Beginner’s Guide to Basic Bankroll Management

Being a good poker player does not mean that you only need poker skills to make it to the top.  In fact, you will need more than just poker skills to become famous and become just as rich as the popular poker pros.

What you need to have is something very basic, but it will be the foundation of your poker fame and money, and this is bankroll management.

Choosing the Buy-In Fee

If you want to earn money in poker, you have to have discipline.  You should know how to make use of your bankroll successfully, without it disappearing into thin air.

So, if you want to join a tournament, you should choose a buy-in fee that should not exceed 1% of your total bankroll.  This way, you get to protect your bankroll should you lose, and if you do lose, you will not lose all your bankroll as opposed to joining tournaments with a large buy-in fee.

Now, when you feel confident enough in your poker skills as well as in your bankroll management method, then that is the only time that you could try tournaments with larger buy-in fees.

Building Your Bankroll

Let us say that you chose a tournament with a small buy-in fee of $3 and let us say, too, that you have built your meager bankroll from $300 to $3,300, does this mean then that you can jump from an average buy-in fee of $3 to $33 because your bankroll is now $3,300?

No.  In fact, this is where most players go wrong.  Winning big money in one game does not mean that you can jump into the higher limit cash games.  It is advisable that you set aside your winnings and build your bankroll more, so if your starting bankroll was $300, then you need to double it.  Only when you have reached a bankroll worth $1,000 (or more times your starting bankroll) and have gathered a decent score for yourself can you only say that you have gained enough experience to climb up a higher level and participate in larger buy-in fee tournaments.

Remember, if you want to make a living out of playing poker, you should have discipline when it comes to the amounts that you bet and the amounts that you have to set aside to build your bankroll on.  With good bankroll management, in time, you will notice that you are earning money more than you are losing it.

Tagsbankroll, bankroll management, money, playing poker, poker, poker player, tournament

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