$1000 Bankroll

Aballinamion

Aballinamion

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Can I make a living from poker with a bankroll of $1000? How to come up with a strategy to earn at least $700 per month? MTT, SnG, or cash games?
If you do own financial conditions to deposit $ 1000 dollars, I cheer you mate! I’m beginner when it comes to tournaments but I can say one thing about bankroll management and psychological condition.
If you can make a deposit of 1 k without compromising anything in your personal, financial and psychological life, that’s okay, do it.
I might be wrong but I’m afraid you are a Brazilian such as I am. In brazil that means nearly $ 5000 reais (BRL), almost 5 minimum wage.
Even if you have the economic conditions and ability to be profitable, I would recommend a smaller deposit and to play lower stakes: you don’t need to begin playing $ 10, $ 15 dollars buy in tournaments.
And if your intention is to produce 1 k playing freerolls that can take a lot of time.
There’s no guarantees unless you are a solid regular.
 
Fernando Lopes

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If you do own financial conditions to deposit $ 1000 dollars, I cheer you mate! I’m beginner when it comes to tournaments but I can say one thing about bankroll management and psychological condition.
If you can make a deposit of 1 k without compromising anything in your personal, financial and psychological life, that’s okay, do it.
I might be wrong but I’m afraid you are a Brazilian such as I am. In Brazil that means nearly $ 5000 reais (BRL), almost 5 minimum wage.
Even if you have the economic conditions and ability to be profitable, I would recommend a smaller deposit and to play lower stakes: you don’t need to begin playing $ 10, $ 15 dollars buy in tournaments.
And if your intention is to produce 1 k playing freerolls that can take a lot of time.
There’s no guarantees unless you are a solid regular.
I won $1,815.00 yesterday at 888poker's MB Festival. And I don't need to withdraw all, I don't need all the money, so I'm going to withdraw $800, and leave $1000 for my bankroll.
 
Fernando Lopes

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But don't be cocky and pay attention to your bankroll management
I'm only going to touch my bankroll when I have a solid, non-risky plan. That's why I made this thread to get your opinion.
 
okeedokalee

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One thousand dollars as a bankroll will take you nowhere, unless you have living expenses covered.
 
Aballinamion

Aballinamion

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I won $1,815.00 yesterday at 888poker's MB Festival. And I don't need to withdraw all, I don't need all the money, so I'm going to withdraw $800, and leave $1000 for my bankroll.
If you have a job don’t quit to go play poker! Wait until you have at least 6 months being profitable.
 
CRStals

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Can I make a living from poker with a bankroll of $1000? How to come up with a strategy to earn at least $700 per month? MTT, SnG, or cash games?
So realistically you can't. If you applied strict bankroll management - which one must do if they are going to use poker as a stable source of income - means that you wouldn't play anything that would yield enough to wirhdraw and live on PLUS maintain your $1k bankroll. Most say that it's difficult at best to make a living playing $1/$2 NL live in a casino (although not impossible) and you have no where near a bankroll to play $1/$2 NL.
 
rvnhss

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Hi there

There isn't any advice that we could give you that would 100% fit your style. You'll need to do some self-research about what games suit your style and what games you regularly do well in. As for me, I like Sit'n'Go's and MTT. I don't always cash, but I regularly get a top 25%. You'd have to figure out how much you return per game, how many games you can play in a month, and do some maths to work out what your monthly income would be.

Straight away you'd need to be averaging ~$23 profit a day to hit your $700 goal. You could hit that in one MTT. Grinding a cash table for the same amount might take longer. If you make $5 profit for every 5 Sit'n'Go's you play, then you'd have to play 15ish a day. These don't take as long, but you'll end up running into the same players more often and they'll start getting better reads on you.

Common advice would be that you play a majority of your poker with only $5 buy-ins a day. Up to $10 a day if you feel confident in your poker skills.

It's also a good idea to think about hitting higher than $23 a day because there will be days you lose your buy-in so you want to account for those losses too. My advice would be to play more MTT because the return is greater, and one good result could mean not having to play for a couple of days because you're well ahead of your goal.

Good luck mate. Keep us updated on what you decide to do and how you're going, because if you're successful, we'll want to do something similar.
 
