Bankroll Management
Always a fun topic. I've done a good job of building my roll by playing $5-10 45 player games. I'm sitting at $540 (yeah yeah, I know it's chump change for some of ya, but bare with me here). I'm feeling good about how I've been playing this week and thinking about playing in the nightly 70K on Stars tonight. Buy in is $55, so a little over 10% of my roll. Not the greatest way to manage my bankroll as I shouldn't tossing that much into one tourney. At the same time, it's not such a large amount that, if I were to lose, it wouldn't cripple my stack or force me to play lower limits.
So, worth the shot or bad idea? Fire away.
So, worth the shot or bad idea? Fire away.
Comments
Take the shot. How you gonna know if you can run with the (slightly) big(ger) dawgs, otherwise?
Enter a satellite for 1/10th the price? Good idea
Personally I'd stick with whatever is working for you.
Well done, btw.
Sometimes you have to take a shot becaue you never know....but I don't reccomend it all the time. Just plan it in advance.
... (looks sheepishly at the ground) ... there's satellites...? Oh.
I've posted in the past about how to protect your bankroll and never go broke.
I think you understand what the "Proper bankroll management answer" is to this question.
But also, you need to have a life.
Listen, here's the thing.
If you can't spot the sucker in your first half hour at the table,
then you are the sucker.
Guys around here'll tell ya... you play for a living.
It's like any other job. You don't gamble. You grind it out.
Your goal is to win one big bet an hour, that's it.
Get your money in when you have the best of it, and protect it when you don't.
Don't give anything away.
That's how I've paid my way through half of law school.
A true grinder.
See, I learned how to win a little at a time. But finally, I've learned this...
If you're too careful, your whole life can become a fuckin' grind.
This is Teddy KGB's place.
- [Man] Five hundred. - You won't find it in the Yellow Pages.
Nope. Not tonight.
No? What?
Give me three stacks of high society.
Thirty thousand. Count it.
- That's good. - So, you're sitting the apple.
Only thing I'd suggest it to try to sattelite into the bigger ones. I do the same with the $215 buy-in's. Don't play every week, only when I win my sat (or make a good cash).
Remember that Sattelites are the softest tournies on the net. I prefer to play ones that pay 20% of field (pay a little more to increase my chances 2 fold).
Anyhow, gl.
open up the tourney lobby, they should be listed in there.
but be careful, know how many shots you're going to take to make it before you start. very easy to get sucked in and just start re-buying when you get sucked out and knocked out. and the time aspect can be a bitch if it takes you a while
I'm with Johnnie. One time for full price? sure. just make sure you are at 1K before trying again.....unless of course you run deep and really build your stack in one shot.....
If I was you with $500 BR, id play $3 and $10 Sunday Million tickets, win a few of those and you the T$ to play those MTT's you want to play.
- Only wager a max of 10% of your bankroll in any given session
Then you can afford to play this once, since your bankroll is $550 (okay, $540 I believe, so maybe you need to grind out $10 more before you can buy into that tourney).
Fair enough. So what happens if you bust out before the payout? Well then the max amount you can wager is $49.50 (10% of $495). Which means you have to earn $55 before you can buy in again.
I don't know what games you're replenishing your bankroll with, but I'm going to assume that you're not taking $50 swings per session, which could put you far away from your goal even when you're trying to grind it back to $550. You can employ this strategy to keep taking shots at that $55 tournament, as long as you're able to replenish your bankroll back to $550.
** Caveat emptor, I just started taking bankroll management seriously and this is the strategy I'm using. I've never had the discipline before, especially for online play. This is probably considered a very aggressive strategy by many people's standards, especially for online play, so take it for what it's worth.
Only one problem with this part: I'm a sucker and I'm stuck working on the most profitable poker day every friggin week.
Side note, here's the funny part: ended up missing the satellites and the tourney altogether as we went to a friend's place for dinner. Oops.
On sites like Stars or Tilt you don't have to satellite into that specific tourney. Try satelliting into the million, play those double shootouts. Then you ge $215 in tourney dollars which you can play the nightly 70k + have extra money. On FT I think those $75 token sats ($15ish buyin) are very popular and soft.
what he said....
I got a $24 token for a $6 buy-in and the sat was pretty easy even for a donk like me.