How do you build a bankroll?

Christopher SChristopher S Red Chipper Posts: 53 ✭✭
Hi everyone
I have no bankroll management skills which sucks because I have no room for any mistakes. I've studied a lot about the game from basics, profitable angles, equity, and personal tells. The last thing I have to be restudying is bankroll management which was the first subject I looked at before studying the game itself. I have a hard time resisting to play poker while I'm learning things that are great to add to my strategy. I'm not sure how to get a bankroll started, any advice for this? Does anyone have any history on how they made a bankroll. I feel like I can play poker alright, but making a bankroll seems impossible. I would like to have a bankroll as soon as possible. I need feedback give me ideas on how to get this whole bankroll started.

Thanks, Chris

Best Answers

  • kageykagey Red Chipper, KINGOFTAGS Posts: 2,241 ✭✭✭✭✭
    Accepted Answer
    Chris -
    if you check out the "Popular Tags" on the right of the page >>>>
    under the categories... when you're looking at all post titles...
    you'll see there are a variety of past posts that address "Bankroll Management"

    I'd suggest reviewing those first to see if your question has been asked and answered.

    Best,
    k

Answers

  • Christopher SChristopher S Red Chipper Posts: 53 ✭✭
    Live mainly I do play clubwpt online tournaments first time this month
  • NinjahNinjah Red Chipper Posts: 1,138 ✭✭✭✭
    While you are playing recreationally, you don't need to worry about a bankroll. Just play with what you can afford. Unless you have minimal expenses combined with a well paying job, it'll be hard to start out with a true bankroll.
  • Albert AAlbert A Red Chipper Posts: 96 ✭✭
    I started an "envelope". I put $10/week into it. When I played I took buy-in money from my pocket. If I won, I put the money (less the buy-in) into the envelope. If I lost, the money was just gone. Money NEVER came out of the envelope. I did this for 2 years playing live $1/$2 NLHE and $50 MTT's. By never taking money out of the envelope the money obviously grew. After the 2 years I felt I had enough money in the envelope to start pulling buy-in money from it. Fortunately, for the last 2 years, I haven't had to take any money out of my pocket to play. I now put $20/week and all winnings into the envelope.
    This takes all the stress off of your "life roll" and your home life. You're not playing with the rent money so to speak. I have to respectfully disagree with the guys saying, "If you have a job you don't need a bank roll." Generating a solid roll allows you to play without apprehension and also allows you the opportunity to move up in stakes.
    Good luck! Have fun!
  • Doug HullDoug Hull RCP Coach Posts: 1,793 -
    Get envelope.

    For each session:
    • Decide how much money you are willing to lose
    • If envelope will not cover this, add money until covers
    • Play out of envelope, win or lose.

    For winning players, eventually you stop needing to refill in step two.

    When the envelope needs duct tape reinforcement, you can come up with your withdrawal system.

    The two real keys of this system are: You must win and withdrawals are not covered until it gets ridiculous.
    Co-founder Red Chip Poker,
    Author Poker Plays You Can Use
    Author Poker Workbook for Math Geeks
  • ragin_cajunragin_cajun Red Chipper Posts: 47 ✭✭
    I started with $2000 deposit into my bankroll on Jan 1 2017. I never added anything to it other than winnings from poker.

    One of the things that I think has REALLY helped me a lot is not so much roll management, as roll TRACKING. I use "RunGood", an app on my iPhone, EVERY session. How much I buy in for, how much I cashed out, every session, I now have a nice graph of the entire year's results playing poker.
  • DoubleBarrelDoubleBarrel Hudson Valley, NYRed Chipper Posts: 870 ✭✭✭
    I started with $2000 deposit into my bankroll on Jan 1 2017. I never added anything to it other than winnings from poker.

    One of the things that I think has REALLY helped me a lot is not so much roll management, as roll TRACKING. I use "RunGood", an app on my iPhone, EVERY session. How much I buy in for, how much I cashed out, every session, I now have a nice graph of the entire year's results playing poker.

