Copyright 2007 Full
Tilt Poker
August 31, 2007
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Poker Lessons)
Poker Lesson: Building and Maintaining
a Bankroll
Author: Paul Wasicka
For most players, the lure of playing in high-stakes
ring games or tournaments is a sirens’ song that’s
hard to resist. While there’s no doubt that these games
can provide huge rewards, the sad truth is that many beginners
often leap into the deep end before they look, destroying their
self-confidence and leaving their bankrolls scattered on the shore.
My advice to these players is simple; stay in the
shallows until you and your bankroll are ready to venture into
deeper waters.
Team Full Tilt’s Chris Ferguson recently completed
an amazing exercise where he created a bankroll from nothing by
playing a combination of tournaments and ring games. His tip on
his progress provides some solid fundamentals on how to create
and grow a bankroll, and I wouldn’t want to presume that
my advice is any better than his. Instead, consider this another
point of view drawn from my personal experience and observations.
I started playing professional poker in January
2006 and though I had seen some success at local ring games, I
didn’t have a huge bankroll behind me. Looking at the poker
landscape, I believed the fastest way to remedy the situation
would be to enter – and hopefully – cash in good-sized
tournament. For me, that meant entering the WPT Reno event in
March 2006.
I bought into the tournament for $5,000 –
a significant expenditure – and promptly played my way to
second in chips at the end of Day 1. When I busted out of the
tournament on Day 2 without making the money, I was pretty devastated.
While the outcome of that event wasn’t what I wanted, it
taught me a valuable lesson about playing at limits I couldn’t
afford and putting too much of my bankroll into play in a single
event.
By taking my shot in such a large buy-in event,
I put a huge dent in my bankroll that took months of hard work
to repair. When I finally tried my hand at another large tournament,
I hedged the potential damage to my bankroll by playing for my
seat at the WPT World Championship in a satellite tournament.
Because I didn’t have as much of my bankroll
invested in my tournament entry, I played the event without fear
that I would be crippled again if I failed to cash. As it turned
out, I took 15th place and walked away from the table with a sizable
cushion for my future poker sessions. Limiting my downside by
satelliting into the event let me concentrate on the poker and
play a more solid and confident game than I could have if I had
bought into the event directly.
While satellites are one of the most common and
popular ways to secure your entry into a big buy-in event, they
aren’t the only option. For players who don’t want
to take their chances in satellites, securing backing from a friend,
family member or event another player can be a viable way to play
in bigger events than they can afford on their own. Before you
go down this path, however, be sure to consider all aspects of
the deal being offered and determine how much of your potential
winning you’re willing to give away.
No matter what path you choose, I fully recommend
that you never commit more than 10% of your bankroll to an individual
event or ring game. To be truly safe, I’d follow Chris’
advice and limit your investment to between 2% and 5%. Remember,
the more of your bankroll you risk at any one time, the bigger
the blow you can take if you catch a run of bad cards or bad beats.
Remember, building up a bankroll represents more
than just the funds you have at your disposal. It’s a constant
reminder of the hours of work it took to build and, as such, it’s
something that deserves protection. Treat your bankroll properly
and it will pay you back many times over.
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