1. I've been approached several times about how to manage a bankroll, and when to cash out. I'm going to address this question very heavily in this post.

    The following guidelines will assure with a high confidence level that you never go broke if you are +ROI in the games you are playing, and you exercise good game selection.

    Proper Bankroll Management Minimums:

    $65 - $1.10 STTs
    $87 - €1.10 STTs
    $90 - $1.10 18-man
    $128 - $1.10 45-man,
    $130 - $2.20 STTs
    $210 - $5.25 HU
    $215 - $3.30 STTs
    $270 - $6.25 HU
    $357 - $5.50 STTs
    $416 - $3.25 45-man
    $420 - $10.50 HU
    $422 - $6.50 STTs
    $440 - $2.20 MTTs, $2.20 180-man
    $495 - $3.30 90-man
    $585 - $6.50 18-man
    $596 - $5.50 27-man
    $715 - $11 STTs
    $780 - $12 STTs
    $820 - $21 HU
    $832 - $6.50 45-man
    $880 - $4.40 MTT, $4.40 180-man
    $975 - $6.50 90-man
    $990 - $11 18-man
    $1040 - $16 STTs
    $1080 - $12 18-man
    $1100 - $5.50 MTTs
    $1300 - $6.50 MTTs, $12 27-man, $20 STTs
    $1430 - $22 STTs
    $1440 - $16 18-man
    $1530 - $12 45-man
    $1560 - $24 STTs
    $1650 - $11 90-man
    $1755 - $27 STTs
    $1760 - $8.80 MTTs
    $1950 - $13 90-man
    $1980 - $22 18-man
    $2100 - $52.50 HU
    $2145 - $33 STTs
    $2160 - $24 18-man
    $2340 - $36 SNGs
    $2400 - $11 MTTs
    $2430 - $27 18-man
    $2470 - $38 STTs
    $2600 - $12 MTTs, $12 180-man
    $2970 - $33 18-man
    $3300 - $16.50 MTTs
    $3320 - $26 45-man
    $3420 - $38 18-man
    $3450 - $27 45-man
    $3570 - $55 STTs
    $3900 - $60 STTs, $26 90-man
    $4200 - $22 MTTs, $22 180-man
    $4250 - $105 HU
    $4860 - $38 45-man
    $4875 - $75 STTs
    $4950 - $55 18-man
    $5400 - $60 18-man, $27 MTTs
    $6600 - $33 MTTs
    $7200 - $36 180-man
    $7660 - $60 45-man
    $7800 - $39 MTTs, $52 90-man
    $8250 - $55 90-man
    $8500 - $210 HU
    $11000 - $55 MTTs
    $12000 - $60 MTTs
    $15000 - $75 MTTs
    $20800 - $109 MTTs
    $43000 - $215 MTTs
    $106000-$530 MTTs

    Clarifications:

    - For Double or Nothing SNGs, use the HU guidelines. At the higher levels, you will likely need more than 40 buyins due to diminishing ROI potential in these games.
    - For MTTs with less than 150 players, use the 90-man guidelines.
    - If your favorite game is not found on here, simply multiply the buyin by 40 for HU, 50 for FTP's Matrix SNGs, 65 for STTs, 90 for 18-20 man, 108 for 27-man, 128 for 45-man, 150 for 90-man, or 200 for 180-man or MTTs and add it to the list!
    - For satellites, to determine how many buyins you need, use the formula (2000/x), where x is the % of the field that gets paid. For example, if a satellite tournament pays 20% of the field, then (2000/20) = 100, so you need 100 buyins.
    - I will be crossposting this on my blog here so if you ever want to reference this, that's the easiest place to find it!
    - These buyin recommendations are very conservative and are intended to ensure that you make consistant money while your risk of ruin is extremely minimal. It is made for professional players who cannot afford to replenish their bankroll. Recreational players may feel free to cut these recommendations in half.
    - Satellites for must-play tournaments should only be played if you have enough in your bankroll for the target tournament, and you have an edge in that target event. There is an exception to this rule, below.
    - I didn't include any game with higher than a 10% rake, because I feel that those games are ripoffs.
    - If you are feeling good, don't play too far away from your highest allowable game. For instance, if your bankroll allows you to play $22 SNGs and you are playing $11 SNGs, you are not allowing yourself to make enough money.
    - If things have been rough lately, or you have lost confidence, there's no need to play at your highest allowable level. Get back that winning feeling by dropping down, and scoring some wins. You'll still be working towards moving up.

