Poker Winner Blog

Some players really do have bankrolls that can outlast their life expectancy. In Southern California, where there’s always lots of loose money at play in card casinos, these players have the derisive nickname “trust-fund pros.” Many play every day and will swear to you that they are long-term winners. Trust-fund pros seldom deceive their opponents no matter how strongly they claim to be winning players. They delude only themselves, and their opponents know it.

The price of self-deception, however, can be high. Consider a 40-year-old trust-fund pro who plays $10-$20 and loses an average of one big bet per hour. If he plays 2,000 hours a year and lives to be 85, he can expect to lose $1.8 million by playing poker. Outside of a very select few, that’s a lot of money by anyone’s measure.

Suppose this particular player is not really that bad and loses only $3 per hour. He’ll still run through $270,000 in the course of his playing lifetime. It’s not as bad as $1.8 million, but still a stack of jack for most folks.

The best thing you can say about this player is that he did a good job of financial planning if he started with a $270,000 bankroll and spent his last dollar on his last day of life. (If he did a perfect job of financial planning, he’d work it so close to the nub that his check to the undertaker would bounce.)

Most players supplement their playing bankroll. While there are more than a few trust-fund pros out there, many players underwrite their poker with their paycheck. Poker, for the majority of players, is recreation — just a hobby — and if they lose today, it’s no big deal. They can supplement their bankroll on payday, and as long as their losses do not exceed their discretionary income, they don’t need to concern themselves with having an adequate bankroll.

For all the players who are not lifelong winners (and estimates suggest that 85 percent to 90 percent of all players do not beat the game), an adequate bankroll means either a trust fund big enough to sustain a lifetime of losses, or a paycheck that can cover their losses from one payday to the next — without risking the rent.

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