Managing Your Bankroll

While playing poker, one of the most critical things you need to consider is your bankroll. Managing your bankroll is actually as important as being able to calculate pot odds or read your opponents. For a player who wants to move up in limits, it is one of the most important skills you can have.

The first thing to remember about your bankroll is that it is the money you cannot afford to lose. Never put it in money that you feel bad about parting in worst case scenarios, such as money gathered for rent, wedding, education etc. Paying rent, putting food in your stomach, taking care of your health, and paying your bills should always come before poker.

Secondly, your bankroll should dictate what limit you play. A standard rule of thumb is that a good player should have 300 big bets (BB) at his regular level of play. This amount will be large enough to cover 95% of the swings you will experience, up or down. If you go under 300 BB total in your bankroll you will be risking one of two things: your ability to keep playing solid aggressive poker as you naturally become more protective of your money, or your ability to play poker at all if you continue to play an aggressive game and your bad run doesn’t end.

Thirdly, do not be afraid to move down your limits if you are experiencing a bad swing. If your bankroll dips below 300 BB for the limit after you finish your session, you need to be absolutely certain that your next session is at a limit your bankroll can support. Otherwise you’re leaving your ability to play poker to chance. Poker is primarily a game of skill, so leaving it to chance is simply not worthwhile. There is a good chance that you can beat the next level down, so take the step down for a bit and rebuild your bankroll.

Lastly, ensure that the bankroll is used only for poker. If you wish to continue playing your current game, it is better to reserve the money for the purpose it was intended. Else, when you need it for the game, you won’t have it and then you will end up using the money kept for other more important things in life.

Managing your bankroll truly involves a lot of discipline. Managing it wisely is best insurance a poker player can have.