February 14, 2012
Moving away from online poker
Due to the recent developments with the Everleaf network, I no longer feel safe keeping money on an online poker site. While I believe that Merge is safe, I'm not willing to risk my bankroll on this assumption. So I'll be withdrawing the majority of my roll. It's not worth it for me to potentially lose $800-$900 for a $5-$10/hr winrate, especially when there are live games in my area where I can win at $20-$25/hr or more, without the potential risk of the casino being shut down and me losing my bankroll. While I am optimistic about the future of online poker (in my uneducated opinion I believe we will have legalized/regulated online poker in the United States between 1 and 2 years), now is a bad time to have any money online.
8 Comments:
SnappieVouz posted on February 14, 2012 at 22:11 PM
all the best to you man.
SCS posted on February 14, 2012 at 22:53 PM
Thanks. I'm not quitting poker, or even online poker for that matter. I'll just be removing the majority of my bankroll and playing mainly in live games until the online poker situation in the U.S. improves. I think I'll keep like $100 on and play 4nl. But like I said, it makes little sense for me to have close to $1000 online to make about $10/hr, when my hourly in a live game would be over twice that, with no chance of me losing my bankroll from the casino being shutdown.
I also plan to stay active in the community.
TecmoSuperBowl posted on February 15, 2012 at 01:53 AM
That's the same conclusion I came to back in April :)
chuck651 posted on February 15, 2012 at 17:23 PM
Seems like you should have quit a long time ago if you're making more than 2x what you're making online playing live. Just my opinion.
SCS posted on February 15, 2012 at 20:35 PM
chuck - I said I could make double my hourly, based on the general consensus of live winrates. I didn't play live because I didn't have an adequate bankroll.
SCS posted on February 16, 2012 at 00:05 AM
Tecmo - I came to a similar conclusion as well back then, but I did keep a small amount of my bankroll online to play 4nl. I'll still keep enough to play those stakes, but I plan to cash out any profits I make instead of trying to build a bannroll online and move up stakes, at least until we get favorable legislation passed.
goldseraph posted on February 16, 2012 at 20:53 PM
have u thought about being staked?
SCS posted on February 17, 2012 at 00:57 AM
I don't know anyone well enough personally to be comfortable asking for a stake, and even if I was I wouldn't want to deal with the logistics of it. Being staked for cash games seems to be a lot more complicated than being staked for tournaments. At least with tournaments you could look up which tournaments the stakee played and how well they did. I'm certainly not an expert at staking though.
It's not ideal, but I'm comfortable enough in my ability to play with a 6-7 buyin roll (tax rebate ftw) for a short time.
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