Fernando Lopes

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Hi there

There isn't any advice that we could give you that would 100% fit your style. You'll need to do some self-research about what games suit your style and what games you regularly do well in. As for me, I like Sit'n'Go's and MTT. I don't always cash, but I regularly get a top 25%. You'd have to figure out how much you return per game, how many games you can play in a month, and do some maths to work out what your monthly income would be.

Straight away you'd need to be averaging ~$23 profit a day to hit your $700 goal. You could hit that in one MTT. Grinding a cash table for the same amount might take longer. If you make $5 profit for every 5 Sit'n'Go's you play, then you'd have to play 15ish a day. These don't take as long, but you'll end up running into the same players more often and they'll start getting better reads on you.

Common advice would be that you play a majority of your poker with only $5 buy-ins a day. Up to $10 a day if you feel confident in your poker skills.

It's also a good idea to think about hitting higher than $23 a day because there will be days you lose your buy-in so you want to account for those losses too. My advice would be to play more MTT because the return is greater, and one good result could mean not having to play for a couple of days because you're well ahead of your goal.

Good luck mate. Keep us updated on what you decide to do and how you're going, because if you're successful, we'll want to do something similar.
hi!! thanks for answering. I was thinking of something like that! I was thinking about playing $5 SnG, and if I'm having a good month, try a mid MTT or satellites for a high buy-in. And I don't play cash games, I just play SnG, and MTTs. And to be honest, my MTT skills improve a lot!

I won this $160 ticket in a sub-satellite free buy-in, I had the opportunity to play a 2-day tournament, the last few weeks I studied A LOT, I consumed a lot of content about MTTs. And I ended up building this $1000 bankroll, it was definitely a struggle, because my journey was through a free buy-in sub-satellite, and I didn't have any money in poker.

So maybe I have a profitable month in low SnG, and Mid MTTs.
 
martinoni

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I just hope you're a reg player and know what you're doing
 
Acechador

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I would play cash tables and I would go up levels week after week and I would repeat at the end of the month, I would also play tournaments with buy-ins between 5 - 10USD (4 or 5 per week)... I think it is a good way to start managing a bankroll growth.
 
AlphaCentauro

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Brazilians have a temper issues. I am yet to meet a cold blooded Brazilian not to offend anybody. That’s a huge factor in my advice, I would recommend you to hold on to your money if you aren’t sure. You asking this type of question on a forum to me means your not sure.
If you are sure that you are next Phil Ivey, then hustle the game I cheer you!
I really don’t know how you plan to work and make money on the side from online poker. Average tournament is 4-6 hours long. Playing cash games is very risky. You can blow through 1000$ in an hour.
Again take my advice with a grain of salt. I am a fish that plays Micro stakes and 1-2$ tournaments. I am still learning, however, I didn’t deposit a penny so far. I wins some I lose some but this definitely isn’t paying my bills.
 
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The most important question you need to ask yourself is do you have the skill level to make $700 a month. If you dont no amount of bankroll will help.

It is important to move up the stakes slowly and make sure you are a winning player otherwise you will be a long term loser.

What stakes and games do you currently play and are you winning at those? If so, I would think the next step would be to move up one level and see how that goes.
 
Poker Orifice

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So realistically you can't. If you applied strict bankroll management - which one must do if they are going to use poker as a stable source of income - means that you wouldn't play anything that would yield enough to wirhdraw and live on PLUS maintain your $1k bankroll. Most say that it's difficult at best to make a living playing $1/$2 NL live in a casino (although not impossible) and you have no where near a bankroll to play $1/$2 NL.
I'm not sure how you've come to this ^ conclusion??

With a $1k bankroll, he's rolled to play $5 mtt. If he's actually a winning player at that buyin level and if he's playing ~ 30mtt's/day (to start out with.. but if playing for a living one should hope to be playing at least 40/day) and say he has an ROI of ~+20%. That's $30 to $40/day on average. If he's playing 20 to 25days/month it should be obtainable.

Comparing micro/low buyin online MTT to the lowest Live cash game stakes to figure out if it's possible just doesn't make any sense to me at all (perhaps I'm missing something... ).

Do I think OP is at the stage where this is likely to happen right away? Umm.. no. Not even close.

