Student Pay’s Off $60,000 student Loan Playing Online Poker

I thought this might be an interesting article to list since I only started this new site less that 2 weeks ago. This site is all about debt and everything that goes along with it. I barely had this thing up and going and i was getting emails from people telling me their debt stories and I have no place to put them so I figured I would add them on here until i’m ready for them so here it is:

To: whom this may concern,

I noticed you started this new site and wanted to hear about debt and all the stories people have whether good or bad. Well I have an interesting story for you not one that a lot of people would agree with but one that I did and paid off in a big way. I graduated from Ohio state in 2005 and had no idea what i wanted to do in life. I had around $60,000 in student loans and was being “killed” (sorry but I didn’t know what other word to put there) by the interest on the loans as you know many of us students are. I worked my butt off and tried to pay this down during school and didn’t have much luck with the cost of living.

So one day I was surfing around on the net and saw all these articles about online poker and I said what the heck let’s try it out, one site was offering 100% match on my deposit. Now i’m from a very religious home and gambling is not tolerated.

So here goes I deposited $800.00 it was the last of my student loan money and well I was up $500.00 in the first 10 minutes, I thought AWESOME here I go. I played for several hours and didn’t move very much that day. So the next day I woke up and played again I went UP $2500.00. I was darn near rolling over on the floor. So I figured I would go grab something to eat and came home and played again. Now i’m thinking I have issues with gambling. So I figured if I went up anymore I would quit. Well that never came I went down $600.00

On to the next day a Sunday (god’s day)hahah I thought OK i’m gonna win today. I wasn’t playing for 20 minutes and I was broke. I LOST it ALL I didn’t know what to do talk about depressed. So back to the drawing board. I started mowing lawns and was making OK money but the thrill of winning that money playing poker never left my head.

Now that everyone thinks I have a gambling problem I went on and played again FOR FREE this time and went into a FREEROLL tournament(is a tournament you can play and win small amounts of money or entries into bigger tournaments) so I play about 20 tournaments lost them all and started to give up. There was one more tournament at 9:30pm for a free entry into a big tournament. The problem was there were 2500 people playing for this. Well I played and 8 hrs later I won the tournament and I was in to the big tournament.

So the following Saturday is the big day. Well I was late by 30mins I was down big time but I was still in the tournament just sitting out every hand. 7 1/2 hours later I was the winner of $100,000.00 Yes I could not believe it and I still do not believe it but here I am today debt free of $60,000 and off to the wonderful game of life.

Till this day I have not played online poker or any type of gambling. I figured My wish was granted

CHEERS

GOOD LUCK WITH THE SITE LOOKS GOOD

Playing Blackjack As A Part Time Profession

There is no reason to stop you, taken you know and can play Basic Strategy backwards flawlessly, have the ability to count a deck down in roughly 25 seconds using a counting method, and know 12 or more Advanced Strategies to increase your odds against the online casinos.

Confident about your playing ability and have no problem with the requirement listed above – you are on your way – YOU ARE A PROFESSIONAL BLACKJACK PLAYER already. People require 3 very important things before they will be convinced to becoming a full time professional player – family, security, and finance. In fact these 3 factors will influence any person in any major job decision they take throughout their life, oh….and….where they live! Living in Las Vegas or Nevada is not quite your family neighbourhood!

The lifestyle of a professional gambler could also not be to the players’ liking – nor to his family’s and he may lose more than just his money in the end. They must also remember that Blackjack does not come with full medical or unemployment insurance, and that his finance might not be large enough to cover a long run of losses, or to make the big bets needed to get the big one! It is a big decision, as changing any job should be, perhaps it can be taken slowly?

What if the player could make some sort of achievable goal during the time he still ahs that stable job, family, security, and extra cash to play with? If a player has “professional Blackjack” skills, why not let it work for him?

For example: A part time player has a day job making just under $ 100 / day. He keeps records his play at the tables and has a win : loss ratio of about 5 : 1, (5 wins out of 6 times). He wins on average 6 units of his smallest wager / hour. So…., if the table minimum is $5 and he places bets of between $5 – $25, he normally takes in roughly $30 / hour. Sometimes he wins more and sometimes has also lost $300, but consistency will ultimately pay off.

