Monday, October 29, 2007
Payroll Requirements
So I just started playing online poker.
In reality, I've played online poker for the past couple of years, but it was usually for a few hours on the weekend, here and there, nothing too serious. I think I deposited a total of about $200 online at different sites. I'd play a variety of games, cash games, tourneys, etc... My main objective was to learn all of the different games. If I was hosting a Stud game at my house, I'd play nothing but Stud for 2 months. Then, if I was hosting an Omaha game at my house, I'd play PLO for 2 straight months. This is a good way to get some "volume" in on some of the mixed games so you don't completely embarrass yourself. I think I played at max stakes of $2/$4 limit H.O.R.S.E. Eventually, it was all gone.
So when I say I'm starting to play online, I mean that I'm starting to play with profit as the only objective. I'm approaching this kind of like a part time job (around 15 hours a week) and a small business (i.e., I need to invest a lot of time and effort initially and only expect a profit several months down the road).
It's a pretty low risk experiment, because if I'm no good, I'll only loose a little money. If I can actually beat the games, then I'll make a little money - down the road. The biggest downside is that I may waste 200 hours or so before I figure out that this is a bad idea.
Anyway, I'm playing NLHE. My question is what is the minimum payroll requirements needed?
Here's what I'm thinking. I'll play with 200 big blinds (double stack) and I'll move up when I have 50 stacks and I'll move down when I have less than 30 stacks.
In reality, I've played online poker for the past couple of years, but it was usually for a few hours on the weekend, here and there, nothing too serious. I think I deposited a total of about $200 online at different sites. I'd play a variety of games, cash games, tourneys, etc... My main objective was to learn all of the different games. If I was hosting a Stud game at my house, I'd play nothing but Stud for 2 months. Then, if I was hosting an Omaha game at my house, I'd play PLO for 2 straight months. This is a good way to get some "volume" in on some of the mixed games so you don't completely embarrass yourself. I think I played at max stakes of $2/$4 limit H.O.R.S.E. Eventually, it was all gone.
So when I say I'm starting to play online, I mean that I'm starting to play with profit as the only objective. I'm approaching this kind of like a part time job (around 15 hours a week) and a small business (i.e., I need to invest a lot of time and effort initially and only expect a profit several months down the road).
It's a pretty low risk experiment, because if I'm no good, I'll only loose a little money. If I can actually beat the games, then I'll make a little money - down the road. The biggest downside is that I may waste 200 hours or so before I figure out that this is a bad idea.
Anyway, I'm playing NLHE. My question is what is the minimum payroll requirements needed?
Here's what I'm thinking. I'll play with 200 big blinds (double stack) and I'll move up when I have 50 stacks and I'll move down when I have less than 30 stacks.
Comments:
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Deposit $500. Play 10c/25c NLHE. Move up when you hit 20 buyins for the next level ($1000 for 25c/50c, $2000 for 50c/dollar). If you are down to 10 buyins, move down a level.
If you lose $500 at 10c/25c, quit poker forever.
:)
If you lose $500 at 10c/25c, quit poker forever.
:)
$500 to play $.10/$.25 still seems like overkill. You're guranteed to get extremly frustrated with the skill level of the players at such a small stakes. Plus its frustrating when you have a big hand and only win $3.
I'd start at the $1/$2 level and then work your way up. You'll see a big difference once you go from $1/$2 to the $2/$4 and higher games. Still bad players, but you can win more.
I'd suggest Chris Ferguson's FTP tips even though I don't abide by them when playing cash games. For example, I try to maintain a $500 bankroll and will buy-in to a cash for $100. That's 20%! WOW!! I even sometimes break his rule's when playing in HU SNGs since I sometimes play the $80, $100, and $200 games. Still a big chunk of the bankroll. See his tips below....
Never buy into a cash game or a Sit & Go with more than 5 percent of total bankroll
Don't buy into a multi-table tournament for more than 2 percent of total bankroll
If at any time during a No-Limit or Pot-Limit cash-game session the money on the table represents more than 10 percent of total bankroll, Leave the game when the blinds reach you.
I'd start at the $1/$2 level and then work your way up. You'll see a big difference once you go from $1/$2 to the $2/$4 and higher games. Still bad players, but you can win more.
I'd suggest Chris Ferguson's FTP tips even though I don't abide by them when playing cash games. For example, I try to maintain a $500 bankroll and will buy-in to a cash for $100. That's 20%! WOW!! I even sometimes break his rule's when playing in HU SNGs since I sometimes play the $80, $100, and $200 games. Still a big chunk of the bankroll. See his tips below....
Never buy into a cash game or a Sit & Go with more than 5 percent of total bankroll
Don't buy into a multi-table tournament for more than 2 percent of total bankroll
If at any time during a No-Limit or Pot-Limit cash-game session the money on the table represents more than 10 percent of total bankroll, Leave the game when the blinds reach you.
# posted by 
: 6:54 AM
: 6:54 AM
I dunno. I was thinking that I'd try to maintain a bankroll of between 15 and 25 buyins. This is more inline with Brandon's suggestion.
I just don't think that maintaining only 5 buyins is sufficient. That's not much of a cushion for suckouts (or bad plays on my part).
I just don't think that maintaining only 5 buyins is sufficient. That's not much of a cushion for suckouts (or bad plays on my part).
Ah....to each their own. I personally get frustrated at those lower levels. Anything below $1/$.50 is difficult to make a decent profit. Granted you can still make some money, but it may take a little longer. I hate it when you get a nice big pp and either 1) you raise and win the blinds or 2) bad suckout since a standard raise of 3x or 4x the bb isn't that expensive. Good luck and keep us informed
# posted by : 6:03 AM
: 6:03 AM
Trust me. I don't necessarily want to play micro stake either, but to start at $1/$2, I think I'd need around 30 buyins (@ $200 each). I don't really want to start off investing $6k into this little experiement.
If I can beat the low limits, I'll move up. If not, I'll quit. The beauty is that if I beat the low limits, I'll have a bankroll to play at the next level.
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If I can beat the low limits, I'll move up. If not, I'll quit. The beauty is that if I beat the low limits, I'll have a bankroll to play at the next level.
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