A lot of players who start out playing poker do not have any idea about how to manage their bankroll. Bad knowledge of Bankroll Management will almost always result in the player eventually going broke and having to make a new deposit to the poker room. We all hate losing money and even worse; going broke.
The idea of bankroll management can be applied to any game, activity or sporting event that you wager money on, all of which can be done at websites like onlinegambling.com.au. Ideally, you want to give yourself enough leeway so that a bad run of luck doesn’t send you back to the ATM or your credit card.
There are different bankroll strategies for different types of poker games and limits. There is one Cash Games Strategy and one Tournament Strategy approach to this bankroll management system.
Cash Game Strategy
If you are playing cash games then your optimal strategy will vary depending on if you are playing No limit and Pot Limit Hold Em or if you are playing Fixed Limit Hold Em.
No Limit Hold’em
When playing No Limit Hold Em it is recommended that you have at least 20 buy ins for the level that you are playing. However some players are saying that you need as much as 40 buy ins on your current level to feel safe and stable. This means that if you are for example playing at the $1/2 NL tables with a maximum buy in of $200 you will need a bankroll of at least $4000.
Fixed Limit Hold’em
For Fixed Limit Hold Em Players it will be calculated a bit different. It is recommended that a Fixed Limit Hold Em player should have at least 300 Big Bets for the level where they are playing. This means that if you are playing on the $5/10 Fixed Limit tables you will need a bankroll of at least $3000.
Sit N Go Tournament Strategy
If you are a Sit and Go player you will have to use another approach to the bankroll system in order to optimize your bankroll. When playing in Sit and Go tournaments you should have at least 40 buy ins for the level you are playing at to practice good bankroll management. This means that if you are playing $20+2 SNGs you should have at least $880 in your bankroll.
When playing after these guidelines you are less likely to go broke. If you are on a losing streak you will have to go down in levels to make sure that you are always following to bankroll rules that you have set up. If you for example started out with $880 playing $22+2 SNGS and lost your way down to $440 you will have to move down to the next level which would be $10+1. Then when you hit $880 again you can allow yourself to move back up to the $22+2 level.