Poker Bankroll Management Part 1: Bankroll Size
Monday, August 21, 2006
Foreword
Before we get started here are a few things.
Never risk more than you can afford to lose. If you find yourself selling off your personal possessions, mortgaging the house, or tearing through your child's college money it may be time to seek some counseling.
At some point you should ask yourself if you are just playing for fun or if you are serious about growing your bankroll. Most people who just play for fun with no serious intention of making much money tend not to set aside money in a separate bankroll.
Starting Bankroll Size
The size of your starting bankroll isn't nearly as important as how you manage it. Thanks to the abundance of online poker sites who have micro-limit tables, you do not need thousands of dollars to get started.
Level
The size of your bankroll should always determine the level you are playing at. That sentence is the whole point of this article so read it again to make sure you got it. It is also important to keep in mind that different types of games have different bankroll requirements.
Limit
In limit games such as Limit Holdem, Stud, Limit Omaha, etc the generally excepted rule of thumb is between 300 and 500 big bets. If you have been playing for a while and are fairly comfortable with your game then the 300 range is more realistic. If you are still working out some of the leaks in your game it may be wiser to err on the side of caution and lean more towards 500. The larger end of the scale will help your bankroll survive a severe downswing better. As an example if you decide you will start with a bankroll of $200 then a good level to start at would be .25/.50 limit.
No-Limit
In No limit and Pot Limit type games your bankroll should be a bit larger as these games tend to have a much higher variance. Here it is generally excepted that 20 to 25 buy-ins is a comfortable level to be at. For example if you have a bankroll of $500 then the level you should be playing at is 25NL with .10/.25 blinds. As with limit games the same type of thinking holds true. Depending on how comfortable you are at this level, the size of your safety net may grow or shrink.
Sit-n-go
Sit-n-goes consisting of one, two, or three tables are best to be thought of under a tiered bankroll management system. Remember, as you increase the buy in of the sit-n-go, the caliber of opponents you face also increases. As the caliber of your opponents increases so does the overall variance. Hence you will find it more and more difficult to cash because of this. The tiers I use are as follows;
For Sit-n-goes with a buy in of $5.50 to $22 I make sure I have 25 times the buy in. For Sit-n-goes with a buy in of $33 to $55 I make sure I have 50 times the buy in. Finally for Sit-n-goes with a buy in of $109 and up I make sure I have 100 times the buy in.
Multi-table Tournaments
These are a bit harder to put solid bankroll numbers on. The number of players in these tend to drive the variance way up, however the experience alone gained in these events has a large amount of value even if you do not cash. I think for the most part 70 times the buy in is a decent ballpark to be in. Also remember that these are usually not played quite as often as the other types of poker we are discussing, so it isn't altogether a bad thing to splurge once in a while on these. Another tactic I employ quite often is to win the money before I play in the tournament. If I am not up in the ring game by at least the buy in I do not play.
Here are some other bankroll articles that may be of interest:
Part 1: Bankroll Size - Part 2: Moving Up - Part 3: Coming Soon
posted by JD52 @ 9:25 PM,
2 Comments:
- At 5:30 AM, said...
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Very usefull summary,
thanks - At 5:30 AM, said...
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