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 cash. I know it sounds easy, but this is the main reason why so many poker players fail.A lot of players become greedy and want to make to much way too fast which usually ends up in more deposits 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 MTT’s 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. As an example if you were playing $1/$2 NL, the buy in is usually 100 X Big Blind so in this case $200. To play at these levels a poker bankroll of 10K would be required.
As exaggerated as it may seem, by sticking to these simple guidelines you will virtually elimante the chance of losing all of your money and is the reason that I never have to redeposit into the poker rooms. You will surely go through some losing periods as there are always ups and downs when playing poker. If you don’t have enough money to go through these swings it adds a lot of pressure on you, which in turn forces you to make bad decisions because the money is an issue. There is so much truth in the old saying “Scared money is losing money”.
If you are interested in learning more about being a Winning Poker Player, You can sign up for my FREE SNG Poker Training Course “From Fish to SNG Pro in Only 17 Days” by visiting http://www.sngtrainer.com
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