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Avoiding The Poker Money Management Woes
- 11-18-2007
Your credit card and your poker bankroll have some things in common; neither should be taken lightly and both should be well managed to avoid falling into a really dark economic pit.
When you’re beginning at poker you may be blind to the funds necessary for playing for extended periods of time. Poker by nature is a fast-paced game where money is exchanged in the blink of an eye. The possibilities are that you will either win or lose quite a bit in the first three to fours hours of play.
As a general rule, try to start out at very low limits to get a feel for the games and to minimize losses. Don’t rush it, lay down your strategy and extend your play by being smart with your bankroll.
Build it up first, before moving to a higher limit. Don’t make the mistake of advancing to a higher limit tournament with your (insufficient) bankroll; if you do, you are practically guaranteed to lose all your money in a heartbeat.
The main reason is that when you’re moving to higher limits, you probably not only have to adopt different playing styles to be profitable, but you will also be up against players who could be significantly stronger, putting you at a disadvantage..
You also need to consider the risk of playing too passively. Not having a sufficient bankroll tends to produce ultra conservative play; something that’s not too advisable at these levels.
When you’re ready to try a higher limit, consider doing so a short period with a smaller bankroll, this allows you the possibility to get out if it’s not working out for you. If your goal is to have an enjoyable time playing poker, you don’t want to sabotage your experience by getting crushed for not managing your bankroll correctly. ÂÂ
Learn the basic strategies and you have a very good chance of making a small profit. You are most likely playing poker for recreation - make sure you give yourself the chance to enjoy yourself in the long run.
When you’re beginning at poker you may be blind to the funds necessary for playing for extended periods of time. Poker by nature is a fast-paced game where money is exchanged in the blink of an eye. The possibilities are that you will either win or lose quite a bit in the first three to fours hours of play.
As a general rule, try to start out at very low limits to get a feel for the games and to minimize losses. Don’t rush it, lay down your strategy and extend your play by being smart with your bankroll.
Build it up first, before moving to a higher limit. Don’t make the mistake of advancing to a higher limit tournament with your (insufficient) bankroll; if you do, you are practically guaranteed to lose all your money in a heartbeat.
The main reason is that when you’re moving to higher limits, you probably not only have to adopt different playing styles to be profitable, but you will also be up against players who could be significantly stronger, putting you at a disadvantage..
You also need to consider the risk of playing too passively. Not having a sufficient bankroll tends to produce ultra conservative play; something that’s not too advisable at these levels.
When you’re ready to try a higher limit, consider doing so a short period with a smaller bankroll, this allows you the possibility to get out if it’s not working out for you. If your goal is to have an enjoyable time playing poker, you don’t want to sabotage your experience by getting crushed for not managing your bankroll correctly. ÂÂ
Learn the basic strategies and you have a very good chance of making a small profit. You are most likely playing poker for recreation - make sure you give yourself the chance to enjoy yourself in the long run.