Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada

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Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada


Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada


Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada


Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada


Not found, error 404, Tips for Managing your Casino Bankroll in 2021 in Canada


Tips for Managing your Casino Bankroll in 2021 in Canada


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5 Tips to Managing Your Casino Bankroll Effectively


Bank Vault Poker Chips and Playing Cards


When it comes to online gambling, just like all gambling, the number one objective is obviously to win!


But you can’t win without risking your hard-earned money.


So how do you know how much to risk and not lose control?


Here are 5 helpful tips to keep you in the game.


5. Set a Budget


This is the first and most important rule. Online gaming should be treated like every other expense in your life. Just like you should never pay more in rent than you can afford, and you should likewise never gamble with more than you can afford either.


Let’s call that the gambling Golden Rule: never gamble with more money than you can afford to lose. How about I repeat that once more for emphasis.


You’re probably thinking, “why would I plan as if I was going to lose? I’m definitely going to win!” And that’s an adorable thought, it really is. Unfortunately, it’s also a total lie.


You heard it here first folks: you’re going to lose. Not always, and if you play the right games, hopefully not in the long run. But you have to play with money that can sustain the losing streaks. Because unfortunately, they’re going to happen.


No matter how awesome a gambler you are, how skilled a player you are, or how many lucky charms you have, everyone hits a losing streak on occasion. And you have to have a bankroll that can sustain those losing streaks.


So set a budget that fits with your lifestyle, and stick with it. If you usually have $200 a month left after the essentials, don’t deposit $300 online. Deposit $50 and look for sites that offer lucrative welcome bonuses. Make that $50 worth as much as possible, and stick with your budget no matter what.


4. Keep Track


It can be ridiculously easy to lose track of gaming expenses. Was that two deposits this month or three? Were there any withdrawals last month? Trying to remember these details off the top of your head might seem easy right away, but these events will very quickly blend together and be indistinguishable.


One of the biggest lies I all tell ourselves is, “I don’t need to write that down, I’ll remember it!”. Newsflash: you won’t remember it.


It’s easy to underemphasize your loses unless you’re staring at them in black and white.


3. Know Your Bet Range


I see it happen online all the time. New players that don’t understand bankroll management tend to risk way too much of their entire stake in a single bet or game. And before they know it, they’ve lost their whole bankroll and are reaching back into the coffers for another deposit.


I don’t want to make that mistake. I want to learn how to be a smart player. And a smart player knows that their maximum wager should always be reflective of the size of their bankroll. Therefore, smart players don’t lose control by making bets that are too big.


A great rule of thumb is to look at the total amount in your bankroll and never wager more than 1% on any single bet or game. Yes, that’s right, 1%. So if you just made your first deposit online and you decided to try playing with $100, you should never be making a bet bigger than $1.


This will ensure you are wagering enough to make a difference in your total should you win, but not so big that it will be a devastating hit to your total should you lose. You don’t want to blow your entire stake on just a few bets, only to catch an unlucky streak and go broke.


It’s important to pace yourself and set yourself up for wins over time. And you can’t win if you run out of money!


2. Leave Emotion at the Door


When you’re winning in a casino, it’s typical to experience a spike in adrenaline. It’s what causes the well-known feeling called “gamblers high” and it is by far one of the most addictive feelings for gamblers.


Many gamblers have been known to chase the “high” and get caught up risking more money than they wanted to. Chasing this feeling often causes rational thought to go right out the window. And with the departure of rational thought, usually the bankroll flies right out the window too.


So, while it’s a great feeling to enjoy the big wins, and I would never tell you not to enjoy them (that’s the best part of gambling!), I just want you to always remember to keep a level head.


Just because you hit lucky once, doesn’t mean you can predict when the next lucky streak will hit. And conversely, you also can’t predict when an unlucky streak is going to hit.


If you play with too much emotion, you’re likely to spend more than you are comfortable with. If you become emotionally invested in getting back that adrenaline spike, you’ll burn through your bankroll in record time.


Don’t let your emotions to control you. It’s important to be smart and play with patience, to maximize our chances of return on our investment.