If a player wants to average wins of $100 / playing session, the same amount equal to his daily earned after tax income. Taking the win : loss ratio of 5 : 1, and a implementing a stop-loss set at $100, this means he had to win $120 5 x to cover for a loss of $100 on the 6th session. The players’ stop-loss is set at $100 (daily work rate and maximum amount he can afford to lose). Each playing session would be treated as if it was a day at work, so…off days would simply be breaking even. Though the game of Blackjack is win some, lose some, a player can effectively double his income per day.

Any good player keeping records can come up with a similar plan or system – if he earns $50 a day and wins 2 out of 3 times, he can set a stop loss of $50 and aim to win $75 each time he plays.

The system can help players contemplating the move to professional, see that the income can remain the same or even be better than their current income at their present “jobs”. They can prove it to themselves and …become profit from playing blackjack. This system will show players what they are capable of, over a period as long as they want, until they feel comfortable to make the move.

Players who make the move to Professional must also realise that this play is a long term game, and not short term as played before. Basic playing principles much the same: small wager with a Count of +1 and larger wagers above it. This strategy is a “slowly slowly” strategy that makes most Counters their money (% advantage x size of bankroll). There are players who no bankroll, and only their table betting to play with. Here a conservative approach must be used to remove volatility from the game.

Some players (Counters) use Jerry Patterson’s “Takedown” strategy. Jerry is the Father of “Alternative Blackjack” with his mentions of biases and strings of small and large cards due to shuffling and card pick-up routines. He explains why and how counters can avoid being ‘caught’ by betting large amounts as the count rises. “Takedown” is a method of betting for non-counters and Jerry explains that players should bet as the count drops, not as it rises, as it is now that the 10s are coming out.

Most successful Counters use a bankroll and increase their advantage when placing each wager based on the count, and end up earning more money long term, riding out the swings of the game. One such swing can result in a player quitting Blackjack play all together, usually having lost all his money. 6 and 8 deck games are the hardest to beat due to shuffling biases, which is hard to prove mathematically. Traditional Patterson betting strategies are more effective against one and two deck games, which are still common in Las Vegas.

Jerry in “Takedown” also recommends that players lock up their winnings and play on to other limits. i.e. a player must set a goal of say $150 for the day, but if he needs to bet out of his $120 win, he must not. If he got to $150, same deal. Jerry calls this a “winlock” and explains that players must divide their winnings into 3 piles.

Using the above example, the player pockets his $120 and place his $30 win in 3 piles, two $5 chips each. He will place bets from 1 pile only. For the next hand he places a 1 chip bet from pile #3. If he loses, he bets the last chip from pile #3. If he lose, he is done for the day. If the player however gets on a winning streak he replenishes pile #3 back to 2 units. He then places the next win on pile #1, then pile #2, and finally to pile #3, the betting pile. He might get these 3 piles up to 8 units each, then hit a losing streak and lose pile #3, then it is time to QUIT. This is an excellent way to maximize your winnings and minimize your loses.

How it is Possible to Make a Living and Earn $50K Or More Per Year Playing Craps

Are you dissatisfied with your job? Do you feel you should be earning more but do not know what to do? Let’s assume a person earns $25 per hour working 8 per hours per day. This equals $200 per day. Working 5 days per week equals $1,000 per week. Working 50 weeks per year (take two weeks off for vacation) equals $50,000 per year. Not a bad income for most people.

For argument sake, let’s assume I can make $25 per shooter playing craps. Taking it further, making $25 per shooter, betting on 8 shooters per day equals $200 per day. On average there will be approximately 15 shooters per hour at a craps table. In other words, you can make in one hour or less what a person earning $25 per hour makes in a day. Think about it for a moment.

Playing craps professionally requires you to avoid distractions, maintain mental discipline, adhere to precise rules and techniques, and to control your emotions. The greatest reward as a professional is the freedom to “work” your own hours and to be your own boss.

