I started playing poker again this summer, after a year or two of staying away (for reasons that had actually nothing to do with poker - I just didn’t get around to playing it for a long time). So, investing $50 in myself, I went to work. In fact, looking for advice on how to most efficiently build my bankroll was how I ended up at CC (check the article section!) There are plenty of advices around the internet on how to build your bankroll. Bonus whoring, playing within your limits, etc. There is also a lot of good advice when it comes to not mixing up your bankroll with your household budget - money that is supposed to pay mortgages should not be gambled with, for instance.

Now, no advice is applicable to everyone, this much is clear. Having ~300BB worth of a bankroll if you’re playing limit poker is a guideline, not a requirement. I recently saw someone play $5/$10 with his massive bankroll of $90. He actually did extremely well and got out of there with $700 - good for him! But I wouldn’t recommend that sort of hit-and-run to anyone, unless you’re either a) gambling in the lottery sense, or b) have a lot of money, and no real concept of a “bankroll”, because you don’t separate between spending money and poker money.

There are two reasons why I think having a minimum of 300 BB is necessary for me, personally - perhaps not for everyone, but at least for me.

The first reason, and the most important one, is that when I move up in limits (next step for my baby bankroll is $2/$4), I want to make sure I can suffer the bad beats without even blinking. If losing 10BB in a pot makes you for even a moment consider how much money that “actually” is, you’re probably out of your league, bankroll wise. And bad beats happen, cold streaks happen. You can lose a large portion of your bankroll in a single bad session, even with 400BB in it.

See, there’s always the possibility of turning back and go down in limits, if you get burned at the higher limits (I’ve seen this recommendation as well - the “give it a shot” one). Perhaps you’ll lose half your bankroll, but then you can go back and rebuild, no harm no foul. Or, you’ll get the cards you deserve and you’ll be able to move up in limits a lot faster. The advice is logical.

But it’s not psycho-logical, at least not for me. If I move out of my league, and I suddenly consider how much money I’ve just lost, I might not have the discipline to return to my old limits. I’d like to make back what I’ve lost, and the fastest way to do that is playing at the higher limits. But suddenly, I’ve gone from “taking a shot”, to “playing where I don’t belong.”

The second reason is that I’m far from a full-fledged poker player yet. I still have a lot to learn, and I’m not playing poker to make money - I’m playing poker for the accomplishment of being a winning poker player (and taking care of my bankroll is a part of that). So while taking shots might drastically increase the speed in which I move up in limits, I’m also here to learn. Slowly moving up in limits means more hands played before I get there, and no poker book in the world will outweigh the sledge hammer of experience.

Finally, I’d like to suggest to anyone that’s serious about building their bankroll to - regardless of taking shots or snailing your way to the top - make scheduled cash-outs, if you’re a winning player. Withdraw some percentage of your winnings, and spend it on yourself - ideally on buying poker books. My own cash-out percentage is 50% - I cash out $100 of every $200 I build, but your mileage may vary.

Best of luck,
FP

PS. I wrote an article on life as a beginning poker player a while back - feel free to have a look: http://www.cardschat.com/new-player-advice.php