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I have read more articles on bankroll management than I can care to remember and I have also written numerous articles as well on this subject. I really think that there is a massive misconception to this topic with regards to how certain people view it. I suppose that I was fortunate enough really coming from a background in sports betting and blackjack that I always had a very good grasp on the subject. In this article though then I am simply going to concentrate on players who only have a set amount of money put to one side to play the game and if they lose that money then they are finished with poker.

Let me fly some vital but obvious facts by you for a minute. Poker has the capacity to make you an awful lot of money. Maybe not today, tomorrow, next month or even next year but it still has the capacity to do so. So if you have say $1000 to play poker with and you don’t have an awful lot of experience then you owe it to yourself to give poker your best shot. Even if you do not want to do this for yourself then at least do it for your family as their lives could also be enhanced by you making money from poker.

Any new players should shelve all ideas of winning big for the first few months or even during the first year. You need to gain experience and skill and during this educational process then you need to keep your bankroll intact or from being wiped out. How can you possibly see that big $40/hour earn rate in year two if you get wiped out during the first few days or weeks? One of the biggest downfalls of new players is that they come into the game with some set amount of money and then play too high with that money. The end result is that a lack of experience or knowledge or both coupled with a bad run wipes them out.

Some come back and repeat the same mistakes but many leave the game totally. What they never realised is that by playing properly with their money then they could have built their poker into something tangible in the future. If you have $1000 then I really do not think that you should play all that high. Forget about number of buy-ins or anything like that, your buy in level should be dependent not just on your bankroll size but also on your experience level as well.

No point in having twenty buy-ins at NL50 if the level is too tough for you. If you cannot beat $5 games at the outset then you have work to do with your game. It doesn’t matter that $5 games means that you have a massive 200 buy-ins, you are learning your trade for the future and that $1000 needs to be protected at all costs. Online poker will always be there waiting for you and it has the capacity to change your life but it cannot be there if you blow your money through poor bankroll management. So for players in this category then bankroll management really is the Holy Grail.

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