Please explain bankroll management for...
Join Date: May 2008
Posts: 5,410
Hi so I am trying to explain this to someone who only knows of poker from watching TV, never really playing them selves however seems to have their own opinion and thinks they can be correct when it comes to understanding how it is critical to be properly rolled for games, and how making correct poker decisions needs to come from game theory etc andd not allowing the money to effect decisions you make etc. Obviously I can search through the huge thread and try to pinpoint specific posts to show but I would really like a couple direct posts just a paragraph or two from a few of you to explain to a newbie the things I mentioned and why it is so important. Perhaps touching on some quick points that I didn't bring up. Thanks guys.
Join Date: May 2016
Posts: 3,885
The simplest way to think of it is this:
Imagine there's a game where everytime you make a $500 bet, you have a 55% chance of doubling up. This means if you have $500 to your name, there's a 45% chance you'll go broke before you double up your money to $1000.
Now imagine you have $100k to your name. The chance of you going broke before you double up to $200k at this game is less than 1% - a lot less.
This is how a bankroll works. When your bankroll is sufficiently large and you have an edge at the game, it's almost impossible for you to go broke. You'll just print money.
Join Date: Mar 2018
Posts: 808
Poker is a micro-form of investing. A bankroll is what you require to incur the risk of uncertain short/medium-term outcomes on the investments you make. Proper bankroll management allows you to realize your long-term reward -- assuming you have a long-term winning strategy, that is.
Join Date: May 2012
Posts: 1,987
Take out a quarter and see how long the streaks last when you flip it.
Join Date: May 2008
Posts: 5,410
Thanks. And so my point of this is so it can be read from other people confirming what I try to explain. Please someone speak on how having a short roll can negatively impact making proper poker decisions.
Join Date: Nov 2007
Posts: 25,852
Studies have shown that humans are more affected by losing something than gaining something. By having a large bankroll, the emotional fear of losing is reduced since less is at stake. With a small bankroll, the same decision allows the emotional fears overwhelm the logic of the choice since more is at stake.
Join Date: Feb 2013
Posts: 2,810
Don't forget to use the chess comparison in which the best player always wins vs. poker. Even with "the best of it" we're still 70/30 most of the time.
