In playing games of chance, like say for example poker, there are many factors to consider in order to become a successful player. Not only must you have the proper skills and the intelligence to outsmart the other players, but you must also have the professional or wise management of resources and money.
Good players never lose everything they have and they don’t go broken. This is where the use of Bankroll Management Chart serves its purpose. But first, let us understand what Bankroll Management, which is also abbreviated as BRM, is:
BRM is the method of setting limits for yourself in order not to lose all of your money while playing. Players use the Bankroll Management Chart so that they can determine what table to play and how much money to spend. The level of cash you have determines the table where you play to. You cannot play on big cash games if you do not have a lot of money and resources. With the help of the Bankroll Management Chart, a player can choose wisely and will know when to stop if the odds are not with him/her.
An example in the Bankroll Management Chart tells us that in a normal cash game where the stakes are $1 for small blinds and $2 for big blinds, the maximum buy-in would be $200 and your minimum bankroll must not go down to at least $4,000. The proper way of management is that 5% of your total bankroll must be the maximum buy-in of the table. Exceed those numbers and you’ll surely see yourself losing money and eventually going broken and losing everything. For Sit and Go tables, maximum buy-in must also be the 5% of your total bankroll; and in Multi-table tournaments, the maximum buy-in must be only 2% or less of your total bankroll. This helps you in managing your resources in a way where you not lose money but still play and enjoy the game.
The Bankroll Management Chart is a great tool that can help players in preserving their money for future games. It is also a way of controlling yourself and avoiding overspending. Others do this to monitor their cash flow. A good player manages his or her resources wisely and he/she knows when to stop. In playing and gambling, there are days that when the cards and odds won’t be in your favor and this must be expected from time to time. You must know how much you have left and how much you can still spend. It is essential that a player must play within his or her bankroll and not over it. Even great players go broken because they overlook the importance of managing their money pool for future games.
Good players possess self-control and they know when to stop and let go. The game of cards does not only require good abilities but also patience and knowledge. Consider every factor that can affect your game and your resources. Play wisely and avoid losing. Be contented with what you earn or you may end up losing everything you have.