How to Manage a Poker Bankroll

Your Poker Bankroll: Manage it, or Lose it.

In poker, you have one lifeline, your bankroll.

Without it, you can’t buy into any tournaments or cash games.

For this reason, the most important thing as a poker player is to protect your life. Protect your money by learning how to manage it correctly.

The basic rule of thumb in bankroll management is to not put more than 5% of your entire bankroll into a cash game or single table sit n go. For multi-table tournaments, you should not be putting more than 1-2% of your roll on the line for a buy-in.

Under these rules, if you have a bankroll of $10,000, you should not be buying in to any cash game for over $500 and no tournament over $100.

At times, there will be opportunities to stretch these limits slightly but only if the games are VERY JUICY and you know you have an advantage.

Even having an advantage in a game doesn’t GUARANTEE that you will win. Luck is always a factor in poker and if you get unlucky, it can take a huge chunk out of your roll that you will slowly have to rebuild.

I will take shots in multi-table tournaments for up to 5% of my roll if I see that the player list is very weak. I want to invest in games I know I have the opportunity to make a lot of return on my investment.

The downfall of a lot of successful players is not managing their roll correctly. They hit a big score in a tournament and then dump it off in the cash games. Keep in mind, as the stakes get higher, the competition gets better.

I use a program called PokerTracker 3 to track all of my winnings and statistics of each of my individual opponents at the tables.

With PokerTracker, I can see how much I have won/lost at a certain stakes so I can determine my long term average win rate. If you are not beating a certain stakes after 10,000 hands, you will probably never beat it until you improve your game.

Find the stake that nets you the best return, and stick to it to build your roll.

You will lose money and win money on any given day depending on a variety of factors. ALWAYS manage your roll and make sure you are playing your A+ game or don’t bother sitting down. If you are not in the right mental state, YOU WILL LOSE MONEY, and losing money causes a lot of people to LOSE EVEN MORE MONEY. They like to chase their losses hoping to win their money back and in the process, rip their entire roll to shreds.

INCORRECTLY Manages a Bankroll

Just ask Viktor “Isilidur1″ Blom about bankroll management. This gentlemen might be one of the top 5 No Limit Hold’em players in the world, but he simply cannot manage a bankroll.

I am sure he is being staked and he makes some money from his Pokerstars sponsorship, but he is the complete opposite of an example of how to manage a bankroll!

Blom has won $5,000,000 in a week, then lost it all the next.

He is a complete sicko, but that is what separates him from the others at the high stakes.

His problem like many others is TILT.

He goes on big winning streaks, but can’t cut off his losing streaks.

He is only 21 years old, so I don’t blame him.

It must be tough being a millionaire at his age!

If you are serious about developing your game, I suggest checking out some of my other articles I have written:

The Poker Trance: The Ultimate Poker Mindset

Top 10 Reasons You Should Play Poker

Top 5 Reasons You Lose at Poker

My Multi-Table Tournament Strategy

Booking The Win at Final Tables

The $3,000 Guarantee Final Table Takedown

Top 5 Heads-Up No-Limit Cash-Game Strategies

How to Develop Into a LAG (Loose-Aggressive) Player

My Most Profitable Session of Online Poker

Using a Rubberband To Squash Negative Thinking Patterns

Good luck at the tables! :)

“Leveling” Opponents in Poker Tournaments

“Leveling” is a term coined by many poker players as a process of outsmarting an opponent through deductive reasoning and logic.

You try to determine where your opponent stands in a current hand, their current mind state, what they think about your holdings and how much you think this tournament and more importantly the money truly means to them.

All of these are factors if you want to exploit your opponents with aggressive moves deep in big tournaments.

The King of Leveling

As tournaments get deeper, the prizes get larger and many players start focusing on the different pay jumps at different levels.

I am only concerned about winning the tournament, and I will make moves that look super stupid to the average player, but I have to take calculated risks if I want to succeed long-term as a player.

I am willing to lose 20 straight tournaments to book a win in the 21st because the prize for the 21st will completely outweigh the buy-ins I spent on the other 20.

Because of the increasing blind levels in comparison to chip stack sizes, you have to attack pots and add to your stack or you will blinded out and have to rely on luck to stay alive. For this reason, I like to turn up the aggression as the final table approaches.

In order to effectively exploit opponents and “level” them, you need to develop a good read. You need to focus on how players act when you are in a hand, and while you are not in a hand. If you focus on anything except what is going on at the table, you lose the chance to pick up valuable information and tells.

Little details count, even how an opponent stacks his chips can help you determine what type of player they are. You have to size up your opponents if you want to make big moves to take down big important pots in the late stages of tournament play.

As I have talked about before in my previous articles, putting your opponent at a decision for every chip in front of them is the strongest move in tournament poker. Many players are afraid to bust their tournament life, and they are less likely to gamble. Finding these opponents and exploiting their passiveness can net you some easy chips to add to your stack.

There are times where I will shove all in with any two cards if I determine the remaining opponent or opponents in the pot to be weak and passive. 95% of the time they will fold unless they have AA,AK,KK,QQ,JJ and sometimes 10,10. Many players are afraid to even gamble with hands such as 99,88 and lower pocket pairs for their tournament life in spots where I will snap call with these holdings against another opponents all-in shove. Even against AA, my hand is never dead and there have been times where I shove J6o and crack aces by hitting two pair or a set.

No hand is ever 100% pre-flop, so you always have a chance to win. You never are getting your money in dead preflop.

You can also exploit solid aggressive opponents as well.

If You're Not First, Your Last.

Many good tournament players will open any two cards in late position hoping to take down the blinds and antes and add to their stack. If I am sitting behind them and I know them to be doing this, I will re-shove all-in over their initial raise. Deep in tournaments, you are usually sitting with 10-25 big blinds which is the perfect stack size to make this aggressive move. Your opponents will be forced to fold their mediocre holdings and you pick up their initial raise along with the blinds and antes barring an opponent behind you waking up with a big hand which wont happen as often as you think.

Picking good spots to take calculated risks to add to your stack is absolutely essential if you want to win big tournaments. You simply cannot sit back and wait for aces if you want to win. You might min cash with this strategy, but who cares? If you spend $100 on a tournament to just win $250 for a min cash you are leaving a lot of value on the table. You should be shooting for the first prize which could be in the $10,000s.

One big tournament win can change your life financially.

Why would you settle for less than first place?

One O’Clock Lock

Money In The Bank

Among my many vices, I like the rush of a good NFL bet. I have done well this season by focusing on one game I love rather than trying to hit it big on the parlays. With that being said, so you know I put my money where my mouth is, I am letting my entire season’s winnings ride on the Saints today, laying 8 in Minnesota, who sports the 27th best (or 5th worst) passing defense in the league.

Disclaimer: Money may not, in fact, be in the bank.