Bankroll Management in Poker

Bankroll management is one of the most crucial aspects of poker, yet it’s often overlooked by many players. Proper bankroll management ensures that you can withstand the natural ups and downs of the game, avoid going broke, and ultimately achieve long-term success. Whether you’re a recreational player or an aspiring professional, understanding how to manage your poker bankroll effectively is essential to your growth and sustainability in the game. In this article, we’ll explore the fundamentals of bankroll management, offer practical tips for different game types, and highlight common pitfalls to avoid.

What Is Poker Bankroll Management?

Bankroll management refers to the practice of managing the money you’ve allocated specifically for playing poker. This involves setting aside a certain amount of money for poker and adhering to guidelines that dictate how much of that bankroll you should risk in any given game or session.

Example: If you’ve allocated $1,000 as your poker bankroll, proper bankroll management would involve choosing stakes and games where the risk of losing a significant portion of that bankroll in one session is minimized.

Why Is Bankroll Management Important?

Bankroll management is essential for several reasons:

1. Protection from Variance

Poker is a game of skill, but it also involves an element of luck, known as variance. Even the best players can go through losing streaks due to bad beats or cold cards. Proper bankroll management helps you survive these downswings without going broke.

Pro Tip: By maintaining a large enough bankroll relative to your stakes, you can weather the storms of variance and continue playing through difficult periods.

2. Reducing Emotional Stress

Playing with a bankroll that’s too small for your chosen stakes can lead to increased emotional stress, often resulting in poor decision-making. Effective bankroll management reduces the pressure of losing and allows you to play with a clear mind.

Example: If you’re playing with your entire bankroll on the table, even a small loss can be devastating, leading to tilt and further losses. Proper bankroll management helps prevent this scenario.

3. Sustained Growth

A well-managed bankroll allows for gradual growth over time. As your bankroll increases, you can move up in stakes and take on tougher competition, all while minimizing the risk of going broke.

Pro Tip: Set specific bankroll milestones for when to move up or down in stakes, ensuring that your progression is steady and sustainable.

Basic Bankroll Management Guidelines

The following guidelines can help you manage your bankroll effectively for different poker formats:

Cash Games

In cash games, it’s generally recommended to have at least 30 to 50 buy-ins for the stakes you’re playing. A buy-in is typically 100 big blinds (BBs) for No-Limit Hold’em.

Example: If you’re playing $1/$2 NLHE, where the maximum buy-in is $200, you should have a bankroll of at least $6,000 to $10,000.

Pro Tip: The exact number of buy-ins you need depends on your risk tolerance and the game’s variance. More conservative players or those playing in high-variance games like Pot-Limit Omaha might prefer to have 80 to 100 buy-ins.

Tournaments (MTTs)

Multi-table tournaments (MTTs) are highly volatile, and it’s common to go long periods without cashing. As a result, a larger bankroll is necessary. A common recommendation is to have at least 200 buy-ins for the tournaments you’re entering.

Example: If you’re playing $50 buy-in tournaments, your bankroll should be at least $10,000.

Pro Tip: For larger-field tournaments with higher variance, consider having an even larger bankroll, such as 200 or 300 buy-ins, to account for extended downswings.

Sit & Gos (SNGs)

Sit & Gos (SNGs) have less variance than MTTs but still require a solid bankroll. A typical recommendation is to have 50 to 70 buy-ins for the SNGs you’re playing.

Example: If you’re playing $20 SNGs, you should have a bankroll of $1000 to $1,400.

Pro Tip: Adjust your bankroll requirements based on the specific format of the SNGs you’re playing (e.g., turbos, hyper-turbos) as these formats can increase variance.

Bankroll for Live Poker

Live poker generally has lower variance compared to online poker, but larger bankrolls are still advisable due to higher costs (e.g., travel, food, accommodation) and the potential for extended downswing.

Example: For $2/$5 live cash games, where the typical buy-in is $500, a bankroll of at least $10,000 to $15,000 is recommended.

Pro Tip: Factor in the additional expenses associated with live poker when calculating your bankroll requirements.

Moving Up and Down in Stakes

Knowing when to move up or down in stakes is a crucial aspect of bankroll management:

Moving Up in Stakes

Only move up in stakes when your bankroll comfortably supports the new level. 

Pro Tip: Before moving up, ensure that you’re consistently beating your current stakes. Moving up too quickly can lead to unnecessary risk and potential bankroll depletion.

