Bankroll is referred as a sum of money set aside specifically for playing poker. This cash is for poker alone, meaning your budget for other expenses should in no way affect your bankroll. When you build a bankroll, it may be huge or small but the important consideration is that you may lose this cash. It must therefore have no bearing on your other finances.
The risks that are associated with your bankroll are high, hence poker bankroll management is essential. Here are some tips to consider:
Play only for the Amount that you can Afford
You may see yourself as a good player. Others may also confirm that. But, you can never guarantee that you will win every single time. Poker is a game of chance and like it or not, you can and will lose bankroll poker. That's why this tip is very important. You must never take chances on your bankroll poker especially when you're down on your luck.
When in Doubt, Don't
If you think you're going too far on your game, then stop playing, even if you know that you're within your betting limit. When you're out of your comfort zone, you tend to get anxious and make the wrong choices. If you want to be competent, play within the limits that you set for yourself. Otherwise, you'll be needing to build a bankroll once again.
Don't exceed your Bankroll Limit
Poker players who participate only for fun should only wager an amount less than 10% of their bankroll at one time. If your bankroll is $100, then your buy-in must be less than $10. The same can be said about cash tables. The buy-in limits of professional and serious players should be even lower.
Set your Goals and Be Guided Accordingly
Poker players fall into three general groups and they are classified according to their hopes and objectives in the game. You have to determine your goals in playing the game, an important factor in poker bankroll management.
- The first group of poker participants is the recreational players. They have a source of income and play poker just for fun. In case they lose money, they can build a bankroll again from their income.
- The second group is the serious players. Although they're good at poker and make good money out of it, they have other sources of income. However, they won't take a loss lightly.
- Finally, there are the professional poker players. They basically play poker for a living so they're very careful when it comes to their bankroll poker.