If you're a poker player you'll know right now that the bankroll is the poker bible. If you have no bankroll you simply can't play poker! This article will offer you some valuable information about how to deal with your bankroll and the ways to never go broke!
Importance Of A Bankroll:
Even if you are the very best poker player on earth, you need to have good bankroll management! Going bust isn't poker gods punishing you, its variance and variance is FACT. If you would like to start earning a decent amount playing poker, then keep to the advice within this thread. This is the 1st step to being a WSOP bracelet winner.
The Chris Ferguson Method:
I read articles a while back authored by Chris about his transformation of $1 into $20,000. He used the next approach to make sure he could handle his variance swings. He played cash games making it certain that he always had 20 buyins. These were not full buyins these were half buyins. If you desired to play $0.01/$0.02 cash games, the max buyin is $2 and for that reason you'd buyin for $1. This would imply you'll have to have $20 to get properly bankrolled for $0.01/$0.02. Likewise, if you had 100 you then you're bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins then you need to drop right down to an amount where you happen to be properly bankrolled.
This method has been tried and tested. It's a good method so long as you stay with it. You must be prepared to hit bad variance and move down an amount or two if you want to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you should will have a minimum of 30 entry fees towards the tournament you wish to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you will end up shoving or folding hands preflop through the rebuy period (please read my article on rebuy strategy). This means you'll want at least 6 x 30 buyins because obviously you'll be double rebuying and adding on! Remember in case you fall 5 or 10 you have to slow up the amount spent on entry fees. Again, the idea of used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative to the Chris Ferguson Method you have the Classic NL (no limit) Method. The basic thought of this process is always to keep a minimum of 2000 big blinds to the level you wish to play. That's right! to get properly rolled for $0.01/$0.02 you'll need no less than 40 dollars. If you're winning read more with the level you are playing at and you obtain the players much easier to beat, then you can certainly drop your bankroll threshold to 1500-2000 big blinds. As you learn to move up to $0.25/$0.50 and $0.50/$1.00 I would quite definitely recommend you follow 2000 big blinds as variance has very damaging affect money wise. Please note that you will want a lot more than 2000 big blinds for 6 max tables and oversees.
Classic Limit Bankroll Method:
Limit poker can be a WHOLE different ball game. You can have as little as 400 big blinds with your account because you'll be risking less for each buy in as well as the variance is smaller. In limit holdem it is usually impossible to shed your stack on one hand from your cold deck, unlike NLHE.
NB. I do not play limit holdem and so I have no knowledge about this bankroll. The general consensus with players I have spoken to is niagra may be the right bankroll you must aim for.