    Cashout strategy:

    Pay yourself according to volume, not results.

    Remove the following from your bankroll every time you play these games:

    HU: 2% of your buyin
    STTs: 3% of your buyin
    18-man: 4% of your buyin
    45-man: 5% of your buyin
    90-man: 6% of your buyin
    180-man/MTT: 8% of your buyin
    Also remove all Rakeback/Bonuses earned

    When your total cashouts reach the site's minimum cashout requirements, then cash out as soon as you can.

    Clarifications:

    - If you are a high buyin player, you may be playing a SNG where you are only expected to attain a very small ROI. In that case, divide your expected long-term ROI by 2 and cash out that much per game. For instance, if you are a $320 STT player who expects to make 2% ROI, cash out 1% ($3.30) per game played. That sounds small, but most of your income is coming from rakeback/bonuses anyway.
    - For hyper/superturbo SNGs, only remove 1.5% per game.

    Taking shots (optional):

    Then allow yourself 1/4 of your cashout money for entertainment. Your shot can be your entertainment. For instance, if you are a $5 player who would like to take a shot at a $50 game, then save up $200 in cashouts, and then withdraw $150. use the other $50 for your game. Obviously this is not optimal, but some people will explode their bankrolls at some point if they never get a chance to chase their dreams!

    Just one rule:

    - If you take a shot and win, cash out at least 75% of your winnings RIGHT AWAY. Don't try to use the shot to pad your bankroll. The bankroll management plan is already designed to keep you where you are going to make the most money per hour.

    When used together, over time, the Bankroll Management and Cashout Strategy will:

    - Keep you playing at or near your optimal level. You won't have to decide what games to play. The system will do it for you.
    - Ensure that you are beating the games at a high enough ROI to continue to play them. For instance if you maintain a 3% ROI at the $27 18-mans, although you are winning, you will be cashing out too much money (4%) to stay at that level, and the system will drop you back to the $16 level, where you will make more money per game.
    - Keep you from facing high % fluctuations in your bankroll so your mindset is good.
    - Have you making frequent cashouts no matter what your results are. This stops the endless cycle that some people have of moving up and moving down, but never cashing out!
    - Allow you to plan. Your income will be easily predicatable. For instance, if you are going to play 100 $27 18-mans today, you know you will cash out exactly $108, no matter how you do.
    - Encourage you to increase your volume.
    - Give you the opportunity to take an occasional shot at a bigger event and chase your dreams.

    I really hope this helps someone.

    Jen

    *edit - Please give your feedback. If you have any suggestions on how I can make this better, please let me know. My goal is to edit this to perfection, and update this to include whatever new popular games may come up.

    -------------

    Recent Updates:

    4/6/10, added €1.10 STTs to this list because very few sites have $1.10 games available. Kudos to Pokerstars for offering a micro stakes SNG without a humongous rake.

    4/7/10, changed Double or Nothing recommendations to reflect diminishing possible ROIs at the highest levels.
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  2. great work
     
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  3. wow this is really good. im backed so it doesnt apply to me but this definetly needs to be stickied or atleast put in the strategy archives right away. no knock on foxs bankroll management especially since thats what i used when i was grinding my roll but this is so detailed and awesome
     
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  4. Great post. Why aren't threads like this made a sticky?
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  5. im a little confused about the cashout strategy..... are you saying you should plan on cashing out .40$ for each 20$ HU SNG right? no matter each outcome?

    edit: sry i is slow
     
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  6.  
    Originally Posted by Iplaythabored View Post

    im a little confused about the cashout strategy..... are you saying you should plan on cashing out .40$ for each 20$ HU SNG right? no matter each outcome?

