~ B A N K R O L L M A N A G E M E N T ~
What Is A Bankroll?
The better question actually is what should a bankroll be? Ideally your bankroll is going to come from available funds that are completely negligible, money that you don't particularly need. Your bankroll should be entirely separate from rent money, food money, savings, general cash on hand, etc. Its purpose is for poker and for poker only.
General suggestions and guidelines for creating an initial bankroll:
~ Use funds that would otherwise be spent recreationally or for unnecessary goods and services.
~ Do not use funds that are needed, or that may be needed in the future, for primary living expenses.
~ Choose an amount that you are comfortable with losing entirely.
~ Choose an amount that will enable you to play in games at a level you are comfortable with, and that are also available to you.
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Ideally your bankroll should also never be depleted to a state of bankruptcy, which would force you to reload your funds and pool extra money from other sources. Initial bankrolls should be built to handle even the worst string of cold cards and bad beats, accounting for the variance of a game that can be brutal at times. The limits and buy-ins of the games that you are playing also come into account here, and should be positively correlated with the size of your bankroll. Notice though which factor affects the other - as your bankroll increases, so does the level of game you can play. Thinking the other way around - that the higher the limits you play, the faster your bankroll will grow - is a fallacious and risky mentality to have. Playing poker reasonably and rationally, in terms of both bankroll management and actual poker strategies, will allow you to reduce the degree of luck involved and overcome any major downswings.
General suggestions and guidelines for matching your bankroll with the games you play:
~ In general, begin at a level you are comfortable and confident at. Just because you have an extra $5 million laying around doesn't mean you should jump right in with the pros.
~ Play at or below your appropriate limits (see table below), never above.
~ Don't be too proud to drop down in limits if your bankroll takes a big hit, and also don't be afraid of moving up to the next level if you have the bankroll to do so.
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Whether you're just getting into poker, you're reloading yet again in another hopeful attempt at learning the game, or you're already managing a steady and healthy bankroll, you should now have a better understanding of basic bankroll management strategies.
~ Next: Playing Within Your Limits
~ Summary: Bankroll Management Overview
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