Bankroll Management: Our Top Tips to Maximize Your Poker Earnings

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Poker is a game of skill, and there are a million tips and tricks to be taught and shared in order to become the best player. However, gameplay is not the only key factor when trying to maximize poker earnings; managing bankroll is just as crucial. To put it simply, bankroll is the amount of available funds a player has access to during a game, and being able to grow this amount will lead to a higher win rate and more successful gaming!

Bankroll Management: An Overview

When playing online poker, bankroll refers to the amount of money reserved for the game. It should be thought of as savings, and the value should never exceed what a player is willing to risk during a poker game. This number will differ for everybody, some will be comfortable with just $50 in their poker fund, whilst others may build up to having $5,000.

For somebody who is starting out in bankroll management, the most important step is to create a starting point for your funds, which can just be a small amount of money to begin playing with. Again, there is no specific number for the perfect bankroll starter; everybody has their own goals and limits. Our advice is to choose an amount where the wins will be significant, but the losses will not have a long-term or negative impact.

Choose Which Games to Play Carefully

So, once your bankroll is set up, you’re ready to begin playing poker. But be careful not to just dive into the first game that you see, as this could lead to a serious depletion in funds and most definitely falls under bad bankroll management. The best games to start out with are those with the lowest rake, which in other words means a low commission fee taken by the cardroom. Poker rooms with high rakes could potentially eat into 10-15% of a player’s bankroll before the game even gets going.

Another piece of advice that applies not just to poker but to any kind of skill is to stick to one kind of game, rather than jumping between multiple sites. There are many ways to manage a bankroll and ensure a higher win rate when gaming, but all of these tips will go much further if the player becomes an expert at the game. Become a specialist in one type of poker by playing one kind of game consistently, and your success rate will increase drastically over time. Of course, playing new games is exciting, but whilst trying to build and manage your bankroll, prioritize honing your craft.

Treat Earnings Like Investments

When winning big on a poker game, the excitement can take over and our first instinct is to keep playing with our earnings and try to continue with the lucky streak. However, the sign of a good poker player is showing restraint and analyzing each decision before making it. Not all earnings need to be divested straight into your bankroll, and not every dime from your bankroll needs to be invested into a game.

Similarly, initially setting up a bankroll should be treated the same way as investing into the stock market. This means setting tight limits on how much to “invest”, and putting boundaries in place on how much and often to reload your bankroll.

Play within Your Limits

Approaching bankroll management with discipline sets the tone for how a player will approach a game of poker, and take it from us - playing within your limits is always the best decision! When your bankroll starts to grow, it can be tempting to immediately play a higher stakes game. Knowing when you are ready for higher stakes depends on the type of game you play. For example, cash games have lower variance than MTTs (multi-table tournaments), and so are easier to place high stakes in. Games with high variance should be played with more caution, as your bankroll will need to not only be large but be able to handle more buy-ins.

Another great reason to always play within limits is that it helps players to retain their mental composure. For the majority, having a well-managed and healthy bankroll can lead to feeling more secure and ultimately playing a better game of poker. On the other hand, some see a high number in their bankroll and feel as if they are already on a winning streak, and may play more recklessly as a result. What works for one player may not work for another, so always take time to know your limits and what makes you tick before investing too much or too little into your bankroll.