    Correct. The point of this is that it ensures that, to continue playing at this level, you are at least 2% ROI at the level you are playing. If you aren't acheiving at least 2% ROI, you'll eventually have to move down, and you will make you more money per hour.
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  7.  
    Originally Posted by pikappraider78 View Post

    wow this is really good. im backed so it doesnt apply to me but this definetly needs to be stickied or atleast put in the strategy archives right away. no knock on foxs bankroll management especially since thats what i used when i was grinding my roll but this is so detailed and awesome

    Thank you :)

    I agree that Fox's article is awesome! Fox, is definitely the man when it comes to bankroll management.

    Basic Bankroll Management, by Fox

    The one thing that it didn't address was the levels between 9-man SNG and MTT, and this guide was made with that intent.

    I had an old article on this subject, but it was, in my opinion, a bit hard to understand, and also a bit outdated (SNGs were easier to beat then):

    Jennifear's bankroll and cashout strategy for low limit sng specialists aspiring to move up
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  8. another great post from Jennifear :) keep it up
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  9. So Jennifear, I am a $52 Double or Nothing grinder. Say I played 50 in a day, according to your system I would then cash out $52 for the day (2% of my $2600 in buy-ins)? And I would do this regardless of if I made $320 on the day?

    So the built in motivator in this system would be that I would force myself to put in more volume so that my daily cashout could be bigger? 100 games/day I am cashing out $104, 200/day I'm cashing out $208, etc?
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  10.  
    Originally Posted by DntCaltACmBk View Post

    So Jennifear, I am a $52 Double or Nothing grinder. Say I played 50 in a day, according to your system I would then cash out $52 for the day (2% of my $2600 in buy-ins)? And I would do this regardless of if I made $320 on the day?

    Yes. This enables you to plan your income, move up when you are kicking butt, and minimize the emotional sting of a bad day, so that you'll play better, maximizing your results.

     
    Originally Posted by DntCaltACmBk View Post


    So the built in motivator in this system would be that I would force myself to put in more volume so that my daily cashout could be bigger? 100 games/day I am cashing out $104, 200/day I'm cashing out $208, etc?

    Yes! One of the points of this system is to motivate you to play more volume, and you clarified this in your post very well. You decide how much you are going to make today.
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  11. thanks jen! love when you make posts like these
     1
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  12. is there any way you can make it a higher in regards to stakes for mtts. id like to have this saved on my computer for if i ever dump backing and fly solo.
     
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  13. I'll add a caveat to this for the micro-grinder/beginner.

    If you drop below $65, don't just blow your bankroll. You can still exercise good bankroll management by playing low limit cash games, and playing a tight style. With $50, you will not go broke playing .01/.02 NLH with a tight style.

    If you have less than $65, it's pretty much impossible to use solid bankroll management while playing SNGs.
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  14.  
    Originally Posted by pikappraider78 View Post

    is there any way you can make it a higher in regards to stakes for mtts. id like to have this saved on my computer for if i ever dump backing and fly solo.

    Done.

    - If your favorite game is not found on here, simply multiply the buyin by 40 for HU, 50 for FTP's Matrix SNGs, 65 for STTs, 90 for 18-20 man, 108 for 27-man, 128 for 45-man, 150 for 90-man, or 200 for 180-man or MTTs and add it to the list!
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  15. Dear Santa,

    All I want for Christmas this year is more Jennifear.

    Thank you,

    Scott
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  16. This is pretty genius for people who can follow it. For me I would never be able to follow it because it would be too big of a chore. One question would be does multi-tabling have any effect on this?
     1
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  17.  
    Originally Posted by fly44 View Post

    This is pretty genius for people who can follow it. For me I would never be able to follow it because it would be too big of a chore. One question would be does multi-tabling have any effect on this?

    This works with multitabling because these BR management guidelines are conservative. Therefore, so long as every time you enter a tournament, you have at least the minimum buyin, you'll be fine.
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  18. That Jennifear is so Hot right now!

