A poker bankroll needs to be managed properly to insure that it can survive the short term swings that you will experience. Swings are a natural part of the game, but the players who do not manage their bankroll during these times end up losing all their money.
The key to bankroll management is to always play stakes that are within your means and skill level. When you are just beginning, chances are you will not have the recommended amounts in your account. Your goal will be to build your deposit up into a suitable bankroll size for the game and stakes you wish to play.
Here are the general guidelines that successful poker players use:
Limit Hold ‘em: You should have 300 big bets (a big bet is twice the big blind).
No Limit cash games: You should have 40 buy-ins. A standard buy-in for No Limit is usually 100 times the big blind. Your buy-in amount for this game might differ from the standard once you learn the game and discover your preference. Some players prefer playing a smaller stack while others like to have a larger one.
Tournaments: You should have 40 times the entry fee.
If you hit a losing streak, you must move down in stakes accordingly. For example, if you are playing $1/$2 Limit Hold ‘em you should have $600. If you hit a rough patch and your bank roll shrunk to $300, then you need to move down to .50/$1 until you build it back up again. If you were winning money and you wanted to move up to $2/$4, then you should wait until you have $1200 in your bankroll.
These guidelines may seem excessive because they are geared towards professional players who rely on poker for their income. Chances are you have a day job and want to use online poker to make some extra money. In that case, you can get by with about 80% of these recommendations.
Your bankroll will be the foundation of your poker income. You will keep most of it in your poker account so that you always have money to play with. Once you start showing a steady profit, you will be able to withdraw money from your bankroll on a regular basis. It is just like giving yourself a paycheck.
In order to become a steady winner, you will need to continue learning and studying the game. The next article will tell you which books to read to Master the Game.
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