Managing Your Bankroll In Poker

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There is nothing more important to the aspiring professional, or even the seasoned amateur, than proper poker bankroll management. It is generally accepted that for no limit you need at least twenty buy ins and that for fixed limit you want three hundred times the big bet; if you are a winning player, this should bring your chance of going broke down to a few percentage points.

There is no such thing as a too conservative approach to bankroll management. Many players refuse to play in a game where they do not have a hundred buyins; while this is a very conservative approach it underscores the fundamental premise to winning poker: short term risk, long term certainty.  Like games of chance, poker has a great deal of variance; it is entirely possible (and all too common) to make the right decision and get a bad result but unlike games of chance over the long run proper play will certainly win.

Practicing good bankroll management for poker is undeniably important. It allows you the proper perspective on your game, protects you from a rash of bad luck and keeps you playing when you are most profitable. It is especially important if you have dreams of becoming a professional because as a pro bad bankroll management can lead not only to professional failure, but disastrous consequences for your personal life as well.

There are always risks in anything and poker is of course no different but good bankroll management can minimize your risks and maximize your profits. Sticking to the standard rules of three hundred times the big bet (not the big blind remember) in limit and twenty buyins for no limit is just the start; feel free to adjust further (that is to have more money, more buyins and more big bets for your level) if your tolerance for risk is lower. If you like playing in MTT's please read our article on poker tournament bankroll management.

Poker Bankroll Management For Fixed Limit Poker

Managing your bankroll for fixed limit poker variations is quite different than with pot and no limit games. With fixed limit games there is no going all in but the average pot is many times higher than the same stakes in a no limit or pot limit game. Players tend to bet a lot more in fixed limit poker so the first step to proper poker bankroll management is picking your table. As a rough guide when playing fixed limit poker you should have 100 big blinds in your bankroll to be able to play at a table. If you have a $400 table than the highest limit you should play is $2/4.

Poker Bankroll Management For Pot And No Limit Poker

No limit poker bankroll management can be very tricky. Since you could lose all the money you have at the table at any given time it is very important to have at least 300 times the big blind in your bankroll to play at a certain stakes. If you have a bankroll of $600 you should not be playing at stakes higher than $1/2. Some players tend to sit down with their entire bankroll thinking that if they catch a huge hand they won't be able to maximize their win. While this makes some sense it is far more likely that they will eventually face an allin and lose their entire bankroll as apposed to just a % of it. In the fast paced world of online poker it is always best to keep some money off the table incase you face a bad run.