Often asked question
This question of what a sufficient bankroll consists of has been thrown out there time after time. Whether a bankroll can be replenished or not is obviously a factor on where to keep your ROR but I see these posts about people splitting hairs on what they can slide by with for a minimum bankroll and know that they may face a difficult road.
An example of this is that post where the player is saying, "I quit! I give up! I just lost a huge portion of all I have won in the last "X" period of time! I am going to do something else, such as start up a hotdog and t-shirt stand on the beach of Pago Pago, American Samoa!" They wrote that post because the swings are scary at times, losses are frustrating and the smaller your bankroll is the scarier it is.
When I see a success story of someone turning a relatively small bankroll of a few hundred dollars into something significant, I know they have beat the odds and done well in the short term. It could have just as easily gone in the other direction and it often does. I think we can all agree that a 1000 unit minimum bankroll is the way to go but even that is very shaky, perhaps insufficient and that you have to be prepared huge and crazy swings. Falter just a tiny bit as far as actual skill and you can have devastating losses.
How much bankroll is enough in my opinion? Enough that you can absorb any loss along the way without it affecting you emotionally like that guy giving up and starting the hotdog stand. Enough that you don't even know what your actual bankroll is and would have to get out a calculator, a clipboard and spend a couple hours trying to figure it out. Enough that to have a truly accurate figure you have to hire an accountant. Enough that you never fixate on any short-term results and are able to look at annual results and long range projections instead.
I wrote some sort of words to that effect once and a (young) player said, "If I had that sort of money I wouldn't have to play blackjack!" I had to reflect on this and reflect upon my mindset at that same age to understand his viewpoint of "the here and now", the desire for instant gratification which detracts from clarified conceptualization of a path that could take many years of time and investment and only works if you give it 100% and execute things flawlessly. Add to and pile up your bankroll... when it hits a million or so in the course of many years, you know you have truly achieved something.
I was on a plane ride once where I was seated next to a 20 something young guy that was talking to the person next to him about blackjack. He was talking as if he knew what he was talking about so I asked, "So... just how good a blackjack player are you?" He mentioned that he knows how to count and blah blah blah... He even said he was really good at it. What else could I say to him other than "Is that no sh*t!?!" He went on to explain that he was in Vegas with his buddy who was essentially following his cue on betting and strategy since he was the counter and more experienced player. I pulled out two decks of cards that I had with me and did a card-counting demonstration of Tarzan count. He was a little blown away at it all and he reminded me of so many other 20 something year olds that think they know it all but know nothing, including me... I was one of those once!
When the money is tighter you will sweat losses along the way. Have as large a bankroll as you can possibly have and build on it... go for the long haul. Most counters fail for various reasons and one of those reasons is insufficient funds. You can be the best blackjack player in the world and still take crazy, horrific losses in the short-term. You need enough money backing you up that you can shrug off any loss along the way rather than wanting to quit and muse over the possibilities of starting up a hotdog stand someplace. You need years of diligence to see the long run and there is no instant gratification in this game.