Bankroll management is one of the most overlooked principles in pre-game strategy, it has to be understood and applied in order to be a consistant winning poker player. Lets look at some basic bankroll management fundamentals.

• Keeping Records

  First I will start off by suggesting that you keep a record of your poker sessions. What poker room you played at? What limits you played at? What amount you won or lost? How long you played? ect..... There are a few bankroll management programs available online that do an excellent job of all of this for you. Invest a little money upfront in one of these programs and it will pay off in the end, you'll be able to take an overall look and evaluate how you are doing financially, what limits you do best at, what times you are more profitable and which rooms are more profitable, at minimum you will honestly know if you are a winning or losing player.

• 5% Rule

  I would have to say that one of the simplest and easiest formulas of bankroll management to remember is to never risk more than 5% of your total bankroll at any given time. Those who adhere to this principle will be able to comfortably play at any level of poker their bankroll allows. Notice I said that their bankroll allows, your bankroll should be your deciding factor of which limits of poker you play.

• No Limit Bankroll

  "No Limit" holdem cash games online or live can have huge swings at times, you should have at least 20 times the maximum buy in for the limit you decide to play.

• Limit Bankroll

  In "Limit" holdem games the swings are not as drastic and you have greater control over your money at play, I would suggest that you need at least 300x's the BB in order to play comfortably.

• Tourney Bankroll

  If you are a single, multi-table or sit-n-go tournament player, you should have at least 40 times the buy in, if the tournament entry was $5 then you would need at least a $200 bankroll. If you stick to these simple guidelines you are well on your way to becoming a successful poker player. You will have built yourself a solid pre-game strategy that many do not use, you will have a solid advantage over your opponents before you even start playing the game.

• Variance

  In poker there are bad beats and bad runs of cards, this is technically known as "variance" it is the "ups and downs" the "highs and lows" that poker players at all limits and levels of skill experience. Your bankroll should be large enough to cover the variance at the limits you decide to play and if it's not large enough, you will not have enough money to compensate for the low swings that come with poker and it is gauranteed that you will more than likely lose your entire bankroll.

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  I know that most people do not play mathmatically correct and do not know nor stick to these guidelines but nevertheless these are fundamentally sound bankroll manangement strategies that will work if they are applied.
  
  
  If you stick to these following 3 rules;
  
  

• 1. Not risking more than 5% of our bankroll at any given time.
• 2. Having at least 20 times the maximum buy-in (No Limit).
• 3. Or having at least 300x's the BB (Limit), you will be well on your way to becoming a successful profitable poker player.

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  In the following table I have included easy to follow bankroll management guidelines that are in harmony with the principles you have just learned. Have great a time applying these principles and may you prosper greatly!