How do you manage your bankroll?

[BarronVangorToth]

Andy has a good point here.... Playing for a living and playing as a side venture are two entirely different things.

For example, I can sit down at the Foxwoods 20/40 anytime I want (read: when the game is insanely weak) -- even though I don't have $12,000 specifically set aside in my pocket to play poker.

Nor do I have a bank account somewhere labeled "poker" with $12,000 in it.

I have money and can play whatever game I want up to a certain level if the situation arises, especially since I know I've made X dollars this year so even if I take a stab at a higher game, even a $75/$150, it won't mean too much to my overall winnings for the year.

This is yet another terrific example where accurate record keeping comes in handy -- especially when my poker winnings invariably get spent on DVDs, groceries, sporting events, vacations, or giving my parents extra cash if they are short when I visit them.

The way I see it, there are at least three very different scenarios:

Person with finite funds that has limited poker budget. Let's say you're in college and scrounging for extra dollars like most of us were at University. Well, you got $200 set aside for poker. I would NOT recommend that this person plays $5/$10 ... however, going back to me, I've been out with friends and I've sat down at $10/$20 with $200 in my pocket because I know if something goes horribly wrong, the ATM is just 100 feet away. This isn't an option for some. For those that it isn't an option for ... I think 200-300 BB isn't unreasonable to have to play at X level, and gradually work your way up.

Situation 2 is my own ... talked about it enough. Many of us are in it, where we play poker for extra spending money and we have real work where we make our real money.

Situation 3 is the poker professional, playing for a majority of his income, where he needs to win X dollars just to pay his monthly expenses ... these guys need to manage their bankroll even more than most, because if I go a month and only win $100 -- Oh, well, I made $100 and it's my hobby, and as I believe good ol' Dr. Al has said, a lot of hobbies cost money, and if mine made me $100, good for me.

However, the poker pro who requires $3,000 per month just for his expenses ... him making $100 in the month is in essence losing $2900 ... which comes out of the bankroll.

All different scenarios; all require different mindsets.


Barron Vangor Toth
www.BarronVangorToth.com