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Old 10-02-2007, 05:57 PM
KurtSF KurtSF is offline
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Join Date: Jul 2006
Posts: 3,983
Default Re: Bankrolling 17 year old kid

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A relative has guaranteed him 11/hr. at Walgreens. I told him to consider poker first before going for it. He can always get the job anytime he wants to.

I made it clear that my offer is an offer. Not a command or a request. He says he will take the offer. He is a very good student.

The reason I made the post is to hopefully get some advice on how I should go about maximizing his learning in the least amount of time. Purely self taught without any instructions from me.

I never told him that it should be a career. It's just another subject in school but with a potential for income. But not a career.

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You are giving him an income opportunity. Don't ride him like a horse who has to make profits for you. Give him the money, an let him make his own choices from there. Regarding your OP and specific advice.

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I want to bankroll him $1,000 on his 18th birthday under a few conditions.

Here are the conditions:

Read Theory of Poker, Poker and Emotions section of Inside the Poker Mind, HOH I and II before turning 18.

Once 18, give him a small bankroll with choice of games and limits under my strict supervision. He will play 100 1 table SNGs, 100 shorthanded SNGs, then play 500 heads up SNGs. Probably on Fulltilt.

After playing all of the above games, he'll read Poker Tournament Formula, Kill Phil, and Making the Final Table, maybe the Fulltilt tournament book as well.

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(1) The "syllabus" for this endeavor should be, in no particular order:

* TOP
* SSHE
* HOH1 and HOH2
* PNLv1
* SnG by Moshman
* something on BR management

(2) Do not pick what games he will play! Let him read the literature, try out the games, get a feel for what he enjoys, and get a feel for where he has edges. Let him decide which edges are most +EV for himself, and allow him the autonomy to pursue them.

(3) Do not dictate how much he should play! Every poker player is different. Some multitable 20 SnGs at a time, other's single-table ring games, etc., etc. Again, by granting him autonomy for deciding how often and how much he plays you maximize both the probability and the ceiling of his success.

(4) Give him a poker bankroll, not money. Do not let this ever be money. (At least until he's an established winner and wants to cash out some money for toys. If you want to give him money, give him cash to do with what he pleases, which at 18 should be crappy used car.) Set up the poker account yourself, and on his 18th birthday give him access to the account with a thousand dollars in chips already in it. Stress that this is "free" play and a gift from you, and that there is no shame or guilt about losing it all, while simultaneously emphasizing good BR management and that the goal of this "game" is to not go bust. I would suggest Full Tilt Poker, mainly because the $600 first deposit bonus will provide a nice cushion as he learns the games and learns to deal with variance.

If this kid is as bright as you think he is what you want to do is give him the tools to pursue his interests and let him run free. You want to minimize any limitations as much as possible. Trust me.
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