PLO 6max!

Go Neilly lulz

How are you still in make up?

You have over 20k winnings in the last month or two.

living expenses and debts.

Life an an MTT pro can be very difficult.

[x] forever broke

i understand life as an MTT pro, keylek.

seems like a lot of makeup, is all, unless any type of allowance for living expenses was added (the cost of neilly getting to canada, given money for rent, grocery, etc - unless he had to pay that on his own)

how am i in makeup

arrive in canada 10k in mu - clear mu - get a few $

go back 10k in mu immediately - get out of debt pay off some debts and its been a process like that.

to stay out of MU as a MTTer - you need to be consistently winning MTTs on just about a daily basis, in a spectrum that is broadened to monthly/yearly. (Can be hundreds of mTTs between wins, can be 5, never know)

say u clear makeup, and lose 3.5k the next day, and win 2.5k the next day, you are still -1000, that is the battle with makeup - along with not binking a wcoop yet during this vv high bi month.

its agitating, i agree.

when im ballin if ever i'll be superb on my own. just need the 10k startup, so i might as well make it on the stake and pay off my debts and be at my A+ for whenever I am on my own etc;

On September 26 2013 12:30 chris wrote: i understand life as an MTT pro, keylek. seems like a lot of makeup, is all, unless any type of allowance for living expenses was added (the cost of neilly getting to canada, given money for rent, grocery, etc - unless he had to pay that on his own)

these are covered at a 1.33/1 loan til im up 50k then 1/1.

u know my backer all to well Chris

What level do you need to be at to makes 6 figs a year? By repeatedly having to go back into MU it sounds like you are making less money than a McDonald's employee, and probably working 10x as hard

On September 26 2013 12:57 NewbSaibot wrote: What level do you need to be at to makes 6 figs a year? By repeatedly having to go back into MU it sounds like you are making less money than a McDonald's employee, and probably working 10x as hard

ofc not, its just the debts+loans that prevent him from accumulating his profits

the 1.33 / 1 seems a little high, but i do know your backer, and i like him a lot and respect him a lot.

i suppose the rate is still infinitely better than a lot of payday lending institutions and even on par with credit card companies, so what the heck

makeup is just a bitch, we both know it. all though i suppose with the current staking system you are in, its just sort of a daily tally until you bink another tourney, any day now.

Keep it up Ryan, you are doing good, and your results are sick impressive. I wish you the best

what you spend all your monies on, coke or piff???

I'm pretty sure 1.33/1 is very very generous. Often living expenses are at 2/1 as neilly needs to earn that money at 2/1 if 50/50 stake to spend it the first time around - esp as he's getting it up-front here. (It makes alot of sense if you think about it). - If it was at 1-1 its just a no interest loan which is crazy as its increasing markup and the risk in increases exponentially the more that is owed, if say he owes 10k make up and had 3k in 'living expenses' out of the next 13k that is earned the backer is only seeing 5k and neilly is seeing 8k all the time while increasing his exposure and risk of not being paid... Living expenses either have to be a low interest loan that is forced to be paid back no matter what (But you must really trust someone to be willing to give this out) or @ makeup at a big premium.

Sorry Chris I wasn't trying to be condescending or anything, its just that to me its quite understandable that someone who plays as much as neilly that 20k in a cpl of months will not necessarily get them out of makeup and debt. He could quite easily have 10k+ of buyins in that time.

On September 27 2013 03:27 KeyleK_uk wrote: its quite understandable that someone who plays as much as neilly that 20k in a cpl of months will not necessarily get them out of makeup and debt. He could quite easily have 10k+ of buyins in that time.

"20k in a couple of months" means 20k profit

These staking deals seem like traps, and actually encourage default since they just go back and forth like a credit card. I dont think a backer should be collecting monthly on a debt like this. Ryan needs a LOAN. 10k, pay back 15k in 6 months or whenever he's crushing. Now he has the freedom to just play, not pay shit back until he's well out of the hole and fully self-sustainable.

the thing about the 1.33/1 loan is its 33% interest, and obviously there is risk and no one said it should be an interest free loan, but if neilly had a cosignor on a loan for living expenses (like his backer) he could probably just borrow, say, 12k for 6 months living expenses at something around 10%, if they did it through a bank.

thats all. 33% interest is like a payday loan. it becomes very hard to pay off , because you are borrowing every month, which increases the debt, on top of makeup.

and think about how much makeup that is keylek - you have profited 20k+ and are still in makeup, that means you were DOWN over 20k

now, the only way it makes sense to still have makeup (at least, in mind mind) is lets say neilly was like 10k in makeup, he makes 20k, giving 10k profit on stake, and he and backer each take their 5k and they are back at a neutral setting. however, i dont think stakes really work like that, or at least, rarely work like that.

and in any case, it also means anytime ryan needs money to live he has to take a loan, instead of being able to cash out.

the way poker is now a days, it seems any stake is going to be risky. i know his backer and like his backer a lot. i think ryan probably has a good deal. its just hard to make money when on a stake - its always going to be going to someone else.

I dont know what it is you don't understand Chris but along your lines of thinking..

When you stake someone at 50/50 surely thats really harsh because backer is charging 100% interest!!! (omfg!!). Obviously its standard, theres just something you're missing from the fact that this is a STAKE and the 1.33 'loan' isn't a loan at all because its part of the STAKE and Neilly doesnt have to pay it off if he finishes the stake in makeup.

We're not arguing about whether or not its hard for neilly to make money, obviously its hard to make money on a stake let alone + expenses too, but you have to live. Comparing it to a payday loan is absolutely incorrect.

Once again think about the fact that for every $1.33 he makes which clears him out of conventional makeup the backer is only profiting 33 cents whereas if there was no living expenses he would be profiting 67 cents.. So it is actually super generous of the staker.