    Keep up the good work, Jen
     
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  19. Remove the following from your bankroll every time you play these games:

    HU: 2% of your buyin
    STTs: 3% of your buyin
    18-man: 4% of your buyin
    45-man: 5% of your buyin
    90-man: 6% of your buyin
    180-man/MTT: 8% of your buyin

    For those of you that suck at math:

    HU:
    $5.25 = $.10
    $10.50 = $.20
    $21 = $.40
    $52.50 = $1.05
    $105 = $2.10

    STTs:
    $1.10 = $.03
    $2.20 = $.06
    $3.30 = $.10
    $6.50 = $.19
    $11 = $.33
    $12 = $.36
    $16 = $.48
    $22 = $.66
    $24 = $.72
    $27 = $.81
    $33 = $.99
    $55 = $1.65
    $60 = $1.80
    Anything above $60, please note the clarification regarding high buyin SNGs

    18-man:
    $3.30 = $.13
    $6.50 = $.26
    $11 = $.44
    $12 = $.48
    $16 = $.64
    $22 = $.88
    $27 = $1.08
    $33 = $1.32
    $55 = $2.10
    $60 = $2.40
    $109 = $4.36
    $118 = $4.72

    45-man:
    $3.25 = $.16
    $6.50 = $.32
    $11 = $.55
    $12 = $.60
    $16 = $.80
    $22 = $1.10
    $26 = $1.30
    $27 = $1.35
    $33 = $1.65
    $55 = $2.75
    $60 = $3.00
    $109 = $5.45
    $118 = $5.90

    90-man or small field MTTs with less than 150 players:

    $5.50 = $.33
    $6.50 = $.39
    $8.80 = $.52
    $11 = $.66
    $12 = $.72
    $16 = $.96
    $22 = $1.32
    $26 = $1.56
    $27 = $1.62
    $33 = $1.98
    $55 = $3.30
    $60 = $3.90
    $75 = $4.80
    $109 = $6.54
    $215 = $12.90

    180-man, or MTTs:

    $5.50 = $.44
    $6.50 = $.52
    $8.80 = $.70
    $11 = $.88
    $12 = $.96
    $16 = $1.28
    $22 = $1.76
    $26 = $2.08
    $27 = $2.16
    $33 = $2.64
    $55 = $4.40
    $60 = $4.80
    $75 = $6.00
    $109 = $8.72
    $215 = $17.20
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  20. This is a great contribution. Thanks!
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  21. I got a few PMs asking me to explain how I would apply this strategy to cash games.

    So, without further ado:

    For the bankroll management part:

    - For limit games, you need 550 big bets
    - For no-limit games, you need 45 buyins.

    For the cashout part:

    - Figure out your hourly expected rate. Important: BE VERY CONSERVATIVE!
    - For every two hours of play, remove your hourly rate from your bankroll.

    Example:

    You make $8/hr playing 2-4 NLH. You 4-table, so you expect to make $32 on average. Pay yourself $16/hr.
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  22.  
    Originally Posted by drobertson027 View Post

    This is a great contribution. Thanks!

    +1.

    Epic thread. Happy Holidays Jenn.
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  23. GJ Jen
     
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  24.  
    Originally Posted by blingATL View Post

     
    Originally Posted by drobertson027 View Post

    This is a great contribution. Thanks!

    +1.

    +2
     
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  25. This will probably go down as the greatest br management advice post ever.

    When you say they should cash out everytime they play. .do you mean on like a weekly basis?
     
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  26.  
    Originally Posted by DoubleS00ted View Post

    This will probably go down as the greatest br management advice post ever.

    When you say they should cash out everytime they play. .do you mean on like a weekly basis?

    That's up to you, but what I suggest is to build to the minimum allowable, and then do it.
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  27.  
    Originally Posted by DoubleS00ted View Post

    This will probably go down as the greatest br management advice post ever.

    I agree. This should probably be stickied or made into an article for quick reference. Very nice work Jennifear.
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  28. jennifear, do you class Stars Double or Nothings in with normal STTs or advise a less conservative approach due to less variance?

    IMO 50 Buyins is more than conservative for these
     
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  29. N1 Jen.

    My wife spent my last cashout on clothes so she'll be delighted to see this.
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  30.  
    Originally Posted by Nuggett View Post

    jennifear, do you class Stars Double or Nothings in with normal STTs or advise a less conservative approach due to less variance?

    IMO 50 Buyins is more than conservative for these

    I used 40 buyins for these.

    From the post:

    Clarifications:

    - For Double or Nothing SNGs, use the HU guidelines.
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