Bankroll management determines poker career longevity. Skilled players go broke from poor bankroll management more often than from weak play.
Defining Bankroll: Your poker bankroll is money specifically allocated for poker, completely separate from living expenses. Never play with rent money, emergency funds, or money you can't afford to lose. This separation enables rational decision-making during downswings.
Cash Game Guidelines: Conservative players should maintain 30-50 buy-ins for their regular stake. Aggressive players or those with additional income sources might use 20-30 buy-ins. Professional players need 100+ buy-ins for career stability.
Tournament Bankroll Requirements: Tournament variance far exceeds cash game variance. Maintain 100+ buy-ins for single-table tournaments, 200+ for multi-table tournaments, and 300+ for large-field events. Top professionals maintain massive bankrolls to handle tournament variance.
Understanding Variance: Even skilled players experience months-long downswings. Variance affects everyone, regardless of skill level. Proper bankroll management ensures you survive these inevitable downswings without going broke.
Moving Up in Stakes: When your bankroll reaches the required level for the next stake, consider shot-taking. If you lose several buy-ins, move back down without ego. Sustainable growth requires patience and discipline.
Moving Down in Stakes: Drop down immediately when your bankroll falls below minimum requirements. Many players' careers end because ego prevents them from dropping stakes. Moving down is smart business, not failure.
Win Rate and Standard Deviation: Track your win rate and standard deviation to calculate bankroll requirements more precisely. Higher variance players need larger bankrolls. Lower variance, conservative players need smaller cushions.
Record Keeping: Maintain detailed records of all sessions, including stakes, hours played, and results. This data reveals true win rates and identifies profitable conditions. Without records, you're gambling, not investing.
Rebuilding After Losing Your Bankroll: If you lose your bankroll, stop playing immediately. Save money from other sources to rebuild, starting at microstakes. Don't compound mistakes by depositing more than you can afford.
Psychological Benefits: Proper bankroll management eliminates fear from your game. Playing within your roll allows optimal decision-making without financial pressure. Scared money rarely wins.
Responsible Gaming: If you're regularly reloading your bankroll or playing stakes you can't afford, you likely have a gambling problem. Seek help from organizations like Gamblers Anonymous or the National Council on Problem Gambling. Poker should be entertainment or a disciplined investment, never desperation.