3 Steps To Managing Your Bankroll
December 31st, 2008
Bankroll management: it ain’t sexy. But, it’s how you live and die on the poker table. If your eyes are glazing over, grab a cup of coffee. This is critical to your survival as a poker player. When you ask a rookie about their bankroll, they’ll look at you and say something like, “Well, I have $400 to lose.”
That’s not bankroll management. That’s just how much money they pulled from their bank account before hitting the casino.
Establishing your bankroll and managing it involves 3 steps. We’ll get into the details of bankroll management in the near future. For now, get your head around these steps…
#1 - Amount To Lose
I have to mention this. Everything starts with knowing how much you can afford to lose. In other words, don’t bet the rent money. If you have a health condition, your bankroll shouldn’t include the money you need for your medication.
#2 - The Bankroll Chooses Your Limit
Don’t choose the table limit based on what you’d like to play. Choose it based on your bankroll. Here’s a simple formula: you should have enough to play 300 big bets. For example, if you’re on a 2-4 table, you should have $1,200 in your bankroll (300 x 4). That’ll cover the swings on the table. Of course, this assumes you’re a good player. If you make a lot of rookie mistakes, being able to play 300 big bets won’t make a difference.
#3 - Swallow Your Pride
If you’re getting pummeled at a 5-10 table, regroup at the session end. Take stock of your bankroll. If you can’t make 300 big bets at that table during the next session, swallow your pride and look for a table with lower limits. You need to be able to make the bets to weather the swings. If you’re able to build your bankroll on a lower-limit table, you can come back to the 5-10 table. Swallow your pride and save your hide.
Poker is mostly about skill with portions of luck thrown in. Your job as a good player is to eliminate as much of the luck as possible. When your bankroll isn’t big enough to handle 300 big bets on a fixed limit table, you’re vulnerable to luck and chance. That’s a great way to blow yourself up.
Manage your bankroll. We’ll be talking more about this in the future.
Read More About (Tags): bankroll > manage poker money > management > poker professional
Entry Filed under:Strategies & tips
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11 Comments Add your own
1. 3 Steps To Managing Your &hellip | December 31st, 2008 at 3:42 am
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2. 3 Steps To Managing Your &hellip | December 31st, 2008 at 3:53 am
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3. 3 Steps To Managing Your &hellip | December 31st, 2008 at 4:04 am
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4. McTap03 | December 31st, 2008 at 9:10 am
One other important thing to remember when managing your bankroll, make sure you don’t use it all on 1 table in 1 sitting. In other words, just because your bankroll is at 300BB, don’t go to the table with 300BB, go with 30BB so that you can handle the swings.
5. 3 Steps To Managing Your &hellip | January 1st, 2009 at 2:13 am
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6. tips | March 6th, 2009 at 8:16 pm
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7. Online Casino Portal | March 18th, 2009 at 6:49 pm
Your bankroll is your lifeblood! Without it you can’t play – it doesn’t get any simpler than that. Despite this simple truth, many casino players don’t see bankroll management as a skill of the same importance as being able to calculate pot odds or read your opponents. All the skills you can wield in the game don’t mean anything, though, if you blow all the money as soon as you win it.
Managing your bankroll really boils down to discipline. There are many players who could play higher limits than they do if they were simply to place a few limits on themselves. If moving up is a goal of yours, you should take careful stock of how you treat your bankroll. Managing it wisely is best insurance a poker player can have.
8. The Game | July 6th, 2009 at 9:14 am
The first rule must be consider. If you are a real gambler you should be prepared and you should know the do’s and don’ts
9. dolphin | August 21st, 2009 at 9:14 am
Bankroll management is very important
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11. casino game online | September 17th, 2009 at 4:14 am
For one thing, when aiming to build up a bankroll, a player should avoid regular cash games. There are several reasons why he shouldn’t play at such tables, one of which would be the bankroll issue I wrote about above.
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