Money Management

How To Manage Your Money And Bankroll

Too many novice and beginning poker players fail to properly estimate the funds required to play poker for an extended session or period of time. The money that you can afford to use for playing, and possibly lose, which you have set aside for poker is commonly referred to as your poker 'bankroll' .

Because poker is a volatile gain, chances are good that you will either win quite a bit of money or lose quite a sum when playing for a period of 3-4 hours. This is especially true when playing online poker because the game moves much faster than offline poker games.

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Beginners should try to begin playing at the low limit tables in order to get a real feel for the games as well as to avoid significant losses. Frequently, new players begin with too small a bankroll to play at certain limit for a lengthy session. If you are a beginning, you may be thinking the same way so the guidelines presented below will help you determine the bankroll you need to have on hand for poker play.

That, however, isn't the only trouble. Many players, even experienced ones, make bankroll errors. One major error is to treat your bankroll as if it were a tournament buy-in. In order words, if you have played for a few weeks and are at a break-even point or even a little on the side of profit, you might think advancing to a higher limit with your whole bankroll would be a good idea, potentially repeating this behavior if you are successful at the higher limit. This is one way to almost certainly lose your whole bankroll. Why ? The reason are simple. You are placing too much pressure on too little funds and playing at limits that you have not fully become proficient with - different limits require different playing styles to be profitable. Also, your play will be against player that are probably much ber players than you. And you face the risk of playing passively at these higher limits because you may be gun shy when you can't really afford to lose and don't have the experience under your belt to create confidence. Avoid this behavior by playing at reasonable limits for a minimum of 200 hours at a level at which you are doing well or, at worst, not losing much. If you choose to attempt a higher limit, do so for a short session with only a small portion of your bankroll to test the waters. If things do not go well for you, you can get out without losing all your money. Poker is supposed to be played for fun, so play in a recreational manner that will give you the opportunity to enjoy the game for more than only a week or a month or two.

It is fortunate for the few professional poker players that exist that most players are simply playing for the fun of the game. If you are not 100% focused on winning but play just to have a good time, you are a member of the 95% of players who are amateurs and happy to simply play for fun. If this describes you, then have as much fun as possible at low limit tables. You can destroy the fun of your hobby if you begin trying to play at tables with high limits. There is, however, a quick means of breaking even or winning when playing poker. You simply have to learn all the basic strategies and play with a tight/aggressive style which gives you a great chance of making a little profit at the game. This is because the majority of players don't really worry about playing to win since they are simply playing to amuse themselves.

There is an exhaustive group of poker strategies presented on this website that will help you learn to play the game well. Adopt these strategies when you begin playing and implement when at the lower limit tables; you'll see that your game improves significantly in as little as 50-75 hours of play and you might even begin to earn a profit by the time you have practices these techniques for 100 hours or so. It is a good idea to review the strategies several times during those first 100 hours of play - at least two times - so that you have a grasp of them that will permit you to use the right strategy in the right situation. Then, practice, practice, practice!

Poker Strategy Guide:

Strategy Article 1. Poker Bluffing

Strategy Article 2. Key Tips & Skills

Strategy Article 3. Going On Tilt

Strategy Article 4. Poker Pot Odds

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