What is your main objective when you play Everygame Poker? While some enjoy playing poker simply for the fun experience, most players dream of making a real profit while having the time of their lives.
But as every experienced poker pro will tell you, generating profit from playing poker takes time, as you rarely get a chance to win a grand prize right off the bat. Most of the time, you need to take things easy and build your wins slowly but surely.
So, if you can't rely on winning big the first time you take a seat at the poker table, how much money do you need to start your poker journey? How can you ensure you won't run out of cash too early, nipping your dreams of turning pro in the bud?
How Much Money Should You Bring to a Poker Game?
The amount of money you need to play online poker can vary depending on several factors, including the type of poker, the stakes you want to play, and your approach to bankroll management. Here's a breakdown of what to consider:
1. What kind of game are you playing?
There are two main types of poker games you can play: cash games and tournaments. When you join a cash game, one chip is usually worth one dollar - a direct 1:1 ratio. It is recommended that you have at least 20 buy-ins for the level you're playing. For example, if you consider playing a $1/$3 (100-300) game where the buy-in can go from $100 to $300, you need to have at least $1,000 under your belt.
When it comes to tournaments, you have an entry-fee module to follow. For example, you can pay a $100 entrance fee and get 10,000 chips in return. The chips themselves don't hold any specific value, but those who hold the most chips at the end of the event will get a bigger cut of the prize pool. When joining a tournament, having 50-100 buy-ins for the tournaments you’re entering is a good guideline. A $1 tournament would require a bankroll of $50 to $100, while larger tournaments like $5 or $10 entry fees might require $250 to $1,000.
2. Are you playing live or online?
As a rule, playing online poker is more accessible to beginners than live games. Stakes start much lower online, as in a casino, most games have around a $100 starting point.
Taking that into account, experts recommend you have at least 100 big blinds when you play live cash games. If you enter the game with a smaller amount of cash, you might find yourself having to go all in too often for your liking, putting you in tough positions where you don't have any leverage over your opponents. If you choose to place bets online, you can find cheaper games to join, and depending on the entrance requirements, you can have a decent game with 30-50 big blinds.
3. What are the stakes?
Depending on how much risk you're willing to take, you should choose between low-stakes and micro-stakes.
- Micro-Stakes (e.g., $0.01/$0.02 or $0.02/$0.05): You can start playing with as little as $5-$20. These games are often very soft (beginner-friendly), but you never know what kind of players you will meet at the tables, so it’s important to manage your bankroll carefully.
- Low-Stakes (e.g., $0.10/$0.25 or $0.25/$0.50): A more comfortable bankroll for these games would typically be around $50-$200. It depends on how conservative you want to be in managing your funds.
4. Are you planning on joining a unique event?
- Sit-and-Go Tournaments (SNGs): These usually have smaller buy-ins, often ranging from $1 to $50 or more, depending on the platform and level. You’ll need a similar bankroll management approach with cash games or larger multi-table tournaments (MTTs).
- Multi-Table Tournaments (MTTs): These can have entry fees ranging from a few dollars to hundreds or even thousands, depending on the tournament series. You might want a bankroll large enough to enter several lower-stakes events, which can sometimes run for several hours.
5. What are the deposit and bonus considerations?
- Some online poker sites offer sign-up bonuses or freeroll tournaments (free tournaments with real money prizes), which can help you build your bankroll without an initial deposit.
- Remember that bonuses may require you to play a certain number of hands or meet certain conditions before they can be fully cleared.
Are You Ready to Start Playing?
If you're a beginner, you should first consider playing online as the amount of cash required to succeed at such games is much lower than in live games. But if you feel you are ready to step things up, pay attention to what kind of game you're joining, and what the stakes and buy-in rates are. And of course, always remember to play within your bankroll to avoid significant losses.