Bankroll Basics - Phase 1 To Getting A Poker Good.If you are a poker player you will be aware chances are your bankroll is your poker bible. If you haven't any bankroll you simply can't play poker! This article will provide you with some valuable information about how to manage your bankroll and how to never go bankrupt!
Importance Of A Bankroll:
Even if you are the most effective poker player in the world, you must have good bankroll management! Going bust isn't the poker gods punishing you, its variance and variance is FACT. If you need to start earning a decent amount playing poker, then follow the advice within this thread. This is the first step to being a WSOP bracelet winner.
The Chris Ferguson Method:
I read articles some time back compiled by Chris about his transformation of $1 into $20,000. He used the next method to be sure he could handle his variance swings. He played cash games making it sure that he always had 20 buyins. These were not full buyins they were half buyins. If you planned to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you'll buyin for $1. This would signify you'd have to have $20 to be properly bankrolled for $0.01/$0.02. Likewise, if you have 100 after this you you are bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins then you need to lower right down to an amount where you are properly bankrolled.
This method has been surefire. It's a good method if you adhere to it. You must be ready to hit bad variance and move down an even or two if you need to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you must will have at least 30 entry fees on the tournament you want to enter.
Things change slightly with rebuy tournaments. Because of bola the nature of rebuy tournaments you will end up shoving or folding hands preflop during the rebuy period (please read my article on rebuy strategy). This means you might want a minimum of 6 x 30 buyins because obviously you will end up double rebuying and adding on! Remember should you fall 5 or 10 you'll want to lessen the amount you would spend on entry fees. Again, the saying used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative to the Chris Ferguson Method you will find the Classic NL (no limit) Method. The basic concept of using this method is always to keep at least 2000 big blinds to the level you wish to play. That's right! to get properly rolled for $0.01/$0.02 you may need at the very least 40 dollars. If you're winning at the level you might be playing at and you get the players easier to beat, you'll be able to drop your bankroll threshold to 1500-2000 big blinds. As you will move up to $0.25/$0.50 and $0.50/$1.00 I would a lot recommend you stick to 2000 big blinds as variance has very damaging affect money wise. Please note that you will need over 2000 big blinds for 6 max tables and heads up.
Classic Limit Bankroll Method:
Limit poker can be a WHOLE different ball game. You can have as little as 400 big blinds within your account because you will be risking less for each and every buy in and also the variance is smaller. In limit holdem in most cases impossible to reduce your stack similarly from a cold deck, unlike NLHE.
NB. I do not play limit holdem and so I haven't any exposure to this bankroll. The general consensus with players I have spoken to is that this may be the right bankroll you must aim for.