Bankroll Management for Multiple Accounts

    • philhellmutt
      philhellmutt
      Bronze
      Joined: 16.02.2011 Posts: 225
      This whole Full Tilt saga has made me think recently I'm glad to have 4 different accounts and spreading the risk, as opposed to having the entire BR on one site. Maybe this is something that should be talked about more in the poker world? Every investor knows that you should spread risk among different asset classes and fund managers, so why isn't this theory applied more in poker?

      I've read enough on BRM to know that having a roll of $50 means you should be playing 2NL, $125 for 5NL etc, but if you have more than one account, what is considered standard practice for BRM? eg I have $60 in Stars, $150 in William Hill, $55 in Party and $10 in 888Poker (from the free $8 starting capital).

      Should I take the total of these accounts ($275) to determine what limits I should play? In this case 10NL, or treat each account as a separate BR?

      Wondering how others treat this situation, coz I'm sure I'm not the first person to do this!
  • 13 replies
    • Dominatrixz
      Dominatrixz
      Bronze
      Joined: 12.09.2010 Posts: 91
      If you can always transfer money between the sites, then consider like you have 1 account, but if you cant always tranfer money between the sites then you should consider different BRM (like you have some money here, some there).

      Plus: Never had more than 10% of hole br on one site if you have Moneybookers or Neteller.
    • UPAY4DINNER
      UPAY4DINNER
      Bronze
      Joined: 27.09.2009 Posts: 21,923
      Great topic created here imo.

      Can't wait to see what all you guys think :D


      Gary
    • purplefizz
      purplefizz
      Bronze
      Joined: 12.03.2008 Posts: 4,508
      yea really interesting topic. nice one philhellmutt! :f_thumbsup:

      i think it depends if you're willing to bust your account somewhere and redeposit :) at the moment, my funds are a bit spread around too. if it's in my e-wallet, i sometimes consider it as part of my br because it literally only takes a few sec to deposit it. but if it's in Site A for example, it will take some time before i can transfer it to Site B.

      my personal practice is keeping in mind my poker bankroll (total) and a table bankroll (what i have on the site+ewallet).
      for the poker bankroll, you can follow whatever brm you have decided for yourself (eg 20 or 25 or 30 BI brm whatever), and for the table bankroll i feel comfortable playing with at least 5 buy ins or more because i dont really like to interrupt my tables to deposit. and if ive lost 5 BI, its a good time to stop and reflect on my play.

      that's my two cents :)

      smiles,
      wendy
    • kiromanAAKK
      kiromanAAKK
      Bronze
      Joined: 08.10.2009 Posts: 4,022
      How is it possible to transfer money between different accounts?
      TY :)
    • purplefizz
      purplefizz
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      Joined: 12.03.2008 Posts: 4,508
      having an e-wallet helps me transfer money between sites. :)

      1. withdraw from site A into e-wallet
      2. wait for funds to arrive in account
      3. deposit into site B using your e-wallet
    • philhellmutt
      philhellmutt
      Bronze
      Joined: 16.02.2011 Posts: 225
      Nice replies.

      Looks like I should open an e-wallet account then... ;)

      I've been depositing via credit card, so the funds aren't quite as liquid as they could be. I've heard about Neteller and other accounts - are they all 100% safe?
    • MarcPS
      MarcPS
      Moderator
      Moderator
      Joined: 09.11.2010 Posts: 1,077
      Originally posted by philhellmutt
      Nice replies.

      Looks like I should open an e-wallet account then... ;)

      I've been depositing via credit card, so the funds aren't quite as liquid as they could be. I've heard about Neteller and other accounts - are they all 100% safe?
      Both NETELLER and Moneybookers are regulated in recognised jurisdictions.

      They are both regulated by the Financial Services Authority in the UK.

      The FSA guarantees that 100% of all customer money for both services is held in separate trust accounts. That means that even if the worst were to happen, your money would basically be safe. Essentially, the trust accounts are a complex legal arrangement to say one thing simply: the money on your account is yours, not theirs, and you can access at anytime.

