Shaggy
Full House
Hmmm funny. My poker bankroll grew about $200 that night. Additional thanks to @chipjoker... ssssBURN.
Poker Bankroll? (1 Viewer)
- Thread starter shorticus
- Start date
Hmmm funny. My poker bankroll grew about $200 that night. Additional thanks to @chipjoker... ssssBURN.
+1 for this app, I find it easy to work with and effective.
Donvito
Two Pair
Last two times playing at my place has been very very very good for @ShaggyHmmm funny. My poker bankroll grew about $200 that night. Additional thanks to @chipjoker... ssssBURN.
OP
OP
@DrStrange well stated. I think you can look at investing in poker chips as a way of investing. Chips will gain and lose value over time (in our case, hopefully gain), but you can say that it's just a way to invest the money you earn in hopes that you can sell when need be if you need to strengthen your bankroll.
Careful here....just because a thing changes in value does not make it an investment. Think of investments as things that generate income. A stock or bond generates income via dividend and interest. They can also change in value. A house generates income via rent (if you rent it out) or via free rent (if you live in it). They can also change in value.
Poker chips can and do change in value, and they can be a store of value, but that is not guaranteed. Liquidity is .....imperfect. See the classified section for examples of chips not selling.
Bankroll management is the best way to be a successful poker player over your lifetime.
Frogzilla
4 of a Kind
I track win/losses (and recommend you folks all do, too, even if you lose). But I don't keep poker funds separate from other money. So no bankroll for me.
MrCatPants
Full House
I started keeping a bankroll because my wife was worried I was losing a ton of money at poker. Now I'm able to regularly "show" that that is not true (and I may show it a little more often than I need to ).
That said, I wouldn't advise *everyone* to keep a bankroll - it may show the fishes that they're not actually winning players! But it does like @detroitdad said help you identify when it's just a little variance versus when your game (or the games you are playing at) have developed a leak.
).That said, I wouldn't advise *everyone* to keep a bankroll - it may show the fishes that they're not actually winning players! But it does like @detroitdad said help you identify when it's just a little variance versus when your game (or the games you are playing at) have developed a leak.
OP
OP
@Highli99 I'd argue that it is an investment based on the fact that the goal of it is to increase in value. With that being said, investments will not always yield positive results. I think your poker chip comment is spot on, and obviously you have examples to prove your point, but it further solidifies my stance that buying poker chips can be viewed as an investment if you are doing so to hold/maintain or increase your buying power over the course of time, economically speaking.
Poker chips are a collectible with utility, not an investment. Kinda like C&R firearms or antique cars.
No poker bankroll here but I do have a little "man fund" that is mostly spent on pursuits like pokering, bourboning and fishing. It is mostly replenished by things like "work" unfortunately. As an accountant I'll occasionally have some side jobs etc. that I can hide away and still sleep at night not telling the wife. She also has a "woman fund" which is totally cool with me. One of the main reasons I don't have a bankroll for poker is I told myself long ago that I am not going to let my urge to do things like play poker with buddies be stopped by something like lack of winnings!
OP
OP
chipjoker
Flush
Hmmm funny. My poker bankroll grew about $200 that night. Additional thanks to @chipjoker... ssssBURN.
this guy @Shaggy is an ........... Very nice guy, we have fun... My bank roll did go down 200 that night..
Rhodeman77
Straight Flush
I keep my poker winnings separate from household money, but I use a my poker money a lot of the time to pay for household things. Last year when our fridge went out for the second time in 2 years I bought a new one from my poker money even though the part was still under warranty, it wasn’t worth the aggravation we went through the first time.
I also used my poker money to pay for the new floor in my basement and diamond earrings for my wife even though we weren’t supposed to exchange Christmas gifts. She didn’t say to take them back lol.
My wife has come to appreciate my extra poker income now since the fridge and floor money didn’t come out of our savings at all.
When I have a downturn from variance I tighten up my spending a little to make sure I have enough money to play with.
My wife would probably have a heart attack if I told her a needed to take $3k out of the saving to go play poker some night. Though I should do it just to see what her reaction would be.
On the plus side of having a bank roll I haven’t used an ATM in 10+ years. I do have to occasionally need to go to the bank to cash a check to myself when enough people borrow and pay me back electronically to replenish the cash.
