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In today’s video, we talk about the all-important concept of poker bankroll management. If you don’t follow a solid poker bankroll management strategy, you’ll want to watch this video.
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Defining a Bankroll
Your bankroll is essentially the amount of money you have set aside to play poker.
What is Bankroll Management
Therefore, bankroll management (BRM) is the methods in which a poker player manages his or her bankroll. However, it is more than just that. Bankroll management is a combination of using our bankroll size to determine what stakes we can afford to play at while minimizing our risk of going bust.
Importance of Bankroll Management
All poker players face what is called variance, essentially the up and down swings within poker where we either sometime win a lot or at other times lose a lot. We all go on heater sessions where we cannot lose and at other times we run ice cold and can’t seem to win a hand.
Proper bankroll management allows us to withstand variance downswings and prevent us from going bust. Without proper bankroll management and having the appropriate bankroll size, we risk the possibility of losing our entire bankroll.
Bankroll Size
There is no single set rule on bankrolls and different players with different goals will require different-sized bankrolls. However, for online poker players it is widely recommended that you have anywhere from 20 to 40 buy-ins (BIs) at your current stake.
Taking Shots
There are basic rules:
Once you reach 20BIs at the next level, take a shot and move up.
If you go on a variance downswing and drop below your initial 20BI bankroll, move down a level.
Basic Tenets of Bankroll Management
Never Play Outside Your Financial Means
You should never play outside your financial means, period. Variance downswings are a fact in poker and you do not want to put yourself in a spot that will bust your entire bankroll or cause you financial harm away from the poker table.
Focus on Your Goals
Let your own personal goals dictate your bankroll management needs. If you are recreational player that plays for fun and has other sources of income, then a smaller bankroll is okay. However, if you are a professional poker player that relies on your bankroll, you should strictly adhere to proper bankroll management rules to minimize your risk of going bust.
Play Stakes your Bankroll can Withstand
Remember that variance downswings are a fact within poker. It is not a matter of if you will go on a major downswing, rather it is when and how big of a downswing. Therefore, you should never play higher stakes than you bankroll can permit you to withstand variance.
Thoughts on Online Bankrolls
While it is tempting to leave your bankroll online on the sites that you play, it is highly recommended to not do so. After the Full Tilt scandal, poker players should not trust or rely on poker sites to handle a majority of their bankroll, especially if that person is a professional poker player. The last thing you want is to have a majority of your net worth stored on a poker site.
Source: YouTube
Let us know what you think about our latest Poker 101 course lecture on bankroll management!
I love this content. Please continue with poker 201 and 301
Just started to learn poker. Really happy that I found you. Thanks for lessons)
what is your name on global? you have probably seen me i always play the 6 max hypers
really helpfull thx 😉
Hi. Thanks for great content. When I heard u say: "I am more of BR-nit, so I use around 40 buyins", I just realized how concervative I am with my BR. I have 27k and play mostly NL 200 and NL 100. I have solid numbers to verify that I crush NL 100, while being breakeven, and maby a slight loser at NL 200. I want to work on this aspect of poker, taking shots etc. What strategy would you recommend for me? The highest stake on my site is NL 400. I play 6-8 tables, only 6-max. Thanks a lot
As a recreational player, I have become enamored with WSOP tourneys. My local cash game is $1/2 and I'm a consistent winner. Only risk $300 at a sitting. Played a circuit event in February on vacation and cashed. Played another a few weeks ago targeting the $1700 Main Event and won a spot via a $250 Sat. Finished near the bubble. My modest bankroll is $5K and growing. Plenty of local games I avoid due to BM. My "shots" in the future will be targeted at a tourney every 3-4 months. I don't live near a casino, and I can generally replace/save over three months $2.5K directed for them.
Good video Keep them coming.
anybody….what are safe online casinos to play? which ones to avoid? do they really pay out? legal? just starting and don't want to get ripped. any references would be great. thanks.
This video has a big problem that most instructional videos on YouTube have and that’s assuming beginners already know something. You mentioned “buy-in” more than anything else in this video and I don’t even have any idea what a buy-in is.