Play Poker Online

Whether you know how to play poker already or are just interested in learning, you should try online poker! Many people today like to play poker online for fun and enjoyment. You never know whom you will meet in an online poker room. Some sites even have poker professionals who play poker online from time to time.

To play poker online, you will need to create an account at a poker web site. This does not involve depositing any money into the site – almost all sites offer free registration. You will get an amount of free chips with which to play poker online. Usually, it is 1,000 chips. If you run out of chips, you can renew them after a certain period of time – 10 minutes or so. You can choose low limit rooms or high limit rooms to play in.

There are many different type of poker you can play online. When you play poker online, you can often choose from No Limit Texas Hold’em, Limit Texas Hold’em, Omaha, Pot Limit Omaha, Omaha Hi Lo, 7 Card Stud, Stud Hi Lo Razz, and HORSE. If you are not sure how to play poker, most of the sites offer tutorials that will teach you the basics of the game. You can even watch other people play to help you learn the game before you start to play poker online. If you have a question about a particular hand and how you played it, check to see if the poker web site has a forum where you can post questions for other players.

How to Use the Bankroll Formula and Standard Deviation in Poker Forecasting

Forecast based on actual past performance

If we use a WR of 4bb/100, SD of 70 and 370K hands (120K played and 250K in the next year) the expected range of win rates based on past performance and required Bankroll can be forecast. We know the SD should fall as a player become more consistent, so this is a worst case scenario.

SD = 70
3SD = 210
Hands = 120,000 (370,000)
Hands/100 = 1200 (3700)
SQRT (Hands/100) = 34.6 (60.8)
3SD/SQRT (Hands/100) = 210/34.6 = 6.06 bb/100 (210/60.8 = 3.45 bb/100)
Range = 2 x 6.06 = 12.12 bb/100 (2 x 3.45 = 6.90 bb/100)

Therefore the expected range of future performance based on 120,000 hands, a WR of 4bb/100 and a SD of 70 is equal to -2.06/100 to 10.06bb/100 (4bb/100 +/- 6.06bb/100).

If we go through the same process using the figures in brackets for the end of the 250,000 hands (370,000 in total played) over the next 12 months, assuming the same WR and SD, the figures work out at a range of 6.90 bb/100 or 0.45bb/100 to 7.45bb/100 around a mean WR of 4bb/100.

Bankroll Formula

The SD can be used in the Bankroll Formula to find the required amount of Bankroll needed to achieve long-term success without going bust.

There are a number of different comfort levels of risk. A comfort level of 3 is normal, 4 is very safe and 2 is where you accept more risk, so we will use a CL of 3 in this example.

BR = Comfort Level x SD^2 / Win Rate

BR = 3 x (70*70)/4

BR = 3 x 4900 / 4

BR = 3675 bb

BR = $918 or 37 buyins at NL25

The current WR and high SD is suggesting 37 buyins as a safe Bankroll to use.

However if the player intends to improve skills and reduce the SD to 50, the BR falls to $469 or 19 buyins, $375 (15 buyins) with a 5bb/100 WR and $312 (13 buyins) for a 6bb/WR.

If you wish to accept more risk and use a CL of 2, the BR figures are $612 (25 buyins), $312 (13 buyins), $250 (10 buyins) and $208 (9 buyins) respectively.

It is a useful exercise to do on a regular basis to make sure you have sufficient bankroll and performance is improving.