If you're poker player you will be aware at this point that your particular bankroll will be your poker bible. If you have zero bankroll you simply can't play poker! This article will present you with some valuable information about how to deal with your bankroll and the ways to never go bankrupt!
Importance Of A Bankroll:
Even in case you are the most effective poker player on earth, you'll want 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 in this thread. This is step one to transforming into a WSOP bracelet winner.
The Chris Ferguson Method:
I read a piece of writing a little while back written by Chris about his transformation of $1 into $20,000. He used the following approach to make certain he could handle his variance swings. He played cash games and made sure that he always had 20 buyins. These were not full buyins we were holding half buyins. If you wished to play $0.01/$0.02 cash games, the max buyin is $2 and so you'd buyin for $1. This would mean that you'd probably have to have $20 to get properly bankrolled for $0.01/$0.02. Likewise, should you have had 100 after this you you are bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins then you need dropping as a result of an amount where you are properly bankrolled.
This method has been surefire. It's a good method if you stay with it. You must be prepared to hit bad variance and move down a quantity or two if you wish to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you must have always no less than 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 throughout the rebuy period (please read my article on rebuy strategy). This means you might want no less than 6 x 30 buyins because obviously you will be double rebuying and adding on! Remember in case you fall five or ten you need to decrease the amount you spend on entry fees. Again, the idea of used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative towards the Chris Ferguson Method you will find the Classic NL (no limit) Method. The basic notion of this method is usually to keep no less than 2000 big blinds for the level you would like to play. That's right! to be properly rolled for $0.01/$0.02 you may need a minimum of 40 dollars. If you're winning with the level you're playing at so you get the players better to beat, then you can 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 stick to 2000 big blinds as variance has very damaging affect money wise. Please note that you'll need a lot more than 2000 big blinds for 6 max tables and oversees.
Classic Limit Bankroll Method:
Limit poker is a WHOLE different ball game. You can have as low as 400 big blinds with your account because you'll be risking less per buy in and also the variance is here smaller. In limit holdem it will always be impossible to lose your stack similarly coming from a cold deck, unlike NLHE.
NB. I do not play limit holdem and so I don't have any exposure to this bankroll. The general consensus with players I have spoken to is that this will be the right bankroll you must strive for.