“Bankroll management” refers to the practice of managing one’s poker bankroll in a way that maximizes the chances of long-term success. This involves setting aside a specific amount of money for playing poker and then using that money in a strategic and disciplined way.
Good bankroll management involves several key principles. First, players should set aside an amount of money specifically for playing poker and not use it for other expenses. Second, players should only play at stakes that are appropriate for their bankroll, which helps to minimize the risk of going broke. For example, a player with a $1000 bankroll might only play at tables where the maximum buy-in is $50, which is 20 times their buy-in.
Third, players should also adjust the size of their bets and the number of tables they play based on their bankroll. If a player is on a downswing and their bankroll is shrinking, they may choose to play at fewer tables or make smaller bets until they are back on track.
Finally, good bankroll management involves maintaining a disciplined approach to playing poker. This means not playing above one’s skill level, avoiding tilt (emotional or irrational play), and not making impulsive decisions based on short-term results.