      In that respect, they are very, very safe. It's just like having a bank that doesn't have a branch you can walk into in terms of getting access to your money.

      What's more, you can sign up for either through PokerStrategy.com:



      If you have any other questions, please don't hesitate to ask!

      Best,

      Marc
    • Phgrinder
      Phgrinder
      Bronze
      Joined: 16.02.2009 Posts: 1,002
      Originally posted by purplefizz
      but if it's in Site A for example, it will take some time before i can transfer it to Site B.
      this, considering that most cashouts to ewallet for takes 2 - 3 days for approval, i stopped spreading my roll on multiple sites. i always have 20buyins only for the limits im playing on the poker room and cashout everymonth to my ewallet / bank.

      if i do decide to go multiple rooms again in the future, the total money in both rooms + my ewallet / bank will be my whole bankroll but will be putting 30buyins per limit per room and will be cashing out monthly also. ( 30 buyins to compensate for downswings / delays of transfering roll from site to site )
    • philhellmutt
      philhellmutt
      Bronze
      Joined: 16.02.2011 Posts: 225

      What's more, you can sign up for either through PokerStrategy.com:

      Awesome, thanks Marc!
    • deezer79
      deezer79
      Silver
      Joined: 13.06.2011 Posts: 191
      I have started using Moneybookers. They take quite a chunk out of you, fees and a bumped up currency exchange rate but it's worth it for peace of mind. First time I put some money onto Full Tilt someone hacked into the transfer and took £250 for themselves. Would rather not use my bank details online unless I have to.

      I've got a couple of accounts running at the moment with different size bankrolls and try to use good BRM for each. One account only has $115 and I play 3c/6c NLHE cash games. Considering I started with $30 on that account, it's not good BRM but I can't get interested in playing lower limits. Once I have it up to $200 I will be moving up in limits.

      Play what you are comfortable with (relative to bankroll) and at limits you will care about playing for, on each site. I have more than double the above on another site so I play at higher stakes there.
    • matel17
      matel17
      Bronze
      Joined: 11.07.2010 Posts: 1,278
      What chunk are you speaking of? I thought it was a fee of 1% up to 50cents for sending money and about 2 euros for withdrawing. Pretty cheap if I'm correct
    • deezer79
      deezer79
      Silver
      Joined: 13.06.2011 Posts: 191
      Last time I used it I moved $315 from a site onto Moneybookers. They then changed it into GBP and when I moved that onto another $ site it became $305. $10 disappeared making the transaction (approx). Maybe "chunk" was the wrong word but it was a noticable amount. This won't stop me for using the site again - reasonable price to pay for a secure transaction.
    • pzhon
      pzhon
      Bronze
      Joined: 17.06.2010 Posts: 1,151
      Bankroll management theory usually assumes that busting out is a disaster, not an inconvenience. If busting out means you go play on another site for a week while you wait to transfer money, that's annoying but not a disaster. So, you don't need to have enough money on each site to make it prohibitively unlikely that you will lose your balance.

      In fact, if you lost everything on every site, would you quit poker forever? Suppose your friends said, "We've seen poker on TV and it looks like fun. Bring $25 and some beer." Would you turn them down? If you lost your whole balance on a site, you wouldn't be happy, but you could probably find another $50. This is very different from a professional player with a $100k balance and a $2k/month rent. If the $100k goes, the professional player has to get a regular job to pay rent. He can't redeposit $50 and pay the rent from that. Your bankroll is the total amount you can afford to lose playing poker, not your balance, and most low stakes players have bankrolls significantly larger than their balances.

      Anyway, how you should treat multiple balances depends on how inconvenient it is to transfer money between sites, how much better the opportunities might be on one site versus another, and how large the chance is that your funds at one site will be frozen or lost. Any accurate rules will have to depend on the specifics of the situation.

      One of my students (a successful professional player) has a few thousand locked up in Full Tilt, but found a good bankroll management system: Cash out Mondays, Wednesdays, and Fridays. So, if her Full Tilt balance doesn't come out, it's only an inconvenience. Bankroll management is for winning players. Before you establish yourself as a winning player, you should have a budget, not a bankroll.