Without doubt, a good bankroll strategy is the most important component in what makes the machine that is the professional poker player. Money is fuel and if you do not have any fuel your poker lifestyle will just come to an abrupt halt. Modern life allows most of us the luxury of credit, and this creates the illusion that you have a never-ending supply of money. If you live this sort of lifestyle then the chances are you do not deploy good strong bankroll management skills. Here is what you need to do to address the issue. People looking at WSOP 2012 should remember this.
Firstly, you need a set number of buy-ins for each level that you play. A good rule of thumb would be to ensure you have a minimum of 30 buy-ins if you are playing No Limit Hold’em (NLHE) and a 50 buy-ins if you are playing Pot Limit Omaha (PLO). If you then lose five buy-ins at the stake it is time to move down to a lower level and start again. Anyone searching for a Betfair Poker Freeroll should bear this in mind.
Another tip concerns your age. If you are in your late teens or early twenties it is advisable to try and take as many shots as you can. As you grow older you are going to end up with more responsibilities. You are going to find a partner and maybe have children and these responsibilities do make you a little bit more cautious with your money. Caution often results in the player steadying his ship and not wanting to improve. If you take structured shots at higher levels when you are younger then you put yourself in a much better spot when your responsibilities finally come along.