In the first of a new series on becoming an online pro, Jon Huckle looks at the various staking sites on offer.
It’s the dream, isn’t it? Give up that 9-to-5 humdrum and become a professional poker player. Many have tried, and failed. However, being able to play full-time without having the pressures of reducing your bankroll to pay the monthly bills can be the difference between success and failure.
So where do we look for the funds? As the high street financial institutions don’t seem to have two pennies to rub together and the pavements are strewn with the mangled remains of bankers launching themselves off the nearest tower block, forget them and don’t go hammering credit cards either; borrowing is a road to ruin and desperation.
In some cases a rather well-off friend or poker mate can be approached for such a service but in reality doing such a deal can lead to broken friendships if you don’t win and to be honest a friend is worth a lot more than any amount of money.
The preferred choice therefore has to be one of the growing number of professional bankrolling companies that offer not only a bankroll but support in the way of bankroll management and individual player training to help you get better, win more and in general be a shoulder to cry on during those bad patches.
A lot of players believe they have the perfect game and could not benefit from a professional mentor, but in my experience everyone can still learn something and only the arrogant (and my wife) believe they know everything.
I believe the bankroll management side is really important as stopping you losing too much each day and avoiding those all-important tilt issues can really make you money long-term.
When you apply for bankroll staking, you could warrant getting anything from $50 loss limit to $50,000 a day depending on what stakes you play and can already prove you’ve won at. These companies are not stupid, however, and will undoubtedly want some proof that you can play, either by watching you play over a period or by checking your poker accounts to see your win/loss history across a number of sites. With millions of dollars at stake, these firms want to protect their investment but also maintain the prospect of a nice return, as let’s face it, they don’t do it for nothing.
Having looked into the market a bit I have come across three of these companies who can provide such services. Here is little bit of info on each. Although they are online businesses, all three sites do reward top players with seats at live events as an added bonus, so let’s see what else they have to offer.
1. BANKROLL SUPPLY
Bankrollsupply is a UK-based company with a small but growing client base. The firm offers 100% bankrolls, preferably to relatively small-stakes players who are looking to move slightly upwards initially with the real possibility of increasing to larger-stakes games as soon as it is prudent to do so.
Players all receive at least 65% of their profit. Their share of profits is fully paid to them each month into their online poker accounts or alternative methods if required. The starting bankroll usually amounts to $250 per day which is increased as soon as the candidate shows that he is a capable solid player.
Bankrollsupply also enables players to try higher levels of stakes without risk and it also allows players to spend all of their profit and know that they will always have a bankroll available the next day to play with.
Currently the site has two highly successful online professional players that assess applicants and review players ongoing and are available to give help to players that hit rough patches of form or feel they need help.
Players can apply online at www.bankrollsupply.com or email admin@bankrollsupply.com, giving details of their poker experience and requirements. They currently operate only on iPoker.
2. BADBEAT
The second and the biggest of the three has had regular mentions in the poker mags and as one of their “traders” I’m in a good position to outline their benefits.
Badbeat can sponsor players with daily loss limits of anything from $50 to $180,000. They want players to play at levels where they can beat the game - the only limit is your skill. They will increase your daily limit over time as you prove that you can beat the level you currently play.
Badbeat’s risk management team will ensure that you manage your bankroll properly. They agree daily loss limits with you and these limits will rise if you are winning over a period of time and reduce if the poker gods are giving you a kicking. This will ensure that you never have to worry about bankroll management again and that the rollercoaster effect of huge losing days will be hugely reduced, if not totally eliminated.
Badbeat will provide you with a mentor who will be there to help improve your game. The mentor role is to help guide you through improvements in your own game, be there when the poker gods aren't smiling on you, and generally to look at the way you play and help you increase the money you make.
Their proprietary software, Pokernet, will track your hand histories, allowing you and your mentor to plug leaks in your game and help you learn how your opponents play, all of which will mean that your game, and therefore your profits, will improve.
You start with a 50/50 split of profits as a trainee but once you progress to full trader status you also receive bonus payments as long as you are in profit.
You can apply through the ‘Get Sponsored’ tab (funnily enough) at www.badbeat.com or by emailing info@badbeat.com.
3. GEOFF
The third is the strangely named bankroll site GEOFF. The Geoff of the site appears to be a duck but don’t let that put you off - they have put together a very attractive package for the budding pro.
GEOFF works on a ladder system for unproven players who start off with a daily loss limit of $20. This is reviewed daily, moving from bronze and silver to gold level, which is $500 a day. As with BadBeat, online mentors are on hand to work with you on improving your game.
To get cracking, you set up an account, either on Poker United (if you prefer the iPoker system) or Full Tilt Poker and fund it for a trial period to prove you can win. You don’t have to fund it yourself for the trial period, so long as you can convince them you are a winning player.
If you are an experienced player with a proven winning track record you would start on a limit to be agreed upon between you and one of GEOFF’s mentors. This limit will still be less than they would expect you to climb to, and no doubt less than your aspirations, but a few solid winning days would be enough for them to raise that to a more realistic and profitable figure for all concerned.
For both rake and winnings there is a 3/5 payment to the player and a 2/5 retention by the site which is held over for just one month. For example, if your share of your winnings in Month One is £500, they send you £300 immediately, hold onto the other £200 until next month, send it out with the following month’s winnings, and so on.
You can apply to GEOFF on their website: www.geoff.cc
All sites do expect you to commit to a certain amount of play per week but if you are going full-time this is not an issue. They also expect you to treat their money as your own so don’t expect to be kept on if you donk off your daily limits with pathetic play.
So, in conclusion, by getting on board with a bankroll site, not only can you get that much-needed cash to turn pro but also gain the opportunity to improve your game and play at much higher levels. Improving as a player and winning way more than you could have ever hoped – doesn’t that sound like a nice alternative to the 9-to-5? |