    Well, if you have $2k to deposit, your options increase exponentially. Between bonuses and rake races, building a roll shouldn't be much of a problem...considering you basically already have one. I think the OP was more talking about the traditional, average beginner who just throws $50 on a site and goes from there.
  • ragin_cajunragin_cajun Red Chipper Posts: 47 ✭✭
    What is "bonuses and rake races"?
  • DoubleBarrelDoubleBarrel Hudson Valley, NYRed Chipper Posts: 870 ✭✭✭
    What is "bonuses and rake races"?

    ?? You don't know what a first deposit bonus is? A reload bonus? A rake race? Of course you do.
  • ragin_cajunragin_cajun Red Chipper Posts: 47 ✭✭
    Online poker bonuses I suppose? But, what's a "rake race"? I've never played online poker. I only play live.
  • DoubleBarrelDoubleBarrel Hudson Valley, NYRed Chipper Posts: 870 ✭✭✭
    edited December 2017
    Online poker bonuses I suppose? But, what's a "rake race"? I've never played online poker. I only play live.

    In that case, I apologize. It's the internet and this site is filled with knowledgeable players so I thought you were playing a game with me.

    If you have $2k to deposit, you're going to get anywhere from a 100%-300% bonus that you will put in volume to achieve. Between that and rake back, you're already making a ton of money. Rake races usually start at 10 or 25NL and simply put: There are points accrued for how much you rake. The points get tallied up and everyone gets listed on a leaderboard. Depending on the payout structure, a percentage of the player pool will be eligible for a prize (escalating to the top, of course) for raking more "points" than other players. If you combine an initial deposit bonus + play at 25NL or higher + play on a site with a rake race - you're well on your way.

    Different sites allow you to clear bonuses faster or slower, or even via different methods (game formats). BetOnline offers bonuses that even recreational players have a good chance at clearing while on a network like WPN, unless you're playing at 25NL (which is brutal) or higher, you have absolutely no chance of clearing the bonus or ever qualifying for "The Beast" (their rake race progressive leaderboard). So, a large part of determining where you'll initially deposit has to do with what kind of a bonus you're being offered, how much money you have to initially deposit, and what games/stakes you're planning on playing.
  • kenaceskenaces Red Chipper Posts: 1,426 ✭✭✭✭
    profitable angles

    ??

    "Angles" are only - maybe +EV in the very very short term

    As far as BR -
    1) be a winning player in the games/stakes you play
    2) save the winnings
  • jeffncjeffnc Red Chipper Posts: 4,842 ✭✭✭✭✭
    edited December 2017
    Understand that the vast majority of people have a job or some savings to start with. "Seed money". In that sense, it's "disposable income", after you've paid your bills. Like something to invest in the stock market.

    What I I think I hear you saying is that you don't have a high paying job and don't have spare cash. In that case, you might want to research online how Chris Ferguson demonstrated building a bankroll with literally $0. It's not easy and takes an extreme amount of patience and discipline. Having said that, if you don't have or practice those qualities anyway, you might not end up being a good poker player no matter what bankroll you start with.

    https://checkingthenuts.wordpress.com/chris-fergusons-10k-challenge/
  • DoubleBarrelDoubleBarrel Hudson Valley, NYRed Chipper Posts: 870 ✭✭✭
  • Gavin GGavin G Red Chipper Posts: 3 ✭✭
    If you have a job after your bills are paid put away a certain amount for poker. Then play lower stakes games that you have multiple buy ins for and stick to those games. Put all of your winnings into the bankroll and do not spend them unless there was some catastrophic emergency because you still have a job. Keep playing and adding your winnings to the roll and also if you can add money that you make at your job that you don't spend each month. Keep building it until you feel that its adequate. Eventually take shots at bigger stakes and keep growing your roll until you have an adequate roll for those games. keep moving up.

    Building a big bankroll and managing it can be one of the hardest parts for a poker player. Realize that even the best players have huge down swings. Don't blow money on stupid things you don't need.

    An adequate roll is something that also depends on how well you handle things in your life. some people say 20 buy ins some say 30. When i quit my job to play poker i had 40 buy ins and also had 6 months of bills in a savings account for emergencies and 3 months worth of bills in my checking so that the first 3 months of my poker career i could put all of my winnings into my roll to make sure it had a lot of cushion. Even playing full time i put all of my winnings into my roll then only withdraw toward the end of the month to pay bills. I take some out from time to time for investing and to put into the stock market, but thats still considered part of my roll and if it was ever needed i could get it out.

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