by Nick Nicolaou
A question I am always asked is ‘How did you build your bankroll?’ The question sounds simple enough, but in actual fact it is quite complex and to be honest, bankroll management is arguably the most important aspect of being a successful poker player. Most people can understand what it takes to be a winner and can develop very good skills at the table but they struggle to build a bankroll for the limit they feel is worth their time playing.
The first step, in my opinion, is to develop a general understanding of what tools you will need to become a winning player. Regardless of how well versed you are in bankroll management, if you are not playing good poker, you will eventually go broke. In this day and age, the amount of information available online and in books to help beginning players learn the game is vast and it is all available for anyone wishing to access it.
Once the basics are learnt through these resources, I would strongly recommend becoming a member of an online poker training community such as Card Academy. This will give you a platform to learn from players who have achieved what you want to achieve and will also help you develop your game much faster than if you were working alone. Personally, a lot of what I have learnt playing cards, has come from discussing strategy with other players and attaining a wide perspective on the online poker world in general. Playing poker can be a lonely and frustrating journey at times and having a support system in place is worth its weight in gold. Without a fundamental understand of what it takes to win, the chances of success are very slim.
For beginners, I recommend a game which you feel financially comfortable in. Once you decide on that level, I suggest you play 3 levels below it! If you are learning the game, you want to do so at the smallest stakes possible, and even though I understand it can be frustrating playing against players who have no idea, you will also be quite inexperienced (even though you may not think so) and it would be in your interest to start out against opposition which isn’t very good. Doing this will allow you to develop your own style, gain patience and discipline, learn the basics and experiment with some advanced concepts all while not risking much money.
When looking to initially build your roll you should be looking for value in the games you are playing. Playing without rake-back is unforgivable because you are basically giving money away. Playing whilst clearing bonuses is also a smart way to gain extra value for your play and making sure you are doing both of these will go a long way to helping you get a roll together. For help with rake back you can contact me "nick at cardacademy.com".
I am of the school of thought that withdrawing profits as you go, has too many benefits to over look. Decide on a percentage of your winnings that you want to withdraw each week and stick to it. When you are running badly, you will always know that you have money in the bank that you gained playing poker. The psychological effects of this are of great benefit when times are tough at the tables and seeing the fruits of your labor in the form of cash or goods you have purchased, helps ease the pain when it seems that you can’t win a pot.
By consistently withdrawing money, it will take you longer to reach your desired stakes, but you will be a much better, disciplined player when you get there. By playing thousands more hands before you get to the higher stakes, your game will be well developed and so will your mental toughness. The extra time it takes you to get there will be well made up for by the increased win rate you will achieve at the higher stakes due to the fact that you are more prepared for them than you would have been had you not been withdrawing money.
Below are my recommendations on how many buy-ins you need to play NL comfortably. They may seem conservative, however, I feel that in order to move up limits, you need enough experience at the limits below. I would suggest having a look at my ‘Moving Up Limits’ article for some detailed discussion on what it takes to make the transition through the levels.
Below $1/2NL – 20 buy ins
$1/2NL – 25 buy ins
$2/4NL – 30 buy ins
$3/6NL – 40 buy ins
$5/10NL – 50 buy ins
Above – you shouldn't need this article.
If you are playing Limit then I would suggest:
300bb for $5/10 and below and 500bb for $10/20 and above.
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