A Pro's Journey: Bankroll Management and Profit Management

One of the most talked about topics in this area is bankroll management, but the truth is that even knowing the basic rule, few people respect it, and in some cases, this is the answer to their biggest problem.

Bankroll management

The standard recommendation for MTT is to have in your bankroll 100x the value of your average buy-in. For example, if your average buy-in is $20, your bankroll should be $2,000. But there are still other factors that can interfere with this decision, for example, when I started with a bankroll of $50 I played $1 SNGs with 45 players, so I only had 50 buy-ins, and even without having much knowledge of online poker yet I was quite successful in them. I think the most important thing is to be confident in the game you are playing, if you are starting out and are still hesitant, use 150 buy-ins.

Important: If you want to be a Poker professional, RESPECT your bankroll, there's no point in screaming and crying, poker is long term and that's it. Variance is just waiting for you to make a mistake so it can swallow you up, as it has done with great players out there.

Profit management

I maintained my bankroll, studied a lot and built up volume. If you followed these steps, you should already be making a profit, right? (If you aren't, you should study more). What should you do with this profit? I have some tips for certain types of players:

• Work and play poker: You still have a steady job so you probably don't need to take money out of your bankroll to pay your bills. Use your profits to increase your buy-in and join some coaches.
• I only play poker: You are at a stage where you need to withdraw at least a little each month to pay bills, etc. It is important to remember the variance and know how to get around it. You will have months where you will have a good run and make a lot of profit, and there will be months where you will break even or even lose money. It is the old story of lean months, in good months I already save a minimum withdrawal for 3 or 4 months later for safety, so I don't have to worry about things that could hinder my performance at the tables, such as not making the right play in a specific spot out of fear. I think this point is very important for those who need money every month, just know how to manage it. Do you have money left over? Use it to increase your bankroll and for coaching too.

Thanks guys, that was today's post, I hope you liked it, any questions or suggestions will be welcome.

Next article I will probably start talking about Sit n' Go. Cheers!

Questions, concerns and suggestions?