Bankroll Management in Poker

There are many things that are important in any given game of poker. Luck, skill and patience are among the more important factors. But one that is very, very often overlooked or is simply unknown is bankroll management. The sad thing about this is that bankroll management is probably the most important strategy that dictates whether you profit over the long haul or not. Especially when learning to play, many forget they have to be able to afford the losses.

There are many different views as to how much you should risk on any given game. Some pros would say they wouldn't ever go over 10% of their bankroll, but many argue that you really need to stick to, at most, 5% or less. When one sticks to 5% or less, they can afford the downswings. For anyone beginning to learn this game, downswings are just a part of the game and no one can win every time. There are going to be tough times. This game involves luck, and luck isn't always good. When its good, everything is wonderful. But how you handle the downswings can mean the difference between going broke and bouncing back. Downswings are not only the product of bad luck, but many times it also has to do with the way we all thing we are doing something wrong when the luck runs dry. Changing your game definitely isn't always the best idea. All pros would suggest just a simple break. Take a week or month off from the game. It can be a brutal game and there's no reason to keep beating yourself up. Sticking to a strict bankroll management will help you afford the downswings so you don't get completely discouraged in your game by going broke.

Bankroll building is what this game is about. The only way to effectively build is to manage. Its very similar to investing in anything. You wouldn't wanna put every penny you have in one stock, no matter how good you know its going to do. The same thing goes for poker. Don't put all your chips in one basket because if or when that basket breaks, so does your ability to try to build a bankroll. Even the best tournament players in the world only cash about 30% of the time. That's the best in the world! They even have to manage their bankroll in order to not go broke the other 70% of the time. You are not special and the odds won't change. You aren't favored to win every game, but you will win! Stick to 5 to 1% of your bankroll and you will afford the losses.

Even when someone understands bankroll management in tournament poker, they continue to overlook managing for a cash game. Cash game rules shouldn't be any different than tournament management. Stick to 5% of your bankroll for cash games and you will eventually see the profit coming in. Now that you have the idea of how to manage your bankroll, don't get greedy. Greed is the number one thing to make you stray away from this philosophy. Stick to your game, stick to your management, and play the odds! Poker is entertaining but can also be very profitable.