And most importantly, when it comes to gambling, always listen to the sage advice of Kenny Rogers. Make sure you know when to walk away (and when to run!). Set strict rules for yourself with how much you are willing to risk in a session.


If you lose that amount, take a break and walk away. Don’t try to chase the wins. It’s easy to fall into the trap of “just one more spin” to try and win it all back. But that strategy rarely works out to the player’s advantage.


In fact, it usually ends badly and you’ll probably end up being mad at yourself for going beyond your limit. Instead, be smart and walk away…and then you’ll still have money left to try your luck another day.


1. Withdraw Your Deposit


As soon as you build up your bankroll to more than double what you initially invested, I recommend withdrawing your initial deposit amount. That way, you’re playing on house money. You can comfortably say that you’re gambling exclusively with profit, and that’s definitely something to brag about.


When you double that initial stake amount again, I recommend withdrawing your initial deposit amount again and keeping your bankroll at the same initial amount.


By doing this second withdrawal, you can say that you have officially doubled your investment and become a winning gambler. This is the most coveted of all titles amongst gamblers. So wear that title loud and proud!


Keeping your bankroll at the amount you initially deposited will also help you be a controlled gambler. When your bankroll gets extra flush, it’s very tempting to start betting more.


And before you know it, all of a sudden you’ve lost more than you were comfortable with. If you take this advice and consistently withdraw your profit, you will keep your bankroll at a level you are comfortable with spending. It’s a smart way to ensure you won’t get lost in the frenzy.


The Wrap Up


One of the main differences between winners and losers in casinos is the successful practice of bankroll management. And now I have the framework to plant ourselves firmly on the winner’s side of that equation.


With a little bit of patience, a smart bet range, a firm budget and some rational decision-making, bankroll management can be easy. Once you make it part of your online gaming routine, it will become second nature.


Before you know it, you’ll feel more confident in your abilities and it will help you build up that bankroll successfully. So let’s get out there, and build that bankroll!



Gambling Canada | How much to bet on slots: manage bankroll


by | Mar 19, 2021 | Uncategorized


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A Guide to Managing Your Casino Bankroll


Bankroll


Bankroll management is one of the oldest topics in gambling. We’re only one of one zillion websites to talk about it.


(Seriously – one of one zillion.)


But that’s because casino bankroll management is an important topic. It’s like your household budget – without it, you have no idea where your money needs to go. The likely result is that you spend it randomly and with reckless abandon.


A bankroll management plan keeps you in check.


And while we may be one of one zillion websites to talk about it, between our decades of combined experience gambling online and off – playing casino games, poker and betting sports – we feel we’re qualified to give you advice.


Plus, maybe we have a unique perspective or idea you haven’t heard yet!


Anyway, we’re going to talk about casino bankroll management. The topics we’re going to cover include:


Our goal is to help you get a handle on your money so that you can gamble without going broke …too fast.


What is Casino Bankroll Management?


This probably seems like a silly question. Your bankroll is the amount of money you have to play with, right?


Your bankroll includes your gambling funds. However, if you’re gambling offline, it also includes the money you need for transportation, hotels, food, entertainment, and so on.


Of course, you can play with every dollar you have. But chances are you won’t have anywhere to sleep, and the only food and drink you may have are the casino’s watered-down cocktails and the random buffet comp.


We don’t recommend you go this route.


When you play online, you have fewer expenses, since you’re not traveling. There are other expenses you need to pay, though.


For example, you have to pay your internet and phone bill – especially if you want to gamble online. You might also have special gambling related costs you need to pay for, such as a special card counting forum or something.


The point is this; your bankroll includes everything you need to gamble. This money is outside of, or in addition to, the money you need for other areas of your life.


It should go without saying that you shouldn’t play with money you need to cover your bills, food and other more important things.


It’s only once you understand this that you can even begin to learn casino bankroll management.


We’ll look at how to do this in just a second. But first, let’s talk about how big your bankroll should be in the first place.


How Big Should Your Bankroll Be?


The problem with this question is that it’s subjective. There’s no set answer; it varies from person to person.


To figure this out, you need to ask yourself a few questions:



  • What games do I want to play?

  • What stakes do I want to play for?

