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Old 10-22-2005, 03:18 AM
SNOWBALL138 SNOWBALL138 is offline
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Join Date: Jan 2005
Location: LA
Posts: 518
Default Re: How big of a bankroll should you have?

Hi. You should try to use the search function. However, if you can't get it to work you can buy one or more of the following books:

1. Gambling theory and other topics

2. Professional Poker by Mark Blade

3. Poker, Gaming and Life by David Sklansky

Here's a quick answer to your question though. The amount of money that you should have to play with to have a low risk of ruin is determined by 2 parameters. The first is your hourly rate or your number of big bets per 100 hands. The second is your standard deviation per hour or per 100 hands. If you buy pokertracker, you can get these numbers.

After you get these numbers, then you can begin to answer your question. Keep in mind that you need a large sample size to figure out your winrate and your standard deviation, with a much larger sample size for the former than the latter.

Here's an easy formula for figuring out your bankroll requirements (9)(SD*SD)/(WR)(4)

That means you take your standard deviation and multiply it by itself, and then you multiply it by nine. You get X.
Then you take your winrate and multiply it by four. You get Y. You take X and divide it by Y to get the number of big bets you will need for your bankroll.
Keep in mind that when you are plugging in your SD and WR numbers that they need to be uniformly either per 100 hands or per hour. You can't have one be per 100 and then the other be per day or something like that.

Most people that you ask will say "300 big bets," which is actually the number for a player other than yourself. The number may also apply to you, but don't bet on it.
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