If you're a poker player you will know by now that your particular bankroll is the poker bible. If you haven't any bankroll you simply can't play poker! This article will give you some valuable information about how to deal with your bankroll and how to never go broke!
Importance Of A Bankroll:
Even should you be the very best poker player on the globe, you might want good bankroll management! Going bust isn't poker gods punishing you, its variance and variance is FACT. If you would like to start earning a decent amount playing poker, then keep to the advice with this thread. This is step one to transforming into a WSOP bracelet winner.
The Chris Ferguson Method:
I read an article a little while back published by Chris about his transformation of $1 into $20,000. He used the next method to make sure he could handle his variance swings. He played cash games generating certain that he always had 20 buyins. These were not full buyins we were holding half buyins. If you planned to play $0.01/$0.02 cash games, the max buyin is $2 and thus you'll buyin for $1. This would signify you'll have to have $20 to become properly bankrolled for $0.01/$0.02. Likewise, should you have had 100 after this you you might be bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you will need to drop right down to an amount where you're properly bankrolled.
This method continues to be tried and tested. It's a good method providing you adhere to it. You must be ready to hit bad variance and move down a level or two if you wish to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you have to always have at the very least 30 entry fees towards the tournament you need to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you'll be shoving or folding hands preflop through the rebuy period (please read my article on rebuy strategy). This means you might want no less than 6 x 30 buyins because obviously you will end up double rebuying and adding on! Remember should you fall five to ten you check here should slow up the amount you may spend on entry fees. Again, the saying used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative on the Chris Ferguson Method there is a Classic NL (no limit) Method. The basic notion of this process is to keep a minimum of 2000 big blinds for your level you wish to play. That's right! being properly rolled for $0.01/$0.02 you will need at least 40 dollars. If you're winning on the level you are playing at and you also find the players much easier to beat, then you can definitely drop your bankroll threshold to 1500-2000 big blinds. As you learn to move up to $0.25/$0.50 and $0.50/$1.00 I would a lot recommend you follow 2000 big blinds as variance has very damaging affect money wise. Please note that you'll want a lot more than 2000 big blinds for 6 max tables and oversees.
Classic Limit Bankroll Method:
Limit poker is a WHOLE different ball game. You can have as low as 400 big blinds in your account because you will end up risking less per buy in as well as the variance is smaller. In limit holdem it is almost always impossible to reduce your stack on one hand from your cold deck, unlike NLHE.
NB. I do not play limit holdem and so I have zero knowledge about this bankroll. The general consensus with players I have spoken to is this fact will be the right bankroll you should shoot for.