Poker is an entertaining game, but what if you want to take your game to the next level? Instead of depositing money every once in a while, winning occasionally and losing again, now really start earning in the long run? Bankroll management is one of the keys to becoming a successful poker player.
Poker is a game of variance—no doubt about it. Even if you make the right choice, you can still lose. Imagine you have AA, and you manage to get all the chips to the middle. Fortunately, your opponent has QQ. The flop comes K24, and you’re already counting your money. The turn is a J, and so far, no worries, but then the river is a woman. No doubt, some of you will curse and rant, throw your mouse through the room and close the poker table to log out. Your chips are all gone. But did you do something wrong?
No, of course, I didn’t. Your opponent just got lucky; it’s part of the poker game. This is called a variance. Don’t forget, in the long run, and win this hand four times out of 5. To make sure you don’t run out of chips due to this element of luck in poker, there is bankroll management. Bankroll management ensures that it doesn’t matter if you experience a suck out at the poker table. You buy back in and know that the next time the same situation occurs again, you’ll probably win the hand.
Operation Bankroll Management (BRM)
So how does bankroll management work? This differs from game to game and player to player. But in no-limit cash games, it’s common to have about 25 to 30 buy-ins for the tables you play. If you have $120 to play, you can play at $4 per meal. In tournaments, most players play at 1% of their bankroll. If we look at the $120 to play again, you need to pay the $1.20 games. Fixed limit poker players usually play with about 500 big bets. In contrast, Omaha players use 50 buy-in bankroll management, due to the greater variety in this game than in the standard No-Limit Holdem.
With the help of proper bankroll management, your luck can have less impact on the game. But bankroll management also has a lovely side effect. Because you don’t have to worry about losing an all-in when you know you’ve made the right choice, since you still have 29 buy-ins for this game, your mindset will also be better. Poker players all know what tilt is, and how it can ruin your game. Don’t worry too much about it anymore; it’s only a few percent of your bankroll, next time, you’ll win!
I hope you can see the importance of bankroll management. If you think poker is a game of skill rather than luck, you should see this easily. You can play longer, gain more experience, and instead of being happy to win buy-in, you’ll focus on getting enough buy-ins for the next limit. Working your way up the limits should become your new goal!