Poker Bankroll Management
When new players start out on their poker careers, many are not sure whether to begin with cash games or single table tournaments (STTs). It is up to you to decide which is better for you! If you decide that STTs are for you It is best to start at full table games (8-10 players), avoid short handed games (6 players or less) and seek out games that have a slow structure thus avoiding turbos. If you decide cash play is for you then again start with full tables (8 - 10 players) and start with a rock type ABC style of poker until you start to develop your poker skills.
Bankroll is the amount of money you are prepared to commit to playing poker. The maximum you should take to the table at any one time should be no more than 5% although in reality 2.5% is much better. Having a large bankroll relative to the size of the game you are playing helps protect you from the inevitable downswings that even very good players will experience. A bankroll of at least 40 the x buy-in is generally regarded as an acceptable amount for a winning STT or even a cash player (if you are a losing player, no bankroll will ever be big enough). Downswings of 20-30x buy-in are not uncommon, and this is why you should develop good bankroll management skills because if you do not you will go broke no matter how good or skilful you are. Playing out of your comfort zone and risking too much of your bankroll at one time will hinder you as you will not win anything if you are scared because you are down to your last few buy-ins. If you hit a bad patch and your bankroll decreases then lower your stakes and slowly build your bankroll back up again. Only move up the levels when your bankroll has increased.
It may be that you are going to start off your poker career with less bankroll than strictly necessary. Most players have probably done this (and many continue to play at levels for which they are not thoroughly bankrolled), but you must accept that you run the risk of going broke and having to reload to continue.
Another important aspect is that you should start your poker career on a soft site. The big sites such as Stars and Full Tilt attract many sharks (good players) that play many tables at low stakes (sometime up to 20 at the same time) exploiting players with lesser skills or those new to the game. Find a site such as PKR that offers both a decent sign up bonus and rake back as this will add to your profit and cushion any losses.
