How Do I explain bankroll management?
 

I just got some money for Christmas and my significant other is pushing me to use the money to buy into the $1/$2 blinds, $200 max buy-in no limit game at one of the local casinos. How do I explain that it would be a better investment to put the money into an online account and play 1 cent/2 cent No Limit.

One of the problems I face in getting her to listen is that she believes in me and my poker playing ability totally.

Re: How Do I explain bankroll management?
 

You explain it by explaining the premise behind BR management: that in the short term poker is all luck. In any one session you can sit with a buy-in and lose it through no fault of your own if you get unlucky.

The only thing that ensures the skillful player wins at the end of the day is that he has sufficient funds to ride the ups and downs.

Re: How Do I explain bankroll management?
 

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I just got some money for Christmas and my significant other is pushing me to use the money to buy into the $1/$2 blinds, $200 max buy-in no limit game at one of the local casinos. How do I explain that it would be a better investment to put the money into an online account and play 1 cent/2 cent No Limit.

One of the problems I face in getting her to listen is that she believes in me and my poker playing ability totally.

[/ QUOTE ]
One phrase I use is, "That would be gambling." While even playing for pennies is gambling, with hundreds of dollars in your bankroll, you should hardly notice the swings. If you buy in to a live game for most of your bankroll, you will hardly notice your skill advantage.

If someone offers to triple your money 1/2 of the time, then to maximize your expected money, bet everything you have. If you get 10 chances, bet it all, and let it ride. 99.9% of the time you will go broke, but 0.1% of the time, you end up with about 59000 times as much as what you had at the beginning. Bankroll management theory says you may prefer to bet a smaller piece of your bankroll to avoid losing it all rapidly.

That said, you may want to take a shot at playing some live NL, as the play is little different from online microstakes games, and it can be fun. If you aren't bankrolled for that level, you should view it as partly an expense, but it may be worth it.

Re: How Do I explain bankroll management?
 

I have experience playing live and have done well, but that was when money was not so tight. I worry that thoughts about money would creep in and affect my play. I try to explain my fears and she just comes back with that she knows I will do great.

How do you answer the arguments of someone who believes in you so totally? (semi-rhetorical question)

Re: How Do I explain bankroll management?
 

'I appreciate that you believe in my ability. I believe that I can succeed as well. However, anything can happen. Right now, this money means alot to me/us which could affect my play. If we had $100,000 that had to be used for poker, would you want me to sit with nearly all of that money on the table? <Pause> It is safer to build slowly with buying in for a portion of the money while not spending things on gas, tips, drinks, etc. It's a better risk to only use a small part of the money at a time and build up slowly. An unlucky turn of the cards could lose all of that money if I play live.'

Re: How Do I explain bankroll management?
 

Media, I really like your answer and it dovetails into a reaction she had when were were watching HSP. She turned to me and told me should would kick my ass if I played with that much money and lost.

I should just tell her that right now having just enough money for one buy-in at the boats would be like my buying in for $500,000 and losing.

Re: How Do I explain bankroll management?
 

I believe in the fact that you have to be able to lose at poker to win. You have to be able to accept that you are not going to win every hand and losing when you have your money in ahead is not a bad thing.

My point is that my girlfriend doesnt understand this. If i have a losing session i am labeled a 'loser' in a friendly manner. yet even though my winning session = more $ the day before i have still won one and lost one.

I think your lady, like mine needs to understand that even the best players can lose to the worst players in the short term.

How about playing a simple game as an example of bankroll management (BRM)

give her $1 (this represent your $500) and lets say she is the best player in the world and has 70% chance of winning a hand but she has to put all her money on the line.. take 10 cards ace - ten, shuffle. she picks a card. If an 8 9 or 10 comes she loses otherwise she doubles up. Then play again, again, again. At one point (hopefully) she will lose her whole bankroll.

Be aware that with variance even this test can go wrong.... just keep playing until she loses

now play the same where she only puts down 10% of her bankroll at a time....

i think that will work... but then variance can be a bitch [img]/images/graemlins/smile.gif[/img]

Re: How Do I explain bankroll management?
 

Does your girlfriend play poker? If not, then why are you letting her advice influence your decision on what limits to play. Let her see your longer term winnings and she wont say a word after a while.

Re: How Do I explain bankroll management?
 

i give the missus 10% of any midweek winnings.. everyones happy.