O-Poker

$50K Challenge

Goal is to turn $2,500 into $50,000 by playing poker PART TIME.
Start Date – 1/1/2006
End Date – 12/31/2006

Plan - I will predominately be playing NL Cash Games, mostly short handed. I usually will play two tables simultaneously. I will start at $1/$2 NL. The starting amount of $2,500 is light for this challenge, but I decided against starting at the $0.50/$1.00 NL level in order to try and give this challenge a kick start. I plan on moving up stakes as I reach 20x the max buy in. (Ex – I will move to $2/$4 NL when I have reached $8,000. $400 max buy-in x 20 buy-ins.)

I will try to average 20 hrs of playing time each week.

I will also be playing some SNGs and MTTs for an occasional change of pace.

From my pokertracker stats it looks like the short handed nl cash games average 75-90 hands/hour. I used 75 for all my calculations.

I based the calculations on the following win rates: (NOTE: Assumed BB = Big Blind because of NL play vs. Big Bet in Limit Play - 1/2 NL BB = 2. Pokertracker calculates this like limit games at 4)
$1/$2 NL – 7 BB/100 hands yields 10.5 BB/HR playing 2 tables – used 10 BB/HR
$2/$4 NL – 5 BB/100 hands yields 7.5 BB/HR; 6BB/100=9BB/HR playing 2 tables – used 8 BB/HR
$3/$6 NL – used 8 BB/HR
$5/$10 NL – used 8 BB/HR
$10/$20 NL – used 5 BB/HR

I have calculated the monthly goals based on the above win rates and playing 2 tables simultaneously an average of 20 hr/wk.

GOALS BY END OF EACH MONTH

Jan - $4,100
Feb - $5,700
Mar - $7,300
(move up to 2/4 NL)
Apr - $9,800
May - $12,400
(move up to 3/6 NL)
June - $16,200
July - $20,100
(move up to 5/10 NL)
Aug - $26,500
Sept - $32,900
Oct - $39,300
(move up to 10/20 NL – can still make it work at 5/10NL – will make the call at the time)
Nov - $45,000
Dec - $50,000

I will post updates as I progress. I will definitely post an update at the end of each month with all my stats and how I compare to the monthly goals.

I have tried to think through this carefully. Let me know if I missed anything.

cmitch