Bankroll Management

2021年5月4日
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Once you’ve set aside a set bankroll amount, you need to determine what percentage of your bankroll you will wager on any one event. For beginner bettors, we recommend that you keep the size of your bets consistent: Select a unit size somewhere between 1-5%. Conservative sports bettors should bet 1-2% of their bankroll per single bet. The bankroll: It’s a fundamental part of gambling, yet many of us aren’t quite sure how to manage it. Can you beat the casino with a bit of smarts and a bankroll? In terms of blackjack, yes. Did you know that blackjack is one of a few select games offering a low house edge? Bankroll management is MUCH more important than skill. Skill cannot overcome lack of bankroll management. The rules are pretty simple. For CASH games, you need AT LEAST 30 NLHE buy-ins (one buy-in is 100bb) of cash in the bank or your account to play. For SNG tournaments, you need 50 buy-ins. For MTT tournaments, you need 100 buy-ins. The bottom line – make sure that managing your bankroll is one of the first things you learn how to do. “Poker is a lifelong game where self-control, bankroll management, game and table selection, and other skills are all more important than the actual card-playing.”. Bankroll management can be broken down into three stages. The first stage requires us to set a budget for how much money we’re prepared to risk losing, and then allocate that sum of money to be used solely for the purposes of betting on sports.PokerNews Staff
We’ve covered a variety of topics in this series on multi-table tournament strategy (MTTs), starting with a discussion of tournament structures, the importance of stack sizes, and chip accumulation vs. survival strategies, then moving through the early, middle, and late stages of MTTs and onward to the final table.
To conclude the series, let’s talk a little about bankroll management and tournaments, an area that sometimes trips up even experienced poker players who aren’t as mindful as they should be of how the variance of MTTs should affect what buy-in levels they choose.Tournament bankroll management: Why have a bankroll?
It goes without saying — a ’poker bankroll’ refers to money set aside for poker only, and should not overlap with living expenses or other funds designated for other uses.
Most poker players who are successful over the long term practice strict bankroll management in order (1) to ensure they can play their best at all times (and not be ’scared money’ playing above their heads and worried about losing), and (2) to help lessen their ’risk of ruin’ by avoiding getting involved in games that can threaten to deplete their entire bankroll and force them to quit altogether.
If you’re only a casual poker tournament player, perhaps jumping in MTTs once in a while for fun as a way to break up the monotony of cash games, you needn’t worry too specifically about tournament-specific bankroll management. But you shouldn’t ignore it, either.
The only real bankroll concern the casual MTTer should have is not to play a tournament for which the buy-in is so high it will disturb your ability to play without worry of losing what you’ve paid. If you typically play a $1/$2 no-limit hold’em cash game where you might win or lose as much as a few hundred in a night, playing a $5,000 NLHE tournament is probably a bad idea, both because of the higher level of competition you’re likely to encounter and the possibility that your fears of not cashing and losing that big buy-in will negatively affect your play.
Some pros suggest cash game players should never risk more than around 1/20th of their cash game bankroll when playing a tournament. In other words, if you have $5,000 set aside as your cash game bankroll, you really should limit yourself to playing tournaments with buy-ins of $250 and below. If you wish to play a higher buy-in tournament, you can consider selling action in order to lessen your risk.
You can adjust that 1/20th figure up or down depending on your own risk tolerance, but be cautious about risking too much on a single ’shot’ at a high buy-in MTT. Only 10-15% of those playing tournaments tend to cash, and even if you’re an above-average player in the field your chance of not cashing is going to be greater than your chance of making the money at all, let alone enjoying a big score.
For players who are more serious about playing tournaments — especially if you’ve chosen to specialize in MTTs to the exclusion of cash — you need to think specifically about your tournament bankroll and always be mindful of how a given tournament fits or doesn’t fit into the requirements you’ve provided for yourself.Tournament bankroll management: How is it different from cash games?
Cash game players set bankroll requirements based both on the stakes of the games they wish to play and game types.
Obviously higher-stakes cash games require a larger bankroll than do lower-stakes ones, but perhaps not so obviously certain game types require deeper bankrolls than others because of the increased variance or ’swings’ they cause.
If you wish to play short-handed (6-max.) or heads-up cash games, you need a deeper bankroll than you would if you stick with full-ring games. Similarly, playing a game like pot-limit Omaha is going to require having a larger bankroll than playing NLHE at the same stakes, since PLO typically tends to cause wider swings.
Similar principles apply to bankroll management for multi-table tournaments. That said, those familiar with managing a cash game bankroll may miscalculate what it takes to maintain a sufficient MTT bankroll.
Someone who regularly plays $1/$2 NLHE cash game for which the typical buy-in is $200 might reasonably think a bankroll consisting of 30 buy-ins or $6,000 is plenty (although more conservative players may opt for an even deeper bankroll).
