Poker Start-Up Expenses

Hope I can take this opportunity to thank those who have been sending me email. I try to answer every one sent. As I promised someone, I’ve been looking into what kind of expenses a new micro-limit player should expect online. I decided to provide my own start-up expenses and contrast them with what I’d reccomend for a new player.

Books I Bought
Thursday Night Poker: How to Understand, Enjoy and Win $19 retail
Hold ‘Em Poker $21 retail
Hold’Em Poker for Advanced Players (Advance Player) $33 retail
Total: $53

Books Beginning Players Should Buy
Getting Started in Hold ‘em $18
Small Stakes Hold ‘em: Winning Big With Expert Play $16.50
Total: $34.50

Comments: As I noted in my review, Ed Miller’s book Getting Started in Hold’em is a catagory killer when it comes to introducing new players to the fundamentals of hold’em as it is profitably played online. Players don’t need to read “Small Stakes” until after the first book is read, digested, and play-tested.

Software I Bought
Wison Software Turbo Texas Hold’em v5 with advisor, books $125

Software I Reccomend
Poker Tracker $55

Comments: Whatever simulated game experience you want you can get free online in the “Play Money” sections of most online cardrooms. As for the advisor, it’s not bad, but tough to listen to a lot. Poker tracker analyzes your real-money play, much more valuable than simulation software. Plus, the first 1000 hands are imported and analyzed for free. An incredible value.

Online Fees
Neteller Instacash Deposit Fees $30

Fees New Players Actually Have to Put Up With
$0

Comments: American credit card companies no longer allow transfers to online poker rooms. Alternate means usually involve fees to get it done quickly, or giving out your checking account routing information to a company, something a lot of people aren’t comfortable with. However, you don’t need to worry about this. Create a checking account that you won’t use for anything but your online poker bankroll deposit (free at your credit union). Get some sample checks for the routing number (free at my credit union). Deposit your online bankroll into the account. Open a neteller account and fund it via the special checking account. Now you don’t need to worry about having money stolen from you via your checking account routing number. If you want to avoid this completely, you can find a Party affiliate you trust, send them money, and have them deposit it for you in your Party account. I’m happy to do this for anyone who signs up through poker-musings links of course. Contact me if you’re looking for this option.

Bankroll
$500

Beginner Bankroll
$150

Comments: $500 is what you need to maximize your bonus-hounding while you learn to play right away. You’re starting with more money, and ironically, it will allow you to grow the bankroll faster, if you can learn to play well. On the other hand, $150 is a nice, conservative $0.25/$0.50 bankroll. You could probably go as low as $100.

The Damage

I spent around $200 + $500 bankroll to get started in online poker. Today, beginners should be able to get started for $90 in books and software plus a $150 bankroll. A really frugal player will note that they don’t need to buy the second book for a couple months, and that Poker Tracker has a free 1000 hand trial period, at the end of which they can hope to be a winning player. That means you could potentially drop down to $20 for a single book, and a $100 bankroll. Very nice.

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