~ B A N K R O L L M A N A G E M E N T ~
Managing Your Bankroll
Throughout your poker experiences it's always a wise choice to keep track of your stats. You might think of this just in terms of how you're playing at the tables. For example, how many flops am I seeing? What percentage of showdowns do I win? What hands am I getting the most value out of? These are vital indicators that will tell you how good or bad you're playing, and what the specific leaks in your game may be. When it comes to bankroll management, keeping track of the ups and downs of your actual finances is just as important, if not more. More specifically, how you fair in the long run playing certain poker variations will tell you whether or not you're profiting from different games and to what extent, giving you an indication of what your strong points are. For instance, after a few months of steady playing you may be seeing a lot of gains in no-limit multi-table tournaments, while having no such luck at the limit ring game tables. Using this information you could take a step back and decide which direction you want to go in with your poker time, devoting more hours to no limit tournaments or possibly choosing to revamp your limit game and fix some leaks there. Regardless of how you use your bankroll management stats, having this information on record is vital in analyzing a variety of your game's components.
So what information in general should you be keeping track of? Well at the least you'll want to record each cash game session and each tournament you play in, jotting down the ins and outs of each. For cash games you'll definitely want your buy-in and cash-out amounts, as well as any stats that you might be able to track during the game, such as hands and/or hours played. This will allow you to calculate how much you're making per hour or per a certain number of hands in relation to the limit of the games you're playing. For tournaments you'll definitely want to keep track of how much you're spending on buy-ins (and fees) as well as how much you are cashing out. Keeping track on each individual tournament will also tell you the percentage of time you cash in a tournament (ITM for In-The-Money) and your return on investment (ROI). Simple math will tell you approximately how much you're making per tournament, and hopefully this number will be positive.
Essential bankroll tracking statistics:
~ General Game Info - record the poker variation, limits (buy-in, small bet/big bet, etc.), and if you'd like, when and where you played.
~ Input / Output - record how much you invested (bought in) and how much you returned (cashed out).
~ Net Profit - using the Input and Output variables you can calculate your net gain (+) or loss (-).
~ Total Bankroll - with each session, track the current amount of your bankroll following any gains or losses.
| Sample Bankroll Records |
| Session |
In |
Out |
Net |
Total |
| NLHE SNG |
$11 |
$0 |
-$11 |
$989 |
| NLHE $1/2 |
$100 |
$125 |
+$25 |
$1014 |
| NLHE MTT |
$11 |
$50 |
+$39 |
$1053 |
| NLHE $1/2 |
$100 |
$70 |
-$30 |
$1023 |
|
Calculating Bankroll Stats:
ITM%: (# of Cashes / # of Tournaments Played)
ROI: (Net / Input * 100)
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Obviously there are a number of other details that you could record, such as the date, time, number of entries, payout structure, how you finished, etc. Whatever information you will want to have available at a later time so that you can better analyze your play, that's what you want to keep track of. As for the "how" of managing your bankroll, there are a number of options, from the simple and straightforward to the meticulous methods with all the bells and whistles. A lot of players prefer just setting up their own spreadsheet in Microsoft Excel or a similar program, while you can also use Access if you're proficient enough with the software. If you're in the market for a specialized poker program that'll throw more stats and information at you then you'll know what to do with, you may want to invest in one of the many types of bankroll management software. You may feel overwhelmed by all the features that some of these programs offer, and your game itself may be altered when you find some of the advantageous (and controversial) add-ons that some of these programs allow you to employ at the table. Either way though, as long as you're keeping track of the basic ups and downs of your bankroll, you will have useful information that will guide you in your poker journey.
~ Next: Managing A Split Bankroll
~ Previous: Moving Up In Limits
~ Summary: Bankroll Management Overview
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