What\u2019s life like in your bubble?<\/p>\n
Mine is one of stress, gratitude and happiness.<\/p>\n
The stress element is one part I would like to remove from my life, but it\u2019s not always that simple.<\/p>\n
So what stresses me out?<\/p>\n
One of the major things that creates stress for me out will no doubt also plague you.<\/p>\n
Money.<\/p>\n
They say it\u2019s the root of evil.<\/p>\n
I am not sure about that<\/p>\n
But I do know it\u2019s the root of all my bloody problems, and I guess it\u2019s the same for you right?<\/p>\n
Money is the fuel that keeps your poker vehicle chugging along. No doubt there are times that you feel out of your depth? That you are playing in games that are above your bankroll, or you are taking risks that are making your calves shake.<\/p>\n
You are not alone.<\/p>\n
Here are 9 little known factors that could affect your bankroll from some of the smartest people in the business.<\/p>\n
In his piece of work The Symposium,<\/i> Plato writes about love as it comes under the examination of a group of men attending a party. During his confab Aristophanes told a tale of how humans were born with four arms, four legs and a single head made of two faces.<\/p>\n
One day after a particularly nasty row with the Gods they decided to cut us in two and scatter us all around the world. This means that humans would spend eternity trying to find your \u2018other half\u2019 so you could live happily ever after.<\/p>\n
What Aristophanes didn\u2019t mention was the fact that when you find them they spend all your money – something that Sam Razavi<\/strong> understands all too well.<\/p>\n \u201cThe one little known factor that has affected my bankroll in the past has been women.\u201d<\/em> Said Razavi<\/strong>.<\/p>\n One of the major advantages of choosing the life of a professional poker player is you get the opportunity to travel to some of the most exotic, interesting and exciting places on earth.<\/p>\n Sound exciting?<\/p>\n Well you had better invest the time to qualify for the these major tournaments by playing in online feeder satellites, because as Manig Loeser<\/strong> and Madison Bergeron<\/strong> tell you\u2026travel costs can eat into your bankroll.<\/p>\n \u201cOne of the areas where I lose money is booking last minute flights and not planning ahead and taking advantage of the flight reward programs. The costs of travel are always way more than you budget for.\u201d<\/em> Said Manig Loeser<\/strong>.<\/p>\n \u201cThe travel costs associated with the live poker scene can quickly add up. I refer to these as \u2018hidden costs\u2019 because they are separate from the actual buy-in costs. They can quickly add up meaning you have to have a pretty good ROI to even break even.\u201d<\/em> Said Madison Bergeron<\/strong>.<\/p>\n Point one can bleed you dry, but that doesn\u2019t mean people who are single are immune to bankroll management issues.<\/p>\n On the contrary.<\/p>\n Being young free and single can produce just as much temptation as, as the two-time World Series of Poker (WSOP) bracelet winner Matt Perrins<\/strong> explains.<\/p>\n \u201cI would say the one little known factor that affects your bankroll is buying a new car every three months. I have had a BMW M5, Porsche Cayman S, Audi R8, Lamborghini Gallardo, Mercedes C63 and a Nissan GTR\u2026and each purchase has never been very good for the roll.\u201d<\/em><\/p>\n Poker is cut throat.<\/p>\n The players at the top of the game are so sharp you can get badly cut if you decide to play with them.<\/p>\n So being tip-top<\/i> is absolutely crucial when squaring off on the cyber felt, and this is a problem that Ben Wilinofsky<\/strong> has faced on numerous occasions during his battles with his mental health.<\/p>\n \u201cWhen I haven\u2019t been well, and I\u2019ve played instead of seeking help, I\u2019ve had trouble focusing and trouble caring. That\u2019s a recipe for disaster. I\u2019ve had my biggest downswings in concert with failed and failing relationships that sent me spiraling downward.\u201d<\/em> Said Wilinofsky<\/strong>.<\/p>\n Swapping pieces is the name given when two, or more, players agree to take percentages of each other\u2019s action in the same tournament. This spreads the variance and means that even if you don\u2019t earn any money you still have an opportunity to win something through the deal you have made with your partner.<\/p>\n Whilst this can be a good thing for your bankroll it can also be a bad thing as Dominik Nitsche<\/strong> explains.<\/p>\n \u201cBeing results oriented swapping pieces has definitely hurt me in the past. I don’t think that makes it a bad idea to swap pieces but it can be a pretty big bankroll leak if you are swapping with the wrong players.<\/em><\/p>\n \u201cIn general people should be much more careful about who they swap with. Swapping can be great, when done correctly, as it helps reduce variance in big tournaments.\u00a0 However, I believe that a lot of people are using \u2018reducing variance\u2019 as an excuse to justify making bad swaps\/have an interest in the tournament. Those swaps do hurt your EV and so I try to be careful and only swap with people I would also buy action of at markup.