Playing on Credit at a local spot

[Arbitrage]

[ QUOTE ]
wouldn't he let you grind out some box time

[/ QUOTE ]

sounds kinky

[just2nice4u]

i kno exactly what u mean dimeetrees the only difference with me is i owe a dealer who covers for me @ the end of the night, i use to play at his club a lot, and alot of people ran up debt at his club but he really had no collection method, i feel bad that im kinda stiffing this guy but i don't have the cash now, but i kno he calls a whole lot of other people who owe him and they dont answer when he calls, at least i have the decency to

[Rottersod]

[ QUOTE ]
people still sell debt?

[/ QUOTE ]

Of course. There are plenty of people who are willing to loan but don't want to go through with the hassles of collecting.

[Rottersod]

[ QUOTE ]
yes, but its rarly like you saw in rounders, usually its someone who knows he can collect, and therefore is willing to pay .75 or .05 on the dollar to the indebted party to buy the note, it can provide a lucrative profit.

[/ QUOTE ]

That's a pretty big spread. I'd hate to be on the payee end of a note that someone bought for .05 on the dollar. [img]/images/graemlins/ooo.gif[/img]

I sold off a debt (not really a loan - he played on house credit after he ran out of cash to buy in and at the end of a few sessons he still owed me and one other guy) from a home game late last year for .55 because the guy skipped town and I didn't want to go through the hassles of hiring a skip tracer and then going out to meet him wherever he ended up. I don't think that he has been found yet though so my deal is looking OK. I think he may have gone back to The Phillipines.

[dimeetrees]

I dont play in the city, so i think u got the wrong guy.

[ QUOTE ]
I think I know who you are talking about (small world), you will get your legs broke if you dont pay up.

1 - Playing live is no longer the smart way to learn, I reccomend using a simulator like Poki - its rather realistic.

2 - It sounds as if you might have a gambling addiction, thats not good. I'd quit poker right away if I felt as if I was a losing player, and from your description we cannot tell yet (125 hours is a drop in the hat for poker) but its possible since you dont have the time under your belt yet.


here comes the tough love - stop playing live. Borrow money to pay back the house ASAP, and take a break. Your only going to go deeper into debt, and your not going to enjoy it when they decide to sell your debt to a third party.

[/ QUOTE ]

[jeramy576]

[ QUOTE ]
I have proven myself to be a consistent winner at the game online.

[/ QUOTE ]

What stakes are you a "proven winner" at?

Is this a few 1000 hands or hundreds of 1000s of hands? Everyone goes on rushes.

And like a few others have said if you are a winning online player play there! and grind it up like many players have done. This doesn't mean put $100 on and play 2-4nl either!

[bernie]

[ QUOTE ]
[ QUOTE ]
people still sell debt?

[/ QUOTE ]

yes, but its rarly like you saw in rounders, usually its someone who knows he can collect, and therefore is willing to pay .75 or .05 on the dollar to the indebted party to buy the note, it can provide a lucrative profit. Oddly I was in a discussion about this just 2 days ago with a very well known high limit player who will remain nameless, he sold off his $200,00 loan to another player for $175,000.

[/ QUOTE ]

When the room is involved, you'll usually find it in smaller rooms, not the big cardrooms/casinos. At least that's the only place where I've seen it openly advertised to any degree.

I agree with the others that say not to do this. I'd never play on credit. That should be the first sign that you can't afford to play.

b

[Humble Pie]

[ QUOTE ]
I dont play in the city, so i think u got the wrong guy.

[/ QUOTE ]

Don't worry, we'll find ya...... take what $ you have on you, then break your legs just so you get the message. By the way the juice is running @ 10 pts a week. [img]/images/graemlins/blush.gif[/img]

[Durs522]

Playing on the sheet isn't really that bad as long as you have the money to pay them back. I play that way and it is definitely safer considering all of the raids and robberies lately. I don't know your situation but it sounds like you might not have the money to pay them back every time. This is where it becomes a problem. If you have the money, and aren't playing over your head, playing on credit is definitely the way to go in private rooms or home games.

[*TT*]

[ QUOTE ]
Playing on the sheet isn't really that bad as long as you have the money to pay them back.

[/ QUOTE ]

correction - pay it back the same day. You shouldnt play on the sheet unless you pay the same evening, period - its unsafe any other way for all parties involved.