Chris Ferguson's $10,000 Challenge
by Chad Holloway of Predictem.com
How would you like to turn nothing into $10,000? This is exactly what Chris "Jesus" Ferguson accomplished on FullTiltpoker.com. Ferguson began by playing Freeroll tournament until he was able to earn some real money. From here, he practiced extreme bankroll management by adhering to the following rules (according to FullTilt's website):
- "He never bought into a cash game or a Sit & Go for more than 5 percent of his total bankroll; the only exception was at the lowest limits: he was allowed to buy into any game with a buy-in of $2.50 or less
- He didn't buy into any multi-table tournaments for more than 2 percent of his total bankroll; the only exception was $1 MTTs.
- If at any time during a No-Limit or Pot-Limit cash-game session the money on the table represented more than 10 percent of his total bankroll, he had to leave the game when the blinds reached him"
Ferguson added: "There are a couple of more tips I'd like to share regarding bankroll management:
First, you should never play in a game that is beyond your bankroll simply because the game seems to be soft that day. It's never soft enough to risk money that puts your bankroll in jeopardy. The other point is that you should avoid playing in games that are at the top of your bankroll limits, when a lower game offers more opportunity for profit."
It took Ferguson about seven months of play until his bankroll reached nearly $6.50. Determined, Ferguson used discipline and dedication and continued to work hard to achieve his $10,000 goal.
On November 26th, 2006, Ferguson made a major boost to his bankroll when he took second place (of a 683-player field) in a $1 tournament buy-in, for which he won $104 in prize money.
Another nine months of hard work and steady play was all it took for Ferguson to reach $10,000 in September of 2007.
Ferguson captured the spirit of the challenge when he said, "For me, this experiment isn't about the money. It's about showing how, with proper bankroll management, you can start from nothing and move up to the point where you're playing in some pretty big games. I know it's possible because I did it once before, turning $1 into $10,000." By strictly adhering to the above bankroll management regime Ferguson was able to turn absolutely nothing into $10,000, a feat you can try to accomplish if you sign-up for free at Bovada Poker.
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