Bankroll Questions
07-16-2013
, 11:05 AM
07-16-2013
, 11:22 AM
07-16-2013
, 01:12 PM
^ That's a very solid advice for someone with 2 posts 
OP, it seems that you're not going to emigrate to have access to softer PLO200-400 games, whereas on US networks these games are too rare to select tables properly. Hence I doubt that a winrate high enough can be achieved there to justify taking shots loosely. Especially as you characterise yourself as breakeven online, I recommend not to shoot at PLO200 in the near future unless you get at a really soft table (with three average fishes ot two terrible ones, which is almost impossible).
Mind that a breakeven player has a 100% risk of losing the bankroll sooner or later; several bb/100 (a 'profit margin') should always be left in the bankroll, both during upswings and (via redepositing) downswings, at a linear pace hardly dependent on how much was actually won; many players' mistake is cashing out all winnings when they reach a certain bankroll size, it always will lead to a ruin sooner or later even despite not moving up.
If you meant that you're BE even after VIP rewards kick in, consider being coached. Otherwise start by counting your winrate after rewards, how much you need to cash out to sustain a living, and then you'll arrive at the comfortable profit margin you can leave in the account.
Those who don't plan to move up can lower the profit margin as they become more and more rolled, but it's a variational calculus problem I'm not ready to solve now, so for simplicity I recommend to leave (variance : bankroll) in the poker account, e.g. if bankroll = 8000 bb and variance = 20000 bb*bb per 100 hands (typical of PLO100 TAGs, for LAGs it may exceed 30000; it's the square of the 'standard deviation' HEM stat), then 20000/8000 = 2.5 bb per 100 hands should be left in the account unwithdrawn. Of course the roll will most likely grow and, as it happens, you'll start mixing in more and more not-so-fishy PLO200 tables.
Read this excellent Quadrophobia's blog post about how tight pro players should be at moving up (because bb/100 winrates are lower at higher stakes).
However, US networks are specific in that cashout times are huge (and deposits are not instant either sometimes), so alas bankroll management there is more about trusting the site than gameplay risks
I'm not qualified to advise the right plan here (probably it's appropriate to hold only a small siteroll, like 2-2.5 BI per table, at a really scammy site, and the rest in a designated bank account, and also several months' expenses should be put aside to avoid hunger while waiting for a cashout to arrive), but be conservative because if you win a lot at PLO200 you won't be able to cash it out fast with a reasonable vig
I feel I should collect all my BRM thoughts into a single post to avoid wasting time writing them again and again, shall maybe write it on Thursday.
OP, it seems that you're not going to emigrate to have access to softer PLO200-400 games, whereas on US networks these games are too rare to select tables properly. Hence I doubt that a winrate high enough can be achieved there to justify taking shots loosely. Especially as you characterise yourself as breakeven online, I recommend not to shoot at PLO200 in the near future unless you get at a really soft table (with three average fishes ot two terrible ones, which is almost impossible).
Mind that a breakeven player has a 100% risk of losing the bankroll sooner or later; several bb/100 (a 'profit margin') should always be left in the bankroll, both during upswings and (via redepositing) downswings, at a linear pace hardly dependent on how much was actually won; many players' mistake is cashing out all winnings when they reach a certain bankroll size, it always will lead to a ruin sooner or later even despite not moving up.
If you meant that you're BE even after VIP rewards kick in, consider being coached. Otherwise start by counting your winrate after rewards, how much you need to cash out to sustain a living, and then you'll arrive at the comfortable profit margin you can leave in the account.
Those who don't plan to move up can lower the profit margin as they become more and more rolled, but it's a variational calculus problem I'm not ready to solve now, so for simplicity I recommend to leave (variance : bankroll) in the poker account, e.g. if bankroll = 8000 bb and variance = 20000 bb*bb per 100 hands (typical of PLO100 TAGs, for LAGs it may exceed 30000; it's the square of the 'standard deviation' HEM stat), then 20000/8000 = 2.5 bb per 100 hands should be left in the account unwithdrawn. Of course the roll will most likely grow and, as it happens, you'll start mixing in more and more not-so-fishy PLO200 tables.
Read this excellent Quadrophobia's blog post about how tight pro players should be at moving up (because bb/100 winrates are lower at higher stakes).
However, US networks are specific in that cashout times are huge (and deposits are not instant either sometimes), so alas bankroll management there is more about trusting the site than gameplay risks
I'm not qualified to advise the right plan here (probably it's appropriate to hold only a small siteroll, like 2-2.5 BI per table, at a really scammy site, and the rest in a designated bank account, and also several months' expenses should be put aside to avoid hunger while waiting for a cashout to arrive), but be conservative because if you win a lot at PLO200 you won't be able to cash it out fast with a reasonable vig I feel I should collect all my BRM thoughts into a single post to avoid wasting time writing them again and again, shall maybe write it on Thursday.
