So apparently anyone can build a bankroll if they apply good Bankroll Management theory??? Well my problem is applying the theory and I’m sure there are more of you out there! I have never been good with money and managing my Pokerstars account is no different!

Through this series of posts I want to see if making my Bankroll progress public helps me apply good management theory, play smarter and establish a Bankroll any average player is capable of.

I seem to have more luck in live games but online I am a losing player and am not in denial about it, I want to be better! I understand general Poker concepts such as pot odds, implied odds etc but I’m no expert and still struggle with the math . PSO has been great for the learning component and I have definitely improved my game of late.

I know how boring Blogs can be sometimes so I will try and keep it interesting, In this post I will go over my poker history to this point and also the plan for my Bankroll building 'experiment' and continue with regular updates of games I've played and my Bankroll progress.

It was around 2004 I was first introduced to poker, I was 22 and just purchased my very own house (unit) in Mt Evelyn, a small town in Victoria, Australia. Some mates came around for a few drinks and one of my best friends from School Warren brought a poker set and a fancy card shuffler! The card shuffler lasted all of 3 shuffles before falling to pieces but we still managed to have a semi-formal game after a few quick open hands to learn the rules. Unlike every other story out there I didn’t win my first game but I was hooked.

Wanting to play more Warren lent me his WSOP PlayStation game which was...interesting. After a few weeks of entertainment I quickly learnt that particular moves in certain spots lead to a very predictable response from the computer players, I lost interest soon after and didn’t play for a few years.

I still don’t know how and I try not to be, but I’m a gambler. Neither of my parents gamble but me and my brothers... My oldest Brother Darren and I were once discussing casino games and he suggested Roulette and the 'Double up' Theory (Martingale Betting stategy) http://en.wikipedia.org/wiki/Martingale_(betting_system)
I thought about this system a lot and a visit to the Crown Casino in Melbourne was necessary to find out if it worked. With my girlfriend and my best mate Gerkin (Dave) I played with $100 on the roulette tables. Min bet was $5 and I quickly made $25 betting on the 2:1's (Black-red etc) which had Gerkin and me convinced it was flawless!!!

We returned...the next day!!! Not with $100 this time but with $640 each! With a theory $640 gave us 7 bets before we bust. It was all going great, I was about $300 up and Gerkin had close to doubled as he was getting cocky and playing the Money Wheel and betting on the 2 Dollar coin which paid 3:1 rather than the 2:1 of roulette. Stoving $100 notes into empty coke cans in my car thinking we were doing something illegal, we were on top of the world!!! We were already planning what cars to buy and when to quit our day jobs but... Shortly after, I ran into a streak of 10 reds in a row which busted me. Being the Good mate Gerkin is we played with his money until we were back to even and called it quits. We discussed the theory and decided to wait for a streak of 3 before placing the initial bet.

After a few more visits we were making money but very slowly, at a rate which didn’t really make it worthwhile for the stress, plus looking at the odds it is always going to be a loss long-term with a limited bankroll. Somewhere in amongst these visits I stumbled across the poker rooms downstairs in the Vegas Lounge. Not only did they have Real Poker tables but they also had computerized tables with screens for each player rather than real cards! I swore I’d be back!

In 2008 I was back! After some encouragement from a work colleague I put $20 on a Crown Casino Poker card and played on the computerised tables as I didn’t have the balls to play with the real men. I somehow managed to run that up to $50 and cashed out very happy. I like to consider myself an honest guy and from memory I played those tables about 10 times within 2 months and never had a losing session which boosted my confidence enough to play on the real tables, with real cards and real chips and real people!

I bought and read 1 book on Poker theory and thought I knew the lot. Still feeling very intimidated I bought into the cheapest game the casino offered which was $1/$2 for $50. Over the next few years I played about once a month and tried a few different table limits finding I did best at the $1/$3 tables. I would buyin for $120 and would estimate 80% of the time came out at least $100 up, my best session being $600 up.

2009 I started playing online at PKR due to me loving the 3D action but soon found Pokerstars offered software my PC didn’t struggle with and the amount of games available was mind boggling!!! Since 2009 I would say I have played semi regularly until this year where I have been a bit more regular but between shift-work and my family doesn’t leave much time to play besides when I’m sitting in be, even then iv blinded away in many tournaments due to my 2 year-old son not sleeping so well. 

As I mentioned earlier I am no good with bankroll management, I usually only deposit $20 at a time and that fluctuates a bit before I run it into the ground after a few bad beats and me playing stakes I shouldn’t be to try to win back my losses. On a couple of occasions I have deposited a decent amount in an attempt to build something but like always I manage to play stupid and lose it. I guess my aim here it to get some support, not active support, but I am hoping just the knowledge that some people have read this will give me the drive to keep blogging my progress, make solid dicisions, and make some decent $ following the rules of good bankroll management. I don’t know how many times I have wished someone else would manage my bankroll for me and just allocate me money to play with but that’s just not possible and I need to change the way I approach the game to stop being a losing player!  And believe me if I can do it anyone can so let’s see if I can step up!


My Plan:

Bankroll Start: $200  (100 buyins @ max $2)

I will be mixing up the games I play a bit (all NLHE) between cash games and smallish Multi-table S&Gs, a few bigger tournaments from time to time including some satellites of which I may cash out for the tournament $.

I currently don’t use any HUD but will most likely invest in PokerTracker with the profits over $200 when I get there.

Wish me luck and I will post again in a couple of weeks and let you know how things are going.

P.S. I am also heading into the Casino this weekend for some time away with my lovely wife but I have alocated Sunday afternoon for Live poker so I will let you know how that goes to!