Joined: Sat Oct 25, 2008 7:52 am Posts: 1184 Location: Cleveland, Ohio
I am now living in a city with a casino and poker room, thanks to last night's opening of the Horseshoe in Cleveland. So, I will likely be playing poker somewhat more frequently and hopefully making some extra money. Because I am an ubernit in real life, I wanted to set aside some money as my poker "bankroll" -- in quotes because I could supplement that poker money from my 9-5 but doing so would be painful for me -- not financially, but emotionally and thus would be something I prefer not to do. Also, I have found that keeping a separate pot of money helps me to overcome my natural nittiness and allows me to play with the money, rather than being afraid to lose it.
I have not gotten a full rundown of the games at the Cleveland Horseshoe, but based on the games I saw in Chicago and my poker experience I suspect that I will be playing mostly $1-2 no limit and $3-6 limit for the foreseeable future. I will likely be playing mostly Friday night or Saturday night -- both because that fits into my work schedule and because I suspect those will be the most likely times to find fishier competition. In my limited play at no limit tables, I have tended to feel most comfortable buying in for a less than the max -- usually $200 and having a second bullet in my pocket. For a $3-6 limit game, I'd normally buy in for $100 and have another $100 to top up my stack if needed.
My thinking is that I should take 12-15 of the higher buyin amount as my base "bankroll" -- so around $2500 to $3000. I know that this is lower than the 50 buyins or 25 + six months living expenses that I've seen for pros, but I won't be playing full time or taking any living expenses out of this.
So, does this seem like a reasonable place to start?
Also, for pros and regular players who maintain a separate roll, do you keep a decent amount in cash or do you have a separate bank account for your poker bankroll?
And yes, I am enough of a nit that I hate the thought of missing interest on my money, even at today's crappy rates.
Dave
_________________ The opinions in this post are my own and do not necessarily reflect the views of The Poker Atlas, AVP or PokerTrip Enterprises.
Joined: Sat Dec 19, 2009 8:33 pm Posts: 557 Location: Wherever the bed bugs call home
depends on how good you are, and how good the competition is. buyin requirement goes down as the skill disparity increases.
if you lose 3k playing 1-2 live, you need to: 1) reassess your game 2) find a new game
so in short, you'll be fine, because you aren't living on your roll, and you can supplement from your 9-5. but instead of doing that, just make a spreadsheet, then you don't have to have a separate bank account.
and lol@interest, gl w that.
_________________ "I would rather make the gravest of mistakes than surrender my own judgment. "
I am a recreational player. My local casino is about 2 1/2 hours drive away so I don't play as often as I'd like to. I take a poker vacation about twice a year for about a week at a time. I play the same limits as you but also mix in the occasional 2/5 game, tournaments, and some blackjack. I have been keeping a separate bankroll for poker that is a little bit higher than yours (3500 - 4500) which has worked great for me. I use the Poker Income Pro app on my iPhone to track my sessions and it also keeps track of my bankroll balance. I keep my bankroll in a safe at home so I always have access to it in $100 denominations without needing to go to the bank. This helps me monitor my results over long periods of time. By having a dedicated roll I don't have to worry about saving up for my next vacation and I always focus on growing the roll over time, which is a fun challenge in addition to the entertainment of playing. Like you, I can always supplement from my job but I haven't had to yet. I am going on my next poker run to Vegas next month. Last time I went I didn't have any tournament success so I'll play fewer tournies and more cash games to try to recover my deficit from last time, so my results impact my game selection strategy. I'd recommend cultivating a separate bankroll for any semi-serious recreational player. Good luck growing your roll!
I think you may find these two articles that I wrote on bankroll management, moving up in limits, and risk averse shot taking useful. Take a read and let me know what you think.
As far as bankroll in cash or in the bank I'd advise investing what you don't need in a penalty free account that you can withdraw from if necessary. I'd keep a working bankroll in a safe box at the casino or somewhere that you can access it 24/7 in case a great game breaks out & you need to put the money in play.
Joined: Sat Oct 25, 2008 7:52 am Posts: 1184 Location: Cleveland, Ohio
NegligencePerSe wrote:
depends on how good you are, and how good the competition is. buyin requirement goes down as the skill disparity increases.
if you lose 3k playing 1-2 live, you need to: 1) reassess your game 2) find a new game
so in short, you'll be fine, because you aren't living on your roll, and you can supplement from your 9-5. but instead of doing that, just make a spreadsheet, then you don't have to have a separate bank account.
and lol@interest, gl w that.
Negligence -- I really just started playing NL live and didn't play much of it online before Black Friday, so I have no clue how good I am. And I've been constantly evaluating and reassessing my play, since I feel like I am really learning the NL cash game.
I already have a spreadsheet set up from online play and in about 90 hours of live NL games am basically breakeven -- down under 1 buyin following 3 straight ugly sessions. I know it's nowhere near enough to base anything on. That ignorance of how good I am, combined with the fact that I felt like a separate roll would help me to overcome my nittiness a lot, is why I decided to go with a separate bankroll.
Austin -- From what I've heard no tourneys for a few months at Horseshoe, so other than a once a month home game (for $20), no bankroll worries there. And I don't play anything other than poker, so nothing to worry about there either.
Benton -- I've read both articles before, good stuff!
Thanks for the advice and please keep it coming!
Dave
_________________ The opinions in this post are my own and do not necessarily reflect the views of The Poker Atlas, AVP or PokerTrip Enterprises.
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