If you're a poker player you should understand chances are your bankroll can be your poker bible. If you haven't any bankroll you cannot play poker! This article will provide you with some valuable information about how to control your bankroll and how to never go under!
Importance Of A Bankroll:
Even if you're the most effective poker player in the world, you might want good bankroll management! Going bust isn't the poker gods punishing you, its variance and variance is FACT. If you would like to start earning a decent amount playing poker, then stick to the advice with this thread. This is the 1st step to transforming into a WSOP bracelet winner.
The Chris Ferguson Method:
I read articles quite some time back compiled by Chris about his transformation of $1 into $20,000. He used the subsequent strategy to make sure he could handle his variance swings. He played cash games making sure he always had 20 buyins. These were not full buyins these were half buyins. If you wished to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you'd buyin for $1. This would signify you'd probably have to have $20 to become properly bankrolled for $0.01/$0.02. Likewise, should you have had 100 then you definately you're bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you will need to decrease as a result of a quantity where you are properly bankrolled.
This method continues to be thoroughly tested. It's a good method providing you stick to it. You must expect you'll hit bad variance and move down an even or two in order to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you must always have a minimum of 30 entry fees for 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 during the rebuy period (please read my article on rebuy strategy). This means you need to have at least 6 x 30 buyins because obviously you will be double rebuying and adding on! Remember should you fall five or ten you'll want to reduce the amount you spend on entry fees. Again, the words 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 thought of using this method is usually to keep no less than 2000 big blinds for your level you need to play. That's right! to become properly rolled for $0.01/$0.02 you'll need a minimum of 40 dollars. If you're winning in the level you are playing at and you obtain the players better to beat, then you can definitely drop your bankroll threshold to 1500-2000 big blinds. As you will progress to $0.25/$0.50 and $0.50/$1.00 I would greatly recommend you stay with 2000 big blinds as variance has very damaging affect money wise. Please note that you will want greater than 2000 big blinds for 6 max tables and oversees.
Classic Limit Bankroll Method:
Limit poker is really a WHOLE different ball game. You can have as low as 400 big blinds with your account because you may be risking less for each buy in as well more info as the variance is smaller. In limit holdem it is almost always impossible to shed your stack similarly from your cold deck, unlike NLHE.
NB. I do not play limit holdem and so I don't have any knowledge about this bankroll. The general consensus with players I have spoken to is that this will be the right bankroll you need to target.