  • How long do I want to play per session?

  • How many sessions do I plan to play?



Let’s look at a few examples to show you how you might figure this out.


Example #1


You want to play a couple Texas hold’em tournaments. They’re $45 each and they should take 3-4 hours to complete. You want to play 3 tournaments total, unless you bust early; if that happens, you’ll buy into another tournament for the same cost.


The math is pretty simple here. The very least you plan to play is 3 tournaments at $45 each. This means you need $135. Worst case is that you bust each of your first tournaments early and buy into another one. This will double your required bankroll to $270.


Knowing this, we’d recommend you bring between $180-$270, plus a few bucks for tips if you’re playing live and want to get a drink.


Example #2


Let’s say you want to play blackjack. The first thing you want to figure out is how many hands per hour you’ll play.


This is tricky to do, so we’ll refer to an expert.


The WizardOfOdds.com says you can expect to play between 50-85 hands per hour. Since online games move faster (because there’s no dealer), you can expect to play a few more hands – we’d say around 100.


Stakes vary, but you can expect to play for as little as $1 online and $3-$5 offline. Do the math, and you’ll realize that you need at least $100 to $500 for every hour you want to play.


Example #3


Last, let’s talk about slots. These are trickier to plan for because there are all sorts of variables to consider. For example:



  • The number of spins per hour. We’ve see one suggestion that you can get in 300 spins per hour.

  • The number of paylines per machine (which varies).

  • The different bonus rounds and mini games and how long they take.



There’s no way to figure this stuff out accurately. For example, we’ve had sessions where we can stretch $20 for 45 minutes to an hour, while other times we burned through $20 within 5 minutes of sitting down.


So, we’re not going to. Here’s what we recommend you do instead.


Simply decide how much money you have to play slots with. Then determine how many sessions you want to play. Then do the math (total money / sessions = money per session).


For example, say you have $500 to gamble with and you plan to play 5 sessions. Just bring $100 with you each time.


Now, one thing we didn’t factor in is when you win. That’s on purpose, though. We want to assume the worst-case scenario (that you’re most likely going to lose) when deciding how much to bring. That way you know you have something to play with.


We also didn’t talk about how much to play for.


We recommend playing for as little as possible, especially on games where the house edge is so large. That means penny lines for slots and $0.25/rounds for video poker.


That said, the whole point of gambling is to have fun. If fun equals $5/spin or $25/hand, and you have the money to burn, by all means, have at it.


How to Manage Your Bankroll


Now let’s talk about how to manage your casino bankroll.


This is MUCH easier to do once you’ve established how much money you have, how much you’re going to spend, and the games you’re going to spend it on.


The challenge here is simply sticking to your plan. Here are a couple tips to help you do that:



  • Only bring what you’re going to spend each session.

  • Have a friend or family member hold your money for you.

  • Use the self-exclusion options many online casinos offer to limit how much you’ll spend per session, or how long your session will be.



That last point is important. In fact, we recommend also setting a time limit for how long you’re going to play.


In a best-case scenario, it’ll give you a break so that you can stretch and clear your head. Maybe you’ll even decide to walk away (with a profit).


Worst case, it’ll serve as a stop loss. It’ll give you a break from losing. And, if you didn’t stick to your casino bankroll management plan, then it’ll minimize the extra spending you weren’t supposed to do.


One last thing before we move on.


You should also consider setting a limit for how much you’ll win before you quit.


That probably sounds odd; why wouldn’t you keep playing if you’re winning? The thing is, you’re all but guaranteed to lose at most casino games. If you’re up any money at all, you’re doing better than most.


So, why not walk away with a little extra than what you came in with?


10 Tips for How to Make Your Bankroll Last


Okay, by now you know what a bankroll is, how to figure out how much to bring to the casino, and how to manage it.


Now we want to wrap things up by giving you a few tips for how to keep your bankroll afloat for as long as possible.


1. Join a VIP program.


Most casinos offer some form of loyalty program. The perks vary wildly, but often include buffet, show and room comps, or cash back, bonuses and free spins.


These things will either offset money you were going to spend anyway, or will be money you may not have had before.


