Learning how to manage money in poker is one of the first strategies that we must learn in order to avoid going bankrupt at the first change. The bankroll is one of the most transcendental concepts in this game and our ability to overcome a bad streak or not will depend on it, forcing us to go down a level and start again. In this article we want to explain what bankroll poker is and how to manage your bankroll poker in order to play successfully and face the results in the best possible way. Keep reading this article for more information!
To answer what is bankroll poker we have to look at the translation from English to Spanish in which we find the definition of “finance” or “bank”. In the end, this concept has a lot in common with its translation and that is that the bankroll is what allows us to play the games in this card game and compete in tournaments. The poker bankroll is nothing more than the total amount of money we have available to play poker – like our special poker bank account. The bankroll is used for the following:
The bankroll is the sum of all the money that is available solely and exclusively to place bets, regardless of whether they are in one poker room or another, or in several of them simultaneously.
Proper poker bankroll management is vitally important. This will allow us to make money in the long run, as is the case with almost all good management and investment. There are different ways to manage your bankroll and generally everyone has their own method. However, there are some common patterns that must be taken into account and followed to avoid bankruptcy. These are explained below.
All professional players know that in poker there are bad streaks and good streaks. That’s why it’s essential to have at least two separate accounts for managing your bankroll and your personal expenses – such as rent, utilities, groceries, financing… -. It is therefore essential to always have a special account to meet your expenses. In addition, our personal account must remain unchanged. Under no circumstances should you take money out of your account to play poker off the bankroll.
The bankroll corresponds only to the money you have available to play poker. If you have to deduct expenses from your account, the bankroll is the result of subtracting them. When we play out of bankroll, what we are doing is playing outside of our financial possibilities and that, with total certainty, will end up in a broken bank sooner or later. This is what is known in poker slang as busts. The bankroll is something that must be respected, this is the general rule accepted by most professional players.
If we want to play in cash inside bankroll we must have a certain level of blinds to be able to do so. You must have between 50 and 100 boxes of our level to be able to play safely. However, the more the better. To guarantee success our recommendation is that you play with a minimum of 60 to 70 boxes. If you play a £0.02 / £0.04 cash game (NL4) with 100 blind boxes you should have around £200, whereas if you play a £0.5 / £1 cash game with 100 blind boxes you should have around £5,000.
The entry fee for Sit & Go’s varies greatly, depending on the bookmaker and the tournament in question. Our recommendation for proper poker bankroll management is to have at least 40 to 80 times the Sit&Go buy-in. For example, if you are playing a Sit&Go at 1+0.1 you should have between €40 and €80 before participating.
In multi-table tournaments, the poker bankroll must be at least 100 times the entry fee. However, if the tournaments number in the hundreds and involve thousands of players, the variance is enormous, so we advise that the bankroll should be greater than a multiple of 100.
Just because we have a starting bankroll of thousands of euros does not mean we should start at the highest levels, such as the €0.5 / €1 blinds. As important as it is to manage your bankroll, it is also important to acquire a poker strategy. Therefore, you should start from the basic levels of NL4, NL10… all the way up to NL50 or NL100. You must prove that you are a winner at each of the different levels above in order not to become a fish.
Some of the essential and basic factors you should take into account when managing your bankroll, apart from those mentioned above, are to know the exact amount you have available to place your bets – as it is obvious – but you should also take care to find a bookmaker that guarantees your investment – as much as possible -. We also recommend that you get as much information as possible before placing your bets in order to know the player, the ranking position… Don’t forget to get in touch with the game of poker starting with basic levels and without real bets – in case you are a beginner you can find a lot of games available for your phone, as well as online games.
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