Scribd
Upload
445 views3 pages

34 Bankroll Management

This document discusses bankroll management for professional poker players. It emphasizes that no matter how skilled a player is, having an insufficient bankroll to withstand the natural variance in poker results can lead to going broke over time. It recommends having a bankroll that can cover at least 20 buy-ins for cash games to reduce the risk of ruin. Players should track their results with metrics like win rates and hourly earnings to evaluate their performance over time and know when it may be safe to move up in stakes. Cash games are suggested as a more stable income source than tournaments due to lower variance. Proper bankroll management is key to long-term success as a professional poker player.

Uploaded by

Ahnaf Ahad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
445 views3 pages

34 Bankroll Management

This document discusses bankroll management for professional poker players. It emphasizes that no matter how skilled a player is, having an insufficient bankroll to withstand the natural variance in poker results can lead to going broke over time. It recommends having a bankroll that can cover at least 20 buy-ins for cash games to reduce the risk of ruin. Players should track their results with metrics like win rates and hourly earnings to evaluate their performance over time and know when it may be safe to move up in stakes. Cash games are suggested as a more stable income source than tournaments due to lower variance. Proper bankroll management is key to long-term success as a professional poker player.

Uploaded by

Ahnaf Ahad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

CHAPTER THIRTY-FOUR

BANKROLL MANAGEMENT

No matter how good you“ are, there will be deviation


in terms of luck . . . and if you don’t have enough re-
sources to fade those streaks of good and bad luck, no
matter how good you are, you will go broke.
“

MASTE RCL ASS


CHAPTER THIRTY-FOUR

bankroll management

SUBCHAPTERS

• PREPARE FOR VARIANCE • KNOW WHEN TO MOVE UP OR • USE CASH GAMES AS YOUR
DOWN IN STAKES ANCHOR
• THE 20 BUY-IN RULE
• ESTABLISH A METRIC FOR
• RISK OF RUIN TRACKING WIN RATES

TERMS

winning player (n.):


Any profitable player.

CHAPTER REVIEW

f there’s a constant in poker, it’s variance. So Just because you have a large bankroll, doesn’t mean
I having a bankroll large enough to withstand the game’s
natural variance is crucial to success as a professional
you should move up in stakes. You can take shots and
move back down again if your results are poor. Often
poker player. You must prepare for periods of a few this process is repeated many times before you move up
months in which you make no money and reduce your permanently.
life expenses to minimize pressure. It doesn’t matter how
good you are—if your bankroll is too small, you will go It is important to track your results accurately. Venue,
broke. For live cash games, you need a bankroll that will game type, and hours are typical metrics you should
cover at least 20 buy-ins. The smaller your skill edge, the record. For online play, you can utilize database software,
larger your bankroll needs to be. which calculates your hourly rate and overall win rate.
Live players should always keep track of their hourly
Your risk-of-ruin percentage depends upon the size of your rate. Cash games should be your anchor when it comes
bankroll and your skill level. To decrease your level of to regular income. Tournaments exhibit much more
risk, you can play with a larger bankroll. The better player extreme variance and cannot be relied upon as a source
you are, the lower the risk of ruin. It goes without saying of income for live players. Cash games will allow you to
that this only applies to winning players. No bankroll is steadily increase your bankroll in a safe way.
big enough for a losing player.

113
MASTERCLASS
CHAPTER THIRTY-FOUR / BANKROLL MANAGEMENT / DANIEL NEGREANU

UP YOUR GAME

Read “An Introduction to Bankroll Management” When you have a big enough bankroll to move up in
and “How to Manage Your Poker Bankroll” from cash game stakes, take a five buy-in shot, and move down
Pokernews.com. Both offer additional information about again if it doesn’t work. Taking regular shots is the best
managing your bankroll. way to move up the stakes ladder. You will also learn more
by playing against better players at higher stakes.
Daniel has gone to great lengths to warn you about the
variance in poker tournaments. Examine this analysis
and this follow-up to get a clearer understanding of what
can be expected.

114
MASTERCLASS

You might also like