So why is poker bankroll management so important? The answer is very simple, you can’t continue playing if you have no cash. Mismanagement of their poker bankrolls is probably the number 1 reason why so many players come out on the losing end.Redeposits back into the poker sites is very common as people are trying to win too much too fast.
When I talk about poker bankroll, I’m referring to the amount of cash that has been put aside to use on nothing else but to play poker. It should definitely not be money that you need for the necessities like food, rent or clothing. It should be an amount that you can comfortably afford to use and lose playing poker. When it comes to managing my poker bankroll, here is what I would suggest and personally use.
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. The reason for this is that usually in MTT’s they only pay the top 10% so you will be cashing less often and you will have more fluctuations with your overall bankroll.
Cash Games – Use only 2% or 1/50th of each buy in. For example if you were playing $1/$2 NL, the buy in is usually 100 X Big Blind so in this case $200. My suggestion would be to have $10,000 bankroll to play these levels.
These are the simple guidelines that I have followed to never have to redeposit into my poker site again and as extreme as it seems, will virtually eliminate the possibilities of you going broke. You will inevitably go through some losing periods as there are always ups and downs when playing poker. These downswings can force you to you make poor poker decisions especially if you don’t have enough money behind you to get through them. The old saying “Scared money is losing money” is so true.
If you are interested in learning more about being a Winning Poker Player, go ahead and grab a FREE copy of my special poker report: “Poker Secrets – 5 Mistakes to Avoid Even Before You Sit Down at The Table” by visiting http://www.virtualpokercoaching.com