Either way, these will free up and/or give you additional money to play with. In the case of cash back and bonuses, you can often play with this money before you spend your own money.


2. Claim deposit bonuses.


Same idea as above. Claim a deposit bonus and you’ll play on the casino’s dime.


However, if you want to cash out your winnings, you’ll need to fulfill their bonus terms. Usually this means wagering so many dollars (thousands) prior to cashing out. The risk is that you can lose all your winnings back to the casino.


That sucks, but you should expect to lose your money anyway. If you can adopt this attitude, then you can focus on the upside of playing with money that didn’t come from your pocket.


That’s how we like to look at it. Anything we may win is simply a bonus.


3. Play slowly.


When you win money on a slot or virtual game, you can usually hit the spin or deal money and all the money you won will hit your balance instantly.


However, you can make your bankroll last even longer if you don’t do this. Just let the machine pay you however fast you want, which will give you a 30-90 second break between rounds. This will reduce the number of rounds you play total, as well as the total amount of money you spend.


We’ve used this trick to stretch tiny $20 bankrolls into 30+ minute sessions.


4. Play for smaller limits.


Another tip is to play for smaller limits. Play $0.40 per spin instead of $0.80 or $1.60. Play $1 blackjack instead of $3 or $5.


It may not be as exciting, and you may not hit one of those big jackpots, but it’s unlikely you were going to hit a jackpot anyway.


Tip! Many slot machines nowadays have multiple jackpots for different size budgets. Penny slot players can still play for and hit a $30 or $100 ”mini” jackpot.


At least now you can double or triple the entertainment you get from the same amount of money.


5. Play at a two-seat machine.


This tip is for live players. Some of the newer slot machines we’ve seen in Las Vegas have a bench seat that seats 2-3 people.


What we’ve done with our spouses is pop in $20 or $50 – whatever we’d spend playing by ourselves – and take turns hitting the spin button. Whoever hits the bonus round gets to play it.


This is a great way to make your bankroll last longer, assuming you don’t wager more than you would if you were playing by yourselves.


It’s also a great way to spend time together, as often times the machines you both want to play aren’t placed next to each other.


6. Only increase your bets with your winnings.


We all like to play for higher stakes. It’s more exciting because of the potential to win more. However, you run the risk of burning through your bankroll at a faster rate.


So, here’s what we like to do:


We’ll set our budget at $20 (say, for slots). We’ll play penny lines if our balance is $20 or under.


If we have more than $20, we allow ourselves to double our bets. If we triple our balance, then we can triple our bets.


Here’s what this looks like:



  • $20 balance = $0.01 bet (x number of lines)

  • $40 balance = $0.02 bet (x number of lines)

  • $60 balance = $0.03 bet (x number of lines)



This allows you to move up and down as needed without taking on too much risk. And in our experience, this does a great job in making our bankroll last longer, while also satisfying the need to play for higher limits.


7. Play games where the odds/house edge can be reduced with strategy.


This includes games like blackjack, baccarat, poker, video poker, sports betting, and so on.


This doesn’t mean you’re going to win. No casino game can be beaten unless you learn how to count cards or something, which is both hard to do and risky. Most casinos will kick you out for it.


You can cheat and beat the house. Chances are you’ll wind up in prison, though …and maybe on the nightly news.


If you learn how to play using basic strategy, though – which casinos don’t mind – you can avoid making dumb mistakes that cost you lots of money.


The better you play, the more likely it is that you’ll run into positive bouts of variance, too. This means you win more than what’s normal for that particular game (in the short term).


8. Take frequent breaks.


Every break you take means you’re not in the casino giving them your money. It also gives you a chance to clear your head and reassess where you’re at with your bankroll.


If you have a tendency to disregard your own guidelines, a break can mean the difference between making a small financial mistake and a large one.


9. Don’t chase losses.


This can be a tough one to follow, because if you lose enough money to the house, sometimes you feel like you want to get it back.


Other times you make the mistake of thinking the machine is due to hit, even though the truth is that no machine is due. They’re all 100% random.


The bottom line is that chasing losses is a bad idea. If you know you’re the type to chase his or her losses, then the best thing to do is only bring what you can afford to lose. That way you don’t spend money you saved for future sessions.