<\/em><\/p>\n \u201cReducing variance should only be a minor concern when swapping; the exception to that rule, however, is when you are deep in a big tournament.\u00a0 With 30 players remaining in a major tournament it can make sense to swap with players weaker than you.\u201d<\/em><\/p>\n Everyone has got one and if you don\u2019t hold yours in check at the poker table it can produce leaks quicker than a Welsh farmer.<\/p>\n David Nicholson<\/strong> explains.<\/p>\n \u201cBankroll management is the easiest concept in the world – don\u2019t spend more than you have got. And yet cockiness and ego clouds your judgment and makes bankroll management one of the most complicated concepts in the world.<\/em><\/p>\n \u201cThe difficulty comes with sticking to the rules. Your ego will chirp in and get the better of you when it comes to game selection decisions. It will tell you, \u2018Well you don\u2019t have the bankroll but you have been winning so take the risk.\u2019<\/em><\/p>\n \u201cNow risk taking is an important skill in poker, but reckless risk taking? That\u2019s the ego talking and a sure fire way of going broke fast.\u201d<\/em><\/p>\n The argument over whether poker is a game of luck or skill continues to motor on in some of the world\u2019s most illustrious courts. Poker players will fight for their right to declare their art one of skill, and yet the role that luck plays, sometimes takes center stage for some people and it can affect your bankroll enormously.<\/p>\n Marvin Rettenmaier<\/strong> explains.<\/p>\n \u201cWhen it came to my bankroll I got very lucky in the beginning of my career. I think I am very logical (analytical) and some things in poker just always made sense to me, but I was not anywhere close to the level of play I am at today. I don’t want to say that I was totally clueless but I definitely ran way above expectation.<\/em><\/p>\n \u201cI remember that I deposited 50$ and I played a 5$ tournament. I was one tabling and I finished runner up with a field of like 700. I was so excited that I started a 10$ tournament which I also one tabled. It had like 300 players and I won. I then won a satellite into one of the major online tournaments and won it the first time I played it.<\/em><\/p>\n \u201cI probably wouldn\u2019t be where I am today if I didn\u2019t get lucky at the beginning.\u201d<\/em><\/p>\n Once you get into the swing of the poker thing hopefully your bankroll will grow into something quite substantial. At this point you may need your roll to be liquid, so you can transfer it between online sites, and to various live casinos around the world.<\/p>\n All of this movement of funds costs money and if you are not on the ball, these small incremental charges can soon eat into your bankroll like termites chowing down on wood.<\/p>\n WSOP bracelet holder Scott Shelley<\/strong> explains.<\/p>\n \u201cTransferring money between payment processors can slowly eat into your profits. When it comes to the term \u2018bankroll management\u2019 the maxim \u2018every little bit counts\u2019 is an extremely important concept for a poker player. This is especially true when exchanging foreign currency and every effort should be made to exchange money with other poker players to avoid paying the juice.\u201d<\/em><\/p>\n One of the most important concepts to get your head around when actually trying to make this poker thing work is understanding how hard it actually is to make a profit.<\/p>\n So players have to bear this in mind when enthusiastically throwing their bankroll around buying pieces of other player\u2019s action. Earlier, Dominik Nitsche explained how swapping action with weaker players can be detrimental to your bankroll, and now I am going to focus on the damage that paying over the odds for your action can cause you.<\/p>\n A lot of the times you need to try and keep the gamble inside of you and do no let it emerge. Once it does, ego takes over, and like Dave Nicholson explained earlier problems will arise once ego is let loose on the game of poker.<\/p>\n Having a vested interest in a tournament is one thing, but you need to ask why are they even selling in the first place? If they really have the edge that their high mark up is suggesting then why do they even need your money?<\/p>\n You need to set the standard of only buying pieces of good players in good games. Players who have proven themselves capable over a prolonged period of time.<\/p>\n It\u2019s easy to forget how hard it is to make a profit in poker when things are going well for you. Hold onto that money and be wary of players trying to sell action at a high mark up.<\/p>\n","protected":false},"excerpt":{"rendered":" What\u2019s life like in your bubble? Mine is one of stress, gratitude and happiness. The stress element is one part I would like to remove from my life, but it\u2019s not always that simple. So what stresses me out? One of the major things that creates stress for me out will no doubt also plague<\/p>\n\u00a02# Travel Expenses<\/b><\/h3>\n
3# Exorbitant Purchases<\/b><\/h3>\n
4# Mindset<\/b><\/h3>\n
5# Swapping Pieces<\/b><\/h3>\n
6# Ego<\/b><\/h3>\n
7# Luck<\/b><\/h3>\n
8# Bankroll Management Costs<\/b><\/h3>\n
9# The Mark Up<\/b><\/h3>\n