The bankroll management is a concept that entitles 3 main principles:
- Protect your online poker bankroll from losing its strength
- Protect against reversals after an advance
- Start growing your bankroll to the desired level
However the essence and the main goal of a bankroll management strategy is to start winning at online poker and keep hanging on to your winnings. Because losing your winnings is very bad.
Even if at the first sight, bankroll management might seem a lot like a stock market investment strategy, it is true, but fortunately we are going to use some simpler strategies to keep holding to our money compared to the sophisticated strategies that are being used by professional investors.
Many online poker players are not taking a serious approach over the bankroll and money management notions. They are thinking that poker is a game that never ends and thanks to the fact that they are playing if they do have a good skill level they are going to win, even if they do go broke at a certain moment. If you are going to apply the right online poker bankroll management strategies you can definitely get out of the embarrassing situation of going broke.
No matter what game you are playing: Blackjack, Poker or a Sit and Go poker tournament you should always take into consideration the bankroll management strategies to see a sustainable growth of your bankroll.
For example the famous professional poker player Stu Ungar was 3 times the WSOP champion. During his short life managed to earn more than $30 million and it is considered to be one of the greatest player of No Limit Texas Hold’em, but due to lack of managing his bankroll died with only $900 in his pockets.
Here we are going to present you some tips that you should always take into consideration if you are planning to make a good bankroll management that will give you the highest amount of satisfaction for playing online Sit and Go poker tournaments:
- Play at the level of stakes where you do feel comfortable. This means that the buy in amount for the Sit and Go tournament you are about to play must make you feel comfortable and at the same time challenging. If the buy in is too small you might ignore your loss, but in case it’s too bit you will be sweating all the time during the tournament. Make sure you create a state of balance when selecting the SNG level where you’re going to play.
- No matter how you’re playing and what you’re playing do not quit in case you are winning. The periods when you are winning a lot are not very frequent this is the reason why you should stick to that game
- Let your bankroll set up the level of stakes where you are playing. In order to find a Sit and Go tournament affordable, you must have a bankroll of at least 20 times the amount of the buy in you are about to pay for that Sit and Go Poker Tournament
- Be flexible when playing SNG tournaments. This means that you will have to move down when your bankroll is no longer supporting your play at a certain level. And when you are winning you should move up to higher buy ins. By adopting this bankroll to buy in ratio you can always play within your means
In case you are a new online poker player or you are just new to online Sit and Go poker tournaments, you still have many months of learning ahead of you. Make sure that you start out with the micro levels and move up as you start gaining more skill and your bankroll grows larger. Recommended that you sign up for Doyles Room rakeback to boost your bankroll as you play more and more Sit and Go’s.