Ok, since this CLEARLY is NOT for everyone, I will preface this article, with MANY STERN warnings:

Warning: don't try this, unless you are READY.


Anyway, the subject here, is borrowing to play a tournament, or to have a suitable bankroll.

WARNING: be very careful, before trying this.

Anywhooo, a couple days ago, Randy, the adam brother was all stressin' about wanting to go to Wisconsin and play this special tournament. he barely had the money to play, but none to lend Adam, or to play the live game.

He thought about getting a payday loan, but balked at the rediculous fee of ten percent, for only two days.

(Ed note: aTE hates the entire payday loan industry, and thinks they should go to prison, for loansharking)

Well, ATE certainly does not want to see him get involved in the vicious cycle of payday loans, but . . . .


with his tournament skill, fifty bucks certainly was a big overlay . . . so, i encouraged him to do it.

We got the money,and drove like a bat out of hell. past the twin cities, and all the way to the Turtle Lake Casino in Wisconsin.

Anyway, ATE borrows 200 bucks to play, and Randy enters the tournament. I did'nt want to play, as the 170 fee would eat up almost all of my money.

So, I played deuces wild video poker, and hoped to have some left for the live no lmit game after the tournament.

Bottem line:

Randy, the Adam brother WON the tournament.

2 grand.

ATE won a BUNCH, and we headed a home.

Then, he played 15-30 one night, thirty sixty the next, and ended up with seven grand.

That's good,as we are plannin' to go to the WSOP.

ATE will play the omaha event, and Randy will play a few events.


seven grand, for fifty bucks worth of interest.

Reckless? No, Randy is a skilled player, with an 11 year history of winning tournaments.

If he was not so pluckin' stubborn, and just HAD to try other games for the last ten years, ignoring aTE's advice to just stick with tlhe tuournaments, in which he has a winning record.

WE would be seei'n him on that silly WPT program.

We probably will, anyway, now that he's back on track, playing tournaments again.


Anyway, does this mean that aTE is suggesting that all of you go out and borrow, to pl,ay.

HARDLY

you all know what I've said on the subject of playin' too big for your ban kroll.


BUT, THE REVERSE IS ALSO TRUE.


If you have the talent, moxie and experience to play and win at big tournaments, but only lack the funds.

YOU CAN BE MAKING A BIG MISTAKE, BY BEING TOO CHICKEN TO TAKE OUT A LOAN, AND KICK SOME BUTT.


vENDING MACHINE Robert, is the classic example of this. He hate his vending route, and has a clear, 15 year history as a winning player.

he's making good money, part time in 9-18.

But, for his skill level, it's a waste of time.

he could get 100 grand for his route, and make a couple hundred thou, in 20-40 through 40-80 games.

and, he's 54 years old, too old to be doin' a vending route.

Robert has the talent, and could have the money to play much bigger.


BUT, KNOW THIS:

you had damn well be ready, before you take out a big loan.


But, if you are ready, and do'nt do something to get the bankroll to play

You're missijng out.


Also, it's not a good idea, to determine for YOURSELF, if your qualifited.

you should really have a skilled pro, make that evaluation.



He'res the classis example, of someone who's ready.


software engineer, 78 k income


has been playing tournements for two years, and has won a couple.

has a year's solid records, in no lmiti games, winning 5 big blinds an hour, over 600 hours play.


Now, he wants to take out a 10k loan, to play two wsop events, two 3K buy ins in the 10-20 blind, no limit game at Bellagio.


If he (she) losses the money, it will just mean 400 a month less in spending money, for a couple years.

bud at home, instead of imported at the local sports bar with the guys, that sort of thing.

But, if this person wins an event


now, they are transformed into a 250,000 a year player, and have the life of their dreams.


NO GUTS, NO glory.!!



BUT, again, again I'll say: this is only for the qualified!!


ATE is NOT telling everyone to do this.


But, if you have the means to pay back, and the records to show the skill.


YOU MIGHT WANT TO TAKE THE CHANCE.


by the way, the INSTANT you are ahead in the cash game, enough to pay back the loan.

GET YOUR BUTT OUT OF THERE.

play your events, and you'll be able to do so much better, knowing that you have the loan payed back.


ON A LESSOR SCALE,

you might consider borrowing to play something like the 215 event on pokerstars.


let's say you can afford to pay 20 a week, for 11 weeks.


not too much of a cramp on your lifestyle.

BUT IF YOU HAVE THE TALENT TO PLAY LARGER GAMES/TOURNAMENTS, AND WIN THE STARS EVENT (100k FOR FIRST)

you can now have the life of your dreams.

not a bad trade off, for a little less pocket money each week.


AGAIN, don't take foolish chances,


BUT, DON'T BE A CHICKEN SHIFT, EITHER.


poker does involve chances and risks.


just make sure the risks, are within your means, and the chances are worth the risk.



oh, how'd ATE do? picked up 700, after paying the 200 loan back.


so, both borrowers, did well.


something to think about,

ATE did stress several times that this was not a great plan for most people.

Personally my credo is: only play with moneay you can afford to loose. Only if you wouldn't blink once when you loose it all you can really have the Guts.

But I'm lucky situation. I have a good business that is paying me nicely and I understand, that there are people who are in a entierly different situation.

I think, that in this situations it might be ok to take one shot if the risk is calculatable (the 50 $ interest (unbeliveable) ) is in this category. What i can't understand is, that when you was lucky that you then say: Use the Money and take one shot at the WSOP and not say: it sucks to be broke i use this new won BR to build it further with games within this BR.

This is pure gambling.

Simon