Managing your bankroll is a key point to check when deciding to quit playing poker and it is very important to the probability of long term success.
Bankroll management is defined as the total money you have to play poker plus the money you have set aside to bankroll up. It is your tip to always leave your bankroll intact and always have multiple payouts lined up.
In other words, if you have $100,000 set aside to your bankroll, you definitely should have multiple $100,000 deposits. The probability of having to redeposit every time you win a hand or hit a big pot is not in your favor.
Plus, you want to play in a large enough pot to minimize your variance. If you think you can win two $50 pots in a row, you shouldn’t be playing in the first place. Under no circumstances should you ever play in a pot with less than 20 big blinds.
The reason is that you have far less variance with higher limits, where you have 50 big blinds or 100 big blinds in a 10-player game. With 2-4 BB, the variance is far higher. You are going to have days where you raise three times the big blind and get re-raised all-in, regardless of how big the raise was.
Also, when you have days where you get four callers, two of them may have hit a draw card, while the other caller may have been betting a bluff after his draw hit. Playing in a pot which is heavily weighted in your favor is one of the easiest ways to lose a lot of money.
You do not want to make the mistake of playing in a bola88 where there are a lot of raises. As a rule of thumb, you should have a limit to 5 bb or 10 bb raises in the same situation.
The truth is that the money you spend to get to a higher limit is your own money. Do not use other persons money to pay your way.
If you start to lose, do not turn to online poker as your fix. The people who play online poker are usually suckers and they will not understand what you are talking about.
They are easier to read than you will ever understand. And their easy to start playing with the big money even if you do not have a good hand. As a rule of thumb, you should never play with more than 10% of your bankroll on any table.
Sure, you can bluff and get away with a lot here. But if you ever want to have some consequence for your raises, you need to play in a tough limit.
Easy On The Bankroll
You don’t need to monitor any economic indicator to know that you are risking your money in poker.
So many of us just jump into a game online with about $100 and go on to have fun. Subsequently, we lose money.
That is really rather unprofessional. While you can expect to lose a small portion of your money, don’t assume that $100 is going to be going down the drain quickly.
You need to have enough bankroll to manage your money for the stakes you are playing. Then you need to have enough money left over to continue to be a winning player.
You can either handicap yourself or do some research and buy yourself a professional handicapper to do this for you. The handicapper will take the time to look at all of the factors to help you make a more informed pick. Plus, you can get tips everyday of the picks that the professional handicapper makes.
This is probably the best piece of advice that you can get for any player, professional or otherwise. If you take anything away from this article, I hope that you will learn to play with enough disposable income to last your entire poker career.