Poker Variance Calculator: Prepare for the Swings

Poker variance is why winning players lose sessions and losing players win them. Our free variance calculator simulates thousands of outcomes based on your win rate and standard deviation, showing exactly what swings to expect—so you're mentally and financially prepared.

What Is Poker Variance?

Variance measures how much your results deviate from your expected value. Even with a positive win rate, short-term results can vary wildly from expectation.

Quick Answer: A winning player with 5 bb/100 win rate and 80 bb/100 standard deviation will experience 30+ buy-in downswings in their career—this is mathematically expected, not bad luck. Our calculator shows the realistic range of outcomes for your specific situation.

How to Use Our Free Poker Variance Calculator

Use the Poker Variance Calculator →

Enter your win rate and hands to see the full range of expected results.

Step-by-Step Instructions

1. Enter Win Rate: Your bb/100 (big blinds per 100 hands)

2. Enter Standard Deviation: Typical is 70-100 bb/100 for NLHE

3. Input Number of Hands: Sample size to simulate

4. View Results: See confidence intervals and downswing probabilities

Input Fields Explained

Field	Description	Example
Win Rate	bb/100 earned	5 bb/100
Standard Deviation	Typical variance	80 bb/100
Hands	Sample to simulate	100,000
Buy-Ins	Stack size in bb	100 bb

Understanding Standard Deviation

Typical Standard Deviation by Game Type

Game Type	Standard Deviation (bb/100)
NL Hold'em (Full Ring)	70-85
NL Hold'em (6-max)	85-100
NL Hold'em (Heads-Up)	100-120
PLO (6-max)	120-160
Tournaments	150-200+

Higher standard deviation = bigger swings from expected results.

What Standard Deviation Means

If your SD is 80 bb/100:

• 68% of 100-hand sessions fall within ±80 bb of your EV
• 95% fall within ±160 bb
• 99.7% fall within ±240 bb

Variance Simulation Results

Confidence Intervals

For a 5 bb/100 winner over 100,000 hands:

Confidence Level	Result Range (bb)
70%	+2,500 to +7,500
95%	+500 to +9,500
99%	-1,000 to +11,000

Even at 99% confidence, a winning player can be down 10 buy-ins after 100,000 hands.

Expected Downswings

Hands Played	Likely Max Downswing (5 bb/100 winner)
25,000	15-20 buy-ins
50,000	20-25 buy-ins
100,000	25-35 buy-ins
500,000	35-50 buy-ins

These aren't worst-case scenarios—they're probable occurrences.

Real-World Variance Examples

Example 1: New Player Reality Check

Situation: You've played 10,000 hands and are down 5 buy-ins. Did you run bad or play bad?

Calculator Input:

• Assumed win rate: 2 bb/100 (new player at micro stakes)
• Standard deviation: 80 bb/100
• Hands: 10,000

Results:

• Expected value: +200 bb (+2 buy-ins)
• 95% confidence range: -340 bb to +740 bb
• Being down 5 buy-ins is within normal variance

Conclusion: At 10,000 hands, you can't determine if you're a winner or loser. Variance dominates.

Example 2: Breakeven Frustration

Situation: You're a 3 bb/100 winner over 50,000 hands but currently breakeven.

Calculator Analysis:

• Expected profit: 1,500 bb (15 buy-ins)
• 95% range: -300 bb to +3,300 bb
• Breakeven is well within normal variance

Reality: Even skilled players run at or below expectation for tens of thousands of hands. Patience is required.

Example 3: "Running Hot" Assessment

Situation: 8 bb/100 over 20,000 hands. Are you crushing it or running good?

Calculator Input:

• Observed win rate: 8 bb/100
• Standard deviation: 80 bb/100
• Hands: 20,000

Analysis:

• True win rate confidence interval is very wide
• Could be a 2 bb/100 player running hot
• Could be a 14 bb/100 crusher playing normally
• Need 50,000+ hands to narrow confidence interval

The Math Behind Variance

Standard Error Formula

Standard Error = SD / √(Hands / 100)

Example:

• SD: 80 bb/100
• Hands: 10,000
• SE = 80 / √100 = 8 bb/100

Your observed win rate is within ±8 bb/100 of true win rate (68% confidence).

95% Confidence Interval

CI = Win Rate ± (1.96 × Standard Error)

Example: 5 bb/100 ± (1.96 × 8) = 5 ± 15.7 bb/100

At 10,000 hands, a "5 bb/100 winner" could actually be anywhere from -10.7 to +20.7 bb/100.

