The Frugal Canadian

A frugal spender seeks to find new ways to save money and increase her net worth.

Sunday, January 29, 2006

Profitable Hobbies

It's been awhile since my last post. What have I been up to? At the risk of losing all credibility with my readers, I'll confess. I've been playing online poker trying to play enough raked hands to earn a $50 bonus.

In the summer after watching my fiance play online and having him teach me the game, I decided to deposit $20 into an online site. If I lost it, I vowed never to deposit another cent. It was an entertainment cost when I was bored one Sunday afternoon. Three weeks later, my poker bank roll was up to $200 and I withdrew my original investment of $20. Now that I'm getting a little bit more experienced, I've started to bonus whore. This means, moving money around from site to site, in return for the site granting me a bonus for the amount I deposit once I play a certain number of raked hands. My poker bank roll is now up to $600 of which $125 is from bonuses from a couple of sites.

I'm NOT suggesting that everybody go out and start playing some online poker. Many people develop serious gambling problems and it's not a reliable source of cash flow. Poker is however a good source of entertainment for me and as it turns out profitable. Instead of going out to rent a movie when I'm bored one night and shelling out $5 at Blockbuster, I am now more likely to play some poker and hopefully earn some money. I should also note that I'm excluding my entire bankroll from all investment and net worth analysis since I could lose it at any point.

4 Comments:

At 9:28 PM, Blogger Humble Investor said...

Hmm ... have you considered blogging about the ins and outs of online poker? Somehow I suspect it would be very popular.

 
At 8:04 AM, Blogger The Frugal Canadian said...

I'm really just a small time player only playing the 25cent tables. There are a lot of interesting poker blogs out there. For a woman's poker perspective, check out this one: http://www.noninetofive.blogspot.com/

 
At 12:34 AM, Blogger Perpetual Trader said...

There is a website dedicated to poker bonuses. Check out http://www.bonuswhores.com/

Cheers.

 
At 8:36 AM, Blogger The Frugal Canadian said...

www.pokersourceonline.com is also a good site for bonuses. PSO Points can be accumulated and used to redeem gift cards from Amazon and BestBuy as well as other merchandise. These items can easily be flipped for cash on the site's forum or ebay

 

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