Dec 04, 2008 In this poker lesson professor Gripsed discusses how to build a bankroll the smart way and make sure you never go broke. Your bankroll is your life force in the game of poker, with the techniques. Online Poker Bankroll Building Strategy. For the casual online poker player seeking little more than the social simulation of a card game to help unwind after a stressful week at work, poker bankroll building makes about as much sense as a morning-coffee-on-the-way-to-work bankroll.
Last week in our series of tips for sit & gos — whether playing online poker or live — we discussed heads-up play. This week, we'll wrap up the SNG series with a look at bankroll management.
We'll start by focusing on developing a plan for determining the bankroll size you need to play SNGs. What constitutes a smart bankroll for playing sit & gos? The answer to this question is a function of the amount of risk you are willing to accept.
Bankroll For Video Poker
Number of Buy-Ins
I would suggest a bankroll size of at least 100 buy-ins for conservative players who want to give themselves a very small risk of ruin. This includes professional poker players who cannot easily replace their bankrolls.
If instead, you are a serious recreational player who has a source of income that could be used to replenish your bankroll, then you don't need to be so conservative. In this case, that is, if you're on the less conservative side, you can get away with 50 buy-ins.
Meanwhile, if your goal is to just play a few SNGs for fun instead of strategically building a bigger bankroll, then you can play with as few buy-ins as you like. Just be careful not to play with money you cannot afford to lose.
Slight adjustments to these bankroll requirements can be made based on your return on investment (ROI). This is a measure of how profitable you expect to be in future tournaments based on how well you've done in the past.
If you determine that you have a much larger than average ROI, then you can expect to lose less often than most players. If this is the case, you will need fewer buy-ins than most players. The opposite is true as well — i.e., if you have a lower than average ROI, you'll want to have a bigger bankroll.
Feel free to make these adjustments to your bankroll management plan, but be careful not to take it too far and expose yourself to too much risk.
Moving Up or Down
Once you have decided on a bankroll management plan, your current bankroll will tell you at which level you can start. For example, if you have a $1,000 bankroll and want to take a conservative approach with the goal of being a professional player, then you should start at the level for which you have 100 buy-ins. In this case, that would be the $10 level.
If you go on a bad run, you'll need to drop down in stakes until you build your roll back up to around $1,000. For example, if you lose 50 buy-ins, then you will be left with $500. This is not enough to play $10 SNGs professionally. If this happens, you should drop down to play $5 SNGs since you now have 100 buy-ins for that level. If you recover the $500 you lost, then you can move back up.
On the other hand, if you beat the $10 games handedly, you may eventually double your bankroll to $2,000, or 200 buy-ins for the $10 level. It is completely fine if you want to be ultra-conservative and stay at that level despite the bigger bankroll. But if you feel you are ready, you can move up to the $20 SNGs since you now have enough for 100 buy-ins at that level.
That said, moving up when you have the buy-ins to do so is only half of the equation. Generally, the higher levels are tougher than the lower levels. You must also be sure that you have the proper skill set to compete. Do some self-assessment by taking occasional shots at the higher levels to see how they play and determine what new skills you need to acquire.
When deciding whether or not to move up or down, ROI once again becomes a factor. Most likely, your goal when you play poker online for real money is to make the most money you can per tournament. Sometimes, this can be better achieved at a lower level than a higher one even if you are properly rolled to move up.
For example, let's say you've determined that you have a 20 percent ROI at $10 SNGs. This means that you make $2 per game on average. If properly rolled, you can move up to the $20 SNGs, but you wouldn't want to do so unless you believe that you have at least a 10 percent ROI at that level.
If your ROI is lower than this, you actually make more money at the lower level. Even if it is exactly 10 percent, you'd want to consider staying at the lower level. Even though you make $2 per game at both levels, the one in which you have the higher ROI will result in lower variance. If you are going to move up and deal with bigger swings, you should make sure you are being paid a premium to do so.
Conclusion
I hope this series on sit & go strategy has been helpful to you. SNG mastery is a great skill to have because it gives you experience that is transferable to other types of poker tournaments. SNGs always start at the final table, so you should feel somewhat at home if you later decide to play an multi-table tournament and make it to the end.
Also in this series...
Ready to start giving sit & gos a try? Put these tips into practice at PokerStars.
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There is not going to be a new book nor any coaching role in Team PokerStars ProBertrand 'ElkY' Grospellier's near future. While Eureka Poker Tour was busy enjoying its record-breaking field of 1,432 players, ElkY took over the PokerStars Twitter account and joined his fans for a Q&A session about both his personal and poker life.
