Joe the Pro

I think this guy must have been BuckLox's roommate at the Poker Academy.

Episode 1:

The Life Of A Professional Internet Poker Player - video powered by Metacafe

Episode 2:

Episode 3:

Episode 4:

Bankroll management

I read a lot about bankroll management, but didn't pay too much attention since I do not rely on my poker income/winnings (losses to be more accurate) to support my living expenses. Basically, I am a recreational player that plays for entertainment and the thrill of competing. I still tried to avoid have 50% of my current bankroll on the tables at cash games or SNGs. Although, I have put 100% on the line on more than one occasion.

I originally looked at true bankroll management strategies as an issue only for pro or semi-pro players that didn't have any real access to other sources of income, like a day job or second job. In other words, bankroll management was only a real concern when you could not readily replace your bankroll if you lost it all. However, the recent changes in the gambling legislation make it difficult to replace lost or depleted bankrolls. Thus, bankroll management has taken a more critical role in which games I choose to play, at least while sober.

That said, I think you can separate it into two categories - bankroll management for those who need poker income to support living expenses and bankroll management for the recreational player who can lose it all with the only consequence being a brief hiatus from the virtual tables until the lost bankroll can be replaced.

My two cents for the pro/semi-pro:

- don't buy into a ring game for more than $10 (limit or $5 no limit - as long as you have at least $100) or 10% (limit or 5% no limit) of your bankroll, which ever is larger. This includes single table SNGs except the use the limit numbers no matter what type of tourney.

- don't buy into a MTT for more than $5.50 (provided you have at least $100) or 5%, which ever is larger.

For recreational players, you should be able to double the amounts.

Keep in mind that I assume you know how to play the game at more than a beginner level. Obviously, you shouldn't be a pro/semi-pro if you are a beginner. For the recreational player, you can still use these guidelines if you want, but expect to go broke before you graduate to intermediate level.