ITT: We share financial secrets that we know off, that enables us to gain an advantage over that particular field.
I recently saw a couple of threads on /biz/ regarding gambling, and since I've been playing poker for quite a while, (but no longer do because I'm now back in Ethiopia after 4 years in the UK for educational purposes) I thought I'd share a few tips that I've gathered along the way.
You might ask why I'm being generous enough so as to share a "secret", (which surprisingly isn't common knowledge amongst gamblers) such as the one I'm about to write down and create unnecessary competition for myself, but like I've said in the preceding paragraph, I'm no back in my native country and unfortunately, my winning days are now over because the internet here is expensive, to say the least; and even if it was affordable, there's no way for me to resume my winning streak because the country doesn't have online banking nor does it have foreign currency for me to play with. #forcedtobenocoiner
Most people involve themselves in gambling without prior knowledge or understanding of how things actually work, same goes for forex, which I think that no one ought to dabble in unless they've got a degree which gives them an edge, (preferably in Finance or Economics) and/or have a mentor that helps them take their first steps without them breaking any of their bones in the process.
As you may or may not know, the primary form of income for internet poker sites, such as Donkeystars; FullFraud; etc... is RAKE. That is also the poker player's greatest ennemy since it has the ability to bankrupt anyone who doesn't properly engage it.
If, for argument sakes', I were to play NL Hold'em in ring games on any one of those sites, taking great precaution to minimize my risks and making use of any of the well known methods to gain an advantage, (bankroll management; utilizing poker softwares; tracking and keeping notes on other players; fish-baiting; scrupulously picking my tables; etc...) I would still end up loosing in the long run.
Why? Because as magic puts it, "once you're rigged to lose, you're rigged to fucking lose". Donkeystars or any other poker site is flawed despite what others' might think. But, if you choose not to delude yourself and decide to accept this fact and confront it, there is a way around it.
>>1386908
See, unlike ring games whose rake is taken every single pot, STGs or Sit N' Go games, (nb: STGs and tournaments are two different games which require different strategies) are raked only once at the beginning of the game. So if I were to play STGs and only STGs, I might end up winning in the long run. Like I said before, ring games are taxed accordingly every hand, so the greater the pot, the greater the rake, the greater the profit for poker sites. Do the math. Players often find themselves being set up by the sites in order to tempt them to invest the maximum in a pot only to lose in a hand whose percentage of them winning was 99.99% up until the river... of course, haha! But... STGs are different, the rake is collected only once so how big the pot is, or who wins really doesn't make no difference whatsover to the site, so it's unlikely that they involve themselves as they do with ring games. There's also countless other advantages to playing STGs only which I won't get into because that would require me to write a book or at least a pamphlet about it. It's possible to minimize the risk to such extent that "luck" is out of the game altogether.
Thanks! And, I'm eager to read what some of you might have in mind that could possibly help me prevail here in Ethiopia, most of what you initially propose won't apply because Ethiopia is far behind, both technologically and economically, that and the gov' has monopolized many sectors so it's near impossible to enter the field. Think 10-20 years behind, lag yourself a little and give me ideas which you'd think off if you were at the advent of the internet, the stock market, commodity trading, etc... Most people are wagecuck here in Addis, but I want to make it, /biz/ and I trust that you've got the answer for my problems.
Also, general 3rd world /biz/ ideas.
>Tl;dr... This is a thread for intellectuals, GTFO with your shitposting.
>>1386906
Ethiopia... stopped reading there, bye.
>>1386911
How would you advertise in ethiopia? Do people use facebook?
>>1387034
They take chicken shite and smear it on the walls. Ex: UNGAWAWEY MOGADISHU 666-6666-clickclickbloopsound
>>1386911
Most lucrative sector in 3d world countries is good transports
The roads are badly maintained and it's a pain to make a truck comme to somewhere else than addis
Try starting a transport company focusing on b2b
Identify which companies and sectors need it the most and from where to where
If you can setup a truck buisness then you're good but you'll need massive investments
Your goal should be to take the monopol for trains and/or planes, with a little lobbying you could get the government to hand thoses sectors to your company.
An idea to help you: try to raise funds for improving a road that is crucial for goods and be the first to get your trucs there.
You have 2 advantages: -you can fund the roadwork by a NGO or crowdfund it as an "humanitarian project"
And use the remaining money to buy trucks
-2nd hand trucks are cheap in Africa, if you can try to get tracked vehicules from the civilwar they should be cheap and easy to operate on shit roads
>>1387034
pic related
>>1387132
thanks that's actually pretty interesting
>>1386911
Wait, I'm confused.
