You already found situs poker online terbaik and honed your poker skills but you still find yourself broke. If this frequently happens, you must accept that you lack one vital skill to become a successful poker player – bankroll management.
You should understand bankroll management so you will know the rules and apply them to become a successful poker player. Basically, bankroll management is the amount of money you have set for poker, which is something that you are prepared to lose.
Before you start enjoying the benefits of situs poker online terbaik, you should understand that bankroll management could help ensure that poker is profitable as well as enjoyable. You should follow the following rules by heart:
1st Rule: Determine the ideal starting bankroll
The first rule is to determine the ideal starting bankroll. Many wonder what an ideal starting bankroll looks like. You should know that there is no right answer. The reason is simple: people have different limits.
When you determine your ideal starting bankroll, you should base it on the chance that you will lose. In simple terms, you should not deposit more money than you are prepared to lose. Your goal here is to play well and follow bankroll management so it will eventually grow. In the end, you will never have to deposit any more money.
2nd Rule: Learn how much to risk
After determining the ideal starting bankroll, the next rule is to set limits. When setting limits, it will depend on what game you will play. For instance:
- Cash games: for cash games, knowing when to stop is a difficult decision, especially during a winning session. If you play pot-limit and no-limit Hold’em, you should limit yourself to 20 buy-ins. Another way is to put a maximum of 5% of the entire bankroll on the table any one time.
- Tournament games: for tournaments, you should limit yourself to 2% of your bankroll for one buy-in. This means that if you have $500 in your account, you should consider tournaments that are less than $10. This principle can also be applied for sit-n-go.
3rd Rule: Know how to increase your bankroll
You are already familiar with the ideal starting bankroll and how much to risk, the next rule is to increase your bankroll. You can increase your bankroll by considering the following:
- Game type: in general, tournament games present a higher variance. This means it will require a larger bankroll. If you choose lower variance games, it will also require lower bankrolls.
- Winning rate: winning rate for cash games is your big blinds in every 100 hands played. The winning rate for tournament refers to the ROI (Return on Investment) you expect from the current play. Whatever the case, you should expect a large hand sample size is needed to assess the winning rate.
- Comfort level: your life roll and your mental composure influence your comfort level. Life roll means other cash and income streams. The mental composure describes your tendencies that will determine your decisions. For instance, if you have a smaller than normal bankroll and it can help you perform, this guideline is how you increase your bankroll.
4th Rule: Manage your expectations
The biggest issue for many players is their expectations. For instance, many join poker sites in the hopes of turning their $20 into $2000 overnight by simply joining a $10 tournament and beating other players. If this is your expectation, you will surely find yourself losing your bankroll overnight and reloading your account again.
You should manage your expectations and set realistic goals – even if it means moving forward with small steps. So, if you manage to turn your $20 into $22 on your first day, you should be happy. You have to put in mind that there will be days when you surpass your goals and it will make you the happiest.
5th Rule: Know when to stop
Normally, you will lose money at some point but it does not mean that you totally stop playing – you only stop playing after losing a certain amount. By doing so, you are preventing yourself from going on a tilt, which will destroy your bankroll.
No matter how big your bankroll, there is always a risk of losing it all especially if you do not know a thing about bankroll management. Without bankroll management, you will become broke until such time that it can strain your finances and relationships. The key here is to keep the risk low as much as possible with the help of good bankroll management.