#1
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Bankroll Formula for Multitabling Props
I understand that win rate is a key factor in determining needed bankroll. Throw multitabling and prop pay into the mix and things get interesting!
Can any of you math wizzes shed some light on this? I prop full time, and I play 2 tables of 10/20 and 2 of 5/10 at a time. A very conservative estimate of my winrate would be about $50 an hour, and about the same for pay. So that gives me a winrate of $100 an hour. Humour me and assume this is true. My variance I am not sure on. My biggest swings seem to be about $800 either way. What would you estimate the needed bankroll to be? From experience I have found 3k to be plenty, and i have had some nasty losing streaks. |
#2
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Re: Bankroll Formula for Multitabling Props
Nice to meet you...I normally have 200xBB or 300 when im propping because the varience shorthanded can get pretty bad.
I've made it with worse, but if you have to have money to make money. You play pretty good, btw. [img]/images/graemlins/wink.gif[/img] |
#3
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Re: Bankroll Formula for Multitabling Props
btw, how long have you been doing this? $800 isn't a very big swing at all.
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#4
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Re: Bankroll Formula for Multitabling Props
I've been playing for a few years, propping full time for about 3 months. Now that I think about it I did have a two day streak where I lost about 1400. I had the most amazing bad beats over and over again. That was pretty bad. Still pay for those days was over 700 so the losing streak got cut in half.
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#5
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Re: Bankroll Formula for Multitabling Props
GG today, too bad the site got all screwy. Maybe I will se you on there later.
I found a good bankroll thread with Mason M and another guy that seemed really smart. They use this formula: Bankroll=-((variance)Squared/(2*WR))*LN(ROR) WR=winrate(hourly I am assuming) LN=magic button on my calculator ROR=desired risk of ruin in percent Example: For your typical B+M 15/30 pro(poor sap) here are his numbers. WR=30 Variance=600 ROR=5% I know the 600 variance may be way high but I am trying to be conservative here. Bankroll=-((600)Squared/(2*30))*LN(.05)=$17,974 Now giving myself the same very high variance: Bankroll=-((600)Squared/(2*100))*LN(.05)=$5392 Now, go to a more reasonable variance of $400, still higher than I think it really is, and change the ROR to 1%. Bankroll=-((400)Squared/(2*100))*LN(.01)=3684. Obviously the key variables here are winrate and variance. To be on the the safe side I think I will keep my roll at 6k, 300 BB. Factoring in prop pay, I have virtually 0% chance of ever going broke. |
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