What to do – what to do!

Money Bankroll Girls February 08, 20113

Money Bankroll Girls February 08, 20113 (Photo credit: stevendepolo)

I have a current bankroll of about $1,000.00

According to the cash management rule of thumb for poker:

Having 20 buy-ins for No Limit Holdem, my maximum buy-in should be no more than $50 or a .25/.50 for a No Limit Hold’em game.

Having 300 big blinds for Limit Holdem, my maximum buy-in should be no more than $3 big blind games for Limit.

Having 40 buy-ins for Sit-N-Go’s, my maximum buy-in should be no more than $25 for these type of tourneys.

This means that I am currently underfunded to play poker in Vegas.

On the plus side, I am adding $240 to my bankroll a month from my allowance. (Diane and I each get a monthly allowance to cover day to day items not in our monthly budget plan).

I also have the ability to grow my bankroll by adding to it by winning.

Living in Vegas, I have found some .50/1.00 games of NL Holdem that would allow me to buy-in from $50 to $100.

There are some limit games that would allow me to buy-in at $30 or $40 minimum but that would put me over the $3 per big blind recommendation.

As far as Sit-n-Go’s at $25 or less, the lowest buy-in I found is $23 with $9 being charged for the admin fee.

Because I am impatient, I am currently playing at games over my bankroll as I play in $1/$2 NL Holdem games with a minimum buy-in of $100.

Most of the “Sit-N-Go’s” (really MTTs or Multi-table tournaments) that I play cost between $45 and $55 to play.

As far as Limit cash games, well, I play so badly, I find no reason to play them at all.

My most affordable game that I play is “Free”. That’s right, free online poker.

Well, not really free but $20 a month (close to as free as you can get for a poker player).

This allows me to play up to four games a day every month, or at least 112 tourneys minimum to as many as 124 tourneys a month. These free daily tourneys have a bonus feature.

If you finish in the top three or four depending on how many players are enrolled in a month, you can win a buy-in up to $200 to use in a live tournament of your choice. The staking allows me to keep 60% of my winnings with 40% going back into the staking pool. This is a win win situation and provides motivation to improve, both online and life as well.

Based on the above, I am going to be giving up my live tournaments and concentrate on cash games and the online game. (Well, not really give them up. If I win enough playing cash games, I will buy into some of the tourneys with my profits, such as they are).

If I get staked from being an online winner, I hope to translate that to a win in a live tournament here in Vegas.

Being here in Vegas has given me so much flexibility and has me very excited about the possibilities. Who know, even online poker might become a reality here in Vegas as well.

Are you excited about the poker possibilities in your own life?

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6 thoughts on “What to do – what to do!

  1. I think that Stratosphere and Hooters are among the rooms that have a minimum $50 buy in for NL. A good source for that type of thing (now that Poker Grump is gone ) is Tony Bigcharles, who seems to know where most of the inexpensive games are and which casinos are offering interesting promotions.

    btw — It was interesting reading some previous posts. I had a beard for 30 years but shaved it off last fall — way too much white hair. I like the new look, but shaving every day — that is the worst. I got hearing aids three years ago, which was one of the best decisions I could make.

    Good luck!

    • SmilingBrownBear, Thanks for your comments. I have had a beard on an off for over the last 40 years and this time decided to leave it on. It makes it easier to spot me in a crowd. I did not know what I was missing hearing wise until I got my hearing aids. And Tony answered as well.

    • SmilingBrownBear, Thanks for your comments. I have had a beard on an off for over the last 40 years and this time decided to leave it on. It makes it easier to spot me in a crowd. I did not know what I was missing hearing wise until I got my hearing aids. And Tony answered as well.

  2. lightning is correct, also add samstown, boulder station, circus, riviera, to that list of places allowing $50 NL buyins. it keeps shrinking as casinos raise the min buyin. the $23 sams town tourny at 10am is quite popular. u need 30 buyins for NL, not 20. 300 big bets for limit, but $2-4 with 250 BB should be fine IF there is an aces cracked promo going on. otherwise the rake will get u. my bankroll is almost no better than urs, and its really much less since i have no income. so im sticking to $2-6 spread limit, think its my only chance. change my name to a small c, not a capital C is ur blog listings. if u ever make it to samstown introduce urself and say hi

    • Thanks, Tony. Those are good tips. I am not sure what route I will be taking. I’m now thinking of trying each Poker Room twice for my blog, and then give my thoughts about them. I know that only playing twice will not really give me knowledge or great insight but I might find one that fits me better. For sure I am going to give the $50 NL buy-ins a chance and might focus on those only at some point. As I am not a great playing, I need to find a place that have worse players then myself.

    • Thanks, Tony. Those are good tips. I am not sure what route I will be taking. I’m now thinking of trying each Poker Room twice for my blog, and then give my thoughts about them. I know that only playing twice will not really give me knowledge or great insight but I might find one that fits me better. For sure I am going to give the $50 NL buy-ins a chance and might focus on those only at some point. As I am not a great playing, I need to find a place that have worse players then myself.

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