Once you’ve decided that you want to treat poker a bit more seriously, and possibly profit a bit from playing poker online in your spare time, it is important to start considering the concept of a bankroll and managing your poker money.
What is a poker bankroll?
A bankroll, to put it simply, is your poker bank account, or the sum of all money that you plan to dedicate to playing poker. This bankroll is very important, because the idea is that it allows you to play poker continually without having to tap into your own bank account to sponsor your play when you are running bad and the poker gods won’t let you catch a break.
If you find that you are constantly taking money out of your bank account and putting it into your poker account then you are either just having fun (and that’s ok :), still learning how to play poker, or just don’t know how to manage your poker bankroll.
Once you decided that you want to honor the bankroll idea, you have to understand that you must only move up or down in blind levels once your bankroll allows it and never move up to a higher poker level before.
How to create a poker bankroll
There are some considerations in coming up with the amount you want to set as your poker bankroll. Before deciding on your poker bankroll you should first understand:
- What your win rate at your current level is
- How much are you affected by money shifts (we call this risk aversion)
The better your win rate is the less money you’ll need to sustain yourself in the event of something bad happening at the table, it is generally good to have at the very minimum 20 times the buy in for the limit you intend to play. So if you play .02/.05 and the buy in for the table is 5 euro, then it would be a good idea to have at least 100 euro in your account for that rainy day when your KK meets AA 5 times in an hour.
Some players (like your author), are more affected by losses, can even set a 100 buy in bankroll because when you have a 100 buy ins available you can really play freely and without a care in the world!