50k a hand...
How much does one's net worth have to be to bet 50k a hand? At least 50 million? 50k a hand and a bad afternoon could lose you a million dollars easy.

 

Net worth and credit line are not necessarily related.

You need a 650k line to bet 50k at most properties.

 

Interesting. But I was meaning how much would someone have to have to his/her name before betting 50k a hand. If I had 650k to my name I sure as hell wouldnt be putting up 50k a bet.

 

After talking to a few people I've gotten surprising answers on credit line and net worth. Might be worth an interesting thread.

I think you should have at least 100x your credit line in net worth, but turns out I'm in the minority.

 

How much credit and or net income is only a part of the equation.

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Net income would also be a factor. I think a person can gamble away 20% of his net income without it becoming too big a problem.

 

Does this mean 100x is too much or too little? I'm in agreement with you that putting up to 1% of your net worth in play is not dangerous regardless of income.

 

100x is way way higher than the average gambler.

Most serious gamblers play well above their means. That's part of the thrill.

 

Many of us have talked about this before. Very interesting and informative thread. Need more like this.
Shifter is absolutely right. Playing over your head is the thrill for gamblers. Being stupid is another subject though.
Net worth play.. After many years of talking to many gamblers 2% of net worth each trip wich adds up over many trips is just about right (All relative).. That's just enough in most cases to make you feel it and get that thrill.

Average bet should be, 1-2% of your BR (willing to lose br). Hardly any of us do that. I think on avg most of us will risk 5 to 10% of BR each hand or more in some cases. So OP, 5m BR but Vegas will let you do that with far less. And 500m net worth.

I have seen some friends/gamblers with a net worth of 20k spend 90% of it in one weekend. That's is a terrible flight home. A true DEGENERATE in all sense of the word and pretty depressing.

 

I have followed poker since around 1990. There was a famous story of Bill Gates playing $3-6 limit hold em at the Mirage. He sent a copy of Doyle Brunson's book to get autographed as he was playing the big game at the time, $300-600. Doyle refused because Gates could obviously afford to play at the top table. Gates response was that his skill level was at the low end, and to him winning was more important than money. At his wealth level, what would a win or loss really change financially anyway.

Then there is the other side of the coin, where Andy Beal was playing poker and the first time they had a big game ($10k-20K) the pros that were in Vegas at the time pooled a bankroll together and played him heads up. Ted Forrest was on his way back to town and called to find what the big game was at the time, expecting something along the lines of $400-800. When he was told of the game going, he went directly there, took all of his bankroll from his deposit box and sat down.

I love reading gambling accounts from very big players, or very colorful players. This post will make me search on Amazon for any new gambling story books, as I haven't looked in a while.