Online poker is an industry becoming more and more popular at an alarmingly speedy rate. It simply seems as if the temptation to challenge others worldwide while in the comfort of our own homes is too much to resist, and it’s completely understandable why. However, with a large influx in new online poker users, educating the importance of having a bankroll and bankroll management has become more important than ever. Here are some tips on how to manage your bankroll in casino.
You Must Have a Bankroll
If you have any ambitions on being anywhere near a half-serious poker player you will need a pool of money set aside dedicated to playing poker with. This is what your bankroll is: the money you set aside as poker capital. You MUST have a bankroll. There are no two ways about it.
I’m always playing Poker Texas Hold’em and sometimes go on a prolonged bad run, but due to having my bankroll to tell me when enough is enough, it never really injures my personal finances.
Managing this Bankroll
The first tip on managing your bankroll for beginners is to never invest more than is ‘fun’ to lose. This will all depend on your financial situation and subsequently the strength of your bankroll of course. If you have an abundance of money to splash your bankroll may contain a few thousand. Others’ bankroll may be a more humble £100, or even a £50 or £30.
Considering your bankroll should be no more than is ‘fun’ to lose, it should be a very small portion of your overall wealth; especially for beginners.
Your bankroll should progress with you
As you become more and more of a seasoned player, your bankroll should steadily increase in correlation to your progress. Therefore, bankroll considerations will of course be very different for a skilled and experienced proven winner poker player. These types of poker players should be able to comfortably bank 200 large bets at the limit they play. For example, if you play £3-6, you should have an £1200 roll. Your target roll for £5-10 should be £2000, to use another example. This will prevent a bad run causing you to blow your entire bankroll (which I’m sure you do not want).
You need to be reasonable about potential losses and this is the secret behind managing your bankroll.
Keeping a diary of your sessions is something that all poker players should do and its importance cannot be stressed. This will allow you to track whether or not you’re a losing or winning player. You can thus work out whether or not you ought to lessen your bankroll due to being a losing player or increase it in correlation to your success.