Guidelines for Choosing a Hold'em Game
So you've decided to play Texas Hold'em. You've seen the big money fly around on TV in the ESPN telecasts of the World Series of Poker and perhaps you have heard Mike Sexton comment on the World Poker Tour. You see people walking away with millions of dollars and wonder, "Why can't I be so lucky?"
Well, friends, first of all, while poker involves a certain amount of luck, the game is far more about skilled strategic play. Players winning big tournaments have all honed their skills playing in games that they learned through experience to beat. In fact, when starting out, the selection of the best Hold'em game to play in makes all the difference.
I believe there are three factors to consider every time you decide to sit down at a table to play Hold'em. These factors are true whether you are playing online or in a live casino poker room.
1. What is my purpose for playing?
2. How big is my bankroll?
3. Do I have a positive expectation for winning?
Let's look at each of these factors for making a decision to choose a game.
What is my Purpose for Playing?
Perhaps I am a casual player just wanting to have a good night out, play a little poker, lose a little money and go home with a whole bunch of stories to share with my friends. If this is the case then you can choose any game you can afford to buy in to. You don't have to worry about bankroll management or if you have an expectation for winning. Entertainment is your goal and you will surely have some fun at about the cost of a fine dining experience.
If, however, you made the decision to make poker a serious pursuit, either as a serious amateur or professional, then you must consider the factors of bankroll management and positive expectation seriously.
How Big is my Bankroll
Your bankroll, sometimes called your stake, must be thought of as your most important asset; it is like your inventory. It must be protected from spoilage and loss. The size of your bankroll should be the determining factor governing your choice of games. In my experience the following guidelines for bankroll management assure that you will protect your bankroll against significant loss.
A� To play in a fixed limit Hold'em game with a buy in of 40 big blinds, 5% of your total bankroll is the top limit for buying in. If the big blind is $2 you need $80 to buy in and a bankroll of $1,600.
A� To play in a no limit Hold'em game with a buy in of 100 big blinds, 5% of tour total bankroll is the top limit for buying in. If the big blind is $2 you need $200 to buy in and a bankroll of $4000.
A� To play in a tournament, 2.5% of your total bankroll is the top limit for buying in. If the buy in including casino fees is $100 you need a bankroll of $4,000 to support your buy in.
Bankroll management is, perhaps, the most important factor in winning poker. It is always good to remember, if you go broke there is no guarantee that you will be able to win the money back.
Do I have and Expectation of Winning
Whenever you sit down at a poker table you are entering a competitive arena. At a full ring table there are eight or nine other players wanting to relieve you of your chips. You, on the other hand, want to do the very same to them. Now the thing that separates poker from other casino gambling games is the idea of expected value. Casinos make all of their money on the idea that over a long period of time they will earn copious amounts of cash based on their edge of expected value. They, of course, control EV by controlling the odds, paying out just a little less than the true odds. The casino has an edge.
Poker releases the edge to the savvy player, one who understands strategy, odds, deception and psychology. The major edge poker players have is a clear understanding of the equity or expected value of every hand. This provides us with all of the ammunition we need to consistently win so long as we are playing within ourselves and at a profitable level.
When choosing a game, pick one at which you have a clear expectation of being profitable. Choose games where you can beat the game. When you decide to step up a level be prepared to meet stiffer competition and be prepared to be easy money for a while. If you consistently win at $2 no limit, step up to $5 no limit and see how you do. You can always move back down a level if you are getting beaten. One strategy I used was to play at what I called my profit level four days a week and at a higher level one day a week. When I began to consistently win at the higher level I made that level my profit level and played at that level four days and the next level up one day. The point is, play at the highest level you can beat consistently and test the waters at the next level up 20% of the time.
So you've decided to play Texas Hold'em. You've seen the big money fly around on TV in the ESPN telecasts of the World Series of Poker and perhaps you have heard Mike Sexton comment on the World Poker Tour. You see people walking away with millions of dollars and wonder, "Why can't I be so lucky?"
Well, friends, first of all, while poker involves a certain amount of luck, the game is far more about skilled strategic play. Players winning big tournaments have all honed their skills playing in games that they learned through experience to beat. In fact, when starting out, the selection of the best Hold'em game to play in makes all the difference.
I believe there are three factors to consider every time you decide to sit down at a table to play Hold'em. These factors are true whether you are playing online or in a live casino poker room.
1. What is my purpose for playing?
2. How big is my bankroll?
3. Do I have a positive expectation for winning?
Let's look at each of these factors for making a decision to choose a game.
What is my Purpose for Playing?
Perhaps I am a casual player just wanting to have a good night out, play a little poker, lose a little money and go home with a whole bunch of stories to share with my friends. If this is the case then you can choose any game you can afford to buy in to. You don't have to worry about bankroll management or if you have an expectation for winning. Entertainment is your goal and you will surely have some fun at about the cost of a fine dining experience.
If, however, you made the decision to make poker a serious pursuit, either as a serious amateur or professional, then you must consider the factors of bankroll management and positive expectation seriously.
How Big is my Bankroll
Your bankroll, sometimes called your stake, must be thought of as your most important asset; it is like your inventory. It must be protected from spoilage and loss. The size of your bankroll should be the determining factor governing your choice of games. In my experience the following guidelines for bankroll management assure that you will protect your bankroll against significant loss.
A� To play in a fixed limit Hold'em game with a buy in of 40 big blinds, 5% of your total bankroll is the top limit for buying in. If the big blind is $2 you need $80 to buy in and a bankroll of $1,600.
A� To play in a no limit Hold'em game with a buy in of 100 big blinds, 5% of tour total bankroll is the top limit for buying in. If the big blind is $2 you need $200 to buy in and a bankroll of $4000.
A� To play in a tournament, 2.5% of your total bankroll is the top limit for buying in. If the buy in including casino fees is $100 you need a bankroll of $4,000 to support your buy in.
Bankroll management is, perhaps, the most important factor in winning poker. It is always good to remember, if you go broke there is no guarantee that you will be able to win the money back.
Do I have and Expectation of Winning
Whenever you sit down at a poker table you are entering a competitive arena. At a full ring table there are eight or nine other players wanting to relieve you of your chips. You, on the other hand, want to do the very same to them. Now the thing that separates poker from other casino gambling games is the idea of expected value. Casinos make all of their money on the idea that over a long period of time they will earn copious amounts of cash based on their edge of expected value. They, of course, control EV by controlling the odds, paying out just a little less than the true odds. The casino has an edge.
Poker releases the edge to the savvy player, one who understands strategy, odds, deception and psychology. The major edge poker players have is a clear understanding of the equity or expected value of every hand. This provides us with all of the ammunition we need to consistently win so long as we are playing within ourselves and at a profitable level.
When choosing a game, pick one at which you have a clear expectation of being profitable. Choose games where you can beat the game. When you decide to step up a level be prepared to meet stiffer competition and be prepared to be easy money for a while. If you consistently win at $2 no limit, step up to $5 no limit and see how you do. You can always move back down a level if you are getting beaten. One strategy I used was to play at what I called my profit level four days a week and at a higher level one day a week. When I began to consistently win at the higher level I made that level my profit level and played at that level four days and the next level up one day. The point is, play at the highest level you can beat consistently and test the waters at the next level up 20% of the time.