With countless titles won, over $10 million in live tournament earnings, a well-known love for prop bets, and a personality that made him become one of poker’s most recognized players, ElkY sat at the computer for an hour and tried to respond to as many followers as he could, giving away precious poker strategy tips and bits of his personal life — all in 140 characters or less.
Besides denying plans to write a sequel of his first tournament strategy book, The Raiser’s Edge, and explaining the importance of meditation and discipline to build a solid, successful poker career, Grospellier expressed some interesting thoughts about heads-up displays (HUDs) and ways for players to improve their game.
PokerNews Spain’sAntonio Martín went through all the tweets that were sent to Grospellier using the special #AskElkY hashtag to offer you a selection of the most interesting ones.
What is your best advice for an aspiring poker pro? — @Kappie_WP
Grospellier: If you want to become pro, make sure you are IN LOVE with the game of poker! Then everything will fit together!
How long and how many deposits did it take you after your first one to make a decent and stable bankroll? — @Kappie_WP
It took me about three months and a few deposits, but I was definitely not disciplined enough at the time.
What would you say was the biggest influencing factor in becoming disciplined or maintaining a certain level of discipline? — @Kappie_WP
At first it was purely a hobby and then poker became my life, so being disciplined was a main requirement!
What kind of bankroll do you need to start playing live poker for a year or as a job? — @Glennvdp
It all depends how much you need to earn for your lifestyle. You just need not to have financial pressure to be a pro.
Is it really necessary to read books to become a poker pro? If so, which one do you prefer? — @BuismanBerry
It is probably not necessary, but I think it can always help. I love the trilogy Kill Phil, Kill Everyone, Raiser's Edge.
Are you planning on writing a new book? Do you have any plans on making coaching videos? — @OrejanoX
None of those is a project now, as it's too time consuming and I need to focus on my second EPT title win.
How can you improve yourself as poker player? I guess there is always something you can improve even if you are pro. --@Sami_Tuomaala
Of course you can always improve! Try to think outside the box and improve some non-technical skills as well.
Who are you learning from these days? — @jaworek1405
I try to learn from everyone I discuss poker with, which are mostly my Team PokerStars Pro teammates.
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What is the secret behind your continuous deep runs? Do you have any advice for beginners? --javorek1405
There’s no secret: just focus, preparation, hard work and determination. A little bit of luck might help as well.
What is your favorite thing to do to prepare for a long live or online grind? — @Phrumpleton
Nowadays I love meditation before a long session, but most important is being well rested.
Do you ever tilt? And have you ever tilted away a lot of money? — @Ante_Eater
I used to tilt, for sure. Nowadays I don't, but I would be lying to myself if I think I never get frustrated.
What do you think is the difference that stopped you from tilting? — @Ante_Eater
Experience really helps. Take your time for decisions, and focus on being the best you can, all the time.
How do you refresh your mind after a heavy session of poker to wind down? — @javorek1405
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I find that meditation can be very helpful, but otherwise anything you enjoy: Games, TV shows, whatever!
How do you handle being on a losing streak? — @EitBx
It can be really hard for sure, that’s why playing online in between to get a winning session and confidence back is good.
SNGs, MTTs or ring games: which one do you prefer and why? — @Kappie_WP
I love MTTs because it feels more like a competition, and the feeling when you win is incomparable. All are fun, though.
What would you choose between winning your second EPT Main Event or the Grand Slam (WCOOP, SCOOP, TCOOP & Sunday Million)? — @1Ceman85
If the Grand Slam is WCOOP and SCOOP Main Events, then it's close. Otherwise, I would go for the second EPT for sure!
If you could play only one offline poker series for the rest of your life, which one would it be? — @OtisOgle
The European Poker Tour!
Which pro would you never want to see sitting to your left? — @Proudy66
I really don't care very much, because if they outplay me that’s an opportunity to improve my game.
There is a lot of talk again about HUDs online and if they should be banned for offering an unfair advantage. What do you think about that? — @LostInPoker
I don't think it's unfair as anyone can learn how to use them. But if most players want them banned, then it’s OK.
Where do you see yourself in 10 years, poker-wise? — @Pradlanic
I was never one to plan in such a long term. Hopefully, still on top of the game, but we never know what life is going to bring.
Who dies your hair? — @Tim_Dwayne
I have my favorite hair salon in Paris, L'atelier de Donato.
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