10. Bet sports.


Make a couple bets on a game and then just sit back and watch it. This is great because games can last an hour or more and you don’t have to bet much to get a rush from it.


There you have it, 10 tips to help you make your bankroll last as long as possible.


We’ve used most, if not all these tips with varying degrees of success. We’re sure they’ll help you, too.


Conclusion


There’s no denying it. Casino bankroll management is an important skill to have. It’s also the first skill you should develop if you want to have a good time at the casino.


Otherwise you might end up in Vegas for several days with no money because you spent it all in the first couple of minutes. Then you have to scrounge for food and sleep on benches until you catch your flight a couple days later.


We’re speaking from experience here.


That doesn’t have to be you, though. And if you use our tips above, along with some common sense, it won’t be.



A Comprehensive Guide to Bankroll Management


Bankroll Management


When you first think about online poker, you probably instantly have thoughts about audacious bluffs, big bets, and scooping huge piles of chips towards you after a successful hand. What most players don't realise is this though: of all the different tactics, strategies and ideas in online poker, the most vital is bankroll management.


But what exactly is bankroll management? Well, for starters, it has absolutely nothing to do with how you play the actual game. Instead, it's how you manage the money in your account, to ensure that you always have funds available to play with, even if you do happen to go through a lean spell on the tables.


So, if you're new to the game of poker, or if you're finding that you keep having to top up your account with more and more money on a regular basis, this is undoubtedly the page for you. Once you understand bankroll management, you should then see your long-term success at the poker table rise!


In regards to moving up in stakes, the CardsChat Bankroll Management strategy article is a good resource. Bankroll management is individual - people in different circumstances and with different goals will have different bankrolls - but this article provides really good rules of thumb that can be followed by beginner and intermediate players alike. The rules are simple, which makes following them easier.


PCardsChat forum member since 2008, has over $200k in live tournament winnings


Work and save some $ and put it aside to gamble with. Don't gamble with what you can't afford to lose. Always stings.


CardsChat forum member since 2012, has $300k in live tournament winnings


Bankroll Management Explained


In the simplest terms, your poker bankroll is the amount of money you have set aside for poker. This doesn't include money you have in your bank account for bills and your mortgage, nor does it include any money you're expecting to get in the future. It is purely the money you are prepared to devote solely to poker playing. This is why, when you look to build a bankroll, you should start by deciding how much you are prepared to risk. For some, it might be $10, while for others it could be $1000. Regardless of how much it is, it can still be used as a starting point for building your poker funds.


Some people make the mistake of thinking that their bankroll is simply the money in their online poker account, but this is not the case. You might, for example, decide that you have a $100 limit on your bankroll, but then only decide to deposit $50, leaving the other $50 safely stashed away in case you need to reload. Where your money actually is, is irrelevant - knowing how much you're prepared to spend in total is vital.


Bonuses and Your Bankroll


If you are savvy when choosing poker sites to play at, it is possible to increase your bankroll drastically when you make your first deposit. This is because the majority of online poker sites offer juicy welcome bonuses, which can double - or sometimes even triple - the amount of cash you deposit. You'll be able to find the very best online poker bonuses around here on this site, simply by reading through the reviews of different poker sites.


There's one thing about bonuses that is really important to remember though: always ensure that you input the code if required. If you don't you will miss out on all that extra cash, and won't be able to claim it at a later date. Also, remember this: while bonuses can be a great way to build your bankroll at the start, they will nearly always have a rollover requirement attached to them. This means that you can play with the money, but you won't be able to withdraw it - or any winnings made using it - until you have gambled it a certain number of times.


The first thing to really remember about building a bankroll is this: use bonuses wisely.


Don't forget that there's nothing wrong with splitting your bankroll over two or more different online poker sites, which will mean that you'll be able to take advantage of more welcome bonus offers, and therefore earn more money in the process!


