Poker Bankroll Management

You have to have money to make money.

Here's a short story that illustrates how important bankroll management is in poker.

 

The Battle: Barney vs. Gamble

The rules:

  • Both start with $1,000
  • Both are equal in poker skill

 

The Barney Story

Barney is more conservative compared to most expert poker players when it comes to his bankroll requirements.

Barney focuses on the long-term gains instead of the short-term.

His bankroll guidelines are:

  • Have at least 30 buy-ins for the limit he plays. (i.e. minimum $6,000 for $200 No-Limit Hold'em with $1/2 blinds)

  • When he drops below the 30 buy-in threshold he goes down one (1) limit until he has 31 buy-ins for the previous limit and then jumps back up (i.e. He has $5,999 left and quits his regular $200 No-Limit game. He goes down to $100 NLHE until he has $6,200, he then jumps back up to $200 NLHE)

Seems like Barney has a solid plan that improves his chances for successful gambling. Sound bankroll management is what this site and texas holdem poker 101 advocate.

 

The Gamble Story

Gamble doesn't really have a plan. He believes that most poker players, expecially expert poker players don't use silly plans.

Gamble instantly goes to $1,000 NLHE table with a $10 big blind and $5 small blind.

He puts his whole bankroll at the table and is feeling good.

Gamble peaks at his hole cards and sees 97 suited under the gun, he decides to raise it up so others can't read him.

 

Barney: 5 Years Later ...

Barney owns a small apartment complex which now provides him and his family with enough income so Barney and his wife don't have to work all the time.

Barney still likes to play poker to have fun and it gives a nice boost to his income.

He is feeling great and was glad he didn't rush things in the beginning of his poker career.

 

Gamble: 1 Year Later ...

Gamble's bankroll went from $1,000 to $100,000 within a month and his variance was wild. He lost $80,000 and won $50,000 and his bankroll was all over the place.

Mainly because he didn't practice sound bankroll management.

The end result?

Sir gamble works in a pet shop store and grooms cats all day.

The End.

 

Disclaimer

No cats were harmed during the production of this story.

I have nothing against cats, this was merely to prove the point that bankroll management for poker is crucial for success.

 

Summary

  • Have a bankroll management plan like successful expert poker players have
  • Write down specific rules and follow them exactly
  • Eat your fruits!

 

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