I respectfully but strongly disagree. As discussed in our poker bible, The Mathematics of Poker, if we take money above a certain amount out of our bankroll on a regular basis, our risk of ruin is 100%. This is why so many pros despite having had some huge scores eventually go broke at some point and have to borrow or beg to be staked just to be able to play the next tournament. Las Vegas is littered with broke pros and backers, especially after this year's devastating WSOP where there were multiple bracelet winners and so much of the money won was concentrated in relatively few hands such as Phil Ivey.
Ideally, a player will have another source of money so that he can put all the money won in poker back into his poker bankroll and let it grow without bound. That player's risk of ruin is negligible.
Problem:
A player is playing 1/2NL with a win rate of $20.86/hr and a standard deviation of 5 and 2/5NL with a win rate of $25.82/hr and a standard deviation of 6.3 on a $65,782 bankroll. If he plays say 80hr/month (40hr of 1/2 and 40hr 2/5) and has expenses for tips/gas/food/etc of $400/month ...
How much can he take out each month and keep his risk of ruin less than 5%? Less than 1% ROR?
I respectfully but strongly disagree. As discussed in our poker bible, The Mathematics of Poker, if we take money above a certain amount out of our bankroll on a regular basis, our risk of ruin is 100%.
I certainly don't disagree with the above.
I should edit my post to say,
If you have more than 100-200 buy in's at a game you can take out 10% from your bankroll on a regular basis.
Never had much of a POKER bankroll, still don't really. But when I was playing online blackjack, it paid for my trip to Newfoundland for three weeks with my daughter. Haven't played it since, don't know why, other than the neteller fiasco
Comments
Problem:
A player is playing 1/2NL with a win rate of $20.86/hr and a standard deviation of 5 and 2/5NL with a win rate of $25.82/hr and a standard deviation of 6.3 on a $65,782 bankroll. If he plays say 80hr/month (40hr of 1/2 and 40hr 2/5) and has expenses for tips/gas/food/etc of $400/month ...
How much can he take out each month and keep his risk of ruin less than 5%? Less than 1% ROR?
After what I would call a statistically unlikely heater I went on this summer we are taking a 11 day vacation to Greece.
4 Days in Athens.
4 Days in Naxos.
3 Days in Santorini.
Thank you rungood. See you bitches in 2 weeks.
So, you're conceding the title to AJ? Weak . . .
While in Greece, try to get a tan, you lucky bastard.
Flight leaves Friday morning.
No freebies.
He would chump anyway and I would still win by a point.
'DEMS FIGHT'N WORDS BOYO!
Oh it is so ON this week.
I certainly don't disagree with the above.
I should edit my post to say,
If you have more than 100-200 buy in's at a game you can take out 10% from your bankroll on a regular basis.