Bankroll management is of the utmost importance for success in playing poker. Winning players do not “play over their head,” meaning they do not overextend their bankroll by playing in higher stakes games in which they cannot afford to lose.
This is exactly why such undisciplined players eventually go broke. They risk their entire bankroll on one tournament or in one cash game in hopes of quickly doubling-up. This double or bust mentality is a result of the impulse of gambling; a player must stay disciplined and use patience.
Building Your Bankroll Slowly
As a low-stakes poker player, you should build your bankroll slowly with small consistent gains as opposed to winning and losing in big swings. Huge prizepools and the opportunity for big short-term gains may be appealing, but being a winning poker player is measured over the long-term.
The 2 Percent (%) Rule
A good rule of thumb to consider is to commit only 2% of your bankroll to any single table tournament buy-in at any given time. The object is to gain experience with the potential of profit without incurring too big a loss. One of poker’s two essential instincts is survival, and strictly managing your bankroll is vital to self-preservation, i.e. living to play another day.
Only risking 2% of your bankroll may seem passive and unnecessarily tight, but in practice, it is fail-safe way of protecting yourself against your own gambling inhibitions. Players that risk big portions of their bankroll put themselves in danger of busting early and blowing their entire bankroll in an attempt to compensate for previous losses.
Only losing another 2% is a lot more rational than emptying an account trying to rectify a recent string of bad beats. Losing, bad beats, and luck are part of the game and inevitably influential in its outcome. Take small loses and move on when they happen, do not blow your money hoping for a big score.
In order to follow the 2% Rule, players must have an available bankroll of fifty times (50x) the limit at which they wish to play to adequately compensate for any losses that may occur while maintaining sufficient funds to continue play and gaining experience.
Example(s):
- To play a $1 single table Sit and Go tournament a player needs an available bankroll of at least $50.
- To play a $5 single table Sit and Go tournament a player needs an available bankroll of at least $250.
- To play a $10 single table Sit and Go tournament a player needs an available bankroll of at least $500.
Chris Ferguson Challenge
Those new to the game or low on experience should take into account professional poker player Chris Ferguson’s $0 to $10,000 Challenge. Ferguson successfully grew his bankroll to $10,000 by following his own similar set of bankroll guidelines as documented on the Full Tilt Poker.com.
Things to Remember
- Only commit 2% of your total bankroll to a game
- It is better to build your bankroll slowly than to experience wild swings
- Poker is about survival, bankroll management is a primary means of survival
- You need a bankroll of at least 50 times the limit you wish to play
Related Articles
Does Winning Online Make You a Better Poker Player: Assessing Your Actual Poker Skill
Honing Your Online Poker Game: Tools for Playing Online Poker
Basic Online Poker Tournament Strategy: Understanding Tournament Basics
