Online Poker Guide - Texas HOldem Strategies
Texas Holdem Strategies: Bankroll Management
Bankroll Management
Managing your poker bankroll correctly is essential for long term success at poker, both online and in the live card room environment. However, what is correct bankroll management? What stakes should you be playing at to not run the risk of ruin?
As the old saying goes; “Don’t put all your eggs into one basket”. That saying holds true in poker too. It doesn’t matter how great you are at Texas Holdem Poker there will always be times when luck beats your skill so it’s important to be able to comfortably absorb the times when you do lose.
Let’s take a look at an example of poor bankroll management:
Steve decides to join 32Red Poker and makes a deposit of $400. He takes a seat at a $2/$4 No Limit Hold’em table with his entire deposit. After a few hands Steve has lost the blinds and a few small bets and sits with $370. Finally, in the bottom position, Steve gets pocket Aces! Even more exciting is the fact that players have raised and re-raised before Steve has to act. Proudly, Steve goes all-in. He gets one called who holds A-K. Steve is a massive favourite to win the hand until the flop is dealt: T-J-Q. With no help on the Turn or the River, Steve is bust.
In our example Steve was patient and got his money into the middle when he was a huge favourite. Unfortunately, nothing is certain in poker before the flop and Steve’s opponent got very lucky to flop a straight. Steve now faces a visit to the cashier to re-deposit before he can play again.
Now let’s take a look at good bankroll management:
John joins 32Red Poker too and makes the same deposit as his friend Steve - $400. He takes a seat at a 10c/20c No Limit Hold’em table and buys in for $20. John also loses with pocket Aces vs A-K. However John doesn’t need to deposit again because he was playing within his bankroll and still has $380 behind him. He buys in again for $20 and after an hour leaves the online poker room with $65, nicely in profit for the session.
Sticking to sensible bankroll management allows you to absorb the variations in poker without the need to re-deposit. Most experts agree that buying into a game with 5% of your bankroll should be the absolute maximum you risk at any one time. So if you want to play $2/$4 NL comfortably you should have at least $8000 in your bankroll.
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Online Poker Guide: Bankroll Management
Bankroll management is essential to keeping poker both fun and edgy without risking it all. Always play within your means, never chase loses and don't be afraid to leave a cash game down but, vitally, still with some cash. You can always come back to fight another day.
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