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  Poker 101: Making your first deposit at an online poker room

  Thursday, November 6, 2008, Robert Lindley

  In our Poker 101 article series, we tackle issues that are relevant to beginning players. In this installment, Robert covers the logistics for making your first deposit online, as well as some tips and tricks to help you get the most bang f...Read more...
  
  

  *Title
  *Author
  *Date
  Image
  *Category		Poker Finance Miscellaneous Tournament Poker NL Hold'em Strategy NL Hold'em Shorthanded 7 Card Stud Pot Limit Omaha NL Holdem Heads Up HORSE Omaha Hi/Lo Limit Holdem Pot Limit Holdem Crew Cup Razz Rules and Strategy Poker Rooms and Deals PS Referrals PS Tournaments PS Points PS Promotions All About Pokerspace
  *Source		Paul Randall Real Poker Training CardRunners PartTime Poker Bluff Magazine PS Members
  Published?		Yes No
  *Text		<p><em>In our Poker 101 article series, we tackle issues that are relevant to beginning players. In this installment, Robert covers the logistics for making your first deposit online, as well as some tips and tricks to help you get the most bang for your buck.<br /></em></p> <p>So, you've been playing free money games for a while and you think you're ready to take the plunge into real money games online. That's great, but the first couple of things you have to decide is where you want to play and how much you want to deposit. I'm not going to spend a whole lot of time discussing different ways to deposit. That can be found by searching around and looking in the client of each of the poker sites.</p> <p>Let's tackle the first question of how much should you deposit. The short answer is it depends on what you can afford to deposit. I'm not going to try and convince you to deposit your entire paycheck on to a site. But, there are some other things to consider when trying to decide how much to deposit. What level games do you want to play? If you're wanting to play $1 sit-n-goes you don't really need to deposit $500. If you are planning on playing $27 sit-n-goes, then you might want to deposit more than $500. The reason I ask what level games you want to play is that it will help determine what dollar amount you want to deposit. The opposite of that is of course also true. If you can only deposit $50, the you probably don't want to play $27 sit-n-goes right? So, let's say you plan on playing primarily $11 sit-n-goes. Then I would recommend depositing at least 50 buyins at that level, or $550 minimum. If you plan on playing $1.10 sit-n-goes, then I would recommend depositing at leat $55.</p> <p>Now another thing to consider is what bonuses different sites offer for first time deposits. If a sight is going to give you a 100% deposit bonus up to some dollar amount, you might want to consider depositing enough to take complete advantage of the deposit bonus. This first time deposit bonus can only be used once. So, if you only deposit $50 and you get a $50 bonus great, but if you could deposit $500 and get a $500 bonus wouldn't that be better.</p> <p>But wait, there's a catch. Please read the details of a deposit bonus before depositing. Every deposit bonus that I know of requires a certain number of games to be played to "earn" the bonus, and there's an end date on the bonus too. So, if you have a $500 bonus let's say and you have 6 months to play however many games are required, you must get them done in time. If you don't you might have to forfeit the bonus all together. So, do some math. Most sites work the bonus on some multiplier. They might say 10 frequent player points for each dollar of the bonus. So, if you have a $500 bonus, and the multiplier is 20x each bonus dollar, that would mean you have to earn 5000 frequent player points to "earn" the bonus. That could either take a considerable number of games, or you could have to play a higher buyin than you're comfortable with to earn the bonus.</p> <p>Most people fail to consider what is required to "earn" a bonus. They get excited about getting $500 free, but they fail to read what is required to "earn" that $500. So, let's do some simple math. Let's say to earn you $500 bonus, you do in fact have to earn 5000 frequent player points. Well, generally about $1 in "rake" must be paid to get 5 frequent player points. The math can change from site to site, but let's go with the math I'm proposing. If 5 frequent player points are earned for every $1 paid in rake, you would need to spend $1000 in "rake" to earn your $500 bonus. $1000 in rake would require you to play 1000 $11 sit-n-goes. The important thing to consider is can you play 1000 $11 sit-n-goes in the period of time alloted without going broke. If you can, then you'll earn the bonus. If you can't, worst case scenario is that you go broke and have to redeposit to keep trying to earn the bonus. If you have to deposit another $500 to earn the $500 bonus, then you basically only break even at the end of it all.</p> <p>All of these things should be considered before making your first deposit. You don't want to deposit too much, but you don't want to deposit too little either. You want to maiximize your bonus, but you want to ensure that you can "earn" your bonus in the time alloted. It's always important to read all of the fine print on deposit bonuses and make sure you follow all of the instructions to the tee.</p> <p>The second thing to consider is where to deposit. It's important to shop around for deposit bonuses. The smaller the site, generally, the better the deposit bonuses. Let me try to explain this notion. If a site is huge, and they have millions of players, they don't really need to entice players to play there. But, if a site is smaller, then they are trying to encourage players to "try" their site out, and those sites will offer huge deposit bonuses. Other things you need to consider about sites is how easy it is to withdraw winnings. Also, do you like the way the site design and the client used to play. If you think you might want to try one of the smaller sites, check around on the internet to see what others say about it. Or ask in the forums here on Part Time Poker as well. You never know. You could learn some great things from other members of the site before you take a chance on that first deposit.</p> <p>But, be careful as well. Generally, if something is too good to be true, then it probably is. If you find a tiny site that is offering a 1000% deposit bonus with no requirements, you might want to ask around to see if anyone has heard of or played on that site before. I guess what I'm trying to say is to be careful. There are probably 6 to 8 poker sites that offer a deposit bonus that is worth checking out. If it's a much smaller sight or a brand new site, you should consider the risks of depositing with them at all.</p> <p>The most important thing to remember is to have fun. Don't go broke trying to earn a deposit bonus. Read all of the rules and requirements of the deposit bonus to make sure you can meet all the requirements. And last but not least, even if you have already made a deposit, you might be able to earn a "first time" deposit bonus if you ask nicely. I had been playing for almost a year on a particular poker site, and I didn't take advantage of my first time deposit bonus the first time I deposited. Well, I wrote their customer service department a letter, and they let me deposit again and use the "first time" deposit bonus code even though I had deposited once before almost a year before.</p>

