sounds like youve got addicted to higher stakes syndrom
this article came to mind while reading the op
There have been many articles written regarding bankroll, and for good reason – It is without doubt one of the most important concepts to understand in order to remain a winning player. I say a winning player but what I really mean is a player making money. Many a player has a positive ROI but because of their strays up the stakes their net winnings column on their spreadsheet appears in red.
I’d like to look at the reasons why everyone should practice good bankroll management, aside from the obvious reason of not going broke. I decided to write this article after I played in an event at the weekend which was way above my bankroll. The event in question was the Grand Tournament, a $1k buy in event held a couple of times a year on Pokerroom. Pokerroom being my main site, and me being a “winning player” there I couldn’t resist it! It was a two day event with 234 runners, and having made it to the 2nd day sitting 29th in chips with 50 left I was in confident mood. 41 minutes later I pulled a resteal from the BB with 68 after the cut off raised, he called with AA and I was out in 42nd, with the top 30 getting paid I got nothing for my 7 hours 11 minutes apart from a rather bruised bankroll.
“Ok Puggy, big deal, you entered a tournament too big for your bankroll, you bubbled, you were pizzed and vowed never to do it again.”
That’s not my point. There are many more reasons to keeping to your bankroll, here are just a few:
1) Fear of losing
You’ve bought in for an amount you can’t really afford, you may not make the +ev risky plays that are your norm in your regular tournies. The bubble may be an issue, you may find yourself folding
hands you should be raising/re-raising/calling with, in order to edge into the payout structure when we all know the money is heavily weighted to the final table or even top 3. (This one obviously didn’t apply to me with my 86 move :S)
2) It feels like Gambling when you lose
I have avoided that sinking feeling that you get when you lose a day’s or even a week’s wages playing
blackjack since…. I stopped playing blackjack. When I get knocked out before the money in one of my regular tournaments, I generally shrug my shoulders, maybe curse my luck or bad play, look at my mistakes and move on. Last weekend, when I bombed out, I laughed. I laughed again, then it came, that sinking feeling in your stomach, the anger at yourself for being so stupid, for throwing your money away, then come the thoughts of how you’re going to win the money back….
3) Can lead to a downward spiral
So you’re a hefty amount down, well you need to win that back don’t you? And you can’t do that quickly by playing at your normal level, so why not jump into another big tourney? You played well that last one, you just got unlucky…..
Point 3 may not apply to you, but if it doesn’t then maybe this will:
4) Addiction to higher stakes
You play a big buy in event, you lose, you get ready to play your regular tourney and all of a sudden you have no motivation, your goals seem to have shifted, you want that adrenaline rush you want to gamble for that big score!
The day after I bombed out of my big tourney I got thinking. I knew I didn’t have the roll to continue to mix it in the big buy-ins, but I had had a taste of it and I wanted more. I entered a few of my regular tournaments and went out of each of them fairly early after making a wide range of mistakes, from loosening my calling requirements to running outrageous bluffs with little chance of success.
At this point I stopped for the day, I was playing recklessly. I was playing as if it didn’t matter, as if these were all only warm up events for the next big one. These were my bread and butter tournies, tournaments I have performed well in, and tournaments that pay my bills. But after tasting that big buy in event I had delusions of grandeur. I figured I could just show up in these smaller tournies, glide my way to the final table then run my opponents off the virtual felt on my way to inevitable glory. Surprisingly enough, I didn’t.
I took a couple of days off, re-assessed my goals, took time to read some forums and generally get myself together. With Christmas coming up, I didn’t play much as I was at my parent’s place, but I was pleased when I did venture back into a $30 tourny that I took 2nd place. (Edit - how I have changed, I can’t imagine with being happy at 2nd place!)
Stick to your bankroll restrictions, there’s more to it than meets the eye.
