Tuesday, April 03, 2007

Never Chase a Bonus When There is a Time Limit

Well I made a mistake in bankroll management last week. About two weeks ago Fulltilt sent me an e-mail stating they would give me a $50 bonus however I had until April 1st to clear it. Now the thing I like about Fulltilt is they release the bonus $5 at a time which is nice, but the time limit thing sucks. So right away I clear $5. Now I'm playing no limit hold'em .05/.10 blinds which I shouldn't have been doing with a $50 bankroll there. I should have had at least $100 if not $200 to be playing at that limit, but there is no other option on Fulltilt. So Saturday I was close releasing another $5 with April 1st being the closeout. So I played late into the night with no luck and ended only with $10 in my account at 3 in the morning. So I went to bed thinking if I play a tournament when I wake up and win it it I could still clear it, I was so close. When I woke I played a tournament and placed 3rd so I went back to play some more cash no-limit. I was back to $10 and looked to see how close I was to the bonus. But I didn't see there was a time as well as date. I only had until 8:30 the morning of the 1st. So now I'm down to my last $10 bucks on Fulltilt.
So my plan of turning $50 on five sites into $10k on each wasn't looking good on Fulltilt. So my first lesson don't chase a bonus on a limited bankroll, it's not worth it.
Next thing I decided was since I have over $150 on PokerStars and Ultimatebet that I should get AbsolutePoker and Bodog up to the same amount as well. I would also go broke on Fulltilt or build my bankroll back up.
So with my $10 on Fulltilt I would either win or leave the site for good. I played 4 sit'n'go's yesterday and I placed in the money all four times building my bankroll back up to $25. I took two 3rd places, a 2nd place, and a 1st place. So not bad, I was playing $2.00 sit-n-go's.
So tonight I will go back to Fulltilt and do the same. Maybe I can get back to $50 tonight, that would be nice.

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