Wednesday, May 25, 2011

Cashing Out.... Sort of

In light of this week's furtherance of Black Friday (Black Tuesday?) and the indictments of 10 new poker rooms, I decided to pull some of my money out of Carbon. Fortunately, I've been beating the game pretty good there, so I decided to yank approximately half of my 'roll, leaving a respectable $180 behind. In other words, I've gotten my initial buy-in back, plus some profit, and now I'm effectively free-rolling on the site. The big question now is whether I continue to follow this MO. I.e., should I build the 'roll up to $300 or $400  or so, cash out half, and then do this over and over? The problem with this approach is twofold: 1) I never really build the 'roll up high enough that I can play at bigger stakes games (and therefore make more $/hour); and 2) the vig that gets charged is pretty high. Carbon hit me for a whopping $15 check processing fee to pull $160 out. This is pretty high, so I'm tending to lean toward building the 'roll up to a higher amount before cashing out. Maybe $500-$750 or so. Dunno. The $15 fee is fixed, irrespective of how much is withdrawn, so the higher the amount I can pull out, the lower the percentage the fee represents. But this means I have to build the bankroll up higher, which in turn means that I'm risking my money online longer. I'll report back later after I figure things out.

If you haven't yet signed up on the Merge Network (Carbon, Black Chip, RPM, et al), by the way, I'd do so now. Even if you don't deposit at this time, you will supposedly be grandfathered into the rakeback promotion that disappears next week.

In other Show-Me-The-Money news, I received my PokerStars bankroll cashout check in the mail yesterday. Kudos to 'Stars for their excellent customer service.

Now the question is: Where the hell is my Full Tilt money?

Fasten your seatbelts, fellow poker players. It's going to be a bumpy time.
All-in for now...
-Bug

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