Poker Cashout Curse

April 13, 2009 by cal

One self-destructive phenomenon made up in the minds of online poker players is blaming bad runs of cards on a rigging mechanism known as the “cashout curse”. This occurs when a player wins a sizable amount of money, cashes out and then immediately gets clobbered by the poker site they play at. Many players still believe that sites have a switch that they can flip on to crush a given player at their discretion. Instead of looking at alternative explanations for depleting bankrolls after cashing out, players take the easy way out blaming someone else for poor decisions. Several other negative factors combined create a complete explanation for losses after cashouts. The following paragraphs should give you an understanding of the dynamics behind what is viewed as the dreaded “cashout curse.”

Bankroll Management Violation
Easily the number one explanation for post cashout losses, poor bankroll management can crush even the best players. Since poker is a game where profitable players push small edges over thousands of hands variance will inevitably occur. Having too small of a bankroll to deal with the swings, often negative downtrends will result in a vanishing bankroll. Always remember you can never put more than 5% of your total bankroll at any given table. Never put more than 3% of your total bankroll at any sit & go or tournament. Abusing these rules will almost certainly result in your bankroll being decimated. For more information on bankroll management read, “Bankroll Management: Avoid Going Busto”.

Your Play Changes
Another likely culprit of bankroll depletion is a change in the way you play. Does cashing out money result in overconfidence in your poker play? Do you tend to play wider ranges of hands? Many people unknowingly play very poorly after cashing out. They tend become cocky and arrogant, while playing more ranges of cards. They also forget what made them winning players in the first place. If you find yourself losing heavily after cashing out reflect on your own playing style – make sure your fundamentally sound play doesn’t change after withdrawing money from your poker account.

Opponent Strength Increases
Since poker is a zero sum game, when you win someone else loses. If you have cashed out money from a poker site you have won money likely from a weaker opponent. After the majority of weaker players have been “taken” the remainder of the player base is strengthened. Playing against stronger opponents is never a good thing since edges usually diminish. You could possibly become one of the weaker players at the table after the fish are gone. Table selection becomes increasingly important after cashing out.

Bad Run of Cards
The dreaded word of variance plays a huge role in the myth of the cashout curse. Going along the same lines of thought as bankroll management, variance can account for swings in your bankroll. You simply could be experiencing poor results through no fault of your own. Small positive edges always win long term, while short term results can be unprofitable. Cashing out a large portion of your bankroll could leverage your account funds too highly for the game you are playing. This can all create the perfect storm for decimated bankrolls.

A cashout curse exists, but not in the same sense accepted by the online poker community. Cashout curses aren’t created by poker sites – rather by poor decisions in strategy and game methodology. Variance and improper bankroll management are the two main factors creating the perfect storm for cashout curses. If you feel like you have been losing after cashing out consider examining your own game for post cashout leaks. Switch to another poker site or take a break from playing if you still feel like a site induced cashout curse exists.

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