Managing your poker bankroll should be at the top of every poker players list of priorities, and with the right plan you can reduce the risks of losing a lot of money.
Here we will discuss the key elements that make up a successful poker bankroll and provide you with useful information so that in time will hopefully make you a nice bit of profit.
Play Within Your Bankroll
Once you set aside a certain amount of money you should always play within those limits. Playing outside your budget will leave you with less money to play later on when you hit a hot run of cards.
Also, never under any circumstances take money from your bankroll out of play money. Only take the amount of money you can afford to lose, and never ever take money away from your bankroll to allow you to protect your play from an unlucky streak of cards.
There are two ways to view your current playing balance, the amount of money you have in your bankroll and the amount of money you are risking in your bankroll.
View Your Bankroll
You should always view your bankroll as the total amount of money you have available to play poker, this includes both winnings (which we will get on soon) and what your poker account balance is.
To view your bankroll you should get updated info every time you sit down to play a table, earn or win a pot. In online poker this is as easy as using a poker calculator to keep a track of your play and adjust accordingly.
If you are multi-tabling (playing at more than one table at a time) then you need to figure out the average number of tables played per hour by keeping track of the tables you are currently playing at.
You should always think about how long your bankroll will last. You only want to commit too much of your bankroll to a single table or sit at a table that you are not familiar with.
If you are not going to be long in a particular poker room then you should pick a game that is less likely to be too tough to beat.
Pick the Game with the least Tilt
Online poker is renowned for its slow and sometimes boring games. For those who like a little action and don’t mind sitting for a long time, Sit and Go poker games can be an ideal option.
These games give you the opportunity to play quickly and without the investment of a lot of money. This is a great option as you can get to a table as fast as you want to and then leave if you want to.
Or, on the other hand, if you like the slow slow and cautious approach to poker, you might prefer to play Low Stakes Limit Holdem games.
These games give you the opportunity to take your time and play patiently. Low stakes games are available at all online poker rooms and, if you like, you can play in tutorials and practice rooms before playing with real money.
Play at the right limit.
If you are new to poker, you should start at the lowest limit until you get a feel of the game. In No Limit Holdem games, the betting limit is the smallest. So in No Limit games the stakes are considerably lower than in Limit games.
In Limit games, the betting limit is normally a little higher. You can find stakes that are quite high, but at the same time there are stakes for very low stakes. This is an opportunity to play with very small stakes until you get some better hands.
Read the Rules
You should read the rules carefully to understand the types of hands that are allowed and what the card values are. Before playing, you should also read the instructions on the button. Usually, there is aagedituation rules, so you should ask before you play.
The Card values are given in order of precedence, starting from Ace to Ace, King to King, and the Queen to Queen. Ace is the highest. For instance, if you have Ace as the first card you must place the blinds’ chips in the ‘Suited’ section. The sequence of highest to lowest card value is Ace, King, Queen, Jack, 10, 9, 8, 7, 6, 5, 4, 3, 2.
If you have nothing, you must place the blinds’ chips in ‘Unsuited’ section.
When the game begins, the pre-flop starts and the dealer deals two cards to each player. On the upper half of the table, you should see the ‘Dealer button;’ this corresponds to the person whose name has a circle in the center of the table. This person is the dealer, and the game begins when the dealer button is moved to the player with the dealer’s chips in the ‘Dealer box’.