If you are a poker player you will be aware by now your bankroll will be your poker bible. If you have no bankroll you cannot play poker! This article will offer you some valuable information about how to control your bankroll and how to never go bankrupt!
Importance Of A Bankroll:
Even if you are the very best poker player on the planet, you might want good bankroll management! Going bust isn't poker gods punishing you, its variance and variance is FACT. If you need to start earning a decent amount playing poker, then keep to the advice on this thread. This is the 1st step to learning to be a WSOP bracelet winner.
The Chris Ferguson Method:
I read a write-up a little while back published by Chris about his transformation of $1 into $20,000. He used the subsequent strategy to ensure he could handle his variance swings. He played cash games making it certain he always had 20 buyins. These were not full buyins these were half buyins. If you wanted to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you'd probably buyin for $1. This would signify you'd have to have $20 to get properly bankrolled for $0.01/$0.02. Likewise, if you have 100 after this you you're bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you will want to drop into an even where you're properly bankrolled.
This method continues to be proven. It's a good method as long as you follow it. You must be prepared to hit bad variance and move down an amount or two in order to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you have to have always at least 30 entry fees on the tournament you need to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you may be shoving or folding hands preflop during the rebuy period (please read my article on rebuy strategy). This means you must have a here minimum of 6 x 30 buyins because obviously you'll be double rebuying and adding on! Remember in case you fall five or ten you'll want to reduce the amount you may spend on entry fees. Again, the phrase used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative for the Chris Ferguson Method you will find the Classic NL (no limit) Method. The basic thought of this process is usually to keep at least 2000 big blinds to the level you need to play. That's right! to become properly rolled for $0.01/$0.02 you will need no less than 40 dollars. If you're winning with the level you are playing at and you also discover the players better to beat, then you can certainly drop your bankroll threshold to 1500-2000 big blinds. As you will progress up to $0.25/$0.50 and $0.50/$1.00 I would very much recommend you follow 2000 big blinds as variance has very damaging affect money wise. Please note that you'll want greater 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 less than 400 big blinds within your account because you will be risking less for every buy in and also the variance is smaller. In limit holdem it is usually impossible to lose your stack similarly from a cold deck, unlike NLHE.
NB. I do not play limit holdem and so I don't have any exposure to this bankroll. The general consensus with players I have spoken to are these claims will be the right bankroll you ought to shoot for.