Online poker bankroll buildingPosted on April 6, 2010 in Poker Advice
The most important factor that will determine your success or lack of it at the online poker tables, aside from your ability to actually play winning poker, will be your bankroll management skills.
If you cannot manage your bankroll properly, then no matter how good of a poker player you are, you are facing an up hill battle.
Most poker players will tell you that you will need to have a certain multiple of the stakes that you play at. So, for example, if you play $1/$2 limit Texas Hold’em, then you should buy in with at least 100 times the big blind, which is $200 (100 x $2) and you should have a bankroll of at least 20 times your buy in, which comes to $4,000.
Immediately, most players will intuitively feel that these numbers are wrong. A lot of players can cite many examples of having a much smaller starting amount and having had success at the $1/$2 tables.
And of course they are correct. You can get away with a much smaller starting bankroll and have success. But the risk of losing all of your capital is much bigger when you are underfunded, even if you never go broke.
Using the above quoted figures, a player would need $40 to play the $0.01/$0.02 stake games. And they would need to double that from playing those stakes in order to go up to the $0.02/$0.04 stake level.
It will obviously take a heck of a long time to double your bankroll from playing these stakes.
But there are a couple of important things that should be factored into the calculation too. If you did actually have $4,000 to invest in your poker career, where exactly would you put it?
Would you deposit all of that in one go into your chosen poker room? Even the bigger deposit bonuses that are available from online poker rooms don’t generally reach into the mid thousands. Most poker rooms only offer a deposit bonus amount in the region of $500 or $600. So depositing more money than that required to attract the maximum <a href=”http://www.fbnpoker.com”>poker bonus</a> could be considered to be a poor bankroll management strategy.
So you would deposit the maximum amount that will get you the maximum bonus, say $1,000 as a handy example. Where would you put the other three thousand of your bankroll? Leave it in your payment processor account, or your bank? Sure, why not?
So if it is not in your poker account, do you really need to have it? Having access to it is more important than actually having it and putting it on the table.
So you have access to it. Either it is in your bank account or you know that it will be soon. That is really good enough.
The other thing to consider that can influence how much you will really need as a bankroll is your style of play. If you sit into a game and blow your starting amount (100 x big blind) of say $200, then what do you do? Do you reload your stack at the table? Do you choose a different table and buy in there for the full $200? Or do you call it quits for the night and come back tomorrow?
If you believe that you can, and regularly do, walk away if you are having a losing night, then you really only need enough buyins to last you until your next source of funding comes available. Many players will fund their online game from their paycheck, so that may be weekly or monthly. If you will have to wait for a month before you can fund your account then having 20 buyins will be a very useful safety net should your luck run cold.
But if you get paid weekly, there really is no need to have more than seven or eight times your buyin in order to play like you are fully funded.
Of course if you are the type to rebuy again and again no matter how the cards are going against you, then you will need to reconsider the number of buyins you will need to play comfortably through a bad spell.
Things sure do move fast in the online poker worls at times. It can be like a fulltime job just keeping up with the changes that seem to happen all the time in the poker industry.
Poker rooms close down, new ones open up, new laws are passed, new restrictions are put in place, even paymnet processors close down from time to time.
You might be tempted to just keep you head down and play poker, but it can pay to keep up to date with the latest events. Not losing your bankroll because you knew that your poker room was in trouble would make the effort more than worthwhile.