Moving Down in Stakes

If your bankroll drops below the recommended level for your current stakes, don’t hesitate to move down in stakes. This is a smart, disciplined move that allows you to rebuild your bankroll without risking going broke.

Example: If your bankroll falls to $5,000 while playing $1/$2 NLHE (where $6,000 to $10,000 is recommended), move down to $0.50/$1 until you rebuild.

Pro Tip: View moving down in stakes as a temporary adjustment rather than a setback. The goal is to protect your bankroll and give yourself the best chance of long-term success.

Adjusting Bankroll Management for Variance

Different poker formats and playing styles can influence the level of variance you experience:

High-Variance Games

Games like Pot-Limit Omaha (PLO) or turbo tournaments have higher variance, requiring a larger bankroll. In these cases, you might need 80 to 100 buy-ins for cash games or 250 to 300 buy-ins for tournaments.

Pro Tip: If you’re playing in particularly aggressive games or against tough opponents, increase your bankroll requirements to account for the additional variance.

Aggressive Playing Style

If you have an aggressive playing style that involves taking more risks, you may experience greater swings in your bankroll. Consider increasing your bankroll to ensure you can sustain this style of play over the long term.

Example: An aggressive tournament player who frequently bluffs or plays speculative hands might require a larger bankroll to handle the inevitable downswing.

Pro Tip: Continuously monitor your results and adjust your bankroll management strategy based on your playing style and the specific games you’re participating in.

Common Mistakes in Bankroll Management

Even seasoned players can make mistakes in bankroll management. Here are some common pitfalls to avoid:

1. Chasing Losses

One of the most dangerous mistakes is increasing your stakes after a losing session in an attempt to recover losses quickly. This approach can lead to significant bankroll depletion.

Pro Tip: Stick to your bankroll management plan, regardless of short-term results. Avoid the temptation to chase losses, and focus on making consistent, profitable decisions.

2. Ignoring Downswings

Failing to recognize and adjust for downswings can be detrimental to your bankroll. Always be prepared to move down in stakes if your bankroll decreases significantly.

Example: If you’ve lost several buy-ins in a row and your bankroll is shrinking, don’t hesitate to drop down to a lower stake to protect your remaining funds.

Pro Tip: Keep a detailed record of your sessions to identify trends and potential downswings. This data will help you make informed decisions about when to adjust your stakes.

3. Playing Under-Rolled

Playing with a bankroll that’s too small for your stakes can lead to unnecessary stress and poor decision-making. This often results in going broke, even if you’re a skilled player.

Pro Tip: Be disciplined in your bankroll management. If you find yourself playing with a bankroll that’s too small, move down in stakes immediately to preserve your funds.

Building and Rebuilding Your Bankroll

Whether you’re building your bankroll from scratch or recovering from a downswing, these strategies can help:

Start Small

If you’re starting with a limited bankroll, begin at the lowest stakes available. Focus on gradually increasing your bankroll through disciplined play and smart game selection.

Pro Tip: Consider playing in soft games with lower variance, such as micro-stakes cash games or small-field SNGs, to steadily grow your bankroll.

Use Bonuses and Rakeback

Take advantage of bonuses, promotions, and rakeback deals offered by online poker sites to supplement your bankroll. These extra funds can help you build your bankroll more quickly.

Pro Tip: Regularly check for reload bonuses, freerolls, and other promotions that can boost your bankroll without additional risk.

Be Patient and Persistent

Rebuilding a bankroll after a downswing requires patience and persistence. Focus on playing your best game, avoiding tilt, and sticking to your bankroll management plan.

Example: If you’ve suffered a major downswing, rebuild by playing at lower stakes where the competition is softer and the risk is lower.

Pro Tip: Set small, achievable goals for each session or week to stay motivated and track your progress as you rebuild your bankroll.

Conclusion - The Path to Long-Term Poker Success

Bankroll management is the cornerstone of long-term success in poker. By following the guidelines and strategies outlined in this article, you can protect your bankroll from the inevitable swings of the game, reduce emotional stress, and ensure sustained growth over time. Whether you’re playing cash games, tournaments, or SNGs, disciplined bankroll management will empower you to make better decisions and ultimately achieve your poker goals.

If you’re serious about improving your poker skills and want personalized guidance on bankroll management and overall strategy, consider professional coaching. At BluffTheSpot, our expert coaches can help you develop a tailored bankroll management plan that fits your goals and playing style. Join us today and start your journey to becoming a more disciplined, successful poker player.