Building an Online Bankroll at Low Stakes
Starting an online bankroll from scratch is never an easy task. The lower limit games are populated by donks and fish, and it’s very easy to lose your head and quickly blow your entire bankroll. However, there are a few tips you can follow to make sure your first deposit is the only deposit you’ll ever make.
A question that’s asked frequently is, “How much should I deposit?” There’s no simple answer to that question, but the answer I always give is “whatever you can afford to play with”. You should not deposit any amount of money that will be sorely missed if lost. I would say that a good first deposit ranges between $50-100 US, as this gives you enough money to play a wide variety of games. Sites will often help you out with deposits. Almost every site has a 100% first deposit bonus, where they match your deposit amount and give it to you in increments based on your volume of play. Don’t make the all-too-common mistake of playing too much or over your head just to get the bonus. Think of it as an extra reward for playing your usual limits.
Another commonly asked question is, “Well, what games should I play?” This question is totally person-dependant. It ends up inevitably that some are better at cash, MTT’s or SNG’s. Not many people can claim that they can play all three types effectively. How do you find out which one is for you? You just have to try them all. Trying different games is a lot of fun, and hey, isn’t having fun the aim of the game anyway? If you make a little money on the side, then it’s just icing on the cake. There are some rules that you need to follow in choosing your limits, which leads me onto my next point.
Bankroll management (BRM) is one of the most underrated tools one can use to help them be more successful, and it applies to both live and online poker. This concept involves controlling what stakes you play by the size of your BR. Chris Ferguson detailed a very strong BRM plan for his 0-$10k challenge. This stated that for MTT’s, the BI should be no larger than 2% of your roll. STT should be no larger than 5%, and you shouldn’t buy in to ring games for more than 5% of your roll. BRM won’t stop you from going broke – all it will do is slow that process down and allow you to get more play from your BR. Don’t be ashamed to step down limits if you lose a portion of your BR; even the best have done this at some point. Following strict BRM guidelines will help protect your roll.
Also highly underrated, but possibly the most useful, is learning and improving as you go along. Reading to improve on your game is so important, as nobody’s game is anywhere near perfect. There are hundreds of books and poker sites like this one dedicated to poker, which will help anyone improve their game. As you become better, you’ll notice yourself winning more and more, and soon enough you’ll be playing much higher limits. Don’t become on of the many players who complains when you can’t beat the bad players – all you are then is just one of them. Work on your game, and the rewards will come.
If you follow these tips, plus other basic ones (such as don’t play when you’re angry, don’t play whilst drinking ect.), it is quite easy to build a game at the low stakes and move on to becoming a winning player.