If you're playing with 3 people or more, you should always collect the rake before you flop, or the river?
Sorry, they call the cards different names here.
I'm in Chad.
I guess he runs the country, or something.
>>1386911
>Most people are wagecuck here in Addis, but I want to make it
I heard there's huge potential in the east african region. Somalia, ethiopia especially.
Like chinks are investing loads into africa. They probably know that there's great opportunity there so just keep your eyes open.
>>1387024
>>1387085
>>1387147
>Not realizing that so-called "3rd world countries" are the future.
Why do you think I moved back here when I could've easily asked for asylum in the UK?
I'd tell you about the many advantages of working in a developing country whose economy is currently booming but even then you'd be incapable of seeing past your racist and shit-tier way of thought.
It's always the plebs that are racist and xenophobic nowadays.
>>1387034
Yes, they do, but it's mostly the younger generation.
>>1387132
Good point, but that would require for me to have an incredible amount of starting capital, which I don't currently have in my own name. As a twenty-one year old recent graduate in economics, I'm more looking towards starting a service based business with the younger population being my main target, as of now I am thinking of establishing a Chess Academy or a broker tuition service where I pay high-school students (grade 11, since they've got exams in grade 10&12) from public schools who study the Ethiopian curriculum to tutor Ethiopian students from private schools who study mainly foreign curriculum (like myself, french) but also have to pass the national exam like the others. I would provide a common room for them to meet-up and study. I'm also thinking of entering commodity trading but you have to buy a seat first in order to trade because you can only do so from the trading floor and like I said before, don't currently have the funds needed. And, they're all bought out so you can only buy one from another person and not the gov' so the prices are incredibly high. But, launching an NGO of some kind and embezzling the funds are a great option but are also very common. Yep, hate to disappoint but "the only £5" you pay monthly for that starving child in Ethiopia is currently lining the pockets of an economic predator. And, as far as illegal activities go, Loan Sharking & starting an underground poker business is also on the list.
>>1388486
Yep. It's what >>1387024 >>1387085 >>1387147 failed to comprehend. They express their laughable racist views because they think that foreigners are taking their coal mining jobs but if anyone here is entitled to be racist, it's probably me, haha! The Asians, and mainly the Chinese are currently flooding our country, but unlike those three I recognize that it's beneficial to my country's economy and it motivates me to even work harder because I don't want someone else to come and take the gold from my doorstep whilst I sit with my arms crossed.
>>1388478
The flop consists of the first three cards that are laid on the table, the turn is the next and the river the last. In-between there are rounds of betting. The rake is what the poker sites or the casino collect on a percentage based system once the hand is over. What you're probably referring to is the ante which is posted by players at the start of every hand, usually in the late stages of a tournament or a STG table to incite players to involve themselves in the pot and to set a time limit of some sort because it will keep going up the longer the tournament or STG lasts.
>>1388653
I used to play either the 45 (fav' because you can buy'in with a little to nothing and walk out with an incredible amount without having to sit there for what seems like days for tournaments, and it's also a great training field for those wanting to play tournaments later on) or the 18 players one on Pokerstars, but most of my ROI came from playing high buy-in single table 6 players STGs on PKR (not shilling) because most of the poker players that play on the site are not there to gamble, they're either old people looking to socialize or fishes attracted and later on distracted by the 3D graphics. But, if you opt for the latter, I suggest you tag every player that sits on your table, and look them up on the internet site before you begin playing, because for every 10-15 fishes there are 1-3 sharks, like myself who only play STGs.
>>1388653
OP here, I'm currently using dial-up, hence why my IP keeps changing.
>>1388656
And, I forgot to mention, the single table 6 player STG I used to play on is turbo, meaning that the blinds goes up faster than usual and the ante is introduced mid-stage. I choose that one because most players there were extremely conservative with their bets and usually like to sit on their stacks for quite a while. And, if I had to offer another tip, I'd suggest you only play a single table, no matter what others say or think whilst they're engaged in multiple hands with 2-3 monitors thinking that they're the shit, they always break even, and they're extremely easy prey if you use the search function and realize that they're multi-tabling, you can easily get them to fold most of their hands whilst bluffing because they don't consider this when they play on more tables than 3, they either fold when they don't have a hand, or bet when they have it, so predictable. And, final tip, apart from playing STG don't forget to practise your heads'up gameplay with a 2 person STG table because most of players lose at that stage. It's devastating to end up second when you could've easily had first place.
