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– Low, Medium, or High Stakes –
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No matter the subject, Elite Poker University is home to quick, impactful lessons that will improve your skills and make you a better, more profitable poker player!
^^^ That’s my impression of you when you see the topic of today’s lesson. ^^^
I don’t blame you. I know this isn’t an exciting subject. That doesn’t mean, however, that it isn’t important.
Bankroll management is the difference between poker — or any wagering-related activity, really — being an expensive habit and being a profitable hobby. It’s the difference between your significant other’s resentment building because of all the time you’re “wasting” and your significant other’s desire building because of how ambitious and industrious you are.
Why is Bankroll Management Important?
Despite what DraftKings commercials, Twitter screenshots, and Matt Damon movies would have you believe, the margins in any wagering-related activity are insanely small. You simply cannot depend on all of the time/money you spend studying, learning, and subscribing to services like Elite Sports Betting leading to some huge, life-changing payday. Even the best of the best can go years between significant payoffs, and sometimes those payoffs never come — not because those players aren’t skilled enough or deserving, but because they aren’t even looking for those big payoffs, their sound bankroll management practice simply doesn’t put them in situations where they can win (or lose) huge amounts in one day.
A great DFS player or sports bettor is capable of sustaining a 5-9% ROI over the long term. Luckily, in poker the rake is much smaller and the skill difference between great players and average ones is much larger, so a great poker player is capable of sustaining an ROI somewhere between 10-20%. Pay heed to what I just said. I’m not exaggerating, nor trying to discourage you, but I want you to take a moment and consider those numbers, because they are not wrong. For every 100 hands a great online poker player plays (in cash games), they can expect a profit of 3-8 big blinds. For every $1 a great online poker player pays in tournament entry fees, they can expect a profit of .10-.20$.
Hopefully, the numbers above are helping you see the importance of bankroll management. If even the best players in the world are walking such a thin line between profitability and ruin, can you imagine how much danger an average to above-average player is in? For them (and you), just a few poor bankroll decisions — ones that move the needle 1-2% in the wrong direction — are absolutely the difference between breaking even and having a very expensive habit.
Bankroll Management Guidelines
Everyone’s situation is different. We’re all playing poker — or playing DFS, or sports betting — for different reasons, and we all have different goals. Keep this in mind when considering the following guidelines for your online poker bankroll:
|NL Cash||20-50 max buy-ins||Closer to 20 if you play tighter/more conservative, if you’re playing for fun and don’t mind losing, or if you’re only playing at tables with 8+ players.|
Closer to 50 if you’re a looser/more aggressive player, if you’re trying to play more seriously and generate an income, or if you’re regularly playing at tables with 7 or fewer players.
|Limit Cash||200-600 big bets||Big bets, not big blinds. In a $1/$2 limit game, the blinds are $.50 and $1, and a big bet is $2.|
Closer to 200 if you play tighter/more conservative, if you’re playing for fun and don’t mind losing, or if you’re only playing at tables with 8+ players.
Closer to 600 if you’re a looser/more aggressive player, if you’re trying to play more seriously and generate an income, or if you’re regularly playing at tables with 7 or fewer players.
|Multi-Table Tournaments (MTT)||50-100 buy-ins||Closer to 50 if you play tighter/more conservative or if you’re playing for fun and don’t mind losing.|
Closer to 100 if you’re a looser/more aggressive player or if you’re trying to play more seriously and generate an income.
|Sit ‘n’ Gos||30-60 buy-ins||Closer to 30 if you play tighter/more conservative or if you’re playing for fun and don’t mind losing.|
Closer to 60 if you’re a looser/more aggressive player or if you’re trying to play more seriously and generate an income.
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