The idea of moving up in stakes can be both exciting and scary at the same time. Whether you play poker online or live, cash games or tournaments, taking that next step can feel perilous.
Here are a series of key questions to ask yourself before you take the leap and up your stakes.
Are you bored?
Upping the stakes often comes at a point in your playing career when your current player pool (at your buy-in level or stakes) becomes a comfort zone. You’re able to easily exploit weaker players and don’t feel a sense of risk, while earnings are fairly consistent.
The temptation is to remain there, but remind yourself that you were once a novice at this level, and you built up the resilience and skill to get to this point. Moving up means testing your resolve again, but over time you will reach the same level of comfort if you keep progressing and improving your game The main difference will be the size of your earnings.
Are you winning more than losing?
Analyzing and knowing your win ratio and profitability at your current level is critical. There is no point in moving up if you haven’t profited over the long term thus far.
A simple calculation is BB/100, which is the number of big blinds you’ve won per 100 hands over a select period of time or number of hands. For example, if you played 50,000 hands of no-limit hHold’em with a big blind of $0.05 and won $100, then you can say that you’ve won 2,000 big blinds per 50,000 hands.To get the BB/100, divide your wins by the number of hands and multiply by 100: ((2,000 ÷ 50,000) X 100) = 4. This gives you a win rate of 4BB/100.
Anything below 3BB/100 is considered risky, so try to get to this point before taking a shot at a higher stake. Also, if you haven’t hit at least 50,000 hands at the current stake, this calculation can be misleading, as it requires high volumes to smooth out variances in the game.
Thankfully, there are numerous apps and HUDs (heads-up displays) for online sites that players can use to track their results, which enables you to avoid doing these calculations manually.
Can you afford to lose more?
While a few attempts at a higher stakes may give you a sense of your ability, the size of your bankroll must match your ambition. If you consistently withdraw your earnings at the lower stakes, you’re not likely to have enough to compete at the higher ones.
When you play poker for real money, it’s a lot like investing and requires patience for the long game. Your form will ebb and flow, and you need enough money to fund the lows, which may come before the highs. Profitability is not measured per game but rather as an average over time and in many games. Variance is a very important hurdle for poker players, and you must have the bankroll to handle variance.
Like a business, you need to have a reserve deep enough to fund costs while waiting on revenue to flow in.
Have you taken a few shots?
Once you’ve established that you have an adequate win rate, you need to take a shot at a higher-stakes game. You’ll want to choose a game carefully, give it your best, and assess the results – dipping your toes into a deeper end of the pool, you might say.
This will test your comfort levels with the higher risk. When you take a shot, make sure that you assess the quality of the table and opponents and have a big enough bankroll to sustain a bigger loss than you’re used to.
Once you’ve taken a few shots and feel confident that your ability and skill are adequate to compete at that higher level, you can comfortably move on to the next question to ask.
Can you manage your tilt?
A strong mind and a high level of emotional balance are required to succeed at any level in poker. Tilt, the fear of losing money, can be the Achilles heel of any player. Top players who have won millions have admitted to being susceptible to it throughout their careers, particularly in high-stakes games.
Moving up in stakes amplifies tilt and can have a very negative impact on your gameplay. You may end up changing your game when afflicted and lose the competitive edge that made you successful at the lower stakes. Play to your strengths and the skill that brought you up. Understand that while your losses are bigger, the game hasn’t changed.
Do you know when to play?
This refers to your ability to assess when the games are good, you are at a peak level of performance, and you are emotionally and mentally strong. Don’t go in guns ablazing. Take your time initially, and analyze the new player pool. Give yourself the time and space to make good decisions to avoid tilt.
Observe trends in the new player pool, and choose your tables carefully. Target the recreational players, and try to secure a seat to their left. Remember, they tend to be online over the weekends and after work, so plan your schedule accordingly.
Move up with Borgata Online
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