Whats the minimum amount of money you would move to Vegas with?

[warriorfan707]

Honest answer fellas

[beermankirk]

$25K with 12 months of bills in advance...

[iceminers26]

$25k betting fund + $25k living funds so $50k minimum

would feel much more comfortable with $25k betting + $75k living for $100k total

[rem sleep]

$25K with 12 months of bills in advance...

This is a sharp post. I would imagine you would need around 1K to 1.5K a month for bills, (rent in a cheap house or aparment with roomates, lease a cheap car, insurance, gas , food and etc)

So basically around 40K

[jjgold]

why??

All your going to do is lose all your money

Vegas is a great place to live only if your a recreational gambler and have a job

Only a rare few can make money and they are doing it with no risk

[Thurgood]

I would never move to Vegas. It would take away the 'vacation' factor and I would never put my dog through that heat.

Ideal situation would be a Vegas commuter. So 4 trips to Vegas per month and between 1-2 nights per stay. Free rooms are pretty easy to get, so that would leave just the airfare, bankroll and misc expenses. You said minimum so for me that would be $15k. Once that goes just go back to regular life at home.

[onlooker]

Didn't you already try moving to Vegas?

[Bigmikesm]

I wouldn't move there with less than 50k in the bank. I'd probably lose that in 3 months and move back.

[Bcatswin]

30k

[maxvalue1]

20 k

[BigSpoon]

Too much juice on lines in Vegas.

You would be better off moving to another country so you could use Pinny, BetFair and other books for the best lines if you are serious about going pro.

[Grits n' Gravy]

why??

All your going to do is lose all your money

Vegas is a great place to live only if your a recreational gambler and have a job

Only a rare few can make money and they are doing it with no risk

Smartest thing jj has ever said.

Once you actually move to and live in Vegas you don't gamble all that much, unless you are a complete retard. Coupon cutting, hustling free drinks at a video poker bar and dumpster diving doesn't make you a "sharp" or "ev gambler". It means you are a small step above being a panhandler.

[Robust]

not enough money is around for me to move.. i'd be broke and homeless in a month (not to mention an alcoholic).. great place to visit, but living there would be my kryptonite..

Robust

[thetrinity]

0 too much temptation out there and 2 hot

[slatter]

The minimum amount of money you'd move to Vegas with is $0?

[KC]

In 2001 I did it with about 12K but then was able to get a great apartment for 500/month..today would like at least 20K

[RubberKettle]

I heard they are trying to keep all the warriors out of Vegas.

[AlwaysDrawing]

Too much juice on lines in Vegas.

You would be better off moving to another country so you could use Pinny, BetFair and other books for the best lines if you are serious about going pro.

Real pros would do this^^

[Tech N9ne]

15k minimum

Shit I could move there right now and quadruple my bankroll. Problem is I get much better lines offshore oh and there is also the tax issue

[immy5150]

up on bills 6months advance...25k sounds about right and DO NOT DRINK ANYMORE

[iceminers26]

I heard they are trying to keep all the warriors out of Vegas.

If Vegas enforced a Warrior Ban, I'd be the newest resident to the city

[SBR_John]

These numbers are way way too low.

First you need a reserve that earns a small income. $200,000. At 7% thats $14,000 a year. That will keep you out of the homeless shelter.

Now you need a bankroll. $100,000. This is bare minimum boys. Your units need to be $500.

First 9 month expense budget; $13,500.

$313,500 is what you need. Minimum.

[Doc JS]

These numbers are way way too low.

First you need a reserve that earns a small income. $200,000. At 7% thats $14,000 a year. That will keep you out of the homeless shelter.

Now you need a bankroll. $100,000. This is bare minimum boys. Your units need to be $500.

First 9 month expense budget; $13,500.

$313,500 is what you need. Minimum.

Reality is a bitch...

[wantitall4moi]

No amount is going to be enough if you dont have the control to handle it or dont know what youre doing.

I did it on a shoestring when I went back in 99. I had a trust fund with a decent amount, but I also bought a house when I first got there so I would have a stable environment. So mortgage was about around 1200 I think, 1200 and change. You can live a lot cheaper than that there now. I had a TV, 2 computers, one sofa and a bed, thats it. So I didnt decorate all that well. But I still had to buy it all there since I was basically starting out new. Obviously if you have stuff now and take it that would be another expense not needed.

