Wednesday, March 3, 2010

New Deal

So i re worked my backing deal with Draqq's PF group. My current deal right now is 75/25 cut my favor, which is good, but i got a new deal that fits me better imo.

The new deal is a 2k salary, that i can cash out at the start of each month, so im gaurnteed 2k a month no matter how good/bad i do.

After i make 2k in a month, i ship them back 100% of the first 2k, and then any profits for the rest of the month go 60/40 my favor.

So if i made 6k in one month, the first 2k would be my salary, and then i would keep 60% of the other 4k (2,400) and they would get 1,600. On the old deal 75% of a full 6k is 4,500$, so i would be losing out on 100$ if i profited 6k, and more than 6k i would lose out on a bit more.

I also have a game requirement i must reach in order to keep my salary, which is 3k games, which i fully plan on making each month. So with that kind of volume, making over 6k each month in sngs should happen just about every month, but this deal is better for me for a few reasons.

A - the game requirements. 3k games is about 100 a day, which is about 5-6 hours of playing, or about 40 hours a week, just like a real job. Without this game requirement, i wouldn't have the motivation, and i would fall short of 3k games on most months. This will make me play more, which will increase my profits/rakeback for the month, which should make me more money.

B - I am moving out, and i need to start be responsible with my money, and my profession as a poker player. The 2k a month alone would alone cover bills / expenses. Not too mention with 3k games, i would be making somewhere around 1.5k a month in rakeback, plus with my PF that just kicked off, that should be at least another 1k a month. So if you do the math, if i profit 2k or less in sngs in a given month (which would be running extremly bad), I would still be making roughly 4.5k a month anyways. So with this kind of a deal, it doesn't matter how badly i run, i gaurntee myself to make 4.5k a month, which is 50k a year, not too shabby.

So basically, 50k is the absolute worse year i could have, but my goal for this year is twice that. I am aiming to make 100k by the end of the year, and i fully intend on doing so.

So time to grind imo

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