Building a Bankroll
When Building a Bankroll, there are some questions that must be asked:
How much money should I invest?
This is an important question, with two simple answers.
If you are a beginner or just looking to have fun, don’t invest any more than is ‘fun’ to lose. Hence, if you’re comfortable blowing 100 bucks, put in $100 and see if you can win with it. This is what I did. My original roll was only $100 but I built it up into my current, much more powerful bankroll.
Bankroll considerations are different for a seasoned player who has proven himself a winner. These types of players are looking to consistently make money at a given limit. If you are one of these players, you should be able to bank 200 big bets at the limit you play. Hence, if you play a $2-4, you should have $4 * 200 = $800 roll. For $5-10, your target roll should be $2,000. These numbers prevent you from blowing your entire bankroll because of one bad run.
Some may say that 200 big bets is too low for shorthand, but I believe you need to be reasonable about potential losses. You don’t want to invest more than 200 big bets unless you’ve proven that you’re successful at that limit.
Also, a very good idea is to keep a daily diary of your sessions. This will help you know if you are a winning or losing player, and how often you win/lose. It will also prove helpful come tax time if you live in a country with income tax on gambling winnings (in the UK, there is no tax on gambling winnings). If you plan on playing poker regularly, consider using a service such as Check Your Bets.