[KurtSF]

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Bankroll management is for winning players. If you don't have a winning track record or similar evidence, then you should set a budget. You should not worry about bankroll management yet.

While it can take 20k hands to be confident that you are winning from the resuls alone (usually fewer hands at microstakes, and more hands at higher stakes), you may be confident that you are a winning player long before then if you pay attention to more than the results.

Once you have established that you are a winning player, the bankroll you need depends on your win rate, standard deviation, and personal risk tolerance and ability/willingness to move down when you hit a bad streak. A good formula to use is c * SD^2 / WR. c=2 is generally considered aggressive, while c=4 is conservative. Since you are dividing by your WR, if your win rate is only half as much as someone else, then you need a bankroll that is twice as much in order to have the same level of safety. If you have only just established that you are a winning player, then you should be conservative with your estimates of your win rate, and you should plan to revisit your bankroll requirements later.

If you plan to withdraw all of your winnings, you need a much larger bankroll than if you plan to leave much of your winnings in.

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Yeah, that's what I meant! Thanks pzhon, for taking the time!


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Typically, you will need far fewer BB in softer games than you do in tougher games for the same level of safety. Thus, no fixed number of BB is generally applicable.

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This can be true, but often is not. The variance can be really sick in soft games, so even if your winrate is higher the increase in standard deviation can more than make of for it. Depending, of course.