Starting backing MastermindJR
Well today I starting backing someone by the name of MastermindJR and overall I could say it went relatively well. I started off with transfering him $5, then proceded to send $5 more @ 10% juice when he lost the initial transfer.
He lost the $10 dollars and wanted a dollar transfer, so I said @ 15% and he can owe me the $10.50 + $1.15
$11.65.
After he lost again, He asked for $3.30 so I came to 12.0833% on $3.30 roughly $3.69875.
Had I starting losing my mind?
Someone owing me for 3 money installments
was I actually angling myself into shipping another $3.30??
Already having lend out 3 consecutive transfer I started to feel weary, like he's going to maximize his free money hits today and never really come to a conclusion about the payment he originally agreed upon.
11.65+ $3.70 was about $15 dollars which sounds insignificant, buts its more fundamental that this is my bankroll im not going to just ship degen off in Gypsy land
Being the foosball fish I am, I decided to put it through for @$3.70
down $15.35 which was like half of my roll and before you know it I got back home with a $10 dollar transfer sent then he send me $5.65 when I msg'ed him on facebook
So was it worth it? I originally loaned out 5, then started making juice on loans.
$5 @ $5.50 (10%) $1 @ $1.15 (15%) and $3.30 @ $3.70 (12%)
along with the extra $.30 he included in his transfer back,
I risked $14.30 to make $1.35
Now my question is if im risking $14.30 to win $1.35 What is the break even percentage for me to make this trade profitable or neutral EV??
**** My bankroll started @ $10 dollars 2 days ago online and i've been playing on full tilt poker under the name of Zeljko Gajic. I'm also on 2+2 forums under the name qpdumke ****
Sorry if it was tl;dr
Thanks
Well today I starting backing someone by the name of MastermindJR and overall I could say it went relatively well. I started off with transfering him $5, then proceded to send $5 more @ 10% juice when he lost the initial transfer.
He lost the $10 dollars and wanted a dollar transfer, so I said @ 15% and he can owe me the $10.50 + $1.15
$11.65.
After he lost again, He asked for $3.30 so I came to 12.0833% on $3.30 roughly $3.69875.
Had I starting losing my mind?
Someone owing me for 3 money installments
was I actually angling myself into shipping another $3.30??
Already having lend out 3 consecutive transfer I started to feel weary, like he's going to maximize his free money hits today and never really come to a conclusion about the payment he originally agreed upon.
11.65+ $3.70 was about $15 dollars which sounds insignificant, buts its more fundamental that this is my bankroll im not going to just ship degen off in Gypsy land
Being the foosball fish I am, I decided to put it through for @$3.70
down $15.35 which was like half of my roll and before you know it I got back home with a $10 dollar transfer sent then he send me $5.65 when I msg'ed him on facebook
So was it worth it? I originally loaned out 5, then started making juice on loans.
$5 @ $5.50 (10%) $1 @ $1.15 (15%) and $3.30 @ $3.70 (12%)
along with the extra $.30 he included in his transfer back,
I risked $14.30 to make $1.35
Now my question is if im risking $14.30 to win $1.35 What is the break even percentage for me to make this trade profitable or neutral EV??
**** My bankroll started @ $10 dollars 2 days ago online and i've been playing on full tilt poker under the name of Zeljko Gajic. I'm also on 2+2 forums under the name qpdumke ****
Sorry if it was tl;dr
Thanks