You may have heard of the importance of managing your poker bankroll, but why is it so critical to your success? The easy answer to this question is, If you have no money left then you really can’t continue playing. As simple as this concept is and sounds, mismanagement is probably the number one reason why people fail when it comes to playing poker. People are trying to win too much too fast which usually results in many redeposits back into the poker sites.
For those of you that are not familiar with the term bankroll, basically it is the amount of money that you have put aside to play poker and nothing else. Money needed for necessaties like clothing, food and rent should never be used. The amount that you choose, should be an amount that you are willing to lose playing poker. Here is what I pesonally use and recommend regarding bankroll management.
SNG (Sit n Go’s) – I use 2% or 1/50th of my bankroll for each buy in. For example if you have a $1000 bankroll then you should be playing $20 SNG’s
Multi Table Tournaments (MTT) – I used 1% or 1/100th of my bankroll for each buy in. The main reason for this is that you will have more fluctuations with your bankroll as most MTT’s pay only the top ten percent so you will be cashing less often.
Cash Games – Use only 2% or 1/50th of each buy in. For example if you were playing $1/$2 NL, the buy in is usually 100 X Big Blind so in this case $200. To play at these levels a poker bankroll of 10K would be required.
Now I know some of you are saying that this seems a little exaggerated and farfetched, but if you stick to these guidelines then you virtually eliminate the possibilities of having to redeposit ever again in your poker account. Poker can be a roller coaster ride at times and you will inevitably go through some losing periods. These downswings can force you to you make poor poker decisions especially if you don’t have enough money to get through them. The old saying “Scared money is losing money” is so true.
If you are interested in learning more about being a Winning Poker Player, You can sign up for my FREE SNG Poker Training Course “From Fish to SNG Pro in Only 17 Days” by visiting http://www.sngtrainer.com