It is the most common bankroll question in poker, and most answers are wrong because they flatten the trade-offs into one number. The honest answer: 20-40 buy-ins for live cash, and the right number depends on your win rate, your variance, and whether poker income pays your rent.
The standard ranges
- 20 buy-ins — aggressive. Fine for confident winning regulars willing to drop stakes immediately during downswings.
- 30 buy-ins — moderate. Recommended baseline for most live cash players.
- 40+ buy-ins — conservative / professional. Appropriate when poker income is essential.
For $2/$5 with a $500 max buy-in, that maps to $10,000-$20,000. The aggressive end works only if you genuinely move down when bankroll drops below threshold — most players will not, and that is the failure mode.
The variable everyone ignores: standard deviation
Two players with the same realized win rate can have wildly different risk-of-ruin profiles depending on their standard deviation. A tight full-ring NLHE regular runs SD around 80 BB/100. A 6-max PLO player runs SD around 150. Same nominal bankroll, dramatically different ruin probability.
Variance is what makes "20 buy-ins" mean different things at different formats. The honest version of the rule is: target risk of ruin below 5%, with the math accounting for your actual standard deviation. Read the risk of ruin guide for the formula and worked examples.
When 20 buy-ins is actually fine
20 buy-ins works for a player who:
- Has a realized 5+ BB/100 win rate over 50,000+ hands at the current stake.
- Has external income — poker is supplemental, not survival.
- Will move down within one session of dropping below threshold, no excuses.
If any of those is false, 20 buy-ins is too aggressive. Step up to 30 minimum.
When 40+ buy-ins is appropriate
40+ buy-ins is the right answer for:
- Full-time professional players whose poker income pays rent and bills.
- Players with families or financial obligations that make "going broke" catastrophic.
- Players who tilt at higher stakes and need a financial buffer that lets them play their A-game without scared money.
- PLO and mixed-game players (50%+ higher variance than NLHE).
What about online cash?
Online cash plays more hands per hour, which compounds variance per hour. Standard guideline: 30-50 buy-ins. Multi-tabling pushes the upper end. NL100 ($100 max buy-in): $3,000-$5,000. NL200: $6,000-$10,000.
The practical rule
Pick your stake, pick your aggressiveness, multiply, and add a 10-20% buffer. Recalculate when your bankroll changes by more than 5 buy-ins. Move down the moment you drop below threshold — that one rule does more for survival than any bankroll-sizing trick.
The free StackEdge bankroll calculator does the math for you. The complete bankroll management guide covers when to move up, when to move down, and the math behind it.