Hands Needed for Certainty

Confidence in True Win Rate	Hands Needed
±2 bb/100	60,000+
±1 bb/100	250,000+
±0.5 bb/100	1,000,000+

Knowing your true win rate requires enormous sample sizes.

Downswing Probability

Probability of Hitting X Buy-In Downswing

For a 5 bb/100 winner with 80 bb/100 SD:

Downswing Size	Probability Over Career
10 buy-ins	>95%
20 buy-ins	~80%
30 buy-ins	~50%
40 buy-ins	~25%
50 buy-ins	~10%

Key insight: 30 buy-in downswings happen to winning players. It's math, not luck.

Duration of Downswings

Downswings can last:

• Days at high volume
• Weeks at moderate volume
• Months at low volume

Mental preparation is as important as bankroll preparation.

Common Variance Misconceptions

Myth 1: "I'm Due for a Heater"

Each hand is independent. Past results don't affect future probability. If you've run bad, you're not "due"—variance doesn't have memory.

Myth 2: "I Run Worse Than Average"

Confirmation bias. Bad beats are memorable; winning coolers are forgotten. Track your results objectively to see reality.

Myth 3: "My Win Rate Is X Because I've Won X"

Observed results ≠ true win rate. You've experienced one sample from a probability distribution. The true rate requires massive samples to estimate.

Myth 4: "Downswings Shouldn't Happen to Good Players"

Downswings are mathematically certain for every player. Quality of play affects size and frequency, not existence.

Myth 5: "I Need to Change Something During Downswings"

Maybe, but probably not. Most downswings are variance, not leaks. Changing strategy during a downswing often makes things worse.

Frequently Asked Questions

How many hands until I know my win rate?

A rough estimate needs 50,000+ hands. Confidence within 1 bb/100 requires 250,000+ hands. Most players never reach true statistical significance.

What's a normal standard deviation?

For NL Hold'em cash: 75-100 bb/100. Higher for shorter stacks, PLO, or tournaments. Lower for tight players or full ring games.

Can I reduce variance?

Yes, through tighter play, avoiding marginal spots, and choosing lower-variance game types. But lower variance often means lower win rate too.

How do I handle variance mentally?

Focus on decisions, not results. Understand that downswings are expected. Have sufficient bankroll. Take breaks when tilting.

Is online variance different than live?

No, but you see more hands online, so you experience variance faster. Live feels smoother because you play fewer hands.

Should I move down during downswings?

If your bankroll requires it, yes. Moving down isn't failure—it's proper bankroll management protecting your ability to play.

Using Variance Data for Decisions

Bankroll Requirements

Variance calculator informs bankroll needs:

• 95% confidence of not busting = bankroll must exceed 95th percentile downswing
• For 5 bb/100 winner, 30 buy-ins gives ~5% risk of ruin
• More conservative players want 50+ buy-ins

When to Move Up Stakes

Don't move up after a heater—you might be experiencing positive variance. Move up when:

• Bankroll supports the new level
• Large sample confirms sustainable win rate
• You've beaten current stakes over extended period

Evaluating Your Play

Compare observed results to expected range:

• Results in middle of range: Likely playing near your true level
• Results at edge of range: Variance may be masking true ability
• Results outside range: Something unusual (good or bad) is happening

Pro Tips for Managing Variance

• Track Everything: Use tracking software to build meaningful sample sizes

• Focus on BB/100, Not Dollars: Normalizing results removes stake-based emotions

• Review During Breakeven Stretches: Downswings are bad for analysis (results-oriented thinking). Breakeven is ideal.

• Have Non-Poker Income: Reduces pressure that variance creates

• Set Stop-Loss Limits: Prevent tilt from turning normal downswings into disaster

Related Poker Calculators

• Poker Bankroll Calculator - Bankroll requirements
• Risk of Ruin Calculator - Bust probability
• Poker Equity Calculator - Hand odds
• Poker Hourly Rate Calculator - Expected earnings
• Poker Win Rate Calculator - Results analysis

Conclusion

Variance is poker's great equalizer—it humbles winners and gives losers false hope. Our free calculator shows the mathematical reality of poker results, helping you understand that downswings are normal, heaters don't prove skill, and enormous sample sizes are needed to know your true ability.

Calculate Your Poker Variance Now →

Understanding variance transforms how you experience poker. Instead of riding an emotional rollercoaster, you'll see results as data points on a probability curve. That perspective is worth more than any strategy tip.