The following principle is key to becoming a successful poker player. Without the proper money management skills, the best players in the world would go broke. For all you skim-readers, here are the basic rules of bankroll management for Texas Hold-em
• 40 buy-ins for NL Hold-'em.
• 300 Big Blinds for Limit Hold-'em.
• 40 buy-ins for SnG Tournaments.
Bankroll management is where you play at certain limits to avoid losing all of your bankroll due to bad runs of cards, which any poker player must expect from time to time. This is called ‘playing within your bankroll’. Subsequently, if you play at higher limits where there is too great a chance of losing all of your poker money, you are ‘playing out of your bankroll’.
The reason why you should choose your limits carefully in poker is due to the variance. Variance is a term used to describe the ‘ups and downs’ of poker where you fluctuate from having bad runs of cards to good runs of cards, resulting in varying profits and losses. If you play poker for long enough there are going to be periods of time where you will consistently lose money, not because you are playing badly, but because the cards are not falling your way. This means that if you do not have enough money in your bankroll to absorb these downswings, it is likely that you will lose it all.
Therefore every time we sit down at the poker table, whether it be live or online, we want to give ourselves the best opportunity to win a maximum amount of profit whilst keeping the risk of going broke minimal. This is where the rules of bankroll management come into play.
So what limits should I be playing at?
• Cash Games
If you are playing Pot Limit or No Limit poker, the safe recommended size of your bankroll is 20 times the full buy-in of where you want to play. This means that if you want to have the best chance of making money at a $1/$2 game where the maximum buy-in is $200, you should have a bankroll of at least $4000. Another way of applying bankroll management is by only putting a maximum 5% of your entire bankroll on the table at any one time, which works out the same as having 20 times the buy-in for the game.
If you like to play limit Hold-em however, you should have 300 Big Bets as a minimum for the limit you wish to play at. Therefore to play $1/$2 limit Hold-em, you should have a bankroll of $600 at least.
• Tournament Games
It is recommended that you have a bankroll that will give you 40 buy-ins to the level of tournaments that you wish to play at. Therefore if you want to play at the $10+$1 Sit n Go’s you should have a bankroll of $440.
NL Hold-em Limit Hold-em SnG's
Blinds Bankroll Blinds Bankroll Stakes Bankroll
5c/10c $200 5c/10c $30 $1+$0.1 $44
10c/20c $400 10c/20c $60 $2+$0.2 $88
25c/50c $1k 25c/50c $150 $5+$0.5 $220
$0.5/$1 $2k $0.5/$1 $300 $10+$1 $440
$1/$2 $4k $1/$2 $600 $20+$2 $880
$2/$4 $8k $2/$4 $1.2k $30+$3 $1,320
$5/$10 $20k $5/$10 $3k $50+$5 $2.2k
$10$/20$40k $10$/20 $6k $100+$10 $4.4k
$25/$50 $100k $25/$50 $15k $200+$20 $8.8k
$50/$100 $200k $50/$100 $30k $500+$50 $22k
The guidelines noted above are very general rules that should give you the best opportunity to make money from playing Texas hold-em poker without going broke. However there are going to be some exceptions and alterations depending on how and where you play.
Bankroll management for pro players.
If you intend on taking poker up as your main source of income, the bankroll you would require will be substantially larger than 20 full buy-ins for cash, or 40 buy-ins for tournaments. This is because your living expenses will constantly be taken out of your bankroll and so it has to have the ability to withstand both variance along with the living expenses.
If you are constantly dipping into your bankroll to pay for bills and groceries, you may find that you may sometimes not be properly rolled for the limits you are playing at. Furthermore, there may well be times of emergency when you will need to take a big chunk out of your roll, and you should always be prepared for these situations.
Bankroll management at short-handed tables.
If you play at shorthanded tables there, you may notice that there is greater variance than at full ring games. The fact that you will be involved in a greater number of pots per orbit and playing against your opponent's weaknesses more than to your cards strengths will result in greater fluctuations in wins and losses over short periods of time. This means that you may consider slightly increasing your bankroll up a few buy-ins if you want to withstand the variance of these games.
Style of play and variance.
The style of your play can also determine what limits you should play in relation to the size of your bankroll. If you are a tight player then you should expect to receive a slightly reduced variance to that of a loose player, therefore you may be able to afford to reduce the amount of buy-ins in your bankroll.
This is because tight players will often only enter pots with strong hands and regularly go to showdowns with winnings hands, thus reducing the chances of seeing big losses. Consequently, if you are a loose player and play a large number of pots, you may want to increase the size of your bankroll to absorb the extra variance you may receive.
Absorbing losses and moving on.
A second reason for why you should exercise good bankroll management skills is to help you deal with the psychological impact that losses can have on your game. If you have a bankroll of 10 full buy-ins for a cash game at the $200 NL game and lose 4 buy ins, your bankroll would deplete from $2000 to $1200. Because of your small initial bankroll this looks like a big loss and may cause you to tighten up your game and play ‘scared poker’, because you are afraid to lose more money.
