Showing posts with label Money Management. Show all posts
Showing posts with label Money Management. Show all posts

Friday, 30 November 2007

Poker Strategy. Bankroll and money management

There is a quick way to break even or win in poker.
By learning the basic strategies and adopting an aggressive style you have a good chance of making a profit.
The reason is that, precisely as mentioned, most other players don't really play to win.


Many beginners underestimate the funds necessary to play poker for an extended period of time. The money you can afford to potentially lose and have earmarked to your poker game is called your poker "bankroll." Poker is inherently volatile and chances are that you will either win or lose quite a bit already by playing three to four hours - in particular if you are playing online, as the games are so fast-paced.

So, as a beginner, try to start out playing at very low limits to get a feel for the games and to minimize losses. The vast majority of new players starting out at poker grossly underestimate the bankroll needed to play at certain limits for a longer period of time. You may be an exception, but just in case you're not, it might be wise to take a look at the bankroll guides below.

Many experienced players make bankroll mistakes as well. A cardinal mistake is to treat your bankroll like a tournament buy-in. This means that as soon as you have played for a couple of weeks and are at break-even or are up a little bit at one limit, you then advance to a higher limit with your entire bankroll and so it continues. If you do this, you are almost guaranteed to eventually lose all your money.

The reasons are that you are putting too much pressure on your insufficient bankroll and are playing at higher levels where you not only have to adopt different playing styles to be profitable, but also are up against players who are probably significantly stronger than you.
In addition you face the risk of playing too passively at the higher limits as you can get " gun shy" when you cannot afford to lose and are inexperienced. Try to avoid these rarefied heights for now. Keep playing at reasonable limits for at least 200 hours of play during which you're either doing well or at least not losing too much. If you decide to try a higher limit do so for just a short period with a smaller test bankroll and get out if it is not working well for you. You are most likely playing poker for recreational purposes - make sure you give yourself the chance to enjoy yourself for more than a month or two!
Luckily for the few professional players out there, most players play for fun. Try to enjoy yourself as much as possible at as low limits as possible.
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