BANKROLL MANAGEMENT IN SIT AND GO POKER TOURNAMENTS

Bjorn Lantz

Journal of Gambling Business and Economics, 2016, vol. 10, issue 2, 1-10

Abstract: This study focuses on Sit and go poker tournaments, where a player with an advantage over her opponents needs to manage her bankroll properly. The study applies the Kelly criterion to games that have several outcomes, where the organizer charges a rake. The premise is that an advantage itself is not enough for a poker player to play at any stakes, because risking too large a fraction of the bankroll will result in a negative expected growth rate, even though the game itself is characterized by a positive expected value. Accordingly, this study uses a formula-based approach to address the challenge of identifying games where the player’s current bankroll has the highest expected growth rate, while also considering differences in the rake.

Keywords: Bankroll management; gambling; Sit and go poker tournaments; Kelly criterion; poker strategy; game theory (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2016
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