The Ideal Starting Bankroll


Many people wonder what the ideal starting bankroll should be, however there is no real answer to this question. The reason for this is simple: everyone has their own limits, and therefore some will be able to devote more money to poker than others. The important thing to remember is this though: while poker is a game of skill, there is a chance that you will lose. Therefore, you should never deposit more money at a site than you can afford to lose. Hopefully though, if you play well and follow the basics of bankroll management, your bankroll will only grow and you'll never have to deposit any more money at your chosen online poker site again.


How Much to Risk


After you have determined how much you can afford to deposit each month, the first order is to set limits on what stakes you will play.


Cash game

at least 20 buy-ins


(some players prefer as many as 40-50)


Example: .05-.10NL


A good rule of thumb for cash players is to have at least 20 buy-ins (some players prefer as many as 40-50). That means if you are going to play .05/.10NL and the minimum buy-in for the table is $4, then you would ideally have at least $80 in your account. If you're the kind of player who wants to buy in for the maximum, say $10, then you would want to have $200 in your account.


You must also set limits for individual sessions. Knowing when to quit is a tough decision for cash game players. The decision can be equally difficult when you are having a winning session or a losing session. Many players confuse a "hot streak" with great play. They'll get up 4-5 times their buy-in, convince themselves that their run of monster hands and suckouts is actual skill and keep playing. Three orbits later, they've frittered away some, if not all, of their potential profit simply because they didn't know when to quit.


Set a goal for yourself. It's also a good idea to set a loss limit, too. Examples:


to win twice the buy-in


Once you achieve that goal, cash out and turn the computer off. Hot streaks are going to end some time.


limit of no more than two buy-ins per session


Once you've lost that second buy-in, call it a night and come back the next day.


restrict yourself to 2% of your bankroll for any buy-in


Tournaments


For multi-table tournaments, try to restrict yourself to 2 percent of your bankroll for any one buy-in. If you have $500 in your account, look for tournaments that are $10 or less. The same principle can be used for sit-n-goes.


You need to make sure your buy-in total includes rebuys or add-ons. If you play a tourney that offers re-buys and add-ons, add up the cost of the initial buy-in, one rebuy and one add-on and then make sure you're still under the 5 percent mark. As you'll see later though, it is generally a good idea to avoid rebuys and add-ons when playing in tournaments.


Building a Bankroll


So, now you have your initial bankroll ready to go, and you're itching to start making some money at the poker tables. Bankroll management isn't just a case of starting with the right amount of money though - it's also the case of making sure you never exceed your limits while playing, even if you've suddenly managed to turn $100 into $1000. So, what rules should you follow when trying to increase your bankroll in the safest and most sensible way? Well, it depends on a few factors, and they are illustrated below.


1. The Stakes


Obviously, playing higher stakes will require a larger bankroll than grinding lower stakes of the same game type. However, this effect is not always linear, as the possible variance in moving from 50NL to 200NL may be such that the player requires more than four times the bankroll from his days of grinding 50NL.


2. The Game Type


In general, playing tournaments as opposed to cash games will be higher variance and require a larger bankroll even at similar stakes. Lower variance game types will require lower bankrolls as compared to their faster-paced counterparts. Extremely high variance formats, such as super-turbo tournaments, will require you to have a higher bankroll (in terms of number of buy-ins).


3. The Rate of Winning


For tournament players, this figure refers to the player's return on investment (ROI) that they can expect from the tournaments they currently play. For cash games, this figure is the player's win rate in big blinds per 100 hands played. Regardless of whether one is a tournament or cash game player, a large sample size of hands is necessary to accurately assess the rate of winning. Many people overestimate this number based on running unsustainably well over too small of a sample of hands. For those that are unsure as to the accuracy of their win rate, it is suggested that they proceed with caution and research.


4. The Comfort Level


This key aspect is primarily influenced by two key components: life roll (or the person's other available cash and income streams) and the mental composure of the player. Mental composure refers to the individual tendencies of the player that will often converge with optimal bankroll management decisions unique to each individual. Some players may feel that having a bankroll that is three times the suggested standard bankroll for their situation enables them to play better poker. Others may conclude that having an overly-large bankroll contributes to them playing sloppy poker. If having a larger than normal bankroll helps a player to perform with better clarity, then this can be a component that almost supersedes the other guidelines in terms of arriving at an ideal bankroll figure.


