High risk investment to fund new camera?

[MichiganFarts]

After getting some negative feedback on using credit to buy a camera, I've decided instead, to attempt to fund at least half of the new D7000 I want, by playing online poker.

I started with $30, and now I have currently $178. Just won a tournament last night with a $3 buy in, and a $75 payout. I'm off to a much better start than I anticipated, however any poker player knows how fast things can turn on you.

So do you credit nay-sayers approve of my new method to buy my new camera?

 

[ghache]

One ex co-worker was making around 25k a year playing online poker. rarely loosing money. He played safe all the time.

 

[mjhoward]

With only a $30 investment... go for it! I've played my fair share of online poker and have almost always lost. I was usually playing the ring games though with the occassional sit and go. I know of a few people that made some good money playing online, but mostly a lot of losers (including myself lol)

If you end up losing all of your current stack... I'd call it quits and dont make another deposit for a while. I still do from time to time as a cheaper alternative to weekend entertainment or something but I wouldn't ever count on it for income.

Good luck!

 

[MichiganFarts]

I normally play smaller, low ball tournaments. Which means that I'm running a lower risk, with lower rewards. But also I don't tend to lose money when I deposit.

The problem is the time sink it takes to get a decent amount of money.

But like you said, for entertainment that pays...not bad.

I don't think I could sit there for the hours it takes to make a living at it, even if I thought I could get disciplined enough to do so. Just sounds boring. And I like my job.

 

[12sndsgood]

reality is your likely to spend less in credit card intrest rates then you are the amount you will prolbaby lose gambling for it lol.

 

[Trever1t]

what's wrong with using credit? If done wisely you can only win win. Many places or cards offer low interest or NO interest for a period of time. Best Buy has 18 month no interest.

To those that say never use credit, how do you buy a home without it? A car? So why not a camera? Or lens?

 

[MichiganFarts]

Hey, I agree. I said the exact same thing.

 

[ghache]

what's wrong with using credit? If done wisely you can only win win. Many places or cards offer low interest or NO interest for a period of time. Best Buy has 18 month no interest.

To those that say never use credit, how do you buy a home without it? A car? So why not a camera? Or lens?

Deffinetly, but you need to have a good credit

i know some people who cant get a 500$ credit card because they ****ed up bad lol.

 

[MichiganFarts]

reality is your likely to spend less in credit card intrest rates then you are the amount you will prolbaby lose gambling for it lol.

Playing casino games, sure. Playing poker against donkeys, doesn't feel that much like gambling anymore.

 

[skieur]

what's wrong with using credit? If done wisely you can only win win. Many places or cards offer low interest or NO interest for a period of time. Best Buy has 18 month no interest.

To those that say never use credit, how do you buy a home without it? A car? So why not a camera? Or lens?

You need to be crazy to use a credit card which ranges from 18 to 21 percent interest. With low or no interest for a period of time, the card company is betting that if you run up a tab on your card, it will be more difficult to change to a different card company and they can then start charging their exhorbitant interest rate.

A card at about 5% interest based on your line of credit is a better deal.

skieur

 

[MichiganFarts]

You need to be crazy to use a credit card which ranges from 18 to 21 percent interest. With low or no interest for a period of time, the card company is betting that if you run up a tab on your card, it will be more difficult to change to a different card company and they can then start charging their exhorbitant interest rate.

A card at about 5% interest based on your line of credit is a better deal.

skieur

I think you missed the "when done wisely" part.

 

[Josh66]

however any poker player knows how fast things can turn on you.

Take your winnings so far and set them aside. Put it in your camera/lens fund. Start over with the original $30.


Maybe not the best way to get rich, but you won't go broke either.

 

[MichiganFarts]

however any poker player knows how fast things can turn on you.

Take your winnings so far and set them aside. Put it in your camera/lens fund. Start over with the original $30.


Maybe not the best way to get rich, but you won't go broke either.

You're actually wrong in your assessment of your advice...that IS the best way to do it.

Ideally you're using 2 - 5% of your bankroll in ring games, or in tournament play, have bank your roll be 20 to 30x your buy in.

 

[Robin Usagani]

Internet poker sucks! Really man.. stop when you can. I was a pokerstar addict (Gold Member). Lost quite a bit. And I am a VERY good player and **** happens all the time. I stick with home games just for fun. Go all in with AA before flop, the guy had AA too and I lost. **** like that happens to good players. Tired of it. I really enjoy all the time I have, now that I dont play poker online.

I do occasionally play home games and go to casinos. But never online anymore!

 

[MichiganFarts]

Internet poker sucks! Really man.. stop when you can. I was a pokerstar addict (Gold Member). Lost quite a bit. And I am a VERY good player and **** happens all the time. I stick with home games just for fun. Go all in with AA before flop, the guy had AA too and I lost. **** like that happens to good players. Tired of it. I really enjoy all the time I have, now that I dont play poker online.

I do occasionally play home games and go to casinos. But never online anymore!

I had that same kind of sentiment towards Absolute Poker. I hate that site.

I currently play on FTP, and I've deposited $30 three times now, and I've cashed out $100 and $300 so far. I currently have $178. I don't know what the differences are in the software, or what the factors are for why success has been dependant on what site I play on, but so far FTP is working for me.