Bankroll Management Tips
Just like a painter needs a brush and paint to paint a masterpiece, poker players need to have their own toolbox full of skills as well. Bankroll management is a necessary skill for any rising poker star. These bankroll building tips are designed to help you play focused low risk poker.
We have come up with a list of the top five bankroll building tips. If you follow these basic tips you should be able to manage your bankroll with ease.
Top Five Bankroll Management Tips
1. Play Within Your Bankroll
If you sit down at a cash game with 50% of your total poker bankroll, you are putting much more stress on your performance than if you instead sit down with 5% of your total bankroll. The same holds true for SNGs and MTTs. Play within the limitations your bankroll allows. Use the following rules of thumb to smoothly build your bankroll.
Cash Games and SNGs – Don’t sit down in a particular game unless you have at least 20 buyins in that game to start with. If you lose 5 buyins, move down to the limit below. If you win 20 buyins, move up to the next limit.
Multi-Table Tournaments – Don’t register for an MTT unless you have approximately 50 times the entry fee in your poker account. You can adjust this number lower or higher based on the size of the tournaments you typically play in. You don’t need as many buyins if the MTTs you usually play in have 200 or fewer players.
2. Multi-table Conservatively
Multi-tabling can drastically increase your win rate if you are a skilled and competent player. However, it can also decrease your win rate if you are susceptible to tilting, or if you are easily distracted. The best way to handle this is to add tables one at a time making sure that you’re comfortable playing 3 tables simultaneously before playing 4.
Additionally, many players play better when they play one or two tables fewer than their maximum. This allows them to better focus on the action at the tables, and reduces the chance that they miss out on an important piece of information. Playing one or two fewer tables also allows you to play a lower stress game allowing longer for more pleasant poker sessions.
3. Don’t Play When On Tilt
Learn to recognize signs of tilt and train yourself to take a break as soon as you go on tilt. If you find that it no longer hurts when you lose a hand, you have exceeded your threshold of pain for the current session, and you may be at risk of going on tilt.
If you have taken a couple of bad beats, it is important that you take a moment to evaluate your play and make sure that you aren’t making mistakes or playing too quickly. If you are beginning to tilt, then you should consider taking 15 to 20 minutes off to cool down and refocus.
4. Play during Peak Hours
When you sit down to play poker, make sure that you are playing at the same time that all of the fish are playing. The best time to play poker is in the afternoon when people are getting off of work, and on weekends. The easiest money to be made is when the casual players are out in force.
Casual players are playing for fun and are less concerned with what you might have than they are with their own cards. Casual players are much less likely to fold. An observant player can milk the weekend players for large sums of money!
5. Take Advantage of the Bonus Money
You want to make sure that you are depositing as much as possible when you sign up for a poker room so that you can take full advantage your sign-up bonus. The extra bonus dollars go a long way towards padding your bankroll and helping you earn a few extra dollars while you feel out the competition.
Other Articles You Might Be Interested in…
Top 5 Tips for Dealing with Tilt – Learn to recognize and defeat tilt before it starts!
Top 5 Cash Game Tips – Conquer cash games with proper hand selection, pattern recognition, and mindfulness!