One of the questions asked most often by beginning players is: "I have X amount of money, what level should I be playing?". The answer to this question varies, depending on what your poker goals are. If you like playing just for fun and put a poker deposit into your account every couple weeks, just for fun, then play whatever you want. However, if you'd like to drastically improve your game and don't want to keep losing money, then bankroll management is not only important, it is vital.
Below you will find some good as gold bankroll management tips that will help you along your way:
Cash Games
It's important to have about 20 buy-ins for whatever level you'd like to play. A buy-in is considered 100 big blinds. For example, at the .02/.05 NL level you should have at least $100 (20 x $5). With a bankroll of $50 the level you should be at is .01/.02 until you get to one hundred dollars, then you're allowed to play at level .02/.05. When you're attempting to play at a higher level, don't be ashamed to drop down a level if it proves too difficult. Here is an example: You just made it to .02/.05 with your $100 bankroll. If you're on a stretch of bad luck and the poker hands you're getting just aren't helping, it's imperative to move back down to .01/.02 if you drop to 15 buy-ins ($75). When you get back up to $100, start playing higher again. I don't know anyone who has played the game long enough that did not have to drop in levels. People go broke simply because they were too bull headed to move down. Most people will slide back and forth between almost every new level they try until they get used to the play at the next level.
When you move up to levels of about 100nl and up, it would be a good idea to be more careful with your bankroll and probably a minimum of 30 buy-ins would be more safe.
Sit & Go Tournaments (SNGs)
Tournaments most likely are going to have higher variance than cash games. As a result, it is ideal to have a larger bankroll to absorb the swings. I would recommend 40 buy-ins for Sit & Go tournaments. With a $100 bankroll, you should be playing something like a $2.20 buy-in until you get up to about $130. Once you're up to a $130 bankroll you can play $3 games and test the waters. Like with cash games, don't be too proud to move back down if you are not running well.
Multi-Table Tournaments (MTTs)
Multi-Table Tournaments can be tempting since they offer some fantastic payouts if you finish well. However, the variance is very high with MTTs and it's not uncommon to play long stretches without making any money. As a result, it is standard to have at least 100 buy-ins to play Multi-Table Tournaments. Remember if playing re-buys that you should plan on at least 1 re-buy and 1 add-on into the cost of the tournament. Likely it will cost you even more than that so be careful. For instance, in order to play a $3 re-buy MTT you should be prepared to spend a minimum of $9 and therefore you should have at least $900 available in your bankroll.
Here's some information for people on a very small bankroll wishing to give MTTs a shot: don't forget about satellites. They usually have very small buy-ins and the play is often quite poor, so this can be a good way to gain experience and possibly win a ticket worth a good portion of your bankroll. If you happen to win a satellite it might be tempting to take a shot at a bigger tourney. Recognize this temptation! Instead, take the tournament money and grind out more games within your bankroll.
A Great Way to Help the Bankroll
The most effective way of increasing your bankroll is, of course, to play many poker hands. A fantastic method of padding the bankroll along the way, though, is by collecting bonuses at the sites you play. An extremely popular bonus is the no deposit poker bonus that some sites feature. This is a risk free method of starting off the bankroll if you’re just starting to play poker or to help a small bankroll if you’re playing micro stakes. If you reside in the United States, you’ll definitely be interested in knowing about US friendly poker sites. The most respected of these sites are PokerStars and Full Tilt Poker. The biggest PokerStars bonus is the first deposit bonus of 100% up to $600 if you use the PokerStars marketing code. They also frequently offer reload bonuses and freeroll tournaments. If you’d rather check out the Full Tilt Poker bonus, their deposit bonus is the same with a Full Tilt bonus code : 100% bonus up to $600. Full Tilt features $800 in monthly tournaments.
Final Thoughts on Bankroll Management
The temptation always exists to play higher levels than your bankroll will allow. Stick to the plan and you shouldn't have to worry about depositing money ever again! Don't pay any attention to what levels other people are playing or what other people think of the game your're playing. Just play whatever your bankroll allows, or watch your money dwindle. Staying safe and being cautious is key. It's all about risk management. However, if you have a very generous bankroll and are just afraid to move up, you need to bite the bullet and start climbing. So take some shots when the time is right, and don't be afraid to climb up and down. Sooner or later you'll be a regular at the mid-stakes games with a hefty bankroll.
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