I also used my poker money to pay for the new floor in my basement and diamond earrings for my wife even though we weren’t supposed to exchange Christmas gifts. She didn’t say to take them back lol.
My wife has come to appreciate my extra poker income now since the fridge and floor money didn’t come out of our savings at all.
When I have a downturn from variance I tighten up my spending a little to make sure I have enough money to play with.
My wife would probably have a heart attack if I told her a needed to take $3k out of the saving to go play poker some night. Though I should do it just to see what her reaction would be.
On the plus side of having a bank roll I haven’t used an ATM in 10+ years. I do have to occasionally need to go to the bank to cash a check to myself when enough people borrow and pay me back electronically to replenish the cash.
I see it objectively whereas once you bring in intent, it becomes subjective. The value of chips is extremely subjective, and the lack of income generation affects intrinsic value.
Buying things without income generation as “investments” can be successful if you are fortunate to time correctly. It also the textbook example of what economists call “the greater fool theory”. Your strategy relies on the existence of a greater fool to be successful. That strategy can work gloriously right up until it doesn’t.
Buy chips because you love them or because you love using them. Be careful convincing yourself they are a way to make money or store value. The supply side is dynamic and the demand side is fickle.
GenghisKhan
Full House
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Ditto. I host a home game with all good friends. All my winnings have paid for my chips and accessories.
I think of it as reinvesting my friend's money to make it more enjoyable for them.
A few times my bankroll has gone to zero when a large (or surprise) chip purchase comes along. I either sell other chips to replenish the bankroll, or take a small amount out of savings to fund the next game then pay it back.
Like yesterday, I emptied my bankroll when my chip convention contact got me the Caesars I needed. So today I'm looking at what is expendable. Lol.
SendThatStack
3 of a Kind
If i were in that situation where i had to have a segregated bankroll and didn't have tons of spare money each month and i busto'd I would rebuild from a small starting amount like $200-300.
OP
OP
Fair enough.
bsdunbar1
4 of a Kind
OP
OP
This exactly describes my poker strategy
And it usually stops working for me, right before we get to the final table of a poker tourney
FiveThous
Two Pair
This is similar to what I have. It's just an envelope of cash I use as a place holder for things I want to do like poker, board games, or the newest Mortal Kombat.
trever
Flush
I have a "mine" bankroll that is separate from the "family" bankroll. "Mine" is funded via poker and other sideline sources of income (prostitution, selling kidney, etc.) and is spent on my own selfish interests. "Family" is the 'responsible grown up with a job' money and it covers all the responsible grown up things.
The wall between them has been breached a few times (both ways) but I like knowing which money is which and try to keep them separated.
The wall between them has been breached a few times (both ways) but I like knowing which money is which and try to keep them separated.
I have a completely separate poker bank account plus available cash bankroll. My bankroll finances my chip purchases and poker travel. As long as I win more than I lose, I am able to buy more chips and travel to meetups
OP
OP
I have a completely separate poker bank account plus available cash bankroll. My bankroll finances my chip purchases and poker travel. As long as I win more than I lose, I am able to buy more chips and travel to meetups
THAT. is. awesome!!!!
Poker bank account = tax issues?I have a completely separate poker bank account plus available cash bankroll. My bankroll finances my chip purchases and poker travel. As long as I win more than I lose, I am able to buy more chips and travel to meetups
Changster
Full House
10,000 bb’s is the general rule of thumb for the poker bankroll if you are playing regularly. Can go a lot less for a capped non deep stack game. Or no bankroll at all if not playing regularly.
I started the bank account when I first started playing online years ago. I didn't want poker sites having access to my main bank accounts. My poker bank account balance is kept well below a taxable threshold.
OP
OP
Y’all are lucky. In Louisiana, there’s no online gambling.
Except if you are audited. IRS will treat cash deposits as income.
Yellowfin
High Hand
I had a bankroll back when I was playing almost daily. Helps with money management and seeing what types of games I'm able to play comfortably. I believe for long-term success it would be best to have one.
1A25R
Flush
I have a bankroll for CG, but I do not track the sessions anymore as I do not play that often as before.
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