Paraphrasing the adage referring to football, “in poker the bankroll is not important: it is the only thing that matters”. The capital available for online poker is in fact the essential prerequisite for every poker player.
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For this reason, over time, many poker professionals, from Doug Polk and Carlie Carrel, have undertaken bankroll challenges. But how do you organize a ‘bankroll challenge’?
Let’s find out with tips from 888poker professional Nick Eastwood.
Is a bankroll challenge really the right thing to do?
To start, Eastwood emphasizes the necessity of having strong motivations to undertake the challenge.
“The first thing to consider before undertaking a bankroll challenge is whether it is something you really want to do. It requires a lot of time and takes away many resources from the main game you are playing. Furthermore, your win rate will probably be lower. Check carefully the reasons why you want to do the challenge. Do you want to test yourself from a mental point of view? Do you want to understand if you are capable of beating the level before a level-up? For me, doing a bankroll challenge made sense because I was doing it for fun and for content. But if this is not your situation, perhaps you are better off continuing to play normally.”
Set precise goals
In second place, the 888poker professional advises setting well-defined goals.
“When you decide you want to do a challenge, first of all start setting goals. How difficult do you want it to be? Do you want there to be time limits? Or should it be a win-rate challenge? Or should the goal be a certain profit? Personally, I did a challenge with a profit goal, but I think these are the most difficult challenges because they don’t have a definitive end. For example, if you want to see your win-rate over one hundred thousand hands, at the start you already know more or less how long it will take you.”
Choose the right stakes
Another crucial point of every bankroll challenge, according to Eastwood, is the starting stake, which is closely linked to the personal goals of the challenge.
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“As for where to stage the bankroll challenge, it depends on where you are currently playing. For example, if you are playing NL25 you can decide to increase the volume at that stake, just to give yourself a bit more discipline; or you can go down a level and test yourself at a lower stake, which is what I did. Some start from even lower stakes than they normally play, to test themselves and prove they can start with little and then move up the levels. Some decide to start from freerolls, without money. It’s all up to you because it’s your challenge.”
Choose how often to play
The 888poker professional then advises setting time limits.
“When you start a challenge you need to know how many hours you will play. Again, it depends on the person. If you feel you can perform well for prolonged periods, or perform better at certain times, use all that to your advantage. Personally, when I go live streaming, I struggle to keep focus and my A-Game for more than two hours.”
Decide when to move up in stakes
Finally, Eastwood specifies the necessity of setting rules regarding any level ups.
“If your challenge is going very well and you haven’t set parameters for leveling up, then it’s entirely reasonable if you want to take advantage of the situation and level up. If you feel comfortable at higher stakes it makes sense to be more aggressive, especially to keep interest alive and have the feeling that the situation is progressing. If during a challenge you feel like you’re stagnating, then it can become a bit boring and it might be difficult for you to complete it. “
Watch out for bankroll challenges!
As mentioned at the beginning of the article, a robust bankroll and its correct management are the essential prerequisites for every poker player who wants to approach the game seriously.
Biting off more than you can chew would be a gamble, so always play respecting the rules of bankroll management!
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