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Server Time: 11/22/2008 12:20:11 AM PACIFIC |
 bankroll, tron, 16. Jul 2003 16:51 | ||
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| what is the psychology of having 300x the BB for a bankroll? 2/4 = 1200 3/6 = 1800 5/10 = 3000 10/20 = 6000 | ||
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| Re: bankroll, PairTheBoard, 16. Jul 2003 18:59 | ||
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| In gambling there is a mathematical concept called "Element of Ruin". Even if you are gambling with an edge there is still a chance of going broke. Your Element of Ruin is the probabilty of going broke before you double your bankroll. A prudent element of ruin is maybe 5% and you should work with a bankroll large enough so as to produce an element of ruin small enough to be comfortable with. The bankrolls you describe are designed to do this. They also give you some idea of just how bad it's possible to run, even if you are a good player. | ||
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| Re: bankroll, tron, 16. Jul 2003 19:44 | ||
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| well said. thanks for the explaination. | ||
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| Re: bankroll, shorn, 17. Jul 2003 04:40 | ||
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| This is similar to something we utilize in my business: VAR or Value at Risk. It effectively gives you and indication of what the worst case scenarios are so that you can plan your investment policy/strategy appropriately. In poker, 300 BB's is the time-tested "value" needed for a solid player to survive a rancid run of cards while still being able to play effectively (not scared) and correctly. | ||
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| Re: bankroll, stdioh, 17. Jul 2003 09:10 | ||
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| I don't know about the psychology, but the reason for it is simple. You want to have enough money that bad luck will not bust you. If you are a winning player then it is very unlikely for you to have a downswing of more than 300BB. | ||
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