Last edited by coon74; 07-16-2013 at 01:20 PM.
Reason: typos
07-16-2013
, 02:10 PM
Quote:
^ That's a very solid advice for someone with 2 posts
OP, it seems that you're not going to emigrate to have access to softer PLO200-400 games, whereas on US networks these games are too rare to select tables properly. Hence I doubt that a winrate high enough can be achieved there to justify taking shots loosely. Especially as you characterise yourself as breakeven online, I recommend not to shoot at PLO200 in the near future unless you get at a really soft table (with three average fishes ot two terrible ones, which is almost impossible).
Mind that a breakeven player has a 100% risk of losing the bankroll sooner or later; several bb/100 (a 'profit margin') should always be left in the bankroll, both during upswings and (via redepositing) downswings, at a linear pace hardly dependent on how much was actually won; many players' mistake is cashing out all winnings when they reach a certain bankroll size, it always will lead to a ruin sooner or later even despite not moving up.
If you meant that you're BE even after VIP rewards kick in, consider being coached. Otherwise start by counting your winrate after rewards, how much you need to cash out to sustain a living, and then you'll arrive at the comfortable profit margin you can leave in the account.
Those who don't plan to move up can lower the profit margin as they become more and more rolled, but it's a variational calculus problem I'm not ready to solve now, so for simplicity I recommend to leave (variance : bankroll) in the poker account, e.g. if bankroll = 8000 bb and variance = 20000 bb*bb per 100 hands (typical of PLO100 TAGs, for LAGs it may exceed 30000; it's the square of the 'standard deviation' HEM stat), then 20000/8000 = 2.5 bb per 100 hands should be left in the account unwithdrawn. Of course the roll will most likely grow and, as it happens, you'll start mixing in more and more not-so-fishy PLO200 tables.
Read this excellent Quadrophobia's blog post about how tight pro players should be at moving up (because bb/100 winrates are lower at higher stakes).
However, US networks are specific in that cashout times are huge (and deposits are not instant either sometimes), so alas bankroll management there is more about trusting the site than gameplay risks I'm not qualified to advise the right plan here (probably it's appropriate to hold only a small siteroll, like 2-2.5 BI per table, at a really scammy site, and the rest in a designated bank account, and also several months' expenses should be put aside to avoid hunger while waiting for a cashout to arrive), but be conservative because if you win a lot at PLO200 you won't be able to cash it out fast with a reasonable vig
I feel I should collect all my BRM thoughts into a single post to avoid wasting time writing them again and again, shall maybe write it on Thursday.
OP, it seems that you're not going to emigrate to have access to softer PLO200-400 games, whereas on US networks these games are too rare to select tables properly. Hence I doubt that a winrate high enough can be achieved there to justify taking shots loosely. Especially as you characterise yourself as breakeven online, I recommend not to shoot at PLO200 in the near future unless you get at a really soft table (with three average fishes ot two terrible ones, which is almost impossible).
Mind that a breakeven player has a 100% risk of losing the bankroll sooner or later; several bb/100 (a 'profit margin') should always be left in the bankroll, both during upswings and (via redepositing) downswings, at a linear pace hardly dependent on how much was actually won; many players' mistake is cashing out all winnings when they reach a certain bankroll size, it always will lead to a ruin sooner or later even despite not moving up.
If you meant that you're BE even after VIP rewards kick in, consider being coached. Otherwise start by counting your winrate after rewards, how much you need to cash out to sustain a living, and then you'll arrive at the comfortable profit margin you can leave in the account.
Those who don't plan to move up can lower the profit margin as they become more and more rolled, but it's a variational calculus problem I'm not ready to solve now, so for simplicity I recommend to leave (variance : bankroll) in the poker account, e.g. if bankroll = 8000 bb and variance = 20000 bb*bb per 100 hands (typical of PLO100 TAGs, for LAGs it may exceed 30000; it's the square of the 'standard deviation' HEM stat), then 20000/8000 = 2.5 bb per 100 hands should be left in the account unwithdrawn. Of course the roll will most likely grow and, as it happens, you'll start mixing in more and more not-so-fishy PLO200 tables.
Read this excellent Quadrophobia's blog post about how tight pro players should be at moving up (because bb/100 winrates are lower at higher stakes).
However, US networks are specific in that cashout times are huge (and deposits are not instant either sometimes), so alas bankroll management there is more about trusting the site than gameplay risks
I'm not qualified to advise the right plan here (probably it's appropriate to hold only a small siteroll, like 2-2.5 BI per table, at a really scammy site, and the rest in a designated bank account, and also several months' expenses should be put aside to avoid hunger while waiting for a cashout to arrive), but be conservative because if you win a lot at PLO200 you won't be able to cash it out fast with a reasonable vig I feel I should collect all my BRM thoughts into a single post to avoid wasting time writing them again and again, shall maybe write it on Thursday.