Examples of Bankroll Building


Everyone is different, and everyone will go about building their bankroll in a slightly different way - as mentioned above, there are various factors that can influence the exact path you choose to take. To give you an idea about how to build a bankroll in different situations, we've come up with three examples, which you can read below:


Player A


Player A plays live 200 NL ($1/$2 no limit hold'em), and has maintained an hourly rate of $12 an hour after playing for 60 hours a week for the last year. If the player saw 25 hands an hour, this would mean that his sample size was a bit under 80,000 hands.


When he began playing, he started online at lower stakes. During his transition to live, he felt that he was uncomfortable and under-rolled when he started with 10 buy-ins, and became worried that he was playing too tightly when he experienced a downswing. Now that he has built his bankroll up to $5,000, he is wondering if it is time to make the jump to $2/$5.


Being as the player experienced stress when playing with a shorter roll before, and the fact that he can likely expect for his win rate to decrease, it would not be advisable to move up in stakes yet. In this player's case, grinding $1/$2 until he has well over two and a half times the bankroll for 200NL would be advisable. Additionally, he could alternate sessions at both stakes to lower his average buy-in and increase his comfort level at the higher-stakes.


live 200 NL


hourly rate of $12


after playing for 60 hours a week


bankroll up to $5,000


jump to $2/$5


Player B


Player B plays mid-stakes multi-table tournaments online. He has played over 25,000 tournaments and has maintained a 25% average return on investment. In the past, he has taken a few isolated shots in high-stakes tournaments. Although none of them have enabled him to move to high-stakes tournaments for any length of time, the player was not put under any undue stress and he came away from the experience happy with how he played.


He maintains a bankroll of 300 times his average buy-in, which at times he feels is too conservative, and may be holding him back from reaching the high-stakes tournaments he wishes to play as quickly as possible. This player may be a better candidate for taking a more aggressive strategy with building his bankroll, so long as he is comfortable with having to play lower if increased shot-taking doesn't pan out. Additionally, he is likely in an easier position than Player A to find a stake should things go poorly. This player could consider lowering his average buy-in bankroll requirement to 250, and using the extra 50 buy-ins towards a fewer number of carefully planned shots.


over 25,000 tournaments


25% average return on investment


lowering average buy-in to 250


extra 50 buy-ins to plan shots carefully


Player C


Player C plays low stakes super turbo sit and goes, and is hoping to transition to normal speed sit and goes. He has played very few normal speed sit and goes, but over 30,000 super turbos with a 5% return on investment. In general, a lower expected ROI for a player is likely to be higher variance, and for that reason he maintains a very conservative 400 buy-ins for grinding the super turbos. He feels that sometimes he gets bored playing the super turbos, and is ready to play a new game type. He also feels that he'll have a higher ROI in the lower variance format of normal speed sit and goes, and that will enable him to be less conservative with his bankroll, and thus progress in stakes more rapidly.


One of the benefits of maintaining a conservative bankroll is that it enables a player to potentially take shots, but the problem with Player C's analysis is that he does not know what his expectation is in the new game type he wishes to play. Grinding the game at which he is a proven winner such that he could afford to get a coach for the new game type could be a good option. Alternatively, if he has studied the nuances of the new game extensively, he could devote a separate amount towards that game, ideally starting out at the micro-stakes in order to minimize risk. The important thing is that Player C recognizes that how he can expect to perform in the new game type is mostly independent to how he did in the super turbos. While of course there will be some cross over in skills, to assume that a proven winner in a game type can switch to a different game and win more is to disregard an accurate assessment of one's own win rate.


30,000 super turbos


5% return on investment


ready to play a new game type


Managing Your Expectations


Perhaps the biggest issue people have with bankroll management is their own expectations. Many people join a poker site and expect to turn their $10 into $10,000 overnight, simply by entering a $10 multi-table tournament and beating the rest of the field. While it would be wrong to say that this has never happened, 99.99% of the time it ends with the bankroll being lost and the player having to reload their account again.


