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Bankroll management is very important for serious players, but unnecessary for casual players. If you are playing the game to make money you absolutely need to follow bankroll management guidelines. One of the easiest ways to go broke in poker is by disregarding the need for bankroll management. Bankroll management is useless if misapplied, it is a simple concept that requires intense self discipline.

What is bankroll management and why is it important?

Proper bankroll management will allow any player to sit down at a table with his mind at ease. Nothing is more nerve racking in poker than playing at a table that you only have one buy in. The stress level in situations like this is insurmountable.  One tough hand and you will go broke; now, do you really want to play with this type of insecurity? If your answer is yes then you can ignore bankroll management. If you answered no you have discovered exactly why bankroll management is so important. It serves as insurance for any poker player. Downswings can ruin a bankroll, that is for sure, but they don’t have to. If you are willing to move down when you are going through a rough patch you will be one step closer to success in poker.

How to manage a bankroll

There is much more involved in bankroll management than simply having enough buy ins for your initial limits. Before we get into the intricate details, however, we will first see how many buy ins should be maintained in your bankroll.

If you are a cash game player you should always have at least 20 buy ins. This number could be dropped to 15 if you had a strong advantage of your opponents, but 20 is the general rule of thumb. If you are playing .50/1 it would be a good idea to keep 20 buy ins in your bankroll. As you jump limits beyond .50/1 it is crucial that you add a few buy ins to your bankroll. For example, 25 was enough to play .50/1, but 30 is much better for 1/2. As you move up in limits the competition will get much fiercer, and this vicious competition will lead to increased levels of variance. Once you are at 5/10, however you can set the cap at 40 buy ins. There aren’t many games that will require more than 40 buy ins, unless you are playing a game like Omaha.

Now that you know how many buy ins to keep, what do you do if you drop below the minimum threshold? The answer is simple, you move down in limits. The alternative to moving down would be adding money to your bankroll, but you should really consider whether you can beat the limits you are at before you do this. When you drop below your required buy ins all you need to do is apply the same concept to the lower limits. If you needed 25 buy ins at .50/1 and have 22, simply play .25/.50 where you will have 44 buy ins. When you get back to 25 buy ins for .50/1 you can move back up. Repeat this process and follow it strictly.

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