If you’re serious about poker then you need to be equally serious about your bankroll. The reason to have a bankroll is so you can weather losing streaks and not completely deplete your funds.

• Poker Budget Management System
• Poker Budget Management Software

9.1 Talking the Talk. Nearly all projects require money to pay for the required resources—labor, services, and supplies. Project success requires that project managers accurately identify the money needed for a project, acquire the commitment of those funds through a budgeting process, and then successfully manage the expenditure of those funds to achieve the desired outcomes.

1. If you plan to try out multiple poker sites before making a substantial deposit, it is very important to choose the lowest first deposit online poker sites to keep your testing investment as low as possible. Most poker websites will enforce expiration dates on any money in your poker site account after a period of inactivity (often 180 days).
2. In fact, getting back into poker was brought about by joining my university's poker society, who have game nights once a week, including a £5 entry tournament once a week. My budget is taking this into account, so it's really £15 per week: £10 for online, £5 for the.

How many times in a row is considered a losing streak? Five in row would bother many players but professional poker players knows that fluctuation (what some call luck) can be chaotic, coming in erratic waves that last even longer. The longer you play poker the more you will see that double digit losing streak – which is exactly why you need to a poker bankroll.

Types of Poker Bankrolls

Some poker players have a dedicated bankroll, some players’ goal is to have a dedicated bankroll, and some players just hide poker money from their partner. A casual poker player’s bankroll might be kept as any hobby or vacation fund might be utilized.

Recreational poker players who take the game seriously tend to keep a dedicated bankroll. These players might take out 20% of what they win. What they don’t do is take any money out of this precious poker fund to pay for dinner, slots, mortgage, or anything. In contrast, the professional poker player has to take money out of his bankroll for housing, taxes, retirement, healthcare, vacations, and all their living expenses.

What type of bankroll you need will depend on the reasons why you play poker in the first place. A beginner or casual player plays for fun and to learn. At this stage they play with what they can afford to spend for a hobby. They might go to the casino, play in some bar and home games, or put some money into an online poker site. It can cost money to have fun, and it’s a fast way to experience all aspects of poker.

The Size of Your Poker Bankroll

How much do you need for your poker bankroll? There are general sayings like, do not buy in for more than 2%-5% of your bankroll or quit a game anytime you lose more than 10% of your bankroll. Like most things in poker it depends. Other than the buy-in amounts, here are some of the things you’ll need to consider:

Type of Games

Firstly, it depends on the types of games you play since tournaments have a much higher variance than cash games. Granted, the prize pool can be very large in big tournaments, but even the best players can go a long spell without making any money. This makes for the high variance and therefore a high fluctuation in your bankroll.

Your Ability

The size of a bankroll also depends on how good a poker player you are. If you are a cash game player that wins 60% of the time, you obviously need a bigger bankroll than a player that wins 80% of the time. Loose players experience much higher variance than tight players. Players that learn how to be mentally strong tend to experience less variance than unstable players. The types of players you play with, their playing style and ability will also affects your variance.

The Betting Variations

The betting limits you play will also have significance for your bankroll. Limit hold’em players can have a somewhat smaller bankroll and follow the smaller end of the buy-in amounts than no-limit or pot-limit players. Limit players generally experience less volatility than no-limit or pot-limit, so your bankroll can be smaller.

The size of your bankroll will depend on many things, and it’s something you’ll have to decide for yourself. But for a general guide the following table may prove a useful starting point:

The professional would have to double these numbers to protect their lifelong bankroll. The casual player may be able to risk more, maybe 10% on a buy-in, but a dedicated bankroll should not risk more than 2-3% on any buy-in. Your poker bankroll is your lifeblood.

Building Your Poker Bankroll

Anyone, I repeat, anyone, can build a bankroll if they learn to play correctly at each level and keep within their limits. If you’re starting out then the main way to build a bankroll is slowly, through experience, not blowing through the levels and the money. If you’re financially independent and have the money to keep reloading then you don’t really need a poker bankroll. If your funds are limited then exercise discipline and follow our charts for guidance.

Conclusion

A sufficient poker bankroll is necessary to act as a cushion against variance. A bankroll is the one aspect of this crazy game of poker that we can control – which is why bankroll management is one of the most important poker skills. While it takes discipline, it’s a skill that must be learned if you are going to be successful at poker. Don’t risk too much money at one time by moving up too fast in levels. Let your poker bankroll dictate what limit you’ll be playing.

Poker Budget Management System

By David Sasseman

David lives in Atlanta, Georgia, and has played over a million hands online and many thousands of hands in Mississippi, Louisiana, Florida, Illinois, Indiana, and Las Vegas casinos.