This is where expectation management is important. Instead of setting unrealistic goals, you need to move forward with small steps. So, you should be happy if you manage to turn that $10 into $11 on your first day. Moving ahead to higher stakes, you should be glad if you manage to turn your $1000 bankroll in $1050 after a session. Of course, there will be days when you surpass your goals, but these should be taken as the exception, rather than the rule.


People expect to turn their $10 into $10,000 overnight.


Be happy if you manage to turn that $10 into $11 on your first day


Be happy if you manage to turn that $1000 into $1050 on your first day


Also, you will lose money at some point. Losing is part of poker, and it happens to everyone from beginners through to players like Daniel Negreanu and Phil Ivey. You have to learn that losing some of your money isn't a disaster and, as mentioned earlier, you should stop playing when you have lost a certain amount. By doing so, you'll prevent yourself from going on tilt (getting so angry that you start risking more and more money on risky plays) and will also ensure that you've got money for tomorrow - and tomorrow could be the day that you win back your losses, plus more!


So, the golden rule here is this: don't expect too much of your yourself, and don't get downhearted if you have a bad day. Even the best players in the world don't double their bankroll every time they sit down at a poker table!


How to Avoid Losing Your Bankroll


You will occasionally lose - as already mentioned, that's simply part of the game. But there are a few things to remember if you want to limit your losses as much as possible. You'll find them listed below.


Avoid re-buy tournaments


Re-buy tournaments are generally best avoided. They lure you in with a small buy-in and a disproportionately large prize pool ($2 buy-in for a $1,500 tournament). This initial buy-in is misleading though. These tourneys generally feature smaller starting stacks (say 1,000 or 1,500 chips). Throw in hyper-aggressive play from players who are trying to get double-ups as quickly as possible and a massive add-on (10,000 chips for $2) that entices you to keep re-buying, and you've got a recipe for disaster. The next thing you know, you're on your fifth re-buy and you then decide to stump up another $2 on the add-on. The cheap, $2 tourney has turned into a $14 buy-in. Even if you make the money, you'll have to get pretty close to the final table just to recoup your investment. Beginning players should avoid rebuys like the plague.


Watch out for late registration


Avoid tournaments with long registration windows (anything more than one hour). Some sites offer late registration for as long as five hours on some of their bigger tournaments, which means you're going to have to play at least six or seven hours just to get a min-cash. If you're a relatively inexperienced player, chances are your game is not to the level needed to be able to last as long as seven hours in a large multi-table tournament.


Get there early


Register at the beginning of the tournament so you get the maximum value for your buy-in. A tournament with an initial starting stack of 3,000 and an initial big blind of 20 gives you 150 big blinds to start with. If you wait and register when the big blind is up to 60, you're starting out with 50 big blinds. Give yourself the best possible chance to play your normal game.


Forget the auto-top up option


For cash players, one sure way to lose more than you intended during a session is to take advantage of the auto top-up feature. The auto top-up always keeps your stack at the level you bought in for. So, if you are on a $.05/$.10 table and buy-in for $10, any time your balance dips below $10, the site will top you up to $10 again. Expert players will tell you to enable this feature. They believe that you should always have your max buy-in at your disposal so when you get the opportunity for the double-up, you are maximizing your profits.


That might work for experts, but for new and recreational players, the auto top-up can have disastrous effects. It keeps you from knowing how much you have lost in a session. For a player with a small bankroll, this is critical information. You need to know if you've already lost $6 of your original $10 buy-in. Ignoring how much you've lost in a session will ensure your bankroll disappears quickly.


Conclusion


There's no other game in the world quite like poker. Luck certainly plays its part in the game, but there are so many other nuances that can be used to gain the advantage and help you to win money when you play. Bankroll management, while not one of the most glamorous parts of the game, is certainly one of the most important things to understand though. Keep an eye on your bankroll management and you should find yourself having to deposit less, but allow your focus to drop for a while, and you could end up reloading your account over and over again.


Regardless of whether you're planning to deposit $10, $100 or $10,000, bankroll management is something you should certainly think about, and the hints, tips and explanations found in the article above should give you everything you need to not only make sense of bankroll management, but to use it in a way that benefits your entire online poker experience. So, why not take a look at your current bankroll, and devise a bankroll strategy before you next sit down for a quick game?



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