Bankroll challenges are the best thing you can do to play poker. Why? They teach you about far more than playing your hands and equip you with skills that you can use in every poker session for the rest of the time you play the game. First though, a newsflash…
It is true that when you play Texas Hold’em poker online you can lose a lot of money. Alert the sceptics! But is that a reason to run away if you enjoy playing? Certainly not! Bankroll challenges keep you playing the right way, controlling the risk and that (along with great skills) is part of playing winning poker and if you are prone to playing too high for your bankroll, then learning bankroll management is more important than squeezing out an extra 1 BB/100 right now for you.
My own bankroll challenge saw me start with $20 and using good bankroll management, I had to slowly build from the lowest cash games and tournaments to a more substantial bankroll. This has many benefits for my poker game.
Starting with a small bankroll makes you very aware of your chances of going bust and gives you a heightened perception of the value of that small bankroll. I do not like to lose, so busting hurts as much (in terms of the challenge) as if I busted a larger bankroll. Also, if my playing skills need work I would rather discover that nursing a $20 hole in my bankroll than a $2000 hole. If you are a new player I see playing from a small bankroll as an Apprenticeship you should serve to prove to yourself that you are able to beat online poker.
Some would argue, and on the whole I agree, that because you can win money from playing freerolls then working up through the micro stakes to larger games you should play from a small bankroll and learn patience. Even if Poker rooms prevented players from making any deposits some players (very skilled players admittedly) would still rise from the bottom and become a fantastic player with a large bankroll. I see it as a personal challenge to become good enough at Poker to do that.
There is also the personal satisfaction of completing a bankroll challenge. Chris “Jesus” Ferguson turned $0 into $10,000 as a challenge. Imagine the feeling knowing you have successfully turned nothing into $10,000! In what other area of enterprise can you do that, where nothing really means absolutely no money! From an achievement point of view being good at poker can have personal success benefits as well as earning you money. Money is not everything in poker; success is felt and enjoyed beyond the financial benefits of a poker challenge.
Perhaps you would like to do a bankroll challenge. You should start with a small bankroll and set yourself specific bankroll targets before you move up. You should always have one hundred buy-ins for the level of tournament and around twenty buy-ins for cash games. I like to take shots at higher levels of cash game if I reach fifteen buy-ins for that level but I move down if things do not work out. Moving down when things are not going well and moving up when things are going well is how losses are minimised and profits maximised. Do not be afraid to stop moving up if you feel you are getting uncomfortable with the amount of money at risk in pots. Everyone has their comfort zone; I have a friend who makes over $40,000 each year playing at levels under $1/$2. The profits are always there if you are good enough!
Enjoy your poker challenge and let me know how you get on! I’’ll be working hard on my challenge in the meantime!
By Malcolm Clarke