Cashing out on a Regular basis.

All of you who cash out your poker roll to deal with life problems are seriously doing it wrong. I've long wondered why M2M, Stacks, Spoony, et. al. are not playing higher stakes... maybe this is why?

Your poker roll should remain completely separate from your life finances. The poker roll is there for the sake of the pokers and you need the monies to make more better pokers.

If you use your poker roll to deal with life problems, then you're likely to have to drop down in stakes frequently, which will significantly lower your winrate. It's like you demoted yourself over a flat tire.

If you're going to borrow money, you must have a plan to pay it back... and borrowing from your poker roll is just like borrowing from a friend. Personally, I'd sooner borrow money from friends or family or a bank than borrow money from my poker account. There's no reason to give myself excuses to avoid paying a debt, since I owe it to myself.

Originally Posted by MadMojoMonkey

All of you who cash out your poker roll to deal with life problems are seriously doing it wrong. I've long wondered why M2M, Stacks, Spoony, et. al. are not playing higher stakes... maybe this is why?

Your poker roll should remain completely separate from your life finances. The poker roll is there for the sake of the pokers and you need the monies to make more better pokers.

If you use your poker roll to deal with life problems, then you're likely to have to drop down in stakes frequently, which will significantly lower your winrate. It's like you demoted yourself over a flat tire.

If you're going to borrow money, you must have a plan to pay it back... and borrowing from your poker roll is just like borrowing from a friend. Personally, I'd sooner borrow money from friends or family or a bank than borrow money from my poker account. There's no reason to give myself excuses to avoid paying a debt, since I owe it to myself.

So mojo, are you going to go find jobs for all the poker players who use some winnings to get by?

I'm in the same boat as you and don't need poker at all (high five etc), but borrowing from friends instead wtf? You've set an ideal here but life isn't like that bro, not for everyone.

Originally Posted by MadMojoMonkey

All of you who cash out your poker roll to deal with life problems are seriously doing it wrong. I've long wondered why M2M, Stacks, Spoony, et. al. are not playing higher stakes... maybe this is why?

re m2m - 10-20 is pretty high as far as the current poker ecosystem goes...
re spoon - i don't think he plays poker nowadays?

Originally Posted by MadMojoMonkey;2123265[B

]Your poker roll should remain completely separate from your life finances. [/B] The poker roll is there for the sake of the pokers and you need the monies to make more better pokers.

If you use your poker roll to deal with life problems, then you're likely to have to drop down in stakes frequently, which will significantly lower your winrate. It's like you demoted yourself over a flat tire.

If you're going to borrow money, you must have a plan to pay it back... and borrowing from your poker roll is just like borrowing from a friend. Personally, I'd sooner borrow money from friends or family or a bank than borrow money from my poker account. There's no reason to give myself excuses to avoid paying a debt, since I owe it to myself.

ok, so for those of us who play poker for a living this is a little different. If i don't withdraw my monthly 'salary' then i don't have money. I mean, i have a bunch of money sitting in backup bank accounts, but those are backup bank accounts in case of a rainy day (e.g. online poker disappearing completely and not wanting to be in a position to need to find a job within a month or two)

A good rule for cashouts could be this:

If doing so leaves you dropping down in stakes or leaves you damn close to it, you're doing it wrong.

Originally Posted by Micro2Macro

A good rule for cashouts could be this:

If doing so leaves you dropping down in stakes or leaves you damn close to it, you're doing it wrong.

This is a good idea