A charity poker tournament or Casino Night can be a glamorous way to achieve your non-profit organization’s fundraising goals. The benefits of hosting a poker tournament are many – donors will look forward to the event and you will likely have the opportunity to introduce new supporters (who love playing poker) to your organization. This leaves plenty of room to achieve your fundraising goals with tournament ticket sales, rebuys (which are additional poker chips available for purchase, either to buy back into the game or to add to a pile of chips), fundraising raffles, and other activities. We’re here to walk you through how to run a charity poker tournament fundraiser and raise the fundraising stakes for your organization.

1. Research the Costs Associated with a Charity Poker Tournament

As with many fundraising events, planning begins with how much you want to raise from your poker tournament. Poker tournaments can be lucrative events, if well-organized and well-promoted. For a smaller event with lower ticket prices, organizations can raise $5,000-$8,000. For larger tournaments with higher ticket prices, you can raise upwards of $25,000. Plan with your committee what you’re looking to raise and how many attendees you project for your event. Before deciding the gross fundraising goal, understand the costs that are associated with a poker tournament:

• Venue
• Poker Table and Accessories Rentals/Tournament Staff (Dealer, Pit Manager/Tournament Director)
• Hors d’oeuvres and Beverages
• Fundraising Software
• Other Marketing Costs

Shop around for the best pricing for the service and quality that best fit your needs. With projected costs and a fundraising event budget, it is easier to understand how to determine ticket pricing and attendees needed to reach fundraising goals.

2. Plan the Fundraising Goal for the Tournament

Once you research the tentative costs, the following projections should be determined:

• What is the gross fundraising goal (how much to cover your fundraising goal and your costs, before any deductions are taken out)?
• What are some potential projections of how many tickets are needed to be sold at a certain price point? For example, how many seats would you need to sell at $50 per person? At $75 per person? At $100 per person?

When deciding the price point, consider that re-buys and add-ons can contribute around 30% of your fundraising amount. Consider this when projecting how many tickets need to be sold.

3. Discuss Poker Tournament Format and Additional Revenue Channels

The most popular format for charity poker tournaments is Texas Hold Em’.

You will need to have at least one poker expert on your planning committee that assists with format choices and all rules. The tournament director dictates how quickly the blinds (minimum bet of the game) rise throughout the duration of the game. Throughout the tournament, as more players are eliminated, the tables are combined until a final table is left. The final remaining three to five winners will have a choice of winning an appealing, high-priced prize.

Keep in mind that charitable gaming is legal on a state-by-state case basis. Often prizes cannot be actual cash tender but need to be non-monetary prizes. Of course, perform due diligence to find out your local and state laws on gaming and charity poker tournaments before planning. This information can be found in the office of the state attorney general.

A given additional stream of fundraising comes from the rebuys and add-ons. Another option is to utilize the poker tables that have been eliminated to run smaller and quicker poker games for smaller prizes. Other forms of fundraising can come from side games, which are other card or casino games such as roulette or blackjack. Casino Night fundraisers offer tables with all of these games to choose from.

Non-gambling related options include selling raffle tickets for a chance to win appealing prizes or hosting a silent auction. In addition, a charity poker tournament could be held in conjunction with a fundraising golf tournament, gala, or other special events.

DoJiggy offers fundraising raffle and charity auction websites to make it happen.

4. Plan Promotional and Graphic Collateral for the Charity Poker Tournament

Once the venue, date, and time have been determined, it’s time to plan the marketing and promotional collateral. Poker tournaments typically exude a concept of “a fun and classy night out.” The marketing collateral should express the same concept or theme. There are inexpensive flyer and collateral templates available online if your nonprofit organization doesn’t have anyone with graphic design experience. Marketing collateral may include the following:

• Poker tournament event invitation
• Flyers
• Website Banners and logos
• Printed items for the event (signage, tickets, step-and-repeat banners, sponsor signs)

The physical or digital flyer and the invitation should include the following information:

• Date and time of the tournament
• Location
• Poker tournament format (Texas Holdem’, 7-Card Stud)
• Attire requirements, if any
• Pricing of Buy-in and Re-buys
• Promotion of desirable prizes
• Sponsors
• The mission of your organization or charitable cause
• How the money raised will be used

5. Build an Event Website to Register Tournament Participants

DoJiggy event management software allows organizations to easily manage the entire life cycle of fundraising poker tournaments, including event promotion and marketing, sponsor and sponsorship management, secure online event registration, donations, detailed financial reporting, and day-of-event operations. The following are just a few features of our software:

• Online ticket sales with the ability to create custom ticket packages (think VIP)
• Sponsor registration and promotion
• Real-time financial reporting
• Volunteer management
• Brand customization for your organization and event
• Easy-to-use interface
• Secure credit card processing

Consider our low fees and we think you’ll agree that DoJiggy is the best fit for charity poker tournament management.

