Profits from the poker tables, combined with a great rakeback deal, can give many players an income far above what they could earn in a regular job. However, becoming a rakeback poker professional has its risks - one of which is the fact that the chance element of poker can lead to downswings or bad runs on occasion. In order to balance for the natural variance in the game, serious poker players employ bankroll management. This article outlines the basics of bankroll management, with the rakeback player in mind!
We start by examining the factors which affect the size of bankroll required for playing poker professionally, these are the game played, your personal style and your ability to replenish your bankroll should the worst happen. Next we cover how bankroll management gives a great indication of when you move up (or down) levels. Finally returning to rakeback, and how this can help to balance those bankroll swings.
Different forms of poker measure bankroll requirements in different ways. With cash games this is counted as the number of buy-ins. It is suggested that a professional player keep at least 20 buy-ins for No-Limit Texas Holdem, 35 for Pot-Limit Omaha and 300 'Big Bets' for fixed limit games.
Sit N Goes require 50 buy-ins to comfortably withstand the variance of these games though some players prefer 100 instead. For Multi-table tournaments the key number is your 'average buy-in', here it is suggested 100 average buy-ins as a minimum - since this is the highest variance form of poker.
Your personal playing style will affect the number of buy-ins required, if you play a tight a solid game then you may require less than a loose and aggressive opponent. Whether you are able to reload should your bankroll disappear is also a factor, if you rely on your poker income then you may wish to be more conservative than a recreational player who enjoys the extra income but can reload if required.
Bankroll management provides a great indication of when to move up levels, you simply grind your current level until you have the required 'safe' bankroll to move up. Conversely if you lose a large proportion you might only have enough left for 20 buy-ins at a lower level, this indicates it is time to move down to rebuild, this is a natural part of many poker players development and should not be thought of as a failure!
Finally, getting a the right rakeback deal in place can help you to balance out those swings better than players without a deal. Break-even stretches can become positive when you receive your rakeback, and it is possible to recoup your losses too. What is more your rakeback earnings will see your bankroll growing faster, meaning that you'll soon have enough buy-ins for the next level, and thus even more rakeback plus profits!
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