When it comes to managing your poker money, most of the advice you will find is designed for serious poker players. But what if you are a casual poker player? Even if you play poker only once a month with your buddies you still need to keep money management in mind.
The first rule to live by is to only play poker with poker money. You should set aside money that you will use to play poker and only play with that money. If you run out then don’t play again until you’ve saved up more poker money. I have a friend that usually came out on top when we played poker with him so one week he came to our poker game with the down payment for his new car. He thought he could earn a little extra cash before he paid for his car, but the odds weren’t in his favor and he wound up losing part of his down payment. He had to wait an extra two months to get his new car. Playing with cash set aside for other things may sound like a good idea, but trust me – it’s not.
You’ll also want to choose a poker game with limits that fit your personal bankroll. Don’t choose a game where you could lose your entire bankroll in one hand. You want to make your poker money last so you can enjoy yourself.