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Author: [Las Vegas] Topic: $2,700.00 Vegas Bankroll
Jayvegas420
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#1
Posted: 5/23/2013 4:17:41 PM
I posed this question in a different forum a while ago.
Since Covers has a forum dedicated to "Las Vegas" I thought I'd ask it here.
How can you last in Vegas with a $2,700.00 bankroll?
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#2
Posted: 5/23/2013 4:25:00 PM
For a weekend trip or to stay in LV and gamble for a living?

If it's a weekend trip, you'll be fine.

If you're trying to make a living with a $2700 bankroll, my suggestion would be to get a real job.  Can't make near enough money to consistently pay bills or handle the swings.  Decent bankroll management is 2-5% per bet depending on who you talk to.  That means you need to win a ton of $100 bets.
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#3
Posted: 5/23/2013 9:23:56 PM
How are you going to eat, where are you going to live??
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Jayvegas420
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#4
Posted: 5/24/2013 10:10:53 PM
Off the strip suites & apartments for maybe $130 weekly.
Then no Bills to worry about.
Fully furnished with fridge & stove you can spend $20--$25 weekly on groceries.
2%-5% of what's left would be a daily stake of $50-$60.
Sports bet, maybe poker stake?

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#5
Posted: 5/25/2013 2:04:21 PM
QUOTE Originally Posted by Jayvegas420:

Off the strip suites & apartments for maybe $130 weekly.
Then no Bills to worry about.
Fully furnished with fridge & stove you can spend $20--$25 weekly on groceries.
2%-5% of what's left would be a daily stake of $50-$60.
Sports bet, maybe poker stake?

They guy in your pic looks homeless.  That will be you after 10 days in Vegas with this plan.
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#6
Posted: 5/25/2013 9:20:09 PM
I was fortunate to stay a month in Vegas this past March rent free at a friends condo while he and his wife were in Florida. The only expenses I had were mainly food and gambling. I mainly bet the NCAA tourney and played some 1-2 No Limit Poker.

I will give you a month because you will have more expenses than me. That is not enough bankroll to go through a cold spell which all gamblers will face. How much do you play per wager? 50-60 a day gambling is not much.  And 25 a week for groceries will not get you much. I allotted myself between 200-400 a day for expenses and gambling. 

Winning and living in Vegas is a 24 hour a day grind.



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#7
Posted: 5/26/2013 4:55:01 AM
Only way I would do it is with 100k. $2700 not a chance
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#8
Posted: 5/26/2013 2:57:10 PM
QUOTE Originally Posted by Bling:

They guy in your pic looks homeless.  That will be you after 10 days in Vegas with this plan.
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#9
Posted: 5/26/2013 10:34:17 PM

Jay you're severely under-capitalized right now, but that can change.

You've got your weekly nut down to bare bones and that is well done on your part. But you can't play with such a short stack in either sports or poker, the 2 best ways to make quick profits in gambling. $60 bets are not gonna cut it with a $700/month nut.

You'll have to consider your $2700 as your gambling bankroll, and I don't even think you can consider dividing it into separate BR's for sports and poker. If you can start off in sports by being very selective, your Kelly BR% could start off at 20%. This is the absolute max any superb sports bettor should ever risk on 1 straight bet. If you can hit right off the bat at 7-3 or 8-2, you could stay at the 20% level (about $550) for another few plays. The 1st time you lose 2 back-to-back you should immediately revert from this $550 flat bet to 15% BR regular Kelly wagering (resize to 15% BR after every bet). The 1st week I would try $150 short poker sessions only after a winning sports day. Remember every week you will have another losing session called rent-and-food.

The idea is to jack your BR up quickly in the 1st 2 or 3 weeks to a more realistic level. Then you can bring the Kelly % down gradually to a more realistic % when you start getting hit with more losses. With your small BR you should prolly try to keep betting at least 7% BR in the next few months. You may reach points where you will have to establish a minimum flat bet of say $300 to stay solvent.

If you lose your 1st 3 or 4 wagers you prolly lookin for a job anyway, so don't back off your Kelly. Good luck and let us know if you need more ideas. 

