Bankroll Management Guide

8/9/2019 Bankroll Management Guide

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Bankroll Management Guide

By Jason Narog

http://www.pokerlessonsforbeginners.com
http://www.pokerlessonsforbeginners.com/http://www.pokerlessonsforbeginners.com/


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Disclaimer:

The author is not responsible for the use or misuse of the information contained within. The information

contained in the book is for information and entertainment purposes only. It is not intended as

professional advice or a recommendation to act. Before engaging in any activity mentioned in this book,

seek legal advice and consultation of a competent professional, and only act upon that counsel.

Although the best efforts have been undertaken to ensure the quality information within is accurate, the

author does not make any such warranties as to that accuracy. There are some companies and/or websites

that are mentioned in this book, but only for the purpose of providing additional information and aid you

in your own search. The author does not endorse any of them, or makes any official claims on their behalf.

Please research any moneymaking plan that you may be considering with the same diligence that youd

apply to any potential business activity.

Legal Notice:

While all attempts have been made to verify information provided in this publication,neither the Author

nor the Publisher assumes any responsibility for errors, omissions, or contrary interpretation of the subject

matter herein.

The Author and Publisher assume no responsibility or liability whatsoever on the behalf of any Purchaser

or Reader of these materials. Any perceived slights of specific people or organizations are unintentional.

We do not promote illegal, underage gambling or gambling to those who live in a jurisdiction where

gambling is considered unlawful. The information within this site and newsletter is being presented solely

for entertainment purposes. We will not be held responsible for any personal loss of wagers or damages

you may incur. Anyone concerned about having a gambling problem can contact Gamblers Anonymous

for further information.


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EARNINGS AND INCOME DISCLAIMER

We make every effort to ensure that we accurately represent these products and services and their potential

for income. Earning made by our company and its customers are estimates of what we think you can

possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that

the earnings and income statements differ by individual.

As with any game of chance, your results may vary, and will be based on your individual capacity,

experience, expertise, and level of desire. There are no guarantees concerning the level of success you may

experience. Each individuals success depends on his or her background, dedication, desire and motivation.

There is no assurance that examples of past earnings can be duplicated in the future. We cannot guarantee

your future results and/or success. There are unknown risks in poker and on the internet that we cannot

foresee which can reduce results. We are not responsible for your actions.

ALL RIGHTS RESERVED. No part of this report may be reproduced or transmitted in any form

whatsoever, electronic, or mechanical, including photocopying, recording, or by any informational storage

or retrieval system without express written, dated and signed permission from the author.

AFFILIATE DISCLIAMER. Links within this book are links to website in which the author receives a

commission from sales. If you decide to order anything from this book, you understand the author will

receive compensation for the order.

PLEASE FEEL FREE TO PRINT THIS BOOK FOR EASY READING


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Your Relationship with MoneyOne's relationship with money plays a critical role in whether or not one will be able to play

poker comfortably. If you've borrowed money, are playing above what you can afford to lose,

or are currently massively in debt, than your ability at the poker table will be limited due to

your circumstances. Players have to be comfortable with putting their money into the pot,

and they have to understand that there is a risk that they could lose the pot. If you aren't

able to bet when you need to bet, you'll be throwing away pots that should be yours. If

you're throwing away pots, you cannot build up your bankroll. And if you can't add to your

bankroll, you're left waiting for only guaranteed winning situations, which only come around

in a blue moon.

A poor relationship with money creates what is known as the tight passive poker player. Atight passive poker player understands what to do at the table but can't execute. He waits for

premium hands to try and double up then surrenders the second someone puts any

pressure on him, simply because he's unwilling to put his money into the pot.

Now this isn't to say that its a good idea to start throwing chips into pots you have absolutely

zero chance of winning. Quite the opposite actually. In poker you need to take what are

known as educated risks. If you have a very good chance of winning the pot you need to bet

at it. For a player who is afraid of losing, they won't be able to put those chips into the pot inthe right circumstances. They may bet small pre-flop holding pocket aces, they may overbet

when they're beat. The difficulty with being afraid of losing is that you make your plays at the

wrong time.

A player who cannot pull the trigger when the opportunity presents itself stands zero chance

of ever winning. He may win a pot here or there but leaves many additional chips on the

table simply due to a subconscious fear of losing.

To determine how much money you can afford to deposit and play with please use the

Bankroll Calculator located at: http://www.pokermoneyclips.com/bankroll-management-

calculator.html. While you're there you may also want to pick up your very own Royal Flush

of Spades Poker Money Clip, which helps keep your poker cash separate from your regular

cash.
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In Play Bankroll ManagementIf you're playing cash games typically the number to go by is your bankroll must be 20 times

less than your overall bankroll. So if you're buying into a game at $5 you need $100 for a

total bankroll (5 x 20 = 100.) If you're buying in for $10 you need $200. And if you're buying

in for $100 you need $2,000 total in your bankroll.

