Combining blackjack and poker bankroll

[alwayssplitaces]

Is it a good idea to use the size of my entire gambling bankroll when sizing bets for blackjack and choosing the stakes of poker to play? I play blackjack and poker and I have a net win in both games (my gambling investment is also outperforming my stock portfolio). I earn more per hour in blackjack but I have less variance in poker, and I am able to play more hours of poker per week. It's nice that the best time for live poker is the worst time for blackjack and vice versa. I have about $1500 in my online poker account and $8000 for blackjack and live poker. Could I use a $10000 bankroll instead of an $8000 bankroll to calculate my bet sizes and RoR?

 

[Jack_Black]

yes. keep very good notes on profit/losses for each session. I have one spreadsheet with multiple pages. I keep cumulative P/L for each gambling venture and note what my overall bankroll change is. it looks basically like a portfolio or a bank statement.

 

[zengrifter]

I have about $1500 in my online poker account and $8000 for blackjack and live poker. Could I use a $10000 bankroll instead of an $8000 bankroll to calculate my bet sizes and RoR?

Yes, BUT if your poker has greater variance you will need to adjust.
To know your poker variance you must calculate your personal STD. zg

 

[Lonesome Gambler]

What's your sample size for poker? If I recall correctly, you play live? I would absolutely NOT combine bankrolls, even if you have a net win. Can you quantify your edge in poker? Risk? How do you know you're even a winning player? Especially with such a small edge in blackjack, it's really asking for trouble trying to add in another game in which you don't have a very clear idea of your advantage or disadvantage.

 

[zengrifter]

even if you have a net win. Can you quantify your edge in poker? Risk?

That is why he'll need to calc his personal STD. zg

 

[blackjack avenger]

Oil and Water Can Mix?

One can combine risks. THOUGH WHY WOULD ONE WANT TO PLAY WITH RISK I HAVE NO IDEA. It has already been mentioned it's difficult to determine your poker bank?

So
One needs to be more conservative with poker.


An example, in a combined roll your bj bank can be 1/3 kelly while your poker bank is 1/4 or 1/5th kelly etc.

Perhaps let your bj bank grow to 1/8th kelly (Eliminate Risk) and poker can ride along?:devil:

I have no trouble figuring my "poker" bank. I give her my wallet and she gives me back what she thinks I deserve. Right Aslan and SageFrog?:laugh:

:joker::whip:
good cards

 

[MangoJ]

If I would not be sure about my poker variance, I would just use my poker bankroll for poker, and my combined bankroll for blackjack.

 

[Brock Windsor]

So long as you know your risk tolerance and advantage, your bankroll should be measured against your net worth. Say you have a 10k in your BJ BR, 10K in your poker BR, and 10K in equities. Your net worth will grow much faster betting 1/4 kelly on 30k then betting 1/2 kelly on 10k. Just remember to resize the bankroll regularly and most importantly KNOW your edge and risk tolerance so you can size your bets and investments accordingly.
BW

 

[alwayssplitaces]

I play both live and online poker. I have a win rate of 1.8 BB/100 over 241,535 hands online so I can assume the same winrate for live poker.

For live poker, I play 1/2 no limit hold'em and I usually have winning sessions. But I don't play as many hours live as I do blackjack. My live sessions are usually on evenings or weekends when the fish come out to swim. There's a lot of money to be made when people think a hand like Queen-6 is a wonderful hand to play.

 

[matt21]

I would suggest to use the combined BR to calculate your bet sizes. As long as you are not playing things simultaneously (which clearly you are not) you should view poker and BJ as two seperate strategies for 'trading/parlaying' your BR.

I use one BR amount for both my currency trading and my BJ play (rather than splitting my BR between the two). My currency trades are intraday so I never have positions open for long, it would be different if I was carrying positions for several weeks or months.

I asked myself the same question that you did, several months ago, and realised it would be profitable and correct to use one combined BR for both currency trading and BJ, even though they are obviously quite different.

 

[blackjack avenger]

BJ & Other Fun Endeavors

If one is going to combine investments, as they probably should. One needs to have a very low ror.

Perhaps
bj 1/4th kelly resizing
&
poker, day trading 1/6th kelly
or
win until you are at 1/8th kelly for all activities

good cards and selling
:joker::whip:

 

[MangoJ]

I would suggest to use the combined BR to calculate your bet sizes. As long as you are not playing things simultaneously (which clearly you are not) you should view poker and BJ as two seperate strategies for 'trading/parlaying' your BR.

I agree with that. In theory you can also play BJ and poker simultaneous from the same bankroll, as outcomes from both bets are statistically independent.
It is the same as people playing BJ on a shared bankroll, just don't sit on the same table.

This is as long as you know your EV and variance from your poker play. Blackjack is "easier" in this respect (both in estimation and strategy).

 

[moo321]

You should combine the bankroll. You'd probably be surprised at the stakes of poker you can play with even a modest bankroll.

Most casinos don't consistently go much higher than $2-5 NL, which would only require maybe $6k for reasonable risk.

On the other hand, if you're in Vegas and you want to play the $200-400 limit game at the Bellagio, you'd want a bit more cash.