Ironing out the details of what will be happening, how much of a bankroll I'll be starting with, and various other details. First off the bankroll. I'm looking at $600. I will be playing three $10 rebuys per day only to start and with $600 that starts me out with 60 buyins. That should be more than enough for tournaments that I have never seen get more than three tables and most of the time the $10 tournaments only have two tables. As of April 1st I will have the full $600 start between what my roommates owe me and money I'm putting into it on the 1st of April.
With $67 put towards that $600, I decided to try to get a jump start on things. I went to the Plaza today with the intention of playing two of the $10 tournaments, the one at 2 p.m. and 5 p.m. . The 2 p.m. had 18 entries with the top two getting paid and I finished 5th. Thr 5 p.m. had 13 players, the top two getting paid, and there was no chop and I won it outright for a $90 return. Tossed the guy at the desk a $5 tip and that $67 that I started today with is now at $132. Any profits that I make during this month will be added to the total of $600. As an exanple if I were to earn $200 at these tournaments this month it does not mean I'm only going to put $400 towards a start for a total of $600, instead I would still be putting the original $600 into this and with the $200 in earnings as an example, would be starting April with $800. I'm heading back tomorrow to play the three $10 Rebuy tournaments.
I cashed out WSOP for good. I couldn't stand playing the $1 and $2 tournaments playing for $15 for first place it was driving me insane and boring me out of my freaking skull. I also emailed Alan and told him I would no longer be playing under his stake in the cash games anymore. I played 3 times and what I can say about cash games is that to me sitting around watching paint dry has more kicks than playing in a cash game. Same hlunds all the time, pretty straight forward, to me there was no excitement to it, no ultimate competition the way a tournament has. Guess I'm just a natural born tournament player. It did not have that rush or adrenaline for me that tournaments do. I am glad to say that my final session that I did play under the stake was a $136 win so I was able to show a profit over the three sessions and did not lose any of my staker's money and in fact made him a few dollars and also thanked him very much for the opportunity.
Now lets be serious about these $10 tournaments. At a 20%-30% ROI playing 25 days a month, I'm only looking at earnings between $150-$225 a month. That's not what this is about. This is about those profits giving me the opportunity to play higher tournaments. The $65s at Mirage, the $65s and $75s at Treasure Island, and The $55s at Harrahs. These tournaments, some of which pay in excess of $500 for 1st is where the real earnings will come from. Where the bankroll building will give me the opportunity to start playing $55-$75 tournaments steady, climbing the ladder to playing $125s steady and so on. I am being adamant that I am only playing or will play the tournaments that are best for me financially and by this I'm talking juice. Sure it would be so easy to cut across to the Golden Nugget and play that $45 tournament but that thing has a 33% juice to it. $45 and they're charging $15 for their fee. Now compare that to the $65 tournament at the Mirage they also charge $15 for the fee for only 23%. Same exact fee amount, comparable blind stricture, higher starting stack, abd higher payouts. The choice is clear. I will only take shots at the higher priced tournaments when my bankroll is above that $600 mark. $600 will be the base bankroll. And I will only play tournaments that have a juice under 30%. 28% might still be a little iffy, but it's acceptable at this time.
It is so awesome socializing with the other players even though these are electronic tables. In the first tournament I played today this lady and I became fast friends as I taught her how to use the electronic tables. During the course of the tournament she got a drink I had never seen before called a Colorado Bulldog. She insisted that I take a sip of her drink and oh my God it was awesome. I ended up having three more. There was one guy on that table directly across from me, an African American gentleman in his late fifties I would say, and I have never seen anybody take so long to make a simple decision every single hand. OMG was driving me nuts. In the second tournament, the one that I won, was an awesome awesome table as we were all laughing and joking with one another even when people were getting knocked out. It was just the socialization aspect of it was just so awesome I absolutely loved every second of it.
That's all for now. Time to get some sleep so I can be back for the first tournament of the day at 10:30 a.m. Sorry for the delay in posting but I've just been trying to figure everything out and at the same time trying to continue to heal the best I can which is coming along slow but sure. Friday I will not be playing at the Plaza as I've got a doctors appointment at 2 p.m. for an ultrasound on my left leg. They want to check the veins that caused the Venous Stasis condition which initially put me on disability and see just what we're dealing with. So until next time, take care everyone, and I'll see you at the tables.