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Poll
Question: What do you do with your winnings from a big win?
Excercise proper bankroll management, don't do anything crazy - 2 (66.7%)
Cash out most (or all) of your winnings, enjoy a night out on the town - 0 (0%)
Act like you just won a satellite ticket to a bigger MTT, play a $100+ buy-in tourney! - 1 (33.3%)
Total Voters: 3

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Author Topic: What do you do after a big win?  (Read 7269 times)
Mars
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« on: May 15, 2009, 02:42:41 PM »

So, you've just taken down 1st place in a large MTT for a big win (profit of $100+) - what do you do with your winnings?
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StarlightCoast
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« Reply #1 on: June 25, 2010, 10:03:12 PM »

I take a portion of the winnings and send it home for my wife Becci and I to be able to enjoy, but at least 50% stays with the bankroll
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RealityRSV
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« Reply #2 on: May 25, 2012, 02:19:17 PM »

brag about it Cheesy
Generally when i've had my big wins, they come at the end of the night (well, morning) so I try and relax for an hour as going to bed straight away means it takes longer to sleep because of the buzz.  As for what next, the first rule of my bankroll strategy is never have more money in my poker account than my bank account... if the roll is too high then i cash out but leave myself a realistically workable roll.  Where I have gone wrong in the past however, is to continue to try and play my same tourney selection having cashed out.... Where entering $200 of MTTs and SNGs in an evening would have been the norm for a roll of $1500+, when its shrunk to say $500 that put an unnessessary risk on the rolls sustainability... and of course, bad variance tends to follow good.  If you cash out, you need to adjust your game schedule to suit.

Of course though, i have entered into bigger buyin stuff after either a big win or a period of good form.  I've played the sunday million a couple times (no cash yet) and also entered the scoop main event a couple times, cashing once for 5x the $100 buyin.  Because my roll isn't big enough, i can't sustain playing at that level, but by taking shots when I can, I beleive i can oneday, hit a massive score that will make a real difference to my life.
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rw11687
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« Reply #3 on: May 27, 2012, 09:40:07 PM »

being that im mainly a cash player, I havent scored many huge wins in an mtt. The last one I remember was a game on Bugsys a few years ago, I think I took down a $600 profit or so. That is until tonight.

Just won a 3.5k package to the LSOP in Lima, Peru. Not positive on what I will do quite yet, but I can tell you I am still riding an adrenaline high and dont know when I will come down. It sure is a great feeling.
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RealityRSV
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« Reply #4 on: May 28, 2012, 01:05:40 AM »

Congrats RW thats a fantastic prize Cheesy

If you're not sure about any aspects of tourneys or live play, i'll happily chat poker with you anytime i'm free if you think it would help.  I might ask for a charity donation should you score big, but otherwise free of charge.
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Mars
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« Reply #5 on: May 28, 2012, 09:56:53 AM »

VERY nice score RW Cheesy

If I were you and could afford a week off from work, this would be a no-brainer, take the package and go for the score (worst case scenario, you bust on day 1 and still get a nice vacation out of it)!

Although, I also know you have a family now and I'm assuming this package doesn't include a plane ticket for your wife and kid.  However, seeing as how the entire event will take no more than 4 days, I think your wife would understand if you went on a business trip with a potential for a big win!
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rw11687
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« Reply #6 on: May 28, 2012, 05:34:47 PM »

Thanks RSV and Mars! I appreciate the offer to discuss poker, I would definitely take you up on that. However, it doesn't look like I will be going. I am in the middle of a transition into a new position at work and taking a week off won't really work.

On top of that, the package only gives $800 for a plane ticket. Tickets are upwards of $1,500 and its hard to spend an additional $700. Its also a 10-11 hour flight!

I plan on selling the package, although I will only get about 50% of the total value. At least I can take the money and have a nice bankroll to work with again!

I will say, I am going to have a hard time giving up on the chance to play in a big buy in tourney. I will plan on playing the satellites for the WSOP this year. THAT I will not sell if I am lucky enough to win one. I am really torn, as it has always been a dream to play in a big live event, and maybe get lucky enough for a big score. But in the end, I would rather take the money and try to build on it, and try to get the WSOP seat. At least a ticket to Vegas for my wife would be affordable.

Do you think I'm stupid for passing on this?
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Mars
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« Reply #7 on: May 28, 2012, 06:28:37 PM »

Not at all.  Average payout for this event is $1,500 - and your job pays much more than that (or so I would hope).  Knowing you won't be going (but that you do hope to play a WSOP live event), perhaps you can take whatever you get for the ticket and put it towards a WSOP fund - I forget if events start at $1,000 or $1,500, either way you'd be well on your way!

Of course, this goes back to the original question of the thread - use the money for a more manageable bankroll, or use it as a pseudo-super satellite?  Perhaps a 50/50 is in order - let's say you get "only" $1,500 for the ticket - put $750 into your bankroll, and $750 to jump-start your WSOP piggy bank!
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rw11687
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« Reply #8 on: May 28, 2012, 06:34:00 PM »

Good idea Mars, I think I will do that! The 50/50 split sounds like a very good idea. Smiley
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