Importance of Bankroll

[HornHighJoe]

This is more of a vent, just for me to blow off some steam.

There are the obvious reasons why you want an adequate bankroll when you step up to the table, but I just found out one more reason. Let me regale you with my recent discovery.

Stayed at the table a little too long, but was only down $50, so I stayed even longer to only lose more. Broke one of my personal rules and went to the $25 table since it was empty. Had to go to a scaled down version of my betting strategy where I would not be able to put any odds on my line bet and do a doey-dont. Lost more. Eventually I had a nice roll. Had a fire bet, and made 4 points. Unfortunately, I didn't make any money since I couldn't capitalize on my passes since I did not have any odds. Now I knew this was a possibility since I couldn't put any odds. It was when I set the puck on the fifth number I then realized the one scenario I forgot about. Hedging. I looked down at my rack and did not have enough to make a "proper" don't odds bet against that 5th number. I didn't make that 5th number, but had I and set up the 6th, I could not make any hedge on that 6th.

When I begin each roll I always make sure I have enough to do my betting strategy, but never taken into account the extra amount I may have needed for a hedge bet. In the past (at lower min. tables) it wasn't a concern since 1) my usually betting strategy would natural put additional chips into my rack through place bets/odds. 2) there are other players that know me well enough that I would be able to "borrow" money.

So I guess the lesson learned is when you decide (or insist) on moving to a higher limit table, take into all scenarios that may arise.

[DanF]

... gambling lesson number 1, only bet what you can afford. Or you will take stupid decisions out of fear of loss.

[heavy]

It's interesting to note that when you're normally a $300 buy in player and you buy in for $1000 - you feel relatively bullet proof until you look down in your rack and you only have $300 of that $1000 left. Then you start playing smarter.

I had a session where I turned $500 into $80 at Harrah's Biloxi last week. Then Wizard caught a hand and I had a $1200 positive swing. It can happen that fast. Of course, it could have gone the other way. That's why they call it gambling.

Keep a separate casino bankroll. Don't mix gambling cash with household cash. Feed that bankroll with your winnings and whatever you can scrape up from entertainment funds, dividends received, scrapped aluminum cans, whatever.

The other thing I will mention is something I picked up from Wizard (I strongly suggest you read his "experts speak" posts on this board). Basically you decide on what your betting strategy should be based on your experience at the table. Then you gather enough bankroll to play that strategy on . . . say 50 shooters. Then you play that strategy flawlessly. If the strategy works for 50 shooters it will probably work for just about any 50 shooters. But the point in this is you have to be willing to lose it all. That doesn't mean you are going to lose it all - or that you should play to lose it all. Pick your shooters you're willing to bet on. Look for advantageous situations. And if you believe in your ability as a shooter bet on your hands like you have an advantage. I've won on roughly 85% of my sessions this month. Those losers were doozies, but I'm still in the game. Looking for another win or two today.

Last of all - discipline. Don't chase. Plan your play and play your plan. That's the best hope you have.

[DanF]

Oh ya, 1 thing I can add. When the bad roll series come. Lower your bets. You don't have to stick to your plan 100%. Wait it out, bad runs pass too.

[Irukanji]

Oh ya, 1 thing I can add. When the bad roll series come. Lower your bets. You don't have to stick to your plan 100%. Wait it out, bad runs pass too.

When the bad roll series comes, switch to the dark side.

[London Shooter]

On the other hand there is merit in maintaining stakes to your set level otherwise should the big roll appear and you are in defensive mode you may not fully capitalise on it.

[DanF]

You don't need to caitalise on a big roll to win, they are rare as pope shit. You should plan to capitalise on many medium rolls to be profitable. At 3rd hit you should have profits off the table.

[DanF]

If you can't profit in a hand under 10 rolls, you have a bad attack plan.

Then you can regress and progress to the longer hands. This will make you profits overtime.