Bankroll Idea

[PokerJoker27]

So here's the idea. I have this idea of bankroll mangagment and i want to know what you think. So in recent times i've decided to take poker more seriously and try and make a side income off it. In the past i had played a few games with friends over drinks and lost a bit of money but it was just fun. Come the decision to take poker seriously, i decided to find a group of guys to play with and we were playing small organized cash games. I was hooked and so excited to learn more, i bought as many books as i could find and sure enough i found myself starting to win more and more, I then took my winnings from them and took it too the casino. now my idea is this.. i am very tight with money at the moment, i don't have much so i took a risk and thought about it as an investment, trying to make poker not only a hobby but also a kind of second income. i invested $500 dollars which doesn't seem a lot but it's as much as i could afford into my poker bankroll, over the course of a few months, winning and loosing too of course in low stakes, but in the long run i managed to get to $1000, i then withdrew the $500 i originally deposited, my thinking being that i'm only playing with money that wasn't mine so even if i lost it all i wouldn't be that bad off. Since then i have won and lost plenty but i have managed to slowly increase my bankroll to about $1700. Although i've made a decent profit its definitely a grind and not profitable enough to make a decent side income. So my question is what to do you think of this tactic? i know it seems cheap and stingy but i just feel safer playing without using my money, Do you that i will be able to make any side income using this idea or is there just not enough money going into my bankroll to make anything worth withdrawing? Should i try and make a monthly/weekly deposit from outside into my poker bankroll? i also thought i would put this idea out there for people who might be struggling with financially or with bankroll discipline so they can still enjoy the game without risking too much. Keen to hear back. Thanks Guys.

 

[killroy]

well after you have won the money it is your money. step up in game if you are playing 2/4 step up to 3/6 that will increase your winnings.

 

[OzExorcist]

well after you have won the money it is your money. step up in game if you are playing 2/4 step up to 3/6 when you're properly rolled for it that will increase your winnings.

FYP

OP, what stakes are you playing live? At most places $1/$2 is as low as they go, which means $500 is only 2.5 buyins. That's not really a bankroll - hell that's not really enough to cover an ordinary single-session downswing.

Once you've got a stable bankroll for the stakes you're playing at there's absolutely nothing wrong with taking out some or all of your winnings as profit. But with the amounts you're currently talking about, be aware that you're running the risk of having to top your bankroll back up out of your external funds when you go on a downswing. And you will go on a downswing at some point, it happens to even the very best players.

 

[Allmine79]

I use step sit n go method as my bread and butter. This means everytime you take one down you move up to a higher buy in. Once you lose you go back to the lowest bankroll allowed level. My daily winnings half goes to the checking and the other half stays in the roll. If you constantly spend your roll you will never advance or blast and go bust. I play 20+2 and 10+1 as my daily online grind. Always have at min 50x buy in for sit n go's or 30 minimum depending on skill level. You will get there man just keep building and find your specialty game. Mine is 6 man games...

 

[koskesh]

The logic behind your method makes sense but I think you can improve your rate of success if you combine your gameplay with the above posters tactic:

... everytime you take one down you move up to a higher buy in. Once you lose you go back to the lowest bankroll allowed level ...

My only suggestion would be not to gamble with money that you cannot do without. That would make anyone play with fear (of losing i.e. rent money etc.) and once emotions are involved then that's when mistakes will happen. Looking forward to reading an update from you if you end up trying this out.