bankroll management for online poker

EvilDruidNE · #1 06-01-2007, 10:51 AM

Ive been playing poker online for almost 2 years now, im definately down in the long run. Ive had a few cases where i would hit a nice run in a cash game and pull out 500$ but ive deposited 50-100$ more than 10-15 times.

My current bankroll only really lets me put about 50$ max online and I think i play way too high stakes for my bankroll. Sometimes i will find a 26$ tourney offering nice overlay or maybe a good ratio for satellite seats and jump in but although i make it close to cash often ive yet to make a big tournament cash. So my question is how would you manage a 50$ bankroll as to not go broke within a day or 2 of play. But also i find playing extreme low stakes, like a 1$ 45 person SNG to be extremely boring, playing for 5 hours to possibly win like 25$ or something.

Im thinking maybe use the 50 to play as many 8$ tournament buy ins for the 26$ tokens as i can, and then use them?

btw i play on fulltilt or bodog, which do you think would be a better choice for satellite and cheap tournaments

Bona · #2 06-01-2007, 11:38 AM

Wait. Think. If you know you are playing at a loosing level change your approach. Learn to play better- books, forum interation, personal review of your own sessions, session reviews etc. It takes a while to learn. In the meantime start the process at the lowest possible levels and keep good records. Don't let a temporary win rate +variance temp you out of your discipline.

If that approach bores you join the multitude of people who happily pay out their hard earned money regularly for the "action". It doesn't have to be that way however. Your choice.

EvilDruidNE · #3 06-01-2007, 11:46 AM

well I THINK my play is good, Ive placed in the cash of 4 live tournaments out of maybe 14 ive played. I seem to do much better live and I have read HOH 1 and theory of poker, trying to borrow HOH 2 off my friend. But i think my problem is purely bankroll management. Its just when im playing low stakes i get bored and make stupid moves and i know it and i dont know how to fix this. Its just that compared to live play where i usually buy in 50$ at least the prizes are much higher so of course im more focused.

edit: i have been thinking i definately need to start tracking my money though, i notice people have some kind of program that puts out graphs and stats for them, can someone direct me to a good program like that?

Bona · #4 06-01-2007, 12:22 PM

pokertracker.com very good. About $55 I thnk.

Your expression that you think you are winning doesn't square with your original post though. If you are depositing you should really ask why. Certainly premature move up in stakes can require a deposit but more often it is losses exceeding gains. Simple as that. Obviously I don't know how you play and am only reading into your posts but yes, your bank roll is too small for the stakes you are playing. minimum 300BB for limit and (I thnk) 500xBB for NL. 50+ buy ins for SnG's meaning a fifty dollar deposit will put you into $1 SnG's, .10/.20 limit (almost), .05/.10 NL.

I would stay at that/those levels until my bankroll reached at least the needed blind levels for the next increase. If, in fact you are pretty good. You should get there in about +/- 15,000 hands or so. And will have a track record to help you decide from there. I am currently playing with a 4000BB bankroll for the stakes I play. Overkill, bankroll nit, I know. I just want to be real comfortable with any move up decisions I make. Meaning I want to beat the players at the next level also. I'll probably kick it up a little pretty soon.

WCGRider · #5 06-01-2007, 12:38 PM

Based on your name, do you play warcraft?

Anyway, on topic, if you dont play within your bankroll, you will die. Period. Ive had the deposit problems, but now im a winning player and ive withdrawn the money i put in.

Here is the key, you dont have to impress anyone. Learn to play the game, play the lowest cash games and the lowest touranments. There is no shame in that. The glory will come with time, but you have to walk before you can run. Unless your fine having to keep depositing.

EvilDruidNE · #6 06-01-2007, 12:49 PM

yeah ive had this name since WC3 beta lol

so yeah i think im def playing above my bankroll atm =\ specificly what tourneys do you think will yield the most value at my bankroll? sit and gos or cheap scheduled ones? or does it really not matter?

i think i will def have to do tournys i cant play cash under like .50 1$ i just find it too boring

Bona · #7 06-01-2007, 01:05 PM

I like the $1.10 SnG's at UB. Stars or Full Tilt may have similar.

[ QUOTE ]
think i will def have to do tournys i cant play cash under like .50 1$ i just find it too boring

[/ QUOTE ]

BIG RED FLAG HERE!!! Craving action is a poker players enemy.

EvilDruidNE · #8 06-01-2007, 01:15 PM

its not action in particular its just i cant justify spending hours to make like 15$ i could go like wash cars on the street for more money

Bona · #9 06-01-2007, 01:31 PM

OK. That is how a professional might think. I know of no answer to your dilemna except to accumulate the necessary bankroll and balla skill set to safely play at higher limits. Since I don't have either of those I can't advise but I don't think there are any shortcuts. Maybe someone will come along with a good suggestion for you.

ssdex · #10 06-01-2007, 01:45 PM

4000 bb's is not a bankroll nit, i play with ~12000 bb's, usually 15,000 before i consider moving up, you will find you play a lot better when the $ effects your decisions less. Secondly, if you have $50 and you want to get better at poker, and i mean like a lot better start by playing single table sng's.... 1$-5$.... if you can't beat cheap sng's you wont be able to beat any game. After you run up to 150-200, start mixing in 3$-5$ mtts.... try and score a big cash to pad your bankroll for cash........ in the meantime keep playing sng's--- all the way up to like $500--- during this time start mixing in some 5$ heads up tournies---- being a good heads up player will improve your total game, especially your post flop play. I would not start playing cash until i had $500, even then i would start at 10nl--- if you score a big cash in a mtt, say 1000 or so, then you can start at 25nl--- you would be slightly rolled for 50nl and you could take some shots, but i would start at 25nl and work my way up, never having less than 50 buyins for the limit you play, don't move up until you are convinced you are rolled and are beating the game you are playing (not just running hot).... understand their is a big difference between being a winning player and running hot.... a winning player will win over 50-100k hands----ive seen some really bad players have huge heaters (running hot) over like 20k hands and move way up, and lose all their $ because they didnt learn the fundamentals of the game and they werent truly beating the limits they thought they were.
hope this helps
-Dex