The reason for this is simple one loss at the table will not cripple you. Let's say you pick up

pocket fives in late position and enter into the pot. The flop comes Queen Five Queen. An

opponent bets, you re-raise, he pushes all in you call. Your opponent turns over Queen 9

offsuit. Turn comes 3, river comes 9. Your full house on the flop just lost out to your

opponents full house on the river (this is a real example of a hand I played in, although the 9

may have been a different card, maybe an 8 or 7, but the hand result is the same.)

Now if you were playing at say a $100 table with only $200 in your bankroll, well there went

50% of your bankroll. The loss hits you much harder when you're putting too much money

on any one situation. A 5% loss is much easier to recoup than a 50% loss (or even a 10%

loss for that matter.)

You also avoid tilting as easily. Your decisions are solid as it's not a huge hit to your ego or

your bankroll any time you lose a hand. If you're playing with your rent money you'll have amuch more difficult time at making wise decisions than if you're playing in a comfortable

range.

When a player only loses 5% of their total bankroll they can easily buy back in (especially

after a bad beat like the one described above) and turn around and win all their chips back

and then some. If you lost a substantial portion of your bankroll you're left with 2 options

move down a level or risk it all. In the risking it all situations you will not be playing your best

poker. While all it takes to win is a chip and a chair, the odds against are astronomical. By

playing smart you're ensuring your overall survival as a poker player.


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Moving Up and Down LevelsOnce your bankroll can support the move to go up, feel free to go for it. It may take a little bit

to adjust to any differences in skill level at this new level, but if you're only moving up a total

of one level the skill level difference shouldn't be too great. If you have difficulty at this

higher level, move back down until you feel comfortable with your skills and then move back

up. A lot can be learned in poker simply by playing regardless of buy in level.

Many players at the lower levels may be as skilled if not more skilled than a player at a

higher buy in level. They play at the lower levels simply because it's more profitable per

hour. A player who can take advantage of opponent mistakes playing two online tables at a

time may be winning more per hour than a player who only sometimes can take advantage

of his opponents at the buy in level above.

If you're consistently losing at your current level it may be time to drop down one or two

levels. Play around there for awhile, improving your reads on your opponents as well as

timing for bets. As you improve your ability to read opponents you also improve your overall

skill level. Once you can pick up on opponent ranges and betting patterns you have a much

better success rate at betting and folding at the correct times.

Also keep track of your wins and losses in an Excel Spreadsheet (or Open OfficeSpreadsheet if you don't have Microsoft Office, as it's the free alternative.) Create the

following categories: (A)Date, (B)Buy In, (C)Number of Players At Table (although this # can

fluctuate in cash games), (D)Hours Played, (E)Left Table With, (F)Earnings, (G)Earnings Per

Hour, and (H)Notes. If you set up your spreadsheet in that specific order your equation to

determine Earnings would be =E2 B2. Earnings Per Hour would be determined by

=F2/D2. Once you plug that equation into your F2 and G2 slots on your excel spreadsheet

you can simply drag those equations all the way down the board for them to update (E3-B3,

E4-B4, etc.)

Please keep in mind that hours only consist of 60 minutes, not 100 minutes, so your

numbers need to be adjusted for the math to be correct. 1 hours would be written as 1.5

as opposed to 1.3, 1 hours would be written as 1.25, 1 hour 10 minutes would be 1.167.

(C)Number of players at the table is useful for determining where you play best at. You may


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win more playing 4 player max tables than you do playing 6 table max, or perhaps you win

more playing at a full table than you do at a 4 player table. Identifying where you win most

often and where you lose most often is critical to proper table selection and bankroll

management.

(H) Notes is specifically for you to mark down any useful information for yourself to look

back at later. Perhaps you played at a different time of the day than normal and were

winning more (by the way feel free to make additional columns to keep track of information

on your spreadsheet, the more information you keep track of the more informed you'll be

about where and when to play) or perhaps you had some maniac calling station who was

sucking out on every player at the table. Notes are for you to reflect back on your session on

at a later date in time.

It may also be useful for you to note down the table number you were playing at for that

specific session so you can refer back to your hand history to determine if plays made were

good or poor. Looking through previous hand histories can be difficult if they aren't

numbered. If you hate looking through hand histories then just skip it.

Tournament Bankroll Strategies

Due to the degree of difficulty associated with consistently placing in a tournament, proper

bankroll management suggests only spending 1/50 th of your bankroll at any given time. So if

the buy in is $2 + 0.40 you need to have $120 total in your bankroll to consider entering into

the tournament. Yes, you do have to consider the fee associated with entering the

tournament for proper bankroll management to work as players cannot win back said

entrance fee (if you look at the prize pool, the entrance fee is not part of the payout,

consider the entrance fee the rake the card room is taking from the pot.)

