A Guide To Bankroll Management Part Two

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The Part One of A Guide To Bankroll Management was all about the basics and a couple of important things which you need to take into consideration while playing at a particular level or stakes.

We cannot stress this enough, but proper bankroll management is absolutely essential in order to be successful at poker in the long run and move up in stakes.

For Part Two of A Guide To Bankroll Management, we’re going to be talking about “taking shots” and things which you need to take care of while looking to move up in stakes.

“Taking A Shot”

“Taking a Shot” refers to when you are choosing to play at a higher stake than you usually play on a temporary basis.  For example, if you’re a cash player who plays $1/$2 regularly, you might take a shot and jump onto a $2/$5 table.

There are two golden rules when you are doing such a thing:

  1. You must never be “taking a shot” in order to cover your losses.
  2. You will revert back to the states your bankroll dictates once you’re done with shot taking.

A lot of times many players increase their stakes in order to cover their losses while they’re on a losing streak! More often than not, they end up losing even more than were in the first place.

Take a step back and think about it logically.

The best time to increase stakes and take a shot is definitely going to be when you are running well and variance is on your side. This means that you are going to be in your element and concentrated. On the contrary, if you’re on a downswing and you’re not winning flips or hitting cards, it will be a disaster if you choose to move to a higher stakes table.

You must try taking shots from time to time on higher stakes but always remember to go back where you belong and make logical decisions when it comes to your bankroll and stakes. Sticking to your BRM plan will always work in your favour!

MOVING UP THE STAKES 

Imagine that you have a 40 buy-in bankroll for the current stakes you’re playing and 35 buy-ins for the next highest stakes. What do you do in such a situation?

You could play the same stakes until you have a 40 buy-in bankroll for the next highest stakes or take a 2 or 3 buy-in shot at the higher stakes and come back down in case you lose those 2 or 3 buy-ins! Even if you lose those 2-3 buy-ins, you can always move back to lower stakes and gain back your confidence with a solid bankroll!

Always remember that your bankroll is not restricted to any one particular level or stakes. If you do choose to play at higher stakes and do not feel in your element, you can always choose to move back down and gain your confidence and build momentum.

“Taking Shots” is an important part of the game and can play a major role in building your bankroll and skill. Grinding micro stakes for hours and hours can get very tedious. Taking a shot at higher stakes sometimes can get your blood rushing again and give you a taste of what’s to come with the off-chance of you running extremely well and adding a sizable chunk to your bankroll!

In Part Three of A Guide To Bankroll Management, we’ll be discussing cashing out and different factors affecting the decision.

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