Bankroll Management Tips
Players serious about low stakes poker games ideally hope to build a bankroll in order to move up to the mid- to high-stakes levels. There are a few ways to go about doing this so as to keep your risk of ruin as low as possible.
Let’s say you decide to start playing $.25-$.50 no-limit games. Those tables typically have a maximum buy-in of $50. Now, if your starting bankroll was just $200, the odds of you going broke are incredibly high. After all, anyone, no matter how skilled they are, can go on a four buy-in downswing at that level.
It is advisable to have at least 20 buy-ins for the game you are playing. So if you wanted to start with $.25-$.50 no-limit, it would be smart to have a $1,000 bankroll to begin with. Even with 20 buy-ins, your risk of ruin is still noteworthy. It is not unheard of for more cautious players to utilize a bankroll of about 50 buy-ins. You have to determine what works best for you.
The idea is to play at a level that strikes the perfect balance between being comfortable, but also being challenging enough to take seriously. Play too high and you’ll be too worried about the money at stake to make optimal decisions. Too low and you’ll play carelessly since you do not respect the stakes at hand.
There are dozens of bankroll management guides and tips. Many of them preach a strict schedule of when to move up and down. But remember, poker is just a game and ultimately you have to enjoy what you’re doing at least a little. Don’t let yourself be brainwashed by nitty bankroll management guidelines.
If you are beating $.25-$.50 and have increased your bankroll to 30 buy-ins, take a shot at a $.50-$1 game. It doesn’t have to be an all-or-nothing proposition. Decrease the number of your $.25-$.50 tables by one and substitute it with a $.50-$1 game. As you become more and more comfortable with the higher stakes and your bankroll grows larger and larger, you can gradually move your way up the ladder in a staggered fashion. Don’t get too stressed out about it or worry too much about following strict guidelines. Do what seems natural and sensible and you’ll be alright.
One of the biggest hurdles to overcome as a poker player is having the discipline to move back down. Players usually feel a sense of “conquering” a buy-in level such that they cannot fathom having to drop back down to that level to prove themselves once more. However, this is a common part of the game and something that all successful players have had to do at one time or another. If you want to be the best, you have to play and think like the best. That means knowing when to put your tail between your legs and go back to work on improving your fundamentals at the smaller stakes.