In play tournament bankroll management consists of determining what is known as your

Tournament M Value (your current chip stack in relation to the blinds) as well as your current

ICM value (Independent Chip Model), which refers to your current chances of cashing. Both

are described to a much larger degree inside ofPoker Lessons For Beginners.
http://www.pokerlessonsforbeginners.com/http://www.pokerlessonsforbeginners.com/


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Tournament Tracking

As with table game tracking you want to create a spreadsheet to determine how often you're

placing, where you're placing, what time of day, etc.

My personal spreadsheet consists of the following information: (A) Date, (B) Place,

(C)Starting Players, (D) Places Paid, (E) Starting Chips, (F) Buy In, (G) Earnings, and (H)

Game Type. I then created additional fields to determine my winnings based on game type,

# of starting players, # of starting chips, and buy in level. Your equations will vary depending

on what type of numbers you are trying to figure out.

For instance the equation I used to determine my buy in's for only games where my starting

chip level was 1500 looked like this: =SUMIF(E21:E5010,"1500",F21:F5010) . The earnings

equation was then =SUMIF(E21:E5010,"1500",G21:G5010) . To determine winnings I then

subtracted buy in from earnings. I've bolded the variables that you will want to change to

make the equations work for you (I spent about a day of doing research on how to make

Excel do what I wanted it to, so the equations work like a charm, they just need your

adjusted values.)

You may also want to track the time of day you played, keep notes on each session, and

keep track of the tournament ID as well. A column for earnings per hour wouldn't hurt either,

as I'm currently only keeping track of my total earnings.

Creating spreadsheets is key to becoming a winning poker player. The more you track the

more you know about where you've been and where you're currently going. Some players

may be better at night than during the day. Some may be winners during their lunch hours

but a losing player after dinner. Some may excel at ultra turbo tournaments yet be terrible at

regular tournaments. The only way for you to determine this information for yourself is by

keeping track.

The more data you put into your spreadsheet the more you'll be able to learn. Identify a blind

speed, starting chip structure, and number of players per table that you excel at and stick to

it. Try to stick to your best time of day as well. By sticking to the tables you're good at you

minimize losses, which over time will help you grow your bankroll.


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Useful Resources

Free Resources:

http://www.pokerstove.com (Poker Equity calculator based on opponent hand

ranges) http://www.turningriver.com/ - (Odds calculators to determine % chance of winning

with any specific hand)

http://www.pokermoneyclips.com/poker/ - (Poker Math, equations, strategies, and

online calculators maintained by yours truly)

Paid Resources (You can get these for free when you make a deposit to one of their

sponsored poker rooms):

Sit N Go Shark (Roy Rounder's Sit N Go Online Sit N Go Software)

Calculatem Pro (Poker software for outs, odds, and strategies to improve your

game)

MagicHoldem (Odds and outs poker software to improve your game)

Sit N Go Wizard (Hand Analyzer for EV, reads hand histories to tell you which

plays were correct and which you need to adjust)

Online Poker Websites Still Accepting US Players (excluding D.C., Illinois, Indiana,

Kentucky, Louisiana, Michigan, Nevada, New Jersey, New York, Oregon, South

Dakota, Washington, Wisconsin, and Utah)

Cereus Network Absolute Poker& Ultimate Bet

Full Tilt Poker

Cake Poker(Doyle's Room & Unibomber Poker and now members of Cake)

Carbon Poker(PKR.com is part of this network)
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About Jason Narog

My introduction to Texas Holdem originally came from

the Yahoo Games limit Holdem game. From there I

moved on to PokerPages and Bugsy Club beforeventuring to PokerChamps (Gus Hansen's now

defunct online poker site) and USA Poker (which was

on the same server as Titan Poker.) USA Poker

banned all of it's US Players in 2006 during the

UIGEA Act.

Before going belly up I spent some time playing at

Duplicate Poker. Duplicate Poker was a very

interesting approach to poker. 12 total players would sign up to play at 2 six table Sit N Go's.

Not only would you be playing against your 5 opponents but you would be playing against

the player sitting in the same position as you at the other table as well. Whoever played the

same cards better between the two of you (and had the bigger stack) would move on to the

next round. This site rewarded proper poker strategy above everything else and it's a shame

they went under.

I can currently be found on Full Tiltand at the Cereus Network (Ultimate Bet.)

I've been writing poker strategies since 2005 when I first created From Goldfish To Piranha

Poker Strategies and Poker Tools as an addition to my website

http://www.pokermoneyclips.com which retails the royal flush of spades poker money clip

(pictured left in the hat) for $17. You'll also find writings of mine throughout the internet on

popular sites such as Hubpages or Ezine Articles.

I also maintain a few poker instructional websites including:

http://www.freetexasholdemsecrets.com (poker strategy articles)

http://www.howtobuildawebsite.com (articles and tutorials on how to design andmaintain your own poker articles website)
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Documents

Bankroll Management Guide