Bankroll management for online sit and go tournaments.
written by Marty Smith.
It's mostly in the (poker) math.
A lot of players have trouble sticking to basic poker bankroll management rules. They feel confined by having to limit their buy-in based on how much is in their poker account. In one sense it's understandable if you can only play with three for maybe 5% of your bankroll at any given time. Impatient players may actually feel that that is wasting opportunity, because their money isn't being used to its fullest extent. Making the most of your capital does make sense in most other facets of your life, but it doesn't work like that in poker.
The preservation of your poker bankroll is critically important for your poker playing career. Now certainly, the objective is to grow that bankroll, but to do that successfully, you must adopt a get better get paid poker philosophy. What this means is that you earn your way up by playing correctly and profitably in the lower limits of sit and go tournaments. In fact, you are paying yourself for playing good poker as well as rewarding yourself to move up levels, once you've earned it.
Earning the right to move up in poker allows you to make mistakes at a level that you can afford and subsequently learn from them. You see, to be a good player in poker you must be able to be profitable at all levels you are currently playing. If you can produce profits at any given level than you are basically financing your own move up to bigger games and higher potential profits. Now, you certainly may plateau at a certain level, and that's fine as long as you recognize that this is the level at your most profitable at. It really doesn't matter as long as you're profitable. There's always multi-tabling as well, which can double or even quadruple your bottom line. Multi-tabling is actually tying a winning poker strategy to an hourly win rate.
The idea behind the get better get paid system, is that not only are you preserving your own poker bankroll investment, but you are using other players money to build on that and make even more. Truly, that is the mark of a successful poker player. You are using other players money to make money for yourself. In fact, other players are paying you to play poker.
In the lower limits you can achieve this playing in a rather standard book like fashion, because of the numerous errors committed by your opponents on a regular basis. If you move up a few levels however, the competition gets a little more serious. That's why you have to earn your way there by making consistently correct and profitable plays over and over and over again. If you work on building the habit of winning at a given level, you will find it just a matter of time before you move up and conquer the next level as well. This is because you have formulated a successful action plan for poker.
That plan may involve observing, learning, strategizing, conversing, about hands, mistakes, observations, profiling or whatever works for you when learning and improving your game. No matter what it is, bottom line is, if you cannot earn to move up a level in poker, and he don't deserve to. So save your money and stay at a level that you can beat, or find another game entirely.
Marty Smith has video reviews of all the online poker calculators so you can see them being used before you decide which one is right for you. He also has a tournament strategy video series that is free just for signing up.