For my first article id like to write about bankroll management and u may wonder why I chose to write about this first and not starting hands or position and the answer is because I think it may be the single most important tool u have in poker. If u can master bankroll management your half way to never going broke!
Cash Games: If you are playing Pot Limit or No Limit poker, the safe recommended size of your bankroll is 20 times the full buy-in of where you want to play. This means that if you want to have the best chance of making money at a $1/$2 game where the maximum buy-in is $200, you should have a bankroll of at least $4000. Another way of applying bankroll management is by only putting a maximum 5% of your entire bankroll on the table at any one time, which works out the same as having 20 times the buy-in for the game. If you like to play limit Holdem however, you should have 300 Big Bets as a minimum for the limit you wish to play at. Therefore to play $1/$2 limit Holdem, you should have a bankroll of $600 at least.
Tournament Games: It is recommended that you have a bankroll that will give you 40 buy-ins to the level of tournaments that you wish to play at. Therefore if you want to play at the $10+$1 Sit n Go’s you should have a bankroll of $440.
What is Bankroll management??
Well the first thing to do is to establish a definition of what your bankroll is: Its basically money u can afford to lose. Don’t put any money into your poker bankroll that you can’t comfortably part with if worst comes to worst. Paying rent, putting food in your stomach, taking care of your health, and paying your bills should always come before poker. If they don’t, you’ve got much larger problems than an article like this could ever address and you probably won’t be playing poker for very long.
So what limits should I be playing at?
Cash Games: If you are playing Pot Limit or No Limit poker, the safe recommended size of your bankroll is 20 times the full buy-in of where you want to play. This means that if you want to have the best chance of making money at a $1/$2 game where the maximum buy-in is $200, you should have a bankroll of at least $4000. Another way of applying bankroll management is by only putting a maximum 5% of your entire bankroll on the table at any one time, which works out the same as having 20 times the buy-in for the game. If you like to play limit Holdem however, you should have 300 Big Bets as a minimum for the limit you wish to play at. Therefore to play $1/$2 limit Holdem, you should have a bankroll of $600 at least.
Tournament Games: It is recommended that you have a bankroll that will give you 40 buy-ins to the level of tournaments that you wish to play at. Therefore if you want to play at the $10+$1 Sit n Go’s you should have a bankroll of $440.
The guidelines noted above are very general rules that should give you the best opportunity to make money from playing poker without going broke. However there are going to be some exceptions and alterations depending on how and where you play.
Note: If you intend on taking poker up as your main source of income, the bankroll you would require will be substantially larger than 20 full buy-ins for cash, or 40 buy-ins for tournaments.
There are other things I could talk about like moving up levels and taking shots but I will save that for another blog one day.
I hope this helped, in the past I have had problems with bankroll management. Its really important to stick to the rules if u wanna be successful.
See you on the felt.
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