|
Just how important is the size of a recreational poker player’s bankroll in
relation to their chosen limits? A related article,
Defining Bankrolls, takes
a look at the various ways to determine proper bankroll size in the various
games and formats. This article explores how a recreational player can make
runs at various games with only a cursory consideration for bankroll.
Risk and Reward
One of the regular criticisms by regular poker players about novices is their
lack of bankroll discipline. This is an improper criticism. After all, who is
to say what level of risk I should accept? Only I can determine what my risk
tolerance is.
Now, if I tell you that I am a medium-skilled limit holdem player, and would
like to play regularly at a specified limit, you would probably tell me to
have a bankroll of 300 big bets. Instead, if I tell you that I like to play
poker, but only do it once a year on my Las Vegas trip, are you really going
to hold me to 300 big bets? Do I need $6000 to play $10/20?
Determining Goals
The standard bankroll recommendations are usually made for regular players.
These can be adjusted upward or downward depending on the individual player’s
goals and risk tolerance. These factors should be considered:
- Need for profit. Is the poker player a professional or semi-professional who
needs to earn an income for their time investment, or are they a strictly
recreational player? The greater the need for profit, the higher the bankroll
requirements should be.
- Liquidity of bankroll. Is the player’s money tied up in several online poker
sites with slow cashout policies, or are they strictly a live-game player who
deals in cash? A very liquid bankroll can be much smaller if the player has
other means to replenish it if necessary.
- Presence of outside resources. Does the player have funds outside of their
bankroll to cover living expenses in the event of a temporary setback at the
tables? If not, the player should reduce their bankroll and play lower limits.
- Skill level. A completely novice player that is determined to play regularly
without re-depositing should play at substantially lower limits until their
skill catches up with their bankroll.
- Gambling mentality. Specifically, this asks how much the player wants to
risk in relation to their potential return. A “tourist” player might save
$1000 as a bankroll for their annual casino trip. This player might be
happiest playing $10/20 or $15/30, where the entire thousand could be lost (or
doubled) in one or two sessions.
- Frequency of play. If you play online poker three or four days per week, you
need a fairly substantial bankroll to avoid constant deposits and withdrawals.
- Ability to replace bankroll quickly. If you have a regular job and some
disposable income, you can take a bigger risk with money, knowing that you
will be able to replace it in a week or two.
- Previous profit cashed in. If you have pulled previous substantial winnings
from your poker funds, you have some flexibility in this regard.
- Playing style. If you like to make big bets on draws, playing the odds for a
potentially larger payoff, your variance will be high and you need a bigger
bankroll. If you prefer to grind out profits in small chunks, a smaller roll
is fine.
- Quality of opposition. Ironically, weaker opponents mean bigger variance for
you if they are not selective.
All of these factors should be considered when the player picks a limit. I
have no place criticizing you for playing $10/20 with $1000 unless you tell me
you’re trying to go pro. The only real risk of playing on short money is
missing out on an opportunity to make a great bet later because you lost your
current funds. Short money players are only affected by the fear of busting
out if they allow it. A weekend gambler might simply not care.
Playing Various Games on Short Money
Limit Holdem can be played on short money, although you should try to keep at
least ten big bets on the table at any time (a fully capped pot requires 12 BB
from each player). For every chip you are short of 12 big bets, that is one
fewer chip that you can win if a big pot comes along.
No-limit holdem can also be played on short money, but rather than play one
single maximum buy-in, it is probably better to spread your risk by buying in
for less than the maximum several times. Although you are giving up something
by not having the chance to take an opponent’s entire stack, this is a
slightly lower-risk way to play these games short.
Omaha games tend to be very loose at low stakes, so by playing any amount of
time without 12 BB (or a full stack at pot-limit), you are probably giving up
too much potential
Sit-and-go tournaments do not lend themselves to short money play unless you
expect to replenish your bankroll soon. Entering 10 SnGs at $10+1 with $110 is
infinitely better than a single $100 SnG. What if you lose with AA all-in
preflop on the first hand?
MTTs also require you to have funds in reserve. Since only ten per cent of
players win a prize, it is possible for even very good players to go several
tournaments without cashing. The only exception here might be the player who
enters a weekly $50 tournament after receiving a paycheck. Even though this
person’s bankroll is essentially $50 every week (and they play it all each
week), their effective bankroll is really $2500 for the year, or 50 times the
buy-in.
|
