Bankroll Mangement

First and foremost I would like to stress the impact that proper bankroll management can have on your success as a poker player, and your poker playing experience in general. There is a very good reason why so many poker professionals regard bankroll management as a critical element to the poker players repertoire. The following is therefore essential is changing the way you approach and respect your bankroll. Many beginners make the mistake of depositing 50 dollars, start playing in a .25/.50 room and lose it straight away. They then redeposit, win a little bit and then lose it again. They continue this process until they give up and come to the conclusion that they are not good enough to continually profit form poker. With the right attitude towards bankroll management you will see drastic changes to your overall success.

There are many varying views as to how much you should have in your bankroll compared with the limits you play. These theories suggest that your bankroll should be between 10-50 times the maximum buy-in of the table in the no-limit game. For example if you play at the $.50/$1.00 table, where the maximum buy in is $100, you should have between 1000-5000 dollars as your bankroll. Depending on how experienced you are will determine which end of the spectrum you will be at. I feel that 50 buy-ins is way too much for a break-even player. 20 times the buy-in is a good amount. If you have $5000 you will get bored and lose interest at those blinds, I believe it is the opposite of playing above your limits. It is important to keep a happy medium so your experience is both enjoyable and profitable.

A similar rule of thumb goes for playing Sit and Go’s (SNG’s) and tournaments. A general figure of 20-50 buy-ins is accepted by the poker world as a nice figure to work by when choosing the right tournament or SNG to play in. This figure can be manipulated depending on your level of skill. I personally aim for 30 buy-ins, approximately 3.3% of my bankroll. It is important to note that even great tournament players can go long periods of time without having a major win. 2% may seem very conservative but playing tournaments is a lot different to cash games and usually results in fewer, but larger wins.

I would also like to stress the very important issue of playing with money you cannot afford to lose. Managing your bankroll is one thing, but if you need that money to pay the bills or buy food, then this will limit your ability to make correct decisions. Constantly thinking that you have to win so you can pay for bills etc will not work as many people have found out. It is up to you to learn from other people’s mistakes so you can become profitable without having to risk things more important to you than the game itself.

In summary, I would like to reiterate that many poker players make wrong decisions about their bankroll, it has been through much experience and learning that we’ve been able to find a figure that works best. Discipline yourself in sticking to this and you will be better off in the long run, try not to indulge in too higher limits if you’ve had a win, the key is sticking to your guide lines. Adhering to these rules allows you to play in better conditions, resulting in better decisions being made because you are not under any undue pressure. Learn from other peoples mistakes and don’t get caught in the mindset that you are better than everyone else so you can win at any limit no matter what. Swings are an inevitable part of the game. The better tools you have at your disposal to deal with these conditions will be reflected in your bankroll. Take the advice in the strategy section of this website, customize the lessons to your own game and play by them. Simply doing anything because someone told you will not work. Work out what you are comfortable with and make the best decision. This way you will feel you are making the decisions and you will take full responsibility for the poker bankroll that you have built. Ultimately it is you at the tables and you have to make correct decisions. Be sure to read the rest of the strategy section to learn more tips on how to improve your decision making ability.