Poker Bankroll - The Number 1 Reason Why So Many Poker Players Fail
Poker Bankroll - The Number 1 Reason Why So Many Poker Players Fail
You may have heard of the importance of managing your poker bankroll, but why is it so critical to your success? The answer is very simple, you can't continue playing if you have no money. Mismanagement of their poker bankrolls is probably the #1 reason why so many players fail. 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. You should never use the money that you need for rent, food or clothing. It should be an amount that you can comfortably afford to use and lose playing poker. Below are the guidelines that I personally recommend and use when it comes to managing my bankroll.
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. Since the Multi Table Tournaments usually only payout the top 10%, you will find yourself 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. In my opinion a bankroll of $10,000 is needed at these levels.
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. Not having enough cash to handle these downswings can force you into making poor decisions due to the added extra pressure. The old saying "Scared money is losing money" is so true.
You may have heard of the importance of managing your poker bankroll, but why is it so critical to your success? The answer is very simple, you can't continue playing if you have no money. Mismanagement of their poker bankrolls is probably the #1 reason why so many players fail. 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. You should never use the money that you need for rent, food or clothing. It should be an amount that you can comfortably afford to use and lose playing poker. Below are the guidelines that I personally recommend and use when it comes to managing my bankroll.
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. Since the Multi Table Tournaments usually only payout the top 10%, you will find yourself 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. In my opinion a bankroll of $10,000 is needed at these levels.
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. Not having enough cash to handle these downswings can force you into making poor decisions due to the added extra pressure. The old saying "Scared money is losing money" is so true.