• 

  Gaining Self Control at the Tables

  Monday, December 3, 2007, CasaJJ

  Over the past few years I have been an active member on numerous poker forums and I'm amazed at how often I see posts from people asking for help because they've lost their bankrolls. They cite all kinds of reasons and many don't have the ...Read more...
  
  

  *Title
  *Author
  *Date
  Image
  *Category		Poker Finance Miscellaneous Tournament Poker NL Hold'em Strategy NL Hold'em Shorthanded 7 Card Stud Pot Limit Omaha NL Holdem Heads Up HORSE Omaha Hi/Lo Limit Holdem Pot Limit Holdem Crew Cup Razz Rules and Strategy Poker Rooms and Deals PS Referrals PS Tournaments PS Points PS Promotions All About Pokerspace
  *Source		Paul Randall Real Poker Training CardRunners PartTime Poker Bluff Magazine PS Members
  Published?		Yes No
  *Text		Over the past few years I have been an active member on numerous poker forums and I'm amazed at how often I see posts from people asking for help because they've lost their bankrolls. They cite all kinds of reasons and many don't have the necessary poker skills, but most of these players simply lack self-control at the tables. <br/><br/> Lack of self-control can mean tilting, playing in an unfocused state of mind, playing outside of your bankroll or just being apathetic at the tables. I myself used to tilt in a very odd way. I wouldn't get mad or angry, but I would become somewhat numb and not care about the money. Sometimes it would be brought on by boredom, other times by bad beats or simply a bad day in general. <br/><br/> Early in my poker years I went bust a number of times before realizing that I needed to do something about it. I had read every book, watched every video and played numerous hours of winning poker. I knew that I COULD play well, but I didn't all of the time. The problem was that the profits I would make in ten hours of solid play could easily be lost in ten minutes of poor play. <br/><br/> I began reviewing my records and discovered that most of my big loosing sessions weren't brought on by a bad beat that led to tilt. Instead, I would usually experience a slow decline in my focus as I played a session which would eventually result in poor decisions that started out small, but became more and more costly as time went by.<br/><br/> There were many reasons for losing focus during sessions. I would watch television, talk on the phone, chat on instant messenger, surf the web, eat, and any number of other things all while multi-tabling at my chosen poker site. All these diversions kept me from getting bored, while I grinded away at the tables and I didn't think it affected my game. After all, I won 90% of the time. The problem was that eventually all of these distractions led to poor decisions and those few losing sessions that would wreck havoc on my bankroll. To help regain self-control at the tables I drew up a list of rules and rituals for myself and promised to follow them for one month. At the end of the month, I was amazed at how well they had prevented me from losing focus and having those tilty sessions. As an added bonus, they also helped me to improve my BB/100 over the long term.<br/><br/> So what did I do? I created a binder. Before each and every session I would open the binder and read the first page that had a series of 10 questions for me to answer before playing. These 10 questions were key to increasing my profitable sessions at the tables. The questions are:<br/><br/> <strong>1. Are you rested?</strong><br/><br/> Playing tired is an easy way to lose focus and make poor decisions at the table. Never play tired.<br/><br/> <strong>2. Have you set a session length?<br/></strong><br/> I would often sit at the computer and just play for hours on end, eventually leading to a lack of focus. By setting a predetermined session length I forced myself to take a break after a period of time. Eventually I found that for me sessions of thirty to forty minutes worked best. <br/><br/> What if I'm in a juicy game when my session is up? STOP. I'ld rather stop while in control than take a chance at jeopardizing a chunk of my bankroll. Besides, after a ten or fifteen minute break the table will probably still be going and I can rejoin with a renewed focus.<br/><br/> <strong>3. Will you be free from distraction?<br/></strong><br/> This is a big one. Turn off the television, instant messenger, phone, etc. I even ask my wife to not interrupt during my poker sessions. The key for me to play my A game is to have no distractions whatsoever. <br/><br/> But what if you get bored? Well, then you shouldn't be playing. Get interested in the game. Study opponents, make reads even when you're not in a hand, find leaks in your game. All of this focus will pay off in dividends. And remember, with shorter session lengths you won't become bored as easily.<br/><br/> <strong>4. Are you prepared to keep records?