However for a multi-table tournament player who plays $200 MTTs, a bankroll of $6,000 is not going to be adequate. Given the variance of MTTs, even good players can occasionally go 30 tournaments without a cash, a possibility that is much more likely to occur than for a good cash game player to blow through that many buy-ins.Tournament bankroll management: How many buy-ins do you need?
A typical recommendation for tournament players is to have at least 100 buy-ins in your bankroll for any tournament you play, although it should be said right off that is often a minimum recommendation. Even so, you can see that for a player of $200 MTTs, that means having a $20,000 bankroll at minimum to absorb the swings of MTTs — much higher than the bankroll of a cash game player whose buy-ins are the same $200.
The same advice goes to the online poker player who sticks with $5 multi-table tournaments, for which a $500 bankroll would represent a comfortable minimum. You can take shots at those $10 or $20 tournaments once in a while, but know that in order to move up to those buy-in levels permanently, you’ll need a bigger roll.
Meanwhile, there are several other factors that can push that 100 buy-in suggestion even higher.
For one, if you’re on the cautious side you may want to have at least 200 buy-ins or even as much as 500 buy-ins in your tournament bankroll. Also, if you mainly play large-field MTTs, you’ll also likely want to have more buy-ins given the higher variance of those events when compared to smaller field tournaments.
How you approach tournaments — that is, your playing style — also matters when it comes to MTT bankroll management. While we’ve been recommending ’going for the win’ in this series, many tournament players place a greater emphasis on simply cashing than focusing on trying to make final tables where they can play for real money. Such players tend not to win the big prizes up top, but may overall experience less variance and thus can get away with having smaller bankrolls. This is where many recreational MTTers end up, with bankrolls of 60 buy-ins (or even less) and cashing enough to stay in the game.
The more serious professional tournament players who do play for the win are going to need deeper bankrolls in order to handle those long stretches between final tables when they aren’t cashing at all.Tournament bankroll management: How does your ROI affect bankroll decisions?
Finally, if you keep good records (as you should) you can calculate your win rate in tournaments — commonly referred to as your return on investment or ’ROI’ — and use that figure as another guide helping you decide how deep of a MTT bankroll you should have.
Your tournament ROI is calculated by dividing how much you profit in tournaments (your ’return’) by the amount you spend on buy-ins (your ’investment’). Usually the result is then multiplied by 100 and shown as a percentage:
*(winnings - buy-ins) / buy-ins *100 = ROI%
While it’s somewhat subjective to say what a ’good’ ROI is for MTTs, obviously anything above zero percent marks you as a winning player. Having a 10-15 percent ROI is good, and anything from 25-30 percent ROI and above is going to be better than many MTTers. Meanwhile only the top pros tend to reach and sustain levels higher than those.
Having a relatively small ROI means needing a deeper bankroll so as to ensure you’re able to stay in the game during those dry stretches, while having a consistently high ROI means you can get away with less.
One important word of caution, though — don’t be overly affected by small sample sizes when looking at your tournament ROI. One big tournament win can inordinately skew a player’s ROI, sometimes inspiring false confidence about the sustainability of such a rate.
Don’t let a ROI percentage calculated from just 10 or 20 multi-table tournaments inspire wild adjustments to your MTT bankroll management strategy. In fact, some say you need at least 1,000 results for the sample size to be significant enough to be meaningful, so while you should keep track of your results, understand what they mean when you do.
Also in this series..
Ready to take a seat at the table? Put these multi-table tournament tips into practice at PokerStars.
*Tagstournament strategymulti-table tournamentsno-limit hold’embankroll managementvariance
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The most common question poker newbies ask is about bankroll management:
*How big should my bankroll be?
*How much money should I win before I move up?
*I can hock my mom’s wedding ring – is that enough to go pro?
So, we thought it was time to write up a bankroll management guide.
In all honesty, it should’ve been the first thing we published. Because managing a bankroll is one of the most important skills a poker player can learn – sort of like the life-skill of knowing how to balance a checkbook.
If you don’t learn how to do it, you could end up like one of those deadbeats you hear about on PokerNews.com. Like T.J. Cloutier, who reportedly sold one of his WSOP bracelets on eBay because “he lost more money playing craps that he ever made from playing poker.”
You don’t want to end up like that, do you?
Now, you might say he has a ‘gambling problem.’ And, you’d be right. But part of managing your bankroll is not blowing it after you leave the poker table.“Hard as it is for some people to accept, most of our poker career takes place away from the poker table. If you spend a year building a bankroll, and then blow it one night on the crap table, you are a lousy poker player.”
But we’re getting ahead of ourselves. Let’s learn to crawl before we learn how to walk, yeah?
The question we’re going to answer in this guide is, how large should my poker bankroll be? And the best way to answer that is to figure out what variables and expenses your bankroll will need to cover.
Before we get into this, we want to point something out. It’s not going to matter how much money you have or what your bankroll management is like if you’re a losing player.
