Friday, August 24, 2007

Poker Bankroll Management

To be a successful poker player you have to be able to exercise good bankroll management skills. If you are unable to manage your poker money correctly, you will never be able to become a long term winning poker player. Even if you were the best player in the world, it would be impossible to be able to make money from poker if you did not use good money management skills.

Bankroll management basically involves playing at a certain levels and buy-ins to help prevent yourself from going broke at the poker table. You have to set yourself limits to where you can play poker due to the variance found in every poker game. There are always going to be times where you have runs of bad luck that you cannot control, and you will lose money due to the bad runs of cards, and not necessarily due to any bad play. Therefore there is no use in putting all of your poker money on one table, because there is a good chance that you will lose it all and not be able to continue playing poker.

As a result, it is important that we have a large enough bankroll to absorb the effects of this variance so that we can continue to play poker even when we have very bad runs of cards. In addition, we don’t want to go over the top and play at micro levels with a huge bankroll because it is unlikely that we will go broke, and we want to give ourselves the opportunity to win a decent amount of money from our poker sessions. Therefore there are useful rules that you can follow to make sure that you give yourself the best opportunity to make money from poker without going broke.

In cash games, you should never put more than 5% of your bankroll onto the table at any time. So if you want to play in $1/$2 cash games and intend to buy in for the full amount, you should have a bankroll of at least $4000. This will then give you enough room to take a few bad beats and losing sessions, but still be able to continue playing poker without the fear of going broke. Another way of looking at the 5% rule is to remember that you should have 20 times the maximum buy in of the level you wish to play at in your bankroll. Most online poker rooms offer a wide range of limits, so it is perfectly possible to keep your bankroll under control, no matter how large or small it might be. Alternatively, if you are a tournament player, you should have around 40 buy-ins minimum for the level of tournaments you wish to play in.

It is important to remember however that bankroll management is only useful if you intend to play poker regularly, and that you are a winning player. If you only play poker casually then it is not as important to have a set bankroll, but to just be careful with your money instead. In addition, bankroll management will have no effect on your moneymaking endeavours if you are a losing poker player. However, bankroll management will slow down the time it takes for you to lose the money if you are used to playing at higher stakes.

Tuesday, August 21, 2007

Conspiracy to murder over Poker Debt

Two men from Colorado were charged with conspiracy to commit murder for allegedly plotting to use deadly rattlesnakes in an attempt to collect a significant poker debt. According to local law enforcement, Herbert Paul Beck and Christopher Lee were evidently attempting to murder Matthew Sowash, the owner of the Amateur Poker Tour, due to a $60,000 debt.

Investigators on the case were reported as saying Steelman confessed about the plot against Sowash. In the confession he revealed that it was Beck who suggested the use of the snakes in order to kill the would-be victim. It was also disclosed that some discuss was had over the kidnapping of Sowah's children as bargaining chips in retrieving the money. On his part, Beck said that Sowash repeatedly refused to pay him the debt money. The money has been an object of dispute for quite a bit of time. No mention of interest regarding the amount.

The two would be murders finally chose a plan to construct a wooden box then to put the snakes in it. The intention was to make Sowash place his legs in the box with the lid on, not allowing him to pull them out. This creative plan was not carried out. The sensible businessman contacted the Colorado Bureau of Investigation in response to numerous threating emails he had received from the suspects. Beck and Steelman are both well known to police in connection with previous offenses.

Sunday, August 19, 2007

World Poker Dealer Championship Rule Changes

Binion's Casino, Las Vegas, Nevada and Poker Player Newspaper have altered the World Poker Dealer Championships rules lifting virtually all limitations on sign-ups. The four events have been changed from a representative tournament to an individual tournament. No longer does a player or owner of a public card room need to be sent on the behalf their location; they may register to play on their own.

Here are the events and the changes:

1 – The Ladies Only Event: $500 buy-in +$50 entry fee - Any woman who works for a public card room, on any level.

Ladies may play in one of the next three events, as qualified. Men may select only one of the next 3 events.

2- The Dealer's Event: $1000 buy-in + $100 entry fee - Anyone who has dealt in a public card room in the last 12 months. Circuit dealers are eligible.

3- The Supervisor's event: $1500 buy-in + $150 entry fee - Any employee except a manager or above, up to and excluding owners. Dual rate employees may decide on either Event No. 2 or No. 3

4- The Manager's and Owner's event: $2000 buy-in + $200 entry fee - Card room managers and above, or owners. Owners are defined as having at least a 5 percent interest or greater, or a member of the tribal council if from a Native American card room.

Everyone who wins a cash prize will be required to show ID proving them to be at least 21 years old. Trophies will be awarded to all individual winners, as well as to the card rooms from where they came with the winners' names inscribed on a permanent trophy to be kept on display at Binion's. The annual event is organized and managed by Sludikoff Gaming Tournaments a subsidiary of Poker Player Holding Company,