Poker Strategy: Part2
One of the terms you will here very early on is bankroll management and it is key to your survival as a poker player. Your poker bankroll is simply the money you have deposited to play poker online. There are some rules that you should obey to ensure you stay within the limits of your bankroll. Ignore them at your peril, and remember the adage:- “don’t gamble what you cannot afford to lose”.
Bankroll management is probably the most important part of your poker strategy. It determines whether you should be playing at 50cent buy-in tables or $50 buy-in tables and it determines the maximum bet you should place. If you make looking after your bankroll the number one priority when playing poker, it will have you playing tight and avoiding making rash decisions.
Playing Within Bankroll Limits
The golden rule is to have a bankroll that is at least 20 times the amount of the buy-in for the table, minimum! If you just lost a game and your bankroll is now 20 times less than the buy-in, then you need to move to a cheaper table. Suck it up, admit defeat at that level and rebuild your bankroll lower down. Stay playing at a buy-in level that is too high and your bankroll will disappear in a very short space of time.
Playing within your bankroll limits gives you a buffer against a bad run of cards, of luck or whatever divine force you believe governs the outcome of a hand. As a general rule of thumb, the higher the buy-in on a sit-and-go, on any table for that matter, the better the class of opponent.
What to do if you burn through your bankroll
Stop playing, NEVER EVER deposit more funds if you have just run out of bankroll, that is a surefire way to simply empty your bank account in double quick time. In theory it shouldn’t happen, if you stick to playing sensibly, your bankroll should never get to zero. Even if you are down to $20 you can still buy-in at $1 and play 20 games.
If you think you are playing tight, and making all the right moves but have lost your bankroll then you need to go away, look at your strategy and practice. Beware however of online practice games (I’m talking about real opponents not computer controlled software) in these games people are far more likely to make ridiculous bets and sometimes its tempting to do the same and you end up learning nothing.
Cash out or Carry on?
You shouldn’t ever need to cash out your poker bankroll, what’s the point? Only when you have some real money, like six-figures, do you cash out and buy that Lambo or boat or whatever. If you need to cash out to pay bills, then you are playing with money you cant afford and should stop. Poker is tough, it is not a way to get rich quick. It may take a few games to learn, but a lifetime to master. Pro players spend 18hrs a day grinding through games to make their dough and you think you’ll hit big tomorrow.
Chill out, control your bankroll. Get this locked into your psyche, make it second nature then you will be able to concentrate on becoming a better poker player.