Sunday, July 12, 2009

Poker Bankroll requirements are irrelevant

This is a question I get asked a lot by players that are trying to stay in action and often my answer surprises them.  I do not believe with the advent of online poker that you really need a specific bankroll given that you can move up and down limits so easily.  This of course brings up a ton of questions but I think the real questions are simple:

Are you a winning player?

How much money would you like to win and over what time period? Why are bankroll requirements talked about so much? Back in the day (only a few years ago actually) the predominant game was limit poker; in fact, there were very few no limit games.  So the standard was something like 30 BB’s per session and 300 BB’s as a bankroll.  Never mind that game conditions could change so much as to make even these basic requirements irrelevant.

Rake was a bigger factor than it is today online

Firstly, there was no rakeback.  Secondly, the rakes playing live poker were typically higher.  Lastly there were no micro stakes.  One of the greatest things for players that play online today is that the rakes are very reasonable compared to the pots that you win.  So the rake does not eat you alive as you are trying to move up limits.

Playing more than one game was not possible

There are many ways to make money online, not the least of which is the ability to play multiple tables.  Today’s players have the luxury to play as many games as they would like which in theory could make you more patient.  Many times between rakeback and bonuses players can be profitable while actually losing slightly.

Heads up was also not an option

If you look online you will see a revolution in poker.  Many people now play heads up and for many reasons.  For one you can not be cheated heads up, so you have no collusion concerns.  Secondly the game is faster paced and more exciting so gamblers typically gravitate to those games.  Which is a benefit all to itself.

Game selection was not as easy as it is today

It used to be bad form to win and leave a live poker game, especially if you were a regular.  While some might argue this point it was seen as an obligation that if you were a long term winner part of your responsibility was to open the store and keep it open.  With online that really is not the case, while I would not recommend quitting someone who is playing bad it is not uncommon to play against an opponent that is similar in ability but it takes a while to figure that out. Because of the fact that your data can be recorded you should in theory be able to do a better job of picking good and bad opponents.

Moving up and down the ladder

This year alone I have played all the way up to $50-$100 NL and all the way down to .50-1.  It can be frustrating struggling at the lower limits when you have proven to yourself that you can beat higher games.  In the case of $50-$100 however I was playing the game because the opponent was inferior.  I am lucky to have enough money that I can play that high if the situation calls for it, I can also play higher by taking pieces of other people.  All of which I never used to do, nor was it common practice.

Checking your ego at the door

Since poker is not my primary source of income I do not really need to set requirements on how much I need to win.  So I just play to win and cash out as I see fit.  I look for spots where I have an edge and take advantage of those spots.  It used to concern me going up and down in stakes because people viewed me as a “higher” stakes player.  Now with the nosebleed games that exist that label is virtually gone and I think ultimately I am better for that.  Playing to win is more important than playing a particular stake, besides, you should be playing where the bad players are and often times at higher stakes the players are good.

Try and make a run

I have had two significant runs in poker that netted me over $500,000.  In both cases I was playing confidently and started with a small stake and ran it up.  Once I had some signs that things were not going my way I pulled back. So in summary, bankroll does not matter because….. 1.    You can pick and choose your games more easily. 2.    You can move up and down stakes as you struggle or thrive. 3.    Most importantly is the flexibility that online poker allows you. So the next time you think to yourself am I properly rolled for this game the real question you are asking yourself is will I kick myself if I miss this opportunity.  If the answer is yes and it will not significantly affect your standard of living I say take a shot.  Some of the biggest names in poker have become who they are today by doing exactly that.
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