When I first started playing online poker one of my biggest problems was money management. I jumped right in with the big dogs and lost a lot more than I was ready for. I thought I’d share some of the tips I’ve learned about poker money management so that other poker beginners won’t go through what I did.
For starters, decide how much you are willing to lose and never bet more than that. Playing at stakes that are higher than you can handle is the number one way to eat through your bankroll. When you’re just starting out choose a very low limit game, even if it has stakes that are lower than you think you’d like. Playing low limit games can help you to build up your bankroll so you can play higher limit games, as well as help you get used to the online poker gambling format.
A lot of poker players find that when they are on a losing streak they get carried away trying to win back their losses. One of the best ways to avoid this is by setting up a stop loss limit. Choose a specific amount of money that you are going to play with-let’s say $100-and if you’ve lost that money stop playing. This is a great way to discipline yourself. You can also set a stop win limit to help you hold on to your profits.
Finally, remember that playing poker for real money should be fun. If you feel nervous about losing money you should stick to playing a free online poker game.