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 you can manage your bankroll effectively.
Play Within Your Bankroll
Remember that poker is a game of patience and discipline. And it is important to always play within your limits in a game that you feel comfortable playing. Playing above or below your bankroll can have the potential to overcome any poker flaws in your game. However, it is important to always start a bankroll at a level that you can manage comfortably.
Always remember that if you are making a switch from cash games to tournament play you need to make sure you are in the right emotional state. Playing cash games can be very emotionally draining and can cause you to lose a lot of money before you have even begun to practice tournament strategy. Be sure to give yourself enough time to really enjoy the game of poker. Playing tournaments at a higher buy-in can be very demanding on your bankroll and you may be prone to making mistakes and losing money in the early stages of the tournament.
Take A Number Of Small Bets
You don’t need to make a number of large bets to play successfully in sit and go tournaments or a cash game. Most winning players start with a bankroll of about 200-300 times the big blind. About 10-15% of your bankroll should be used for each level. If the bankroll reaches about 300-600 or so, you should move down a level. There is a proper raise to 4 times the big blind for each level.
Exercise Self Discipline
The first move in winning poker is to set a financial limit on your spend and stick to it. While your bankroll is low, you should still learn how to play poker, especially in cash games. However, when your bankroll reaches about 500-600, you need to take a step back and re-evaluate your bankroll strategy. A bankroll of 500-600 is a telltale red flag that you are ready to fold and never play poker again, if you can’t stop gambling. Spending more than you should in poker is the number one reason why most poker players go broke. Avoiding to reach your goals is the second most important reason.
The number two reason is that you just got here! Begin to concentrate more on the big picture, the long-term picture, rather than moment to moment scoring.
The number three reason is when you are on a bad run and streak, it can consuming and damage your psychological well being. No matter what your poker strategy, if you keep focused on the fact that it is slowly killing your bankroll, and pulling money out of your pocket that you can’t afford to lose, you will not be able to overcome the streak that is slowly eating away at your bankroll.
The number four reason is that you won’t be able to control yourself if you are losing and your bankroll is getting low. Normally you want to be somewhere in the middle of these four reasons because although you have a bad run, you can still win in the end.
Taking a week or two off to rest your mind from MPO500 will allow you to become a better poker player. When you are further established you can play at higher levels. This brings in more money and for those players who play higher limits, a better return on investment.
By creating a well disciplined poker plan, you will control your bankroll and you will be able to focus on other aspects of your game and your poker strategy. You can’t do without reading up on important aspects of poker as it will increase your success beyond all measure, both at online and live poker play.