Have a Poker Bankroll - How Not to Suck at Poker Ep. 6

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Published on 3 September 2014 by Pokerlistings 4502

Not sucking at poker is one of the most important things you have to do if you want to have fun playing poker. In the 6th installment of our landmark poker strategy video series How Not to Suck at Poker we explain one very crucial way you need to not suck, by having a poker bankroll and following proper bankroll management. Most people are extremely attached to money. They work most of their life to have enough of it and losing it can be pretty scary. That's why to be an effective poker player you must have a poker bankroll that's separate from the rest of your regular money. Even the best poker players in the world have losing weeks or even months. The best way to deal with that psychologically is to trust in your ability to win in the long run, and to structure your bankroll and the stakes you play so that you can make it through long stretches of bad luck without going broke. When you have a big enough bankroll you won't be stressed out about a couple losing sessions, and you won't be afraid to pull the trigger on a big bluff, or make a big call when the time is right. The most common guidelines say that in a cash-game you should never put more than 5% of your bankroll in play at a time. That means if you're playing $1/$2 No-Limit at your local casino and you buy in for two hundred dollars, your bankroll should be at least two grand. If you're multi-tabling online you should have even more. For tournaments you should have a bankroll of at least 100 buy-ins. So if you're playing the nightly $10 MTT at your favorite online poker room, you should have at least $1,000 in your account. That probably sounds way too high for recreational players but that just goes to show how much variance there is in tournament poker. These numbers are also designed to make sure you never bust your bankroll. If you're an amateur player who has no problem re-depositing if you go broke, it's definitely okay to take bigger risks with your bankroll.

Even though poker is a skill game, there's still a lot of luck involved in the short term. And if you don't know how to manage your poker money, you could go broke even if your'e actually a winning player. Whether you're an amateur or a pro, one of the easiest ways not to suck at poker is to have a proper bankroll. Most people are extremely attached to money. They work most of their lives to try to have enough of it and the idea of losing it can be pretty scary. But when you're playing poker, you can't let the fear of losing your hard earned cash get in the way in playing the best poker possible. That's why to be an effective poker player, you have to have a poker bankroll that's separate from your regular money. Even the best poker players in the world can have losing weeks or even months and the only way to deal with that psychologically, is to trust in your ability to win in the long run and to structure your bankroll and the stakes you play, so that you can make it through long stretches of bad luck without going broke. If your poker bankroll is big enough, you won't be too stressed out about a couple of losing sessions and you won't be afraid to pull the trigger on that big bluff or make that big call when the time's right. At the recreational level, one of the most common ways people suck at poker is playing on scared money. If you're playing No Limit Hold'em, you can't be worried about putting your stack into play if you're not going to be able to pay rent if you lose. And if you're up against good players and they get even the faintest whiff that you're playing scared, they're going to go after you relentlessly. When you're using proper bankroll management, each cash game session or tournament is only going to represent a small percentage of your total roll and you're not going to have any problem putting it on the line if you think the time is right. The most common bankroll guidelines, say that in cash games, you should never put more than 5% of your total bankroll in play at a time. That means that if you're playing one dollar, two dollar No Limit Hold'em at your local casino and the buy-in is $200, your bankroll should be at least be two grand. For tournaments, you should have a bankroll of at least a 100 buy-ins. So if you're playing the nightly $10 MTT at your favorite online poker room, you should have at least a $1,000 in your account. That probably sounds way too high for recreational players, but it just goes to show how much variance there is in tournament poker. And remember, these guidelines are designed to make sure you never bust your bankroll. If you're an amateur player and you have no problem redepositing if you go broke, it's definitely okay to take bigger risks and put more of your bankroll into play at one time. The most important thing is to keep your poker money and your regular money separate. Figure out how much money you're willing to put towards poker and embrace the idea that once it's in your poker bankroll, you're not going to spend it on rent or toys or anything else. Keeping your poker money and your regular money separate will also give you a really clear idea of how much you're winning and losing. In the next episode of How Not to Such at Poker, we'll explain why a lot of those bluffs that you're making are actually costing you money.