Odds, equity and theory
Risk of ruin in poker
Definition
The probability of losing your entire bankroll given your win rate, variance and bankroll size.
The more buy-ins you hold for your stake, the lower the risk of ruin. A common guideline is 20 to 30 buy-ins for cash games and 100 or more for tournaments, depending on the format.
A win rate that is only slightly positive makes the risk of ruin much higher than a strong win rate with the same bankroll.
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Related terms
- VarianceThe swings in results caused by luck, the gap between your expected result and what actually happens in the short term.
- BankrollThe money set aside specifically for playing poker, separate from the money you need for living.
- DownswingA losing stretch, sometimes long, that is caused by variance rather than by playing badly.