Understanding Poker Bankroll Management
When you’re just starting off in poker, the question of proper bankroll management comes up as one of the first questions. What’s the right amount to deposit? And what about those bonus dollars the poker room has promised me? The first question of how much should I deposit needs to be determined based on how much cash you can put towards the game without hurting yourself financially. Think about it like this, if you have 150 left over for the month after paying all your bills and that money is set aside specifically for entertainment purposes, think about what other entertaining things you’d like to do, determine the total, and deposit the rest. If you plan on going to see 4 movies with your significant other, you can afford to deposit roughly 70 after the movie tickets.
Now that we have that out of the way, let’s take a look at the bonus dollars. Please read the fine print before you start reaching for your wallet. You have to play a ton to get anything back from them on your 100%-150% bonus. By a ton I mean you’ll realistically never get it all, and you’ll be lucky if you get a fraction of it. Personally I’d look into rakeback or immediate cash over the two month to earn bonus. Playing to try and earn points leaves you making decisions you typically wouldn’t just to try and win your bonus, which are chips you should be using to build up your bankroll in the first place.
What about the bankroll for buy-ins? If you plan on playing cash games you should be using no more than about 5% of your total stack due to the swings related to no limit. Aces get cracked, straights are outdrawn by flushes or full houses, its all part of the game. If you plan on reloading every month you can ignore the 5% concept, but if you plan on depositing and playing for awhile I suggest the 5% rule. You may wind up frustrated reloading ever month because you’re playing limits outside of your bankroll.
As for tournaments and sit n go’s? Well, what level are you looking to buy in at and what is your win loss percentage? What’s the payout of the game you’re playing in? Take a look at those two factors before setting any sort of cap to your tournaments. If you’re great at 3.60 sit n go’s and place 1-3 almost consistently you should be good to go. If you’re losing, drop down a level or two then work up your confidence and skill level. There’s no point in continuing to buy in at a level you never win at. The level directly below may give you the edge to place consistently.
Once you find a level you’re comfortable at, you should be ready to go. Win some pots, and work up your confidence. After awhile you’ll be ready to move up, and up and up. That’s how much of the new breed of bracelet winners started, they played at the lower buy in tables with a small bankroll and built their way up to the top. You’ll learn different skill sets of the game at any level, and as you pick up on new tips and tricks you game will progress to the next level. Plus by starting at the bottom, you’re not only protecting your bankroll, you’re gaining a poker education with little investment.
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