Now if you had 20 full buy-ins for the $1/$2 game, your bankroll would change from $4000 to $3200. Immediately you can see that visually this does not look as bad as the loss in the first instance. Therefore you will feel more comfortable that you have the ability to win back the lost money without feeling the need to change your game.
Moving levels and taking shots.
As already mentioned above, there will be times when you have bad runs of cards and good runs of cards. This means that at certain times your bankroll will be too small or too big for the limits you are playing at. Therefore if your bankroll drops below 20 full buy-ins, then you should also drop down a level so that you are playing within your bankroll until you have built it back up enough to play at the next level. In addition, if your bankroll is big enough to handle the next limit up, then it makes sense to move up to that limit if you feel you can beat it. Just be sure to drop back down to the lower limit if you experience significant losses.
At some points in your poker career you may fancy moving up a level just to test it out and to see how well you do. This is called ‘taking a shot’. There is no harm in trying this as long as you stick to good bankroll management for most of the time you play poker.
Be careful not to get carried away by big wins at the higher level because your bankroll may still be too small to support continued play there. A useful tactic that you can use when ‘taking a shot’ is to not buy in for the full amount at the next level up. This way you will not be risking too much of your bankroll in any one game and you are essentially still playing within your bankroll if you do not put more than 5% of it on the table.
If you intend to make money from playing poker, it is essential that you exercise good bankroll management skills. If you do not then you are setting yourself up for frequent losses that you will find hard to prevent, no matter how good you may be at poker. Once again, the safe bankroll requirements to remember are:
NL Hold-em Cash:
Limit Hold-em Cash:
300 Big Bets
It should be noted that if you are a losing poker player, bankroll management is not going to help you win money. The guidelines mentioned above will only apply if you know that you are a winning poker player in the long run.
Posted by Wheelman1 on 2009-04-11 09:03:40
Hello and welcome to a new year of poker!
The "Jokers Club" will now be running cash games almost every other weekend all summer long! Starting Sat. 4/18/09 @7:00p!!
Because of the economy we will no longer run tournament events for points.
We would like all of you to make the games that is why the low buy-in and low blinds. Basically we want to all stay on our "A" game. So keep them cards flying and come join the fun!
Also we will start a new game to help with action...
Come check it out so you to know what a "kill blind" is
and remember to bring some dead money with you!
Posted by Wheelman1 on 2009-04-05 14:36:20
profit or Bust?
Poker really is a hard way to make an easy living!
Know Your Charity Tournament Structure?
In a poker tournament, blinds go up gradually. Blinds usually go up after pre-determined periods of time. :example every 20 or 30 minutes. This is to ensure that the tournament finishes on a timely manner and we find a great player or a lucky one. The higher the blinds get the more dead money players tend to get eliminated.
Fact less than 25% of players will win over the course of their lifetime. Fact 85% of all players think they our a good one! Win streaks while definitely a reality only occur in a hind-sight they cannot be predicted and therefore cannot be used to your advantage. Many players think they can get in when they our hot and not play when they our not! Some think that is good money management; it isn't. Good money management means: finding the game with the highest win rate that you can afford to play & playing it!
In the end every player will win exactly what they deserve to regardless of their futile attempts to alter the fluctuations of the game. Why play in a tournament? Why play football? Do you think this team is luckier than that team? Or a better team? Same goes in poker. Why play if its just luck?
Calculate Blind Structure Tips
Two main factors determine Playable blind structure of the game:
1. Starting chip amount. (how many chips)
2. How long the tournament is or will last.
• Starting Chip Count The first big blind should be 1/50 of the starting chip amount. (or the starting chip amount should be 50 times the starting big blind). So if everyone starts with 1000 in chips the first big blind should be 10/20. Blinds typically double after each round. If the first big blind is 10/20, the next one should be 20/40.
• Blind period is the time each blind lasts long or short:
• Typical Live tournament blind periods are 20, 30, 60 or 120 minutes.
• Blinds period should be the same for every blind.
• The faster the blind period the faster the tournament ends and the more luck is involved. Depend on the rabbits foot if you like, but remember it did not work for the rabbit! So it's a good idea to have slightly longer blind periods at a tournament. This is to reflect the fact not all players are of the same level. 20 or 30 minute blind periods are good choices but you still don't want a final table in 4 hours. I find 6-8 hours to be great. Blinds online tend to go up faster. This is because online poker action is much faster than live poker.(4-6 hour tournament, more hands per hour)
Calculate Playable Tournament Structure vs Charity(luck)Poker Tournaments
1. Know your starting chip amount.
2. Divide it by 50. This should be your first big blind.
3. Know your final big blind (when the tournament should finish) should be equal to your starting chip amount.
4. The middle level blinds should gradually increase from your first big blind to the last one. It is best to know before a buy-in.
5. Add the period (times) together. If it seems too long this is great for a good gamble and would or should show a profit within 4 to 5 tournaments.
Posted by Wheelman1 on 2009-04-03 08:55:01