As Poker becomes tougher, the need to have solid foundations in your game is becoming an integral part to being successful! A Bankroll Management Strategy has become an ever increasing element of this. There is however no secret formula for Bankroll Management, but this article will go some way to giving you a good grasp and rule of thumb to keep your bankroll from ever going broke.
Your bankroll depends highly on your circumstances, ability and level of play. For example, if you are a recreational player who also has a full-time job, does not rely on poker as an income and sees it more as hobby, then you could probably afford to be a little looser with your bankroll. The option to replenish your ‘roll will always be there. However, if you keep withdrawing when you exceed the bankroll requirements for the level that you are playing, then you have a much higher chance of going broke (in fact, it’s almost certain at some point).
For those who decide to be a bit more careful with their money (this category normally falls in-between people playing as a ‘Pro’ and recreational players looking to make long term money from the game) then obviously you will need to be a bit more constraint about your bankroll requirements for each given level, especially if it will be tough to replenish.
Professional’s requirements are going to have to be extremely conservative and are designed for the kind of people who wouldn’t be able to top their roll up and be in financial ruin after some horror sessions at the table. ‘Pro’s’ would also have to skim off the top of their bankroll for living costs and expenditures making it harder for their bankroll to grow.
Obviously each different poker discipline will need a separate Bankroll Management requirement. Below we look at suitable buy in/entry amounts for NLHE (No Limit Holde’em) cash, FLHE (Fixed limit hold’em) Cash, SNGs (Sit and Go’s) and MTTs (Multi Table Tournaments).
The main reason we need these bankroll requirements is to handle to swings of Poker (variance). Variance is a term massively over used in poker communities and people often use it as an excuse for bad play. However, that does not mean it doesn’t exist. Some people will feel the effects much greater then others and sometimes that is tough to grasp for a lot of poker players. Coping with these factors will often make or break your poker ‘career’ and many people fail as a result.
As part of practicing good bankroll management, a big part is knowing when you have to move down in limits simply because a ‘bad run’ does not allow you to comfortably play at your normal level. Whilst most people will see moving down as failure in poker, try to look at it from a point of view of it being temporary, but necessary for you to rebuild thus, becoming a better player.
Treat your bankroll with respect as it may not be around for long if you don’t!