Bankroll?

[Counting DJ]

Hi, just registered today, hoping to discuss blackjack with others

But first, I was wondering how you choose your bankroll? Say the minimum on one table was $2 and the max 200, what should the bankroll be? I think someone mentioned the max bet should be 1% of your bankroll. Could anyone help me out?

Thanks a lot

DJC -+-

[BJinNJ]

many things to many people.

It should be money you have absolutely no other use for, in case the
large negative variance monster takes it away.

The 1% of BR for max bet is the ideal full kelly bet. But full kelly is
actually about 3/4 of 1%, for your advantage isn't always exact.

You need to start your ed-yew-ka-tion by reading a few books, or at
least read/take Gamemaster's free online BJ School. Sorry I'm not on
my computer, or I'd give you the link.

You'll be better off studying a bit, first, before asking every question
under the sun here. Most of your questions were probably answered
here before, so search, too.

Good luck with your quest.

BJinNJ

[shadroch]

Welcome.
You have it backwards. You don't choose your BR. You choose your game stakes based on the bankroll. With a $200 BR,you pretty much need to stick to very low stakes games. $2 is great if you can find it.$5 is the minimum in most places.

[Wineburg]

Originally Posted by Counting DJ

Hi, just registered today, hoping to discuss blackjack with others

But first, I was wondering how you choose your bankroll? Say the minimum on one table was $2 and the max 200, what should the bankroll be? I think someone mentioned the max bet should be 1% of your bankroll. Could anyone help me out?

Thanks a lot

DJC -+-

Ya man, your bankroll is the amount of money you want to commit only to blackjack and you would not have a heart attack if you happened to lose it. Then depending on the size of your bankroll you choose the table stakes that are right for you.

[callipygian]

There are three main factors - you need to know, figure out, or decide what two of them are, and then the third is derived from the other two.

1) Maximum bet: the maximum you're willing to put on the table in one hand.
2) Risk of Ruin (ROR): the probability you'll lose ALL your money.
3) Bankroll: the amount of money you will need to have accessible.

So, if you know your maximum bet and risk of ruin, you can calculate what bankroll you need. Alternatively, given a bankroll and a maximum bet, you can calculate your risk of ruin. Finally, deciding on your risk of ruin and your bankroll can yield your maximum bet.

1) Maximum bet. The table limit has no bearing on this decision. You've got to have nerves of steel to spread from $2 to $200 (1:100). Most systems will teach a 1:4 or 1:8 bet spread. So at a $2 minimum table, your maximum bet would be $8 or $16.

2) Risk of ruin. If you're serious about card counting, you'll probably want to play such that you have a 1%-5% ROR. There are huge swings when you have your maximum bet out, and losing 10-20 big hands in a row is inevitable if you play long enough.

3) Bankroll. This is disposable money that you can completely lose and not fall behind on payments or default on loans or get yelled at by a spouse or feel like committing suicide. If you can't afford to lose it, you really shouldn't be gambling.