A guide to taking shots in poker and moving up stakes
“While moving up is a good ambition to have in poker, the main goal should always be to survive.”
Find out what shot-taking in poker is and why players use this approach to move up in stakes. Learn how to use taking shots while still sticking to solid poker bankroll management principles.
What is shot-taking in poker?
Taking a shot in poker is when a player moves up to play in a bigger, more expensive game, at a high stake, with the intention of risking part of their bankroll in an attempt to win enough money to move up a level.
In poker, players progress by how big the stakes they play at are.
It can be difficult to make the jump from a £1-£2 cash game player to a £2-£5 player (these numbers refer to the big blinds in the cash games they play) because of the increased size of bankroll they need for the bigger game.
Why do players take shots?
In order to follow good poker finance management practices, a player playing at £1-£1 should have a bankroll of between £5000 and £10000, which is 50-100 buy-ins.
To move up to £1-£2, the bankroll should be between £10000 and £20000, and for £2-£5 it should have between £25,000 and £50,000.
These are huge jumps and could take players a long time to achieve. By "taking a shot", they move up without the appropriate 50-100 buy-ins, setting aside an amount to play with, with the intention of moving back down if they lose that money.
Another reason for players taking shots is to test themselves at a higher level.
Even the most disciplined player will be curious to see if their game is good enough to play at different stakes, and there can be a bit of a myth around bigger games and those who play in them.
By taking a shot, a player can see for themselves and learn from the experience if it doesn't go to plan.
How big a shot?
If you're playing cash, it's recommended that your shot-taking includes more than just one buy-in so that you can play optimal poker without finding yourself short when you need your stack to maximise your results.
However, it's also important that you have a strict shot-loss. A stop-loss is an amount of money you have decided will be the maximum you are prepared to lose before stepping away from the table and ending your session.
A stop-loss will mean that you limit how exposed your bankroll is to your shot-taking, and will prevent you from trying to chase any losses.
Rake considerations
Another reason for players choosing to take a shot and attempt to move up early is that different rake rules are applied to different games. Often £1-£1 and £1-£2 cash games with have a similar limit on the maximum rake in a hand, which means that players are incentivised to play the higher staked game.
Here's an example:
In a £1-£1 and a £1-£2 game, the rake may be something along the lines of 10% up to a maximum of £5 per hand. That would mean that both games have £5 coming out of most poker hands.
When players are playing £1-£1 they will often be playing with £100 in front of them, whereas £1-£2 players will have £200 in their stack. Because of this, and that the blinds are higher, £1-£2 cash game pots will be bigger and the percentage of the rake will be smaller.
For this reason, it makes more financial sense for players to play at the higher stakes, provided a player has the poker bankroll behind them to cope with the ups and downs of luck and variance.
More guts, more glory?
Another reason for taking a shot is the drama and the potential glory.
It can be exciting to take on better players for bigger pots, and that's something that you can get from taking shots.
By setting aside an amount you are prepared to lose, you can have the benefit of taking a bit of a risk, without the downside of potentially losing your whole bankroll.
However, the most important thing is that any shot-taking is done is a planned and controlled way.
Players should never decide to move up in stakes on a whim or if they have just lost money. It should be done as part of a plan rather than on impulse or to recoup losses.
The risks of taking shots
There's an immediate risk to the money you have set aside from the shot, and that's something that a player must consider when preparing to sit down at the poker table.
It's important that you consider what your bankroll will look like without that money, and understand that it is at serious risk because you will be playing better opponents.
There is also a risk that when I player takes a shot, they lose their appreciation for the stakes they have previously been playing at.
The danger here is that you play for a while at the higher stakes with this "shot money" and eventually lose it and have to move back down to your previous poker level.
The problem is that after playing at higher stakes, you may not value the game you are in and become complacent, which could lead to poor play.
It's important that if you do have to come back down, that you set targets for yourself to remind you why you moved back down and what you need to do to get back up to the level you are aiming for.
This should keep you focused on the game and ready to play well.
Tournament shot-taking versus cash game shots
Shot-taking in multi-table tournaments can work differently from taking shots in cash games.
As tournaments are pre-arranged and specific events, some players will play and higher game of tournament as a special occasion or because the event is especially prestigious.
A good example of this is World Series of Poker’s Main Event.
Strictly speaking, to apply good bankroll management to entering the Main Event, which has a buy-in of $10,000, a player should have 50 to 100 buy-ins to justify playing that game. That would mean players need at least $500,000 (over £400,000 at time of writing) in their bankroll.
This is unrealistic for the vast majority of people and most of the players who sign up to this event are only doing so for the vague hope of having the tournament of their lives and winning millions of dollars.
This type of shot is not only an attempt to score a big payday, but also often a life-long ambition.
Even when players are taking tournament shots without the goal of becoming a millionaire, a tournament win can propel them far further because of how the winnings are distributed.
A note of caution
Taking shots can be a good way to move up the limits in poker without waiting for your bankroll to grow gradually. However, it's only a good idea to do this as part of a wider bankroll management poker strategy.
There are a number of good reasons for players to take shots, but there are risks associated with the practice.
Make sure that you have worked out what your bankroll will look like if your shot-taking does not go well, and make sure you still have enough set aside to play your regular game sustainably.
While moving up is a good ambition to have in poker, the main goal should always be to survive and have enough of a bankroll to stay in the game.