</strong><br/><br/> I log every session, the date, length, buy-in, game type, miscellaneous session notes, starting balance and ending balance. When you get to see your long-term results on paper you can identify trends. For example, I noticed that over time sessions of 30 to 45 minutes were the most profitable for me. Now I plan all of my sessions for no longer than 45 minutes without a break.<br/><br/> <strong>5. Are you prepared to record key hands and review your session?<br/></strong><br/> This was key to improving my game. Prior to each session I open up Notepad or Word and as key winning and loosing hands come up I save them. Following the session I review the hands to identify leaks in my game. <br/><br/> <strong>6. Do you have your charts handy?<br/></strong><br/> When I play I like to have a default strategy - a style of play and hand ranges that work well for me against unknown players. To help keep me in line with that 'ideal' range I created a chart for pre-flop hand selection that I keep in my binder. I have it handy when I play to help keep me from loosening up too much. If I know my opponents I will sometimes deviate from my chart, but only when it is a conscious choice and not out of boredom. I also like to keep odds charts and other info in my binder. I may not refer to it often, but when I need it I have it right at my fingertips.<br/><br/> <strong>7. Do you have Poker Tracker and PAHUD set to run?<br/></strong><br/> If you truly want to maximize your time at the tables you should be using both of these programs. Take the time to get them up and running, even if you are just sitting down for a quick ten minute session. They may help you make decisions that could result in considerable money won or saved.<br/><br/> <strong>8. Do you promise to play within your bankroll?<br/></strong><br/> Playing outside of your bankroll is a sure way to go broke. It may not happen today, tomorrow, this month or this year, but if you do not practice proper bankroll management you will eventually go broke.<br/><br/> <strong>9. Have you determined a stop loss?<br/></strong><br/> Some people feel that if you are in a good game where you are a better player than your opponents you should keep playing even if you're losing. Their rationale is that in the long run you'll outplay them and profit. However, you have to realize that if you're losing, you will not be able to play your A game. Even Phil Ivey agrees with me on this one. He has said that no player, regardless of how good they are, will ever play as good when they're losing as when they're winning. Set a predetermined number of buy-ins that you're prepared to lose and if you lose them, STOP. Do not try to recoup your losses. Take a break and wait for another session.<br/><br/> <strong>10. Do you promise to play your A game?<br/><br/></strong> Have you ever felt like you were playing okay, but not your best? If so, why play? Promise to always play your A game or not at all and if you find yourself slipping be sure to stop. Not in 5 minutes or when the blinds come around to you, but immediately. Whether it is because you're tilting, you're hungry, the kids won't stop yelling, or any other reason that you're not playing your A game - STOP. Are these questions/rules too restrictive? Sure, they can be, however if you are the kind of player who lacks self-control at the tables they are exactly what you need. I have read these rules over thousands of times and continue to do so prior to each session. They remind me of important things to do at the table and put me into a good frame of mind. <br/><br/> I know that there are sessions where I could have won more by sticking around longer, but I'm okay with that. I also know that I have given up on money from time to time when playing my B game would have been okay because my opponents were playing their C game, but I'm still happy I left the table. My point is that while I may have given up smaller profits here and there, I have maximized the time I do spend at the tables and most importantly, I have not gone broke or lost a significant amount of my bankroll since incorporating this pre-game ritual into my sessions.<br/><br/> In addition to these questions/rules I also set up a list of rules for myself when at the tables (see my article "Playing By The Rules"). Some of them are very general, some very specific, but all serve a purpose. They are in my binder and I review them on a regular basis to remind me of things I think are key rules to follow at the table.<br/><br/> I think of my binder as my Poker Bible. If I come across important information, key hand histories or even inspirational quotes, I add them to the binder. It is a resource for improving my game and keeping my focus in check.<br/><br/> I realize that this structured approach to playing poker isn't for everyone, but if you're a player who lacks self-control at the tables you should give it a shot. Just make that first promise to follow these rules for a month and then evaluate the results. My hope is that you'll find them as successful as I did and you'll never have to make another forum post about going broke.<br/><br/> Good luck at the tables.<br/><br/> Jason Billows<br/> a.k.a. CasaJJ<br/> "No guts, no glory" No brains, no bankroll!!<br/>