IF the OP is needing to ask the question they've asked in their first post here, this immediately tells us they don't have the amount of experience to be able to accomplish this task.
ie. If you asked a guy flipping burgers at McD's in NewYork City if it was possible to make $700 clear per month at his job, he would be able to tell you EXACTLY how many days/hours/minutes he'd need to work to do this. It's the same for poker! Sure it's not an exact science but over larger sample sizes and 'IF' we are a winning player, we will KNOW what can or cannot be done and what it would take to do this.

If we thought it could be done via SNG's.. but we weren't sure. Then we WON'T be able to do this! Guys who are winning at SnG's (even in the micros) can tell you exactly what type of volume it would take to earn $700/mth.... because they have played enough to know. If you haven't played enough to even know, there's no chance you'll be good enough to be competitive until you have played enough to know. Get what I mean?
 
Poker Orifice

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Can I make a living from poker with a bankroll of $1000? How to come up with a strategy to earn at least $700 per month? MTT, SnG, or cash games?
Nobody can tell you because nobody knows your skillset and experience (or willingness to grind it out).

IF YOU don't know, then it isn't going to be possible to do it.

I'd suggest trying out each format, discover what you prefer (because this is the one you'll find you'll be most willing to do the amount of studying needed and volume of play needed in order to be able to get good enough at it that you could achieve this.
You could do it in any format with a $1k bankroll... IF (big word here 'IF').

SNG's, you'd need to grind out some pretty large volume and hope to play on a site where you can get on a leaderboard for bonuses. Guys I know of who are making $1,500+/mth. are playing 150games per day! (25days+/month) Yikes!
Look at the partypoker leaderboards. Those are the guys you'd be on the tables with... and needing to play 150+ games per day. That is A LOT of games for someone who is just wondering what format to play in.. and what type of plan they'd need.

MTT"s
Even if you're good, they have huge variance involved. You need to be prepared to have 2... maybe 3 or 4 losing months in succession at times.. EVEN if you're a 'winning' player! (what? Yes!). It is possible but game selection (amongst many other things) is VERY important. Don't think you'll be okay to enter a few 'Big 4's' Big11's' and hope for a final table once per week.
Your thought of playing the occasional mid-stakes into a schedule of sngs' is a sure recipe for disaster.

Cashgame
It's a long (LONGGGGGG) process to move up the buyin levels. To earn $700/mth.
Playing 10nl (5c/10c) you'd need to play ~ 125,000 hands/month! (winrate 6bb/100)
approx. 5,000 hands/day How many hours is that? Well 'IF' you were playing ZOOM poker that would be approx. 24hrs. per day If you were 2-tabling 10nl Zoom, maybe just 12hrs./day (that's "IF" you could sustain a winrate of 6bb/100 hands... and honestly I think it would take you maybe 1 - 2years to be able to get to that level.
On regular tables, I'm not sure of how many hours per day (but you can figure that out 'if' you're going to try to do this challenge).
 
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Even cash game or SnG players will have losing streaks, that last a month or more. And if for instance you lose 300$ and need to withdraw the last 700$ to pay for expenses, then a 1.000$ bankroll is already wiped completely out. And for that reason something like 10.000$ is a lot more realistic than just 1.000$, if you need to withdraw 700$ every month.

The next question is, can you win 700$ per month on average? And the only real way to find that out is to play part time and reach a result over at least a full year, which can be scaled up to those 700$. Like maybe you can win half of that spending most of your free time playing poker while still taking care of you regular job. This could then also be the way to build that 10.000$ bankroll, which you need in order to quit your job.
 
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Good afternoon!
It seems to me that having a bankroll of $1000 is quite realistic to earn $700. Playing tournaments for 3-5 dollars, sometimes connecting something bigger, or playing NL5-NL10 cash (for example). But for this you will have to win back a large distance, it seems to me, especially in cash games.
 
thedarkman

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You probably need a bankroll of at least a hundred grand to play for those stakes.

Check out the videos of Jonathan Little. He started with $50 or so but don't think you can do it. Someone wins the lottery every week and it's always someone else.
 
JappsPK

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You want to live on $700 a month?
In Brazil you can live with $700 a month. Even less.

Brazil is not a wealthy country dude.
your comment is so white it should go snowboarding
XD

Can I make a living from poker with a bankroll of $1000? How to come up with a strategy to earn at least $700 per month? MTT, SnG, or cash games?
Are you used to play those tables? There are people who play on those tables for years, just be careful with the sharks! I think SnG can be more profitable, just play more than one table to waste less your time.
 
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