Imagine you are one of 10 guys standing on a basketball court with no ball: you want to play basketball, you may even be really good at it, but without the ball there simply isn't a game. Now imagine you are a poker player walking through the casino and you spot the softest table you have ever seen, but you have no money.
Well in poker, money is your ball; without money there is no poker game! And this is why every poker player must learn the ins-and-outs of bankroll management if they have any hope of succeeding in poker.
Proper bankroll management is as much a key to poker success as your overall poker strategy. No player, no matter how skilled, will always win, so the trick is to have enough money in reserve to ride out any losing streak that may come your way Situs Game.
Real life poker isn't like what you see in Hollywood movies, nor does it resemble the legendary stories you hear about, where some superstar poker player risks it all in a single hand: Oh NO! Real professional poker players understand the importance of risk vs. reward in poker, and would never put a sizable amount of their bankroll on the line for quick, short-term, results: This destroys their long-term edge.
This is the old coin-flip proposition, where a billionaire gives you $1,000,000, and says "you can either keep the million, or I'll give two-to-one odds on a coin flip for $1,000,000." The problem is you only have $1,000,000, so even though the odds say "TAKE THE BET" your risk is simply too high; and 99 out of 100 people would simply keep the million.
It sounds very simple: Don't risk it all. However, there is still an unanswered question, "how much should I risk at any given time?" And unfortunately the answer to this question isn't so simple: There are numerous factors that must be taken into account when you try to determine exactly how much money you will need for your poker bankroll.
But fear not, in this series I will outline every step of the bankroll building process you will need to employ in order to keep you in action at the poker tables, and make certain you don't turn into one of the deadbeats begging for a buy-in on the rail.
In Part 2, I will discuss variance and standard deviations, and how they will play a crucial role in determining the size of your bankroll.
In Part 3, I will detail the numerous factors that will also play a role in establishing the amount of money you will need for your poker bankroll.
In Part 4, you will learn the basics for building your poker bankroll from scratch for both online poker and live poker.