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#10
Posted: 5/27/2013 9:14:23 AM
Here's your problem with some of those suggestions, though.  Even if you hit $700/month, what happens when you get the flu and can't bet for 2 days or you have car problems or doctor bills or need to contribute to an IRA, pet needs to go to the vet, you need to come home and visit a dying relative, etc etc. 

Those are just a small list of a wide variety of things that are no longer available given the size of that bankroll and things that would wipe out a good chunk of the bankroll, even if things are going extremely well.
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#11
Posted: 5/27/2013 1:50:15 PM

I will be watching this system very close.................gl......

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#12
Posted: 5/27/2013 5:25:21 PM
QUOTE Originally Posted by marcbryanjacob:

Jay you're severely under-capitalized right now, but that can change.

You've got your weekly nut down to bare bones and that is well done on your part. But you can't play with such a short stack in either sports or poker, the 2 best ways to make quick profits in gambling. $60 bets are not gonna cut it with a $700/month nut.

You'll have to consider your $2700 as your gambling bankroll, and I don't even think you can consider dividing it into separate BR's for sports and poker. If you can start off in sports by being very selective, your Kelly BR% could start off at 20%. This is the absolute max any superb sports bettor should ever risk on 1 straight bet. If you can hit right off the bat at 7-3 or 8-2, you could stay at the 20% level (about $550) for another few plays. The 1st time you lose 2 back-to-back you should immediately revert from this $550 flat bet to 15% BR regular Kelly wagering (resize to 15% BR after every bet). The 1st week I would try $150 short poker sessions only after a winning sports day. Remember every week you will have another losing session called rent-and-food.

The idea is to jack your BR up quickly in the 1st 2 or 3 weeks to a more realistic level. Then you can bring the Kelly % down gradually to a more realistic % when you start getting hit with more losses. With your small BR you should prolly try to keep betting at least 7% BR in the next few months. You may reach points where you will have to establish a minimum flat bet of say $300 to stay solvent.

If you lose your 1st 3 or 4 wagers you prolly lookin for a job anyway, so don't back off your Kelly. Good luck and let us know if you need more ideas. 


I think that's a sound money management strategy.
The $2,700 would be after flight & cabs.
15% of that is $105.
I need to make $22.50 per day to have my $700 at the end of the month.
Picking at %58 - %57 would be a good start & playing the lowest limit poker, like a $2-$6 flex game & beating the game %50-%51, would get there monthly.

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#13
Posted: 5/27/2013 5:26:00 PM
QUOTE Originally Posted by Jayvegas420:


I think that's a sound money management strategy.
The $2,700 would be after flight & cabs.
15% of that is $105.
I need to make $22.50 per day to have my $700 at the end of the month.
Picking at %58 - %57 would be a good start & playing the lowest limit poker, like a $2-$6 flex game & beating the game %50-%51, would get me there monthly.

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#14
Posted: 5/28/2013 2:46:22 PM
Regards 2-6$ flex poker: You won't be the only one at the table playing to cover his nut. If you ain't the shark you're the fish.
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#15
Posted: 5/29/2013 6:20:01 AM
QUOTE Originally Posted by Jayvegas420:


I think that's a sound money management strategy.
The $2,700 would be after flight & cabs.
15% of that is $105.
I need to make $22.50 per day to have my $700 at the end of the month.
Picking at %58 - %57 would be a good start & playing the lowest limit poker, like a $2-$6 flex game & beating the game %50-%51, would get there monthly.


This'll never get you anywhere besides St. Vincent's.  Do you really want to play a low-stakes game against grinders, both of the professional and non-professional variety?  Pros will know the game too well, non-pros won't gamble enough to get you any money.  The only way a poker player makes a profit is by playing against weaker players that don't mind gambling.  Wait until the weekend, hit a poker room and play $1-2, with the intention of getting up to $2-5 ASAP (rake/time is a smaller % of chips in play at $2-5).  Stay completely sober, buy in for $200 and pound on the tourists at nighttime as hard as you can.  Build your stack up to $500 and LEAVE.  You're playing for a living, so you don't need to get involved in massive pots with top 2 pair against some drunk's flush draw.  Go to a gym and work out in between sessions, and if you absolutely must keep playing go to another table or another card room altogether.  Avoid private games like the plague.  The rake is higher, the players will be stronger, and it's not as safe.  Yes, long-term you could learn the player's habits and get an advantage, but they're learning yours at the same time.   

