A losing session yet my bankroll grows – slightly

Wooden rake

Image via Wikipedia

Yesterday, I had my first losing session this month, but I ended up with more than I started with.

I ended yesterday with $173 or 34 buy-ins of $5.00 and this morning my balance on Full Tilt Poker , an affiliate, was $182 or 36 buy-ins of $5.00

How can that be?

Every pot that I win has a certain amount taken out of it and this amount is called the “rake”.  The amount varies per site, but it is a amount that the online site takes for allowing you to play there. Even in casinos and poker rooms, each pot is raked before paying the winner.

But I have a special deal with Full Tilt using a broker, StackBack.com and I get back about 27% of the amount raked from my pots. This amount is paid to me monthly on the first week of the next month.

I won pots totaling $129.50 in February with $34.97 taken out as rake.

Yesterday I received my rakeback deposit of $8.79 or about 25.2%.

Rakeback is one way to help increase your bankroll while you play.

You are never going to win every session you play, so it is nice to have a method that softens the blow of losing an occasional buy-in.

Do you get rakeback on the sites you play?  Is it even offered?

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Using a Step 3 ticket

Stairs

Image via Wikipedia

In my quest to build up my bankroll, I have been entering into what is called Step Sit and Go Tourneys.  These are usually one or two table tourneys, with first and second place winners getting a ticket to the next Step.  You can play from Step 1 thru Step 7, with the winners getting cash at the last step – an award valued as much as $12,000 in cash.

Step 0 costs 1.10 and gives you a Step 1 ticket worth 3.30
Step 1 costs 3.30 and gives you a Step 2 ticket worth 8.70
Step 2 costs 8.70 and gives you a Step 3 ticket worth 26.00
Step 3 costs 26.00 and gives you a Step 4 ticket worth 75.00
Step 4 costs 75.00 and gives you a Step 5 ticket worth 216.00
Step 5 costs 216 and gives you a Step 6 ticket worth 640.00
Step 6 costs 640 and gives you a Step 7 ticket worth 2,100
Step 7 costs 2,100 and gives you a winners choice prize package work $12k

As you can see, if you are a winning player, you can convert 1.10 into a prize worth as much as $12,000.00.

In reality, it might not be that simple.

I have purchased 10 of the Step 1 tickets and have converted 6 of them to Step 2 tickets.

I have converted 6 of the Step 2 tickets into 4 of the Step 3 tickets.

I will use the Step 3’s, worth $26, to enter tourneys that have top prizes as high as $8,000.00 and 50 to 100 winners or more possible.

It is highly likely that I could use 10 of the Step 3 tickets and only win money once in the ten attempts. That is the nature of these low entry tourneys.

In fact, I entered one tourney yesterday that ended up having over 2,100 players and I finished 619 and only the top 189 finishers received a cash prize.

I will keep you updated and let you know if and when I win and how much.

By the way, my online bankroll now stands at $180 = 36 buy-ins of $5.00. My goal is to grow this into $500 before moving to buy-ins of $10.00. If my bankroll dropped to $400 or under, I would go back to playing $5.00 buy-ins.

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Not really playing within my bankroll

Several stacks of silver dollar pancakes

Image via Wikipedia

Ok. So I am playing short stacked.

I have about $150 on Full Tilt Poker, an affiliate.

Playing the .02/.05 No Limit Cash games gives me about 30 buy-ins, which is a far cry from the 100 buy-ins I should have.

I will continue to try growing my bankroll one session at a time.

I do not expect to win every session I play but I do hope to win more than I lose.

Playing Rush Poker on FTP gives me the opportunity to play more hands.

The reason for this is that when I fold my hand, I am immediately taken to a new table and dealt a new hand. Very amazing stuff.

And if I play better than my opponets overall, I should show a profit.

As of this morning I have gone from 31 buy-ins or $155 to just over 34 buy-ins or $171.

Are you tracking your goals or progress? How are you doing?

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Playing within my bankroll

Money Bankroll Girls February 08, 20113

Image by stevendepolo via Flickr

I am currently on a new poker quest. It may sound the same as some of my prior goals, but this one is a little different.  I am trying to play online based on my bankroll at the sites I am playing.

Ideally, I should have a bankroll on a poker site with equivalent to 100 buy-ins. If I am playing .02/.05 No Limit games with a buy-in of $5.00, my bankroll should be $500.00.

But I am unwilling at this time to deposit more funds at the sites as I have been losing. So I will go with what I have left and try to grow those funds organically, meaning I need to win more than I lose.

I am also mixing it up in that I am playing in step tourneys hoping to advance to a higher step and use that step’s  ticket to play a tourney that would give me a change to win to increase my bankroll by winning.

In the past, I have had more than a couple of poker friends suggest that I was playing too high a game for my bankroll and it turned out they were right. Sometimes it takes a sharp whack on the back of the head to understand I guess.

Currently I am playing mostly on Full Tilt Poker, an affiliate,  but that is because they offer a Mobile Poker app that I can use to play Rush Poker on my Droid smartphone.

I will try to keep you update with the interesting things that happen along the way.

And thank you for your suggestions and comments.  You have really helped me out.

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