6. Initiate Sponsor Outreach for the Tournament

The poker tournament will only be as appealing as the prizes, so in-kind sponsorship procurement is one of the pivotal steps in organizing a charity poker tournament. Sponsorship support is also important because, in a charity fundraising game, cash tender prizes are not typically allowed by state regulations and laws (the specific legalities of your state should be researched).

Typically, there should be sponsorship outreach to procure prizes for the following: the top winners of the main poker tournament, side games prizes, raffles, and/or silent auction items. The retail value of the tournament prizes should also be considered, especially in comparison to the buy-in price. Here are some great prizes to consider:

• Restaurant gift certificates for high-end restaurants
• A seat to the World Series of Poker ($10,000 ticket value)
• A ticket/suite admission package to sports games
• A week-long or week-end vacation or retreat package

Always start with your connections. Consider casting your net out to your poker planning committee to see if there are employers or business owners here. For cold outreach, delegate the team accordingly so that outreach for both corporate sponsorship and local business sponsorships are performed.

7. Begin Event Promotion and Tournament Ticket Sales

Once all the details are in place with the venue, time and place, and top prizes, it’s ready to share the news with the world. Here are some places to garner ticket sales:

• Existing Supporters
• Past Sponsors
• Local Businesses
• Local News Outlets/Event Calendars
• Meetups
• Past Collaborators

Keep in mind to consider the most effective approach to soliciting ticket sales by what type of relationship is present. Existing supports, past sponsors, and local businesses are best approached in a face-to-face manner or with a warm phone call. Local news outlets and Meetups may be best with an e-mail sent to the main contacts. And as with many ticket sales, the magic behind the sold ticket is consistent follow-up. Send everyone to your event website for easy registration.

8. Prepare Volunteers for Tasks and Vendor/Venue Check-In

As the date of the charity poker tournament approaches, it is vital that the event has an all-star team on deck. That means that there is a lead volunteer or event coordinator that knows the agenda and the tasks involved throughout the night. Once these tasks are planned, finding volunteers to make sure that everything is handled is essential to event execution. Here are some volunteer and/or vendor roles to consider filling:

• Registration
• Greeter
• Event Set-up and Breakdown
• Master of Ceremony/MC
• Prize Presenter
• Coat Check
• Photographer/Videographer
• Raffle Sales
• Food and Beverage Servers (hors d’oeuvres should be provided as part of the ticket price)
• Runner/Back-up Volunteer

Approximately 1-2 weeks prior to the event, hold a meeting at the tournament venue. Vendors and volunteers should all attend, to assure that everyone is on the same page with the event agenda and their assigned tasks. Also, if there is any use of audio/visual equipment at the venue, perform a technical rehearsal to assure microphones work as expected and videos or slideshows play accordingly. This is also a great time to work and rehearse with the MC (master of ceremony) on the flow of the event.

9. Hosting the Charity Poker Tournament

Poker Budget Management Software

Be sure to run through all the materials that should be brought by your organization the night before the tourney. Prior to arriving at the venue, have plenty of cash on hand to handle change for rebuys and raffles. Also, it’s best to arrive at the venue several hours early to work with the poker table rental company to set-up the tables in a way that works for the venue layout. Run through the tasks one final time with the volunteers before doors open, offer a venue tour as needed (to know bathroom locations and other information) and assign them to their locations. From here, enjoy the evening as the games begin!

10. Wrap Up the Tournament with Numbers and Thank-Yous

Host a meeting with your tournament committee within a week of the tournament to discuss the successes and failures of the charity poker event. What can be done differently in the future? Keep a file with this information for next year’s committee. Another agenda point is to review the feedback received during the event to see where there could be room for improvement at future events. Turning a charity poker tournament into a successful annual event is contingent on how much fun your supporters have during the tournament.

The amount of funds raised will also determine if a poker tournament should be a comeback occasion. Work with your treasurer or committee to review how much money was raised from the event, after all of your final expenses are figured.

Don’t forget to send off hand-written thank-yous to your sponsors and attendees and let them know what impact they’ve had as a supporter of your organization or charitable cause. This is an important step that is not to be skipped! And that’s how to run a successful poker tournament fundraiser in 10 steps.

More Charity Poker and Casino Night Resources

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