5 Rules to Help Save Your Online Poker Bankroll
The number one cause of poker players going bankrupt just by playing the game is poor bankroll management. Bankroll management is not only extremely important, it is crucial to the survival of any player who wants to take playing poker seriously. In a game of poker, there are certainly highs and lows, and the only way to not let a series of bad hands destroy you is good bankroll management. Even the best poker player needs a proper bankroll management, because no one can escape the claws of defeat in poker, no matter how good you are. For you newcomers in the poker scene out there, here are the 5 rules to help save your online poker bankroll:
The planning stage takes place before you enter a poker table, it is absolutely crucial that you do this before you enter a game because once you do so, you will get so caught up with the game you will not be in a rational enough head space to perform proper bankroll management. The planning stage should be done by checking your wallet first, then develop a suitable budget for the poker session that you are about to enter.
Play within your budget
What poker game you play, whether it is high stakes or low stakes poker for example, solely depends on your budget. The budget that you have set up should always come first, then the entertainment comes later. All your effort during the planning stage will go to waste if you choose to abandon it immediately after you sit down at a poker table, so we can not stress this enough, play according to your bankroll.
Now you have a finite bankroll, and this goes without saying, you the number of repetitions of games you go through should be finite as well. According to Gambler’s Ruin, if poker is a zero sum game, you would go broke within an instant. In the world of online poker, it is you against the world, the world has an infinite bankroll, so do not make it a habit to compare yourself to others. They are only strangers on the internet, after all.
Don’t monitor your poker balance
Contrary to popular belief, you should not pay too much attention to the chips you have at hand, as this will draw your focus away from the game. Any veteran poker player will tell you, playing poker requires 100% of your attention. You have to pay attention to the dealer, your hand, your opponents and your surroundings all at the same time. By monitoring your poker balance, you are not only splitting your attention into two, you are also letting your wallet influence your gameplay.
Don’t get influenced by your money
Which brings us to our final rule, players that are naive would double down on their bet if they see that their poker balance have increased, or wimp out when they notice that they are losing money. Do not make this mistake, focus on the game and the game alone and do not let any other external factors influence your game.
We hope that you find these tips helpful, good luck out there!
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