Now look at living expense. Single guy, working the comp tickets, you should be able to live on 30 bux a week in food. Utilities depending on what you have will be 100-170 a month. No TV (cable or satellite will diminish it a lot). If you have a car gas will be 15-25 bux a week if you just drive in and out of town a couple times a day. Or you could take the bus, but car can be just as cheap if you limit your mileage. Depends on where you live. I was 7 miles from downtown and 11 miles from the strip. so that is how I got my estimate (using 3.50 a gallon as opposed to the 99 cents it was back then).

Now you have to look at miscellaneous expenditures. Like that slot machine you walk by everyday and throw 5-10 bux into. Or that beer or 5 you drink, or the tips you give when youre playing poker. Or the 20 bux you throw on a roulette whel or BJ table that has a dealer standing their all alone. These are the things that can kill you. But if you survive the first month or two those things become less of a distraction, trick is to survive the first month and not get buried by them.

Now, if you just play sports you might have issues. Will probably have to mix in some poker. Plenty of 1/2 or 3/5 NL games around where you can sit, get some free drinks and a free meal for nothing. And you might win. Have to play tight passive style though as you want to play only when you have the best of it and a larger than average chance of winning. And let the loosey goosey types make you money. Which you'll find many of in the lower blind N/L tables. But picka budget and stick to it with poker. No ceiling just a cellar. So if you lose 150 leave. If youre way up then decide when to leave nd how it has effected your overall bankroll.

Now for sportsbetting. This is where it gets tricky. Vegas has some good options to bet on. They do however charge full juice. Unless you get creative. But for the most part you need to pay it all. But if youre moving there to gamble you have to adopt a risk aversion style. Forget the bravado forget trying to impress people with picking winners, your goal is to not lose money and have as many options open to make money as possible. So you have to look for lines that open low bet them heavy then look to get back some later on. And hope you pick the right spot to bet to always have a profitable buy back. Some guys say that is chicken shit, but it is also the only guarantee to make money. but to do it the right way you need quite a bit of money. 150K at least above and beyond your living expenses. Because you should be getting 4 to 5 leads a day, and those should be for as much as you can spread around 8-10K per side. Then you need money to buy them back. So even if you guess wrong on all of them the most you will have at risk is around 4-5% of your money. If you guess right on ll of them then you can look at up to 10% back, or anywhere in between that. The trick is to learn the math in your head to know what to do when you see it and to know how much you will have at risk if the lines go the wrong way. So basically with 150K you have enough to get past the learning curve.

So you need about 12-15K in reserve for that first year so you dont have to dip into your betting fund. then you need your betting funds. So basically you will need to make 12-15K that second year once you deplete your reserves to pay your way. So if you start with 150K that is less than 10% return. Which if you know your shit or are a quick learner will be easily attainable. But the bare minimum goal, is to, on your one year anniversary, take out your next years reserve from your bankroll and still have the same amount you started with the year before. So at least you can say you lived in Vegas for a year on your gambling winning.

Jon is giving the safety net approach basically. With a reserve of self sustaining income. My approach is your bankroll is the reserve he describes, so rather than letting it sit to the whim of something out of your control you control it and use it to bet with. And arbitraging and taking back on leads or even trying to middle stuff is enough to make money even if you really arent that great at it. It is low risk, and it has decent expectation. It is mostly about volume and getting the most for your money both ways.

No one will ever pick games one way enough no matter what size their bankroll. The only thing is the bigger your bankroll and the better your money management the longer it will take you to go broke. thats about it. Its a blessing and a curse football season is so short. A blessing because it keeps guys from being totally buried because they cant pick their asses, and a curse because the few guys who think they have it figured out still think that the next year when they eventually get buried by it, then the blessing part kicks in. The NFL is an anomaly, sure you can win a season, maybe 2 or 3, but the money you make versus the risks you took arent nearly optimal. Not enough games, bad vig, shity odds. The only thing NFL has for it is the highest limits around, and if you dont know why the books let you bet more on the NFL than any other sport, then keep your money in your piggy bank and stay in your moms basement.

[no1here]

I can do it on nothing

[ProfaneReality]

$1500

[kerrywoodwins20]

I honestly considered going to UNLV's law school, but honestly, I figured I'd probably drop out and just become a gambling junkie. I'd hope I'd be a winning player out in Vegas, but can't really guarantee it, and that isn't the life I wanted for myself.

[Bengals28]

10k

[Ice House]

I say 25,000 but move there like you would move to any other city. Have a plan.