until he figures it out.
Why the topic comes up is because I seem to have a penchant for spending more money than I have coming in. Thus there is a leak or multiple leaks in my lifestyle and spending patterns.
What am I doing to rectify the situation? Spending money of course! But now with Quicken, I am watching where I spend it a bit more closely and I have cancelled most of my recurring monthly spending and am thinking of cancelling cable since I hardly watch tv anymore (and my favorite shows I torrent anyway).
Real time update...
Wowsers, just finished my first multi table poker tournament online. $5 buy-in + $1 fee, 3 tables (30 people), first five place:
(1)$47.5
(2)$40
(3)$30
(4)$18.5
(5)$15
I was the early chip leader at my table and the chip leader of the tournament with about 25 people left but when the final table started (total 8 people), I was in the middle with about $3000 and the two chip leaders had around $10,000.
I played tight, stole a couple pots, and made my way to the final 3. We were all within 2 or 3 thousand chips of each other so it was a good game. I ended up coming in 3rd. Went all in after the flop on 4-6 suited with 4-9-10 on the board and the other guy had K-3 offsuit. The K came on the turn and the 10 did nothing but rub it in on the river and busted me. Oh well, live by the sword, die by the sword.
$30 for $6, not bad work.
So that is three online tournaments, won once ($50, 4.5x return), placed 3rd ($30, 5x return), and placed 4th (1 out of the money, 0x return). So have paid $28 and won $80. Not too bad for about 5 hours work.
I think I will keep my day job though.
posted by Mr. Jeffrey at
2:37 AM
1 Comments:
Good idea. I'm sure your day job pays more than $10/hr.
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