If you are a poker player you should understand right now that your particular bankroll is the poker bible. If you haven't any bankroll you can't play poker! This article will provide you with some valuable information about how to manage your bankroll and the way to never go bankrupt!
Importance Of A Bankroll:
Even if you're the best poker player on earth, you'll 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 follow the advice within this thread. This is the first task to transforming into a WSOP bracelet winner.
The Chris Ferguson Method:
I read a piece of writing quite some time back compiled by Chris about his transformation of $1 into $20,000. He used these approach to make certain he could handle his variance swings. He played cash games making sure 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'd buyin for $1. This would imply that you'll have to have $20 to get properly bankrolled for $0.01/$0.02. Likewise, should you have had 100 after this you you happen to be bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you'll need to decrease into a quantity where you might be properly bankrolled.
This method has become proven. It's a good method as long as you adhere to it. You must be ready to hit bad variance and move down a quantity or two if you want to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you must always have at least 30 entry fees towards the tournament you wish to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you may be shoving or folding hands preflop through the rebuy period (please read my article on rebuy strategy). This means you must have a minimum of 6 x 30 buyins because obviously you'll be double rebuying and adding on! Remember if you fall five to ten you have to decrease the amount you spend on entry fees. Again, the saying used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative towards the Chris Ferguson Method you will find the Classic NL (no limit) Method. The basic concept of this process would be to keep at least 2000 big blinds for your level you need to play. That's right! to become properly rolled for $0.01/$0.02 you will need a minimum of 40 dollars. If you're winning on the level you're playing at so you find the players easier to beat, you'll be able to drop your bankroll threshold to 1500-2000 big blinds. As you begin to progress to $0.25/$0.50 and $0.50/$1.00 I would a lot recommend you stick to 2000 big blinds as variance has very damaging affect money check here wise. Please note that you will want more than 2000 big blinds for 6 max tables and heads up.
Classic Limit Bankroll Method:
Limit poker can be a WHOLE different ball game. You can have as few as 400 big blinds inside your account because you'll be risking less for each and every buy in and also the variance is smaller. In limit holdem it will always be impossible to shed your stack on one hand from your cold deck, unlike NLHE.
NB. I do not play limit holdem and so I haven't any experience with this bankroll. The general consensus with players I have spoken to is niagra may be the right bankroll you need to shoot for.