Troy in Las Vegas writes in with a question about bankroll management that I’m going to attempt to answer: (Stop laughing.)
Dan,
I have a quick question for you… in your opinion what is the best for me to do w/no bank roll…. just able to spend about 200-300 every other week…
a. small (50-60) buy in tournys
b. play one larger tourney (say the venitian) once every two weeks
c. invest my 200 in a ring game some where
or d. none of the above and save my cash til i get enough
if the answer is d…. what is \”enough\” to play? I have a VERY hard time not playing, but, have been on the roller coaster of up down small amounts til i get felted in cash games (can\’t seem to stay away from getting my money in w/the best and not fairing well…. or… when i do well in one session i don\’t do well in the next two and get felted)
Just wondering your opinion… thanks!
Troy, you pose an interesting question, because I suspect a lot of folks are in your position, where they have money to spend on poker, but they don’t have a real bankroll. We all hear that you should have $2-3k to play 1/2 — and it doesn’t take long playing to realize those numbers might not be a load of shit — but how many 1/2 players actually have a few thousand bucks in a non-interest bearing poker account?
I know I don’t … and when I write about my play, that’s what you’re really witnessing – an OK player who generally knows what he’s doing but occasionally fugcks up big-time trying to build a bankroll while theoretically playing above it.
To answer your question, that’s really up to you … but I would recommend sticking to one option for at least four or five months, because cash games are about long-term numbers, and tourneys are like a soccer defense – something that a good opponent can eventually crack if they pepper it enough to figure their way through. Maybe not the best metaphor … but recurring tourneys have certain consistencies that regular players will pick up on each time they play, putting them at a distinct advantage over the continued influx of dead money and even a better player who comes in and is playing for the first time.
So basically you’ve got $500/month to put towards poker … but I suspect were you to lose that much 6 months in a row you’d be pretty unhappy. The smart thing to do, of course, would be to buy a few books on poker (cash games specifically) and limit your play to micro-stakes online for four or five months and then go play 1/2. But I could never do that – holy friggin\’ discipline that would require. Might as well go to med school if you can do that.
You definitely don’t want to do a cash game once a week with $200, I don’t think. It’s simply not enough to play with often. And knowing you might be loathe to rebuy in the face of a bad beat, that will negatively affect your play. Going this route would put you in a bad game in a bad stack position week-in and week-out.
I like your idea of playing the Friday Venetian tourney ($195) every other week, however. It’s got a good-size field and some nice four-figure payouts regularly … and play it consistently and surely you will eventually cash and possibly make a final table. But will that be enough to give you your fill? If so, go for it …
But in the most preferable alternative, I’d suggest playing the $65 Sahara tourney with regularity. The field is super-weak. The only problem is the payout structure is very top-heavy, so you don’t make any real money if you don’t finish in the Top 3. But even if you don’t make that much, it would provide you some great practice for that time you get, say, a $500 payday and decide to try your hand at a Venetian tourney a few days later.
The 1/2 cash games there are also delightfully pleasant. I’ve played once since my arrival, and had one of those turn $200 into $900 kinda nights, compliments of a couple drinky Swedes that were just having a blast playing any two cards. The other advantage of making this tourney your regular game – think of an old Rounder Club tourney in Addison – is that you do leave yourself a little something extra each month, so you can comfortably sit down for a cash session should you bust out early one of those times. Overall the Sahara is your best bet in terms of a manageable game, and one that leaves you other poker options in the process – especially when you’re running good.
But run bad and that’s OK too, because in this game you can handle the weekly tourney without cashing for a while and ultimately can make better poker decisions because at $280/month ($65×4) you’re playing below your budding, quasi-bankroll … and therefore stand the best chance of building a real one.