The bankroll in poker refers to the total amount of money that is going to be used to play, independently of the distribution that is made of it in the bets. In sports betting in general, the concept of bankroll also refers to the same thing, distinguishing between the total amount of money that will be used to play and the separate bets made in each round.
In poker, the management of your bankroll is a crucial aspect because it will determine your position in the game and can condition your continuity. In fact, losing the money that is going to be used to play can mean our immediate elimination, so it is something that should deserve our full attention.
Keys to properly manage the bankroll
It is common for some players, especially those with less experience, to place bets lightly without taking into account that they may lose quickly because they do not have a clear strategy.
In fact, as important as the bankroll is in poker, one of the first things a novice learns in one way or another is to manage his bankroll properly, although in the early stages of an inexperienced player’s career it is common to make some mistakes.
If you want to manage your bankroll properly, the best thing to do is to follow these tips to avoid losing all your funds destined to the game and to be able to opt for the best prizes by making a smarter use of your money.
The first thing to do is to determine what the total bankroll is going to be. It is essential to be clear from the beginning what is going to be the total amount of money that is going to be destined to be able to plan certain strategies and avoid unnecessary and absurd losses.
Keep in mind that you should not use money that you will need to live on, because betting has no guarantees. In other words, your entire bankroll should be made up of money you can afford to lose.
On the other hand, if you decide to compete simultaneously at different tables or even participate in multi-table tournaments, it is best to divide your bankroll proportionally among the tables you are playing at.
Management is key so that the bankroll does not vanish suddenly; in fact, it is best to never bet more than 5% of your bankroll in a single bet. Anything over this threshold is considered a very high-risk bet, so you must avoid that a single bet agglutinates an amount that exceeds this limit of your bankroll.
This is where stakes come into play. The more likely you consider a bet, the higher the stake. However, the stake should never exceed 5%, so set that percentage in stone.
A fundamental aspect so that the management of your bankroll is adequate is to think at all times in the long term. The operations that are carried out thinking only in the here and now do not usually go well, and that is why you must go further in your approaches. For that, of course, you must renounce the immediate results, something that can make the bankroll destined to poker seem somewhat static at first.
Finally, do not forget that poker is a serious game in which only players capable of taking the rules of the game seriously have a place. A good poker player is cautious, patient, analytical and keeps a low profile, although sometimes certain personality traits can go against these principles.
Other aspects to take into account in order to manage the bankroll correctly
Although in poker it is good to be ambitious, you must always be realistic with the goals you set for yourself and the aspirations you have. But there are other tips that can be useful for you not to make a mistake with the funds you have set aside for poker.
If we follow the advice that some professional poker players have made public about bankroll management, it is not only important to combine stability and proportionality in the bets, but it is also necessary to use a specific method depending on the profile of each player.
For example, the same article mentions the Fibonacci Method. This method establishes that the stake of each of our bets will be determined by the numbers of the Fibonacci series, which starts with 1 and is prolonged by the sum of the result and the immediately preceding number.
Strategies for more aggressive players are also mentioned. An example is the Kelly Method, which maximizes profits but carries a higher risk. The principle of this strategy says that the size of the stake should be equal to the size of the bets of the value the player is in.
To determine the size of the stake, a formula known as Kelly is used:
K = [(Probability of winning the bet x Odds) – 1] / (Odds – 1) x 100
However, the use of this strategy is not usually recommended to those less experienced players or with little or no experience studying stakes and bankrolls, which are usually the players with less experience in poker, so we advise you to reserve and focus, for now, on reducing losses to give your bankroll greater longevity.
Finally, don’t forget that calmness is a poker player’s best ally, even in the least favorable situations. Do not try to look for solutions in a hasty manner and always try to make good use of statistics, even in bad results.
Many players, in order not to remember some of their most bitter defeats, ignore the results of the games in which they were not victorious and only focus on studying the most favorable games.
But, in reality, knowing what the mistake was is the most important thing and for that it is essential to detect the vulnerabilities of the strategy you have followed, something that can only be achieved by studying all the games, both the good and the bad ones. It is part, inevitably, of the continuous learning process that can lead you to a better bankroll management in the future.