You really shouldn't try this with such a small bankroll.  I've had friends take their shot with 5 grand and go clean in a month.  Get up between $10-20k first and then MAYBE we can talk, if you stick to just poker.  You need the bankroll not just to handle the swings, but because you just can't make enough money playing low stakes.  I've spent 6 years as a dealer, alternating between full and part-time at it, and I've seen plenty of people try.  Haven't seen any succeed yet.    
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#16
Posted: 5/29/2013 1:25:19 PM
You might be right but the luck factor is huge no matter what game you play.
I have been playing holdem since '97.
There are pros everywhere in Vegas, hard to avoid them.
I don't work out but I suppose that could be a good tact!
Dumping $1,500.00 at the WSOP is not a good idea either but, I can't seem to get it aff my mind.
I agree the BR is small but some of us can'r head to the money tree in the backyard and pick off $15,000.00!
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#17
Posted: 5/29/2013 3:09:14 PM
QUOTE Originally Posted by Jayvegas420:

You might be right but the luck factor is huge no matter what game you play.
I have been playing holdem since '97.
There are pros everywhere in Vegas, hard to avoid them.
I don't work out but I suppose that could be a good tact!
Dumping $1,500.00 at the WSOP is not a good idea either but, I can't seem to get it aff my mind.
I agree the BR is small but some of us can'r head to the money tree in the backyard and pick off $15,000.00!

I hear you about the money tree; I'd sure love one of those!  That's why I suggest working hard and saving up more first.  Yes, there is luck involved in every game, but you're working on a small roll, and if you want to make a go of it you need to increase your bankroll size quickly.  Honestly, the odds that you succeed are quite small, but you seem to understand that as well.  Would you rather suffer for 8 months and then go clean, or go clean quickly?  I'm not suggesting a WSOP visit, because the house take there is bigger and so is the variance.  The biggest advantages a cash game has over a tournament are that there's a smaller take, there's no blind pressure, and you can LEAVE when you're up.  If you buy into a tournament and build your stack from 10,000 to 30,000 you still have to sit and play.  Build your stack from 1,000 to 3,000 at a cash table and you can take that 2 grand and take care of bills for a month or so.  

If you're determined to do so, best of luck to you!  I don't root for anyone to fail ever.  Keep posting, let us know how it goes, and remember to tip your dealer!   
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#18
Posted: 6/17/2013 7:17:52 PM
QUOTE Originally Posted by Bling:

They guy in your pic looks homeless.  That will be you after 10 days in Vegas with this plan.
wow, bling - but true, sadly 
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#19
Posted: 6/17/2013 9:53:22 PM
It's t o lol
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#20
Posted: 6/20/2013 4:31:24 AM
QUOTE Originally Posted by Jayvegas420:

I posed this question in a different forum a while ago.
Since Covers has a forum dedicated to "Las Vegas" I thought I'd ask it here.
How can you last in Vegas with a $2,700.00 bankroll?

On $2700, since you need money for food and shelter, you can last two or three months in Vegas if you DON'T gamble.  

But if you DO decide to gamble, you will last no more than 3 days.  Just make sure you have already paid for your plane ticket back home, or you will quickly look like the man in your avatar and be begging for handouts from the tourists.
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#21
Posted: 6/20/2013 4:27:36 PM
What if you win 2 of the 3 days?

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Jayvegas420
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#22
Posted: 6/20/2013 4:28:16 PM
And Fine, I'll change my avatar!

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#23
Posted: 6/21/2013 5:16:43 PM
irinas dad gave u best advice.  how u doing?  u crusshinnn?
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Jayvegas420
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#24
Posted: 6/21/2013 11:17:55 PM
I'm not actually in Vegas.
I was just posing the question.
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Jayvegas420
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#25
Posted: 6/21/2013 11:18:46 PM
I'm pretty sure 25 days is do-able.
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