Posted on Nov 26, 2009 | 0 comments

Bankroll Management

Bankroll Management

It is possible to ‘take shots’ at a higher level of play before you have an adequate bankroll.
Many of the players at the highest echelons of poker have taken shots that have worked out for them in their careers. Some love to live on the edge and will play for all the money in their pockets in the highest game they can. That’s fine for some, but most of us have no desire to go broke.
But it is understandable that you should want to test your mettle in a game you’re not properly financed for. To do this, simply set aside a portion of your bankroll, adhere to the following rules and you’ll keep yourself safe.
For instance, let’s say you’re comfortably beating $1/$2 games and have $6,000 (30x $200 buy-ins). You could take a shot at the $2/$4 level with $2,000 of this roll. If you run well you could soon have enough to play regularly at this level.
Should things go, ahem, not so well, you will still be adequately bankrolled for a game you know you can beat.
Unfortunately, the reality is that most players don’t inexorably build their bankroll until they reach the biggest games, even if they do adhere to a strict bankroll management system. Many players reach a pain threshold where the money involved becomes too real and they’re out of their comfort zone.
Suddenly, losing $5,000 in a game doesn’t feel like losing five buy-ins – it feels like losing a few months’ worth of mortgage payments.
In the end though, the biggest factor dictating a winning player’s level is quite simply their ability at the game. Once you’ve taken enough shots at the level above to know you can’t reliably beat it and earn a regular win rate, the desire to move up will probably start to fade.
However, if you do have ambitions to play at the top levels of the game, have the talent and work hard enough, then managing your bankroll is as essential to you as the North Star was to sailors of old.
Cashing out
Withdrawing funds from your bankroll has the upside of giving you real money to spend on things, but has the drawback of reversing the growth of your bankroll. If you’re playing poker for a living you’ll have to take money out of your roll to pay bills, buy food and, well, simply exist. As a consequence, to move up limits you would have to make enough money to live on and build your bankroll at the same time. This can be a tough task.
If you’re a recreational player you may decide you want to take some winnings and use the money for something fun. There is nothing wrong with that – you have to enjoy yourself after all – but remember that if you want to jump straight back into the same stakes again there’s a chance you will lose the money that you’ve just splurged on other things.
In the final analysis, the vast majority of people don’t have the discipline or desire to rigorously put in place good bankroll management measures. Most poker players don’t like to grind and keep accounts – they like to take shots and splash winnings around. You must decide what approach is right for your goals in poker and remember that if you don’t play within your bankroll, you’re gambling. You may be gambling with an edge but you must be prepared to go broke.

It is possible to ‘take shots’ at a higher level of play before you have an adequate bankroll.

Many of the players at the highest echelons of poker have taken shots that have worked out for them in their careers. Some love to live on the edge and will play for all the money in their pockets in the highest game they can. That’s fine for some, but most of us have no desire to go broke.

But it is understandable that you should want to test your mettle in a game you’re not properly financed for. To do this, simply set aside a portion of your bankroll, adhere to the following rules and you’ll keep yourself safe.

For instance, let’s say you’re comfortably beating $1/$2 games and have $6,000 (30x $200 buy-ins). You could take a shot at the $2/$4 level with $2,000 of this roll. If you run well you could soon have enough to play regularly at this level.

Should things go, ahem, not so well, you will still be adequately bankrolled for a game you know you can beat.

Unfortunately, the reality is that most players don’t inexorably build their bankroll until they reach the biggest games, even if they do adhere to a strict bankroll management system. Many players reach a pain threshold where the money involved becomes too real and they’re out of their comfort zone.

Suddenly, losing $5,000 in a game doesn’t feel like losing five buy-ins – it feels like losing a few months’ worth of mortgage payments.

In the end though, the biggest factor dictating a winning player’s level is quite simply their ability at the game. Once you’ve taken enough shots at the level above to know you can’t reliably beat it and earn a regular win rate, the desire to move up will probably start to fade.

However, if you do have ambitions to play at the top levels of the game, have the talent and work hard enough, then managing your bankroll is as essential to you as the North Star was to sailors of old.

Cashing out

Withdrawing funds from your bankroll has the upside of giving you real money to spend on things, but has the drawback of reversing the growth of your bankroll. If you’re playing poker for a living you’ll have to take money out of your roll to pay bills, buy food and, well, simply exist. As a consequence, to move up limits you would have to make enough money to live on and build your bankroll at the same time. This can be a tough task.

If you’re a recreational player you may decide you want to take some winnings and use the money for something fun. There is nothing wrong with that – you have to enjoy yourself after all – but remember that if you want to jump straight back into the same stakes again there’s a chance you will lose the money that you’ve just splurged on other things.

In the final analysis, the vast majority of people don’t have the discipline or desire to rigorously put in place good bankroll management measures. Most poker players don’t like to grind and keep accounts – they like to take shots and splash winnings around. You must decide what approach is right for your goals in poker and remember that if you don’t play within your bankroll, you’re gambling. You may be gambling with an edge but you must be prepared to go broke.

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