Playing craps as a business avoids typical problems and/or costs. For example, it requires no accountants, bookkeepers or attorneys to operate. You will have no collection problems with receivables, no inventory, no advertising, no “customers” and no employees, which means you do not need to contribute to employee benefits or taxes. Playing craps as a business requires no insurance, licenses, dues or registration. There are no “competitors” playing craps professionally. If anything, you have a commonality with other players at the craps table – – to take money from the casino, not each other. Caveat: Playing craps is gambling! There are no fool proof systems, strategies or methods. You will not get rich overnight. There will be times when you will lose money. How you handle these loses will determine if you will be successful or not. Success requires a lot of patience.

All of this sounds great right? Wrong. Here are some problems with the logic. First, unless you live in Las Vegas, Laughlin or Reno, Nevada you need to live in a geographical area where the local casinos operate craps tables. Phoenix, where I reside, does not. So there is a cost and expense to travel to Vegas to play craps.

Second, you will not win on every shooter. So you need to have a large enough bankroll to withstand some losses. An adequate bankroll is $2,500 of money you can afford to lose. Having an adequate bankroll is a must to ensure you have a proper psychological attitude. Herein is the problem because most people play not to lose instead of playing to win.

Third, the majority of people who play craps do not have the discipline to stick with a betting strategy or to be satisfied with earning $200 per day, let alone per hour. Greed has turned many winners into losers.

Fourth you need to have a betting strategy wherein you can make $25 on each shooter while minimizing your risk of loss. So you need to understand the basics of the game and then some. There are many different betting strategies that will allow you to win $25 on a shooter. Some are better than others.

If you are going to play craps to make a living treat it like a business. Operating any business requires operating capital. Most businesses fail if they are under funded or do not have a written business plan with specific objectives and how they will meet these objectives. Likewise, if you do not have a sufficient bankroll to play craps, you will fail. Also, if you do not have a written plan with specific goals and how you will achieve them, you will fail. If you do not understand these concepts, please do not risk any money attempting to earn a living playing at the casinos.

Several keys to help you succeed include, but are not limited to, the following:

1. Stay at the craps table for short periods of time. Take breaks often to avoid getting tired. Longer stays at the table increases your exposure to potential loss.

2. No system is fool proof. Craps is a game of chance. You can and will lose money. You must maintain discipline and proper money management. You cannot get greedy playing craps. Set daily goals and adhere to those goals. If you win your daily goal, leave the casino. If you lose your daily limit, stop playing and leave the casino. The casino will still be there tomorrow.

3. NEVER GAMBLE WITH MONEY YOU CANNOT AFFORD TO LOSE EITHER EMOTIONALLY OR FINANCIALLY. NEVER BORROW MONEY TO GAMBLE.

4. Never gamble when you are depressed, unhappy, tired or not feeling well. You must be able to focus and concentrate on what you are doing.

5. Never increase your bets when you are losing.

6. Never drink alcohol or take drugs when playing craps. Again, you must be able to focus and concentrate on what you are doing at the tables.

7. Keep an eye on your bets and make sure the dealer has made the proper bets for you. If you call off your bets, make certain the dealer has used the “off” button to indicate so or has taken down your bets. Make certain the dealer has paid you correctly. If you do not catch the mistake in time, it may cause you to incur a substantial loss. Dealers are people, they make mistakes.

8. Treat dealers with respect and courtesy. Tip or “toke” dealers. You generosity will pay off in the long run. My experience has been that if you treat dealers with respect and courtesy and tip them they will watch out for you and they will take care of your bets.

These are only a few points to help you be successful. There are plenty more keys that will help you be successful.

There are many “professional” craps players. You do not generally hear about them because they are very quite about what they do for a living. They do not boast or brag. They do not draw attention to themselves. Most professional craps players are earning more than $50,000 per year. I have met them and I have played with them. The key word is that they are professionals who know what they are doing. So be careful. The entire point of this article is to make you aware that it is possible to make a living playing craps.

By: David Udjat, for Walk Away Craps