Posts Tagged ‘beginner’

Keep Track of Your Bankroll in Holdem Poker

Monday, March 22nd, 2010

Serious poker players may bluff one another, but they have to be honest with themselves – especially when it comes to how much money they can really afford to lose. It’s called Bankroll Management, and it can be as simple as a few numbers jotted down on a notepad, or as sophisticated as software that tracks and accesses all the money that you have set aside for poker. And there’s a key point. You should have a clearly defined bankroll meant for poker only. Many players have separate bank accounts. You never want to mix up the resources that you require for life, with the resources that you have allocated to poker.

There are no hard and fast rules for determining how much you can afford, but there are guidelines that suggest how much cash you should have on hand to get into the game in the first place. Some experts say that you should have at least 50 times the size of the Big Blind (BB) before you get into a Limit Hold’em game. That means if the blinds are $1 and $2, you shouldn’t sit down unless you have $100 to play with. A bankroll of that size should allow you to be able to weather the inevitable swings in the game. Other experts will say though, that you should have at least 1000 times the Big Blind. So – to be safe, split the difference and try to have 500 times the Big Blind on hand at the start of play.

During the course of play the ratio of bankroll to Big Blind will change. If you started out with $1000 but quickly see that cut in half – you have two choices: risk losing it all fairly quickly or, drop down in limit. That’s one of the benefits of online poker: you can move up or down in limits fairly easily. If your bankroll ratio (bankroll/BB) is getting low, dropping down to a lower limit game will give you more time to build up your bankroll.

In a tournament of course, you can’t change tables – and in No Limit (NL) games you could be risking everything you have on every hand so.. in either case your beginning bankroll should be larger. The rule of thumb is to have access to 40 times as much as the tournament entry fee, or 100 times the big blind in a NL game. If the tournament fee is $100, you shouldn’t sit down unless you have $4000.

With those ratios in mind, the clear suggestion is that you start out low, and slow, and work your way up.

If you can keep a respectable ratio at a lower limit, that may indicate that you are ready to move up.

If you can’t, go back to Free Play and work on your game.

Day 27

Sunday, March 21st, 2010

Hey, what do you want? Life got in the way. I have a job. I have a life. I had the flu. I should have tried playing when I had the flu. I coukldn’t have done any worse, and maybe I would have taken the kind of chances that – when my head is clear, I’m too rational to risk. Maybe, I should play ‘as if’ the chips were worth real money? Wait, let me try – and see what happens. Hold on, while I log on…. Well, first off, even though I am impressed overall, with the program and how it works, there are quite a few times when the thing freezes, or logs me off, or something happens. Then the whole game goes into limbo. Now there’s some new software to download, and after a few false starts, its loads and what do I see – a come-on for a new game. I think if regulators get down to it, they shouldn’t allow those kinds of promos, pop-ups, etc. They shouldn’t be able to get you in a virtual corner and say, try this, you’ll like it.

Okay so I thought I’d give ‘Rush Poker’ a try, on the Full Tilt site. They show you how to play, offer a $5 bonus for trying, but then I can’t figure out how to get started. Is it only for real money? I’ve got a few hundred ‘play’ chips? A $5 bonus for trying something that looks like it could suck a lot of money out of my pocket in minutes, doesn’t seem like a good bet.

Okay I figure it out, and got into a game, and lost every chip I had in under five minutes. Mistakes, I’ve made a few, but then again, here’s a few to mention.. I went in on a no-limit game. In one hand, in about 15 seconds or less, I lost 2000 or more chips. I stayed alive a few more hands, won two in fact, but then went all in, by default, and was stoned. I shouldn’t have played at all without a better sense of when to go in and when to get out, fold. Then again, it seemed more real, more like real poker, like what you see on TV, might in fact be better ‘training’ for real poker. It happened so fast, it didn’t even hurt.

Day 11

Sunday, March 21st, 2010

“I have a life you know. Right now I’m pretty sure that my life and poker are not the same thing, and never will be. But I know how it goes. I mean, if you win. If you win you think, this is easy, and that probably fuels the fun. What I am saying is that right now I can’t see giving this enough time to grow on me. I don’t think I have enough fanatic in me to become obsessed, driven enough to spend the time to learn this game.

“I went back, sure, after a week off, and I was pretty bad. I started off with a few hundred chips, lost those, tapped some more of my ‘winnings’, lost those. I started to think I knew what I was doing. I had a strategy. I folded if I didn’t have a minimum hand, face card suited, or at least a pair, something. But it seemed like those at the table with me were more risky, and were lucky too. I thought, at first, that I needed to play for real money, if low stakes. But then I thought, if you can’t figure out how to win for fun, what the hell do you think you’re doing? I am not sure that makes sense. Maybe playing for fun alone, no cash, is just putting yourself at the mercy of the odds. You have to beat the odds, don’t you? I mean if you can’t see the other people’s faces, their real faces – then all you can go by is the odds, and I suppose, if you were real paranoid, the way the funny heads played. But do people really follow other players around, compile statistics? For what? Maybe if I was playing for real, I mean real money. But is that the same thing? I mean is poker not just my cards against yours? Is it mean against the machine?”

Day Two

Sunday, March 21st, 2010

“It’s a little creepy. I mean, are these people at it night and day? How else could they have accumulated all these chips. There was this one guy in a James Bond head, had something like 25,000 chips. I wondered what he was doing there, if he was so good. I had 200, got up as high as 950 or so, back down, back up, but always hovering near zip. Right away I said to myself, if I ever figure this out I’m going where people know how to play, because otherwise what is there to lose? Isn’t that funny, I started thinking right off that to win, I had to have something to lose. And to win consistently, everybody around me had to be in the same predicament.”

Sharona – the poker beginner

Sunday, March 21st, 2010

The story of Sharona Packs, a beginner at so many things, poker being just one. But one evening Sharona crashed the annual all-night poker ‘shebang’ – least that’s what her boyfriend called it, and became enamored of the game.

“I was lucky enough to stumble up to his apartment at an hour when most, if not all of the boys were more than half in the bag,” Sharona remembers, “ and I watched with, call it amusement, as they took turns making dumb bets, blowing good hands, and otherwise doing a disservice to poker lovers everywhere.”

But still Sharona was impressed, at least with the passion of the players, despite their alcohol-infused ineptitude. And one particular fellow – notably not her boyfriend at the time, was what she called ‘a warehouse of information’ on the game – and an industry, that seemed to be some kind of secret and exciting club.

“If you’re not a player,” Sharona said, “you just don’t have a clue what’s going on. I mean the millions of players, the millions of dollars, the thousands of games going on, live, or online, and the amount of money that the average idiot (her word, not mine) is throwing away because he doesn’t have the time, or the intelligence (her words not mine) to figure it out.”

So Sharona started to play, and we thought it might be interesting to follow along, see how she does. See if she can succeed, make a little money, or at least learn how to play the game in a way that will allow her to easily beat the boys at the annual ‘Shebang’.

“That was one of the first things that hit me when I began to play,” Sharona said. “This is a game that is associated – or at least was in my mind associated, with wrinkled old men clutching bourbon bottles in the back rooms of whore houses in old Clint Eastwood movies. But women can and do excel at this. And geeks and nerds, and Wall Street brokers.. so why not me?”

Sure, why not. So we’re going to follow Sharona as she deals herself in to this secret, not at all what she expected, world of poker. Stay tuned.