Live Poker Cash Game Bankroll?
- 1 What is poker bankroll management and how does it work?
- 2 What is the poker bankroll calculator?
- 3 What happened to Doug Polk’s poker bankroll challenge?
What is poker bankroll management and how does it work?
What is Poker Bankroll Management? – Poker chips Put simply, poker bankroll management is the practice of controlling your bankroll so that you never risk more money than you can afford to lose, That means understanding and accepting the fact that variance (or luck) is a part of poker and making sure that the amount of money you’ve set aside for poker can handle the swings that come with playing a high-variance game.
Therefore, proper bankroll management demands a level of discipline and restraint when it comes to how much money you put into any given poker game. It is also important to remember that bankroll management is not just about preserving your funds; it’s also about making sure that you are playing at the right stakes for your current poker skill level.
In short: you need the right poker bankroll management strategy to win, whether it’s on the green felt in card rooms around the world or at any of the many poker apps out there.
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What is the poker bankroll calculator?
Poker Bankroll Calculator This poker bankroll calculator allows you to work out which limits you should be playing at in poker depending on how much money you have in your bankroll. This calculator is based around the rules of basic no limit Texas Holdem, which are:
- You should have at least 20 times the buy in for,
- You should have at least 40 buy ins for SnG tournaments.
This bankroll calculator will tell you; which limits you should be playing at, how many buyins you have for that level, how much more money you need to win to move up to the next level and advice on how to approach the games at your limit.
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What happened to Doug Polk’s poker bankroll challenge?
Lessons from Doug Polk’s $10,000 Poker Bankroll Challenge – In August of 2016, Doug Polk launched a poker bankroll challenge, with the goal of turning $100 into $10,000. Doug grinded this challenge often during the first few months, but progress has slowed to a crawl since then.
Now, Doug sporadically streams bankroll challenge sessions, and probably won’t complete the challenge anytime in the near future. That said, Doug has managed to grow his $100 to $1,364 in 40 total sessions. Throughout these challenge sessions, Doug explained and demonstrated the principles discussed above.
High Stakes $50/$100/$100 w/ Mariano, Jiang and Vivian – Live at the Bike!
Figure out your bankroll, and treat it like an investment: Doug decided to start with just $100, giving him 50 buy-ins for NL2 and 100 buy-ins for $1 Tournaments and Sit & Go’s. Figure out what games you want to play: After a couple of days of hopping around different formats, Doug decided his best course of action was tournaments and Sit & Go’s, even though he is a heads-up cash game player at heart.
- Why not exploit this edge? After playing micro-stakes cash games for the beginning of the challenge, he came to the conclusion that the rake was too high to maintain a satisfactory win rate.
- Moreover, Twitch regulars were hunting him down for the chance to play against him at a discount.
- That made it clear that tournaments were his best bet to survive the challenge.
Play within your limits. Doug started the challenge with every intention to stay within his self-imposed limits, but he soon realized, again, why the limits were there in the first place. Doug became understandably bored of the micro limits and took some shots.
- A few paid off big, but one threatened his hopes of completing the challenge.
- He started the challenge playing NL2 cash games and moved slowly but consistently up in stakes.
- After finding the rake in cash games too brutal to continue, he moved on to tournaments.
- That strategy worked until session 13, when Doug decided to jump from NL4 all the way up to NL20 heads-up cash.
His reasoning was sound, since he or course had a big edge over every average heads-up player, but variance had his number. After a bad run in a series of matches, he ended the session with a $269 loss, losing almost 75% of his bankroll at the time. Doug demonstrated a valuable lesson for his Twitch viewers: Playing under-rolled nearly cost him the entire bankroll. Poker Charts (picture above), for instance, is a online service that allows players to manage their bankroll and analyze results through their website. Keep in mind this is a paid service with a free trial option. Some other options include:
Poker Dominator My Poker Bankroll Poker Bankroll Tracker
These tools are mainly for live players. For online players, I recommend PokerTracker 4 or HoldEm Manager,
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What questions should I Ask my bankroll when considering online poker?
Skip to content Cash Game Bankroll Management YPD 2021-11-11T18:31:39+01:00 Typical bankroll-related questions when contemplating online poker are which limits you should play, how much money will be required, when can you move up limits and so on. All of these and more are why we need to invest some time thinking about Bankroll Management (BRM).
In this article we’ll explain what BRM is, how it works and why anyone who has even modest ambitions of success regarding their online poker career should find a workable, practical and sensible BRM plan and, subsequently, endeavour to adhere to it rather than allow impatience and emotion to throw a proverbial spanner in the works.
What is a Bankroll? A poker player’s bankroll is the amount of money that has been set aside to be used exclusively for playing. It’s a simple concept, but one that is constantly either not fully appreciated or – perhaps even worse – understood but nevertheless abused by those who lack the necessary discipline.
When we say ‘to be used for playing’ that is indeed true, but the aim is to have just the one initial bankroll rather than having to keep starting anew, and to minimise the necessity to return to the well for more poker funds, it’s imperative to get into the right mindset that means treating the whole subject with a level of caution and prudence.
And that’s where sensible Bankroll Management comes in. A bankroll needs to be protected and cultivated over time. Respected. The wellbeing of a bankroll is a poker fan’s main priority. However talented someone might be, the dreaded variance doesn’t differentiate and needs to be factored in when determining what proportion of a bankroll should be invested when sitting down to a Cash game or a Tournament, for example.
- Patience is key.
- Success in online poker involves a long journey – what matters is actually getting to the desired destination, not how quickly.
- The objective of BRM is to minimize the risk of losing a significant portion of the bankroll, setting limits with which we feel comfortable and which simultaneously allow for useful profit while keeping risk manageable.
A classic Bankroll Management fail A player who is just starting to play poker painstakingly saves €500, goes to the casino and sits down at a €1/€2 Cash game table. Even if this player is a poker genius, a Phil Ivey in the making, there’s a very real chance of going bust and having to start all over again by saving up another €500.
This is bad news on two fronts – first, it’s another $500 that needs to be made, but there’s also the time lost. How Bankroll Management should be done It’s worth reminding or acquainting ourselves with the classic fable of the Tortoise and the Hare. The two decide to have a race and, not surprisingly, the much faster hare gets off to a flying start and leaves behind the plodding tortoise, who simply maintains an even pace.
The hare is so far ahead that he even decides to take a nap, is overtaken and, despite a last-minute attempt to make up for his mistakes, ultimately loses. The motto of the story is ‘slow and steady wins the race’ – a concept which those of a certain age might justifiably claim isn’t fully appreciated by those of the modern generation who are sometimes guilty of instant gratification.
There’s simply no place for impatience in poker generally, and in terms of BRM it is the cause of not only many a failed career, but of overly ambitious, reckless players not even giving themselves a chance to succeed. A good and eventually successful poker player correctly considers the game as an overall investment (made up of many minor investments) which, of course, as well as yielding positive returns, can also lead to losses.
In the best case (long-term) scenario you invest only if you make profits, but even then you will experience fluctuations and losses in the short and medium term. A bankroll must be able to comfortably sustain these so-called swings in order to sufficiently minimise the risk of going bust.
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