Friday, October 17, 2008

Cashing Out

Everyone that plays poker is trying to build up their bankroll so that they can play at a higher level.

The fastest and easiest way to do that is to not cash out at all until you reach your target level. But that's not always possible. Sometimes you just have to reach into your bankroll.

Back in the day when I played on Empire Poker (even before they merged with Party Gaming), and long before the Illegal Internet Gaming Act, it was as easy as a few clicks and the cash was in my bank account ready to use. Needless to say, I often took advantage of this to buy simple stuff tequila.

This slowed the build-up of my bankroll significantly, but at the same time, it did feel good to plop down cash that I had won from other people.... Still does actually.

In that way, I have to say that the IIGA has actually helped me because it forced me to create a specific strategy to reach my goal, and kept my grubby hands out of my bankroll.

Still always adhering to the 5% rule when playing, I now have a set cash out date each month. Once this date arrives, I cash out 30% of the month's profit. This does no damage to my bankroll and allows me to move up comfortably and quickly to the next level.

Using this technique on Bodog I have moved up 4 levels and increased my bankroll by 1200 percent in five months! Even with the cash outs! Let's see Warren Buffett do that.

A little boring? Yep. I have no desire for fame though, and am perfectly happy grinding out a nice living. Continuing to plop down my opponents money tequila.

Good luck and don't suck,