Losing players are always going to lose money (even if it’s a slow bleed). The only way to fix this problem is to become a breakeven (or better) player.Your Bankroll Will Depend on These Variables
We’re going to give you a few examples of hard and fast rules for what your bankroll should be. But before we do that, we want to go over all the variables and expenses your bankroll will need to cover.
The games you play have a big role in determining what your bankroll should be. That’s because every game will have variance.
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Variance is simply the ups and downs you experience in poker. It’s perfectly normal – everyone goes through it. But some games will have more variance than others.
For example, if you play fixed limit holdem you’re going to experience far less variance than someone playing no limit holdem. Why? Because when you play fixed limit poker, you can only bet (lose/win) so much per round, whereas with no limit poker, the amount you can win/lose at once varies wildly.
Another example – single table tournaments (STTs) will have less variance than multi-table tournaments (MTTs). You can go weeks, even months without a cash in a MTT, much less a win. But you should be able to cash 40+ percent of the time in a single table tourney (and even the smaller
The point – the more variance you expect to have, the more money you can expect to lose during a downswing – and the larger your bankroll needs to be to cover those downswings.Consider Your Opponents
You need to think about this from a couple angles.
*The better the player you’re up against, the more losing or breakeven sessions you’re going to have. That’s because it’s harder to beat good players. This can lead to large swings – both good and bad. You’ll want to pad your bankroll to handle the bad ones.
*You need to think about your opponent’s playing styles. If you’re constantly up against loose players who like to play big pots, you’re going to have more variance. However, if you play against tighter players you’re going to have less variance.
You also need to consider your own playing style. If you’re a loose player – you like to play lots of hands – then chances are you will win and lose lots of (large) pots. The looser you are, the larger your bankroll should be. The tighter you are, the smaller your bankroll can be.Consider Your Living Situation
Here’s where things can get tricky.
If you play poker to pay your bills, not only will you need to buy your way into games, but you’ll need to pay your bills on a monthly basis, too. Your bankroll needs to be large enough to weather variance so you can continue to play despite constant losses, but also large enough to pay your bills regardless of what happens at the tables.
This isn’t something we can figure out for you. Everyone’s situation will be different. Some people won’t have a permanent home, but instead will have to pay travel expenses. Other people may have a mortgage, car payment, kids – the whole works – to cover.
So, here’s the best advice we can give –
A common piece of advice given to new entrepreneurs or freelances is to have 6 months or more of savings. That way, if something goes wrong – and something always does – you can still pay your bills even if you have no money coming in.
This is great advice for poker players, not only so you don’t lose your home, but so that you can concentrate on playing your ‘A’ game instead of scared money poker.
You also need to think about your poker-related expenses. For example, you need to think about your computer, internet access, coaching fees, forum subscriptions, tracking software, and so on. Basically, you need to include anything that’s poker related, but not what you’d bring to the table.Our Bankroll Suggestions
Okay, we went through all the variables you need to think about when figuring out how large your bankroll should be. So, how much money you keep on hand?
Here’s a good starting point courtesy of PokerNews.com.Game (Online)MinimumMediumCautiousNo-Limit Hold’em (6-max.), cash game30 buy-ins50 buy-ins100 buy-insNo-Limit Hold’em (full ring), cash game254075Pot-Limit Omaha (6-max.), cash game50100150Pot-Limit Omaha (full ring), cash game3050100No-Limit Hold’em, 9-player sit-n-gos3050100No-Limit Hold’em, 45-player sit-n-gos50100150No-Limit Hold’em, 180-player sit-n-gos100200500No-Limit Hold’em, multi-table tournaments100200500No-Limit Hold’em, multi-table tournaments (large field)200400600
They don’t cover every game or variation, obviously. But this gives you a good starting point, and it already accounts for the variance you’ll have playing the larger tournaments.
I suggest choosing the game closest to what you’ll be playing, then use the 50 or 100 buy-in recommendation. The more responsibility you have, and the more variance you expect to have, the more inclined you should be to use the 100 buy-in recommendation. And remember, this is only a starting point. You should definitely increase this depending on your answers to our variables above, as well as your own risk tolerance.
Here are some additional bankroll management tips. These will not only help you build a bankroll, but also help you to avoid busting your bankroll at some point in the future.Have a backup plan
Think about what you’ll do IF you bust your bankroll. Do you know? If you don’t have a plan, you need to create one. It can include borrowing money from a friend, getting a job, or coaching other players. Many pros go broke once or twice while they figure things out. Having a plan will reduce how much time you spend on the rail.
The guidelines above are just that – guidelines. There’s nothing wrong with having a larger bankroll than you think you need. It’ll give you the peace of mind you need to always play your ‘A’ game. It also serves as ‘insurance’ in case something goes wrong, poker-related or not.Drop the ego and drop down if necessary
Whatever guidelines you establish, thos

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