Posts Tagged ‘bankroll’

The Importance Of Keeping Online Poker Records

Monday, October 4th, 2010

Playing poker online can be a lot of fun, but if you have any desire to play real money poker games then you’ll have to put in a little work on the business side as well. Keeping records of your poker games is important, whether you are playing free poker or real money games, if you want to improve your skills and maximize your earnings when you start playing for real money.

What should you be keeping records of? Most importantly you should be keeping records of how much money you are spending from your bankroll and how much you are earning. Keep track on an hourly basis so that you know how much money you are able to make playing poker online for an hour, on average. This is good because it helps you to figure out at which stakes you are able to make the most money. Keep in mind that you might make more money per hour playing at lower stakes games then you are able to make in a high stakes game, as higher stake generally mean more difficult competition.

Even if you are playing free poker, but thinking about playing for real money at some point, it would behoove you to keep records to measure your progress. Keep track of how much you are spending of your “virtual” bankroll and how much you are earning. In time you should see your earnings grow, and then you’ll know you are ready for a real money game.

How To Choose Your Tournament Limits

Friday, May 7th, 2010

When it comes to choosing a poker tournament you have a lot to think about. You’ll have to choose a poker game – do you want to play Texas Hold’em, Omaha, 7 Card Stud or another game? You’ll have to decide whether you want to play in a live tournament or play online. However, one of the most important things you’ll have to decide is how much money you are willing to spend. The following tips should help you choose your poker limits.

The first thing you need to decide is how much of your bankroll you are willing to lose. If you only have $500 then you don’t want to spend it all on a single tournament entry fee. If you lose you’ll be left with nothing. Decide how much you can afford to lose without feeling bad and don’t enter a tournament with limits that exceed that amount.

You’ll also want to consider the fact that higher limits generally mean tougher competition. If you are just starting out in tournament play you should start with a low limit tourney. As you improve and find yourself winning more and more often, go ahead and up your limits. If you find you are seldom winning (1 in 10 times) then you should probably sign up for a lower limit tournament until you have improved your skills.

When choosing tournament limits you want to find the perfect balance between skill and bankroll. Choose a tournament that you can afford that is just challenging enough and you can maximize your poker tournament experience.

Learning When to Walk Away from the Poker Table

Tuesday, February 23rd, 2010

One of the biggest mistakes that poker players make is staying in the game too long. If you don’t know when to walk away from the poker table it can kill your bankroll when you are playing for real money.

There are a couple of different scenarios in which staying in the game can kill your bankroll. The first is when you are losing. A lot of players stay in when they are losing because they keep thinking to themselves, “I’ll win the next round”, and they don’t want to walk away with a loss. They’d rather stay in and hope for the best. However, the truth of the matter is that when you are on a losing streak your mind isn’t totally in the game and you are more likely to continue on your losing streak. If you are starting to feel negative about your game then it’s time to walk away from your losing streak. Come back when you are feeling more positive and win your losses back.

There is also the scenario where you lose money by staying in the game too long when you are ahead. To many players have gotten cocky when they are on a winning streak, made a big bet or raise and lost all of their winnings. Set a winning limit for yourself. When you have managed to reach this limit walk away to ensure that you hold on to all your winnings.

You can practice walking away with a free game. Keep track of your fun money winnings and losses and walk away when the time is right!

Money Management for Casual Poker Players

Wednesday, December 30th, 2009

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.

Tips for Building Your Poker Bankroll

Thursday, November 26th, 2009

If you are playing poker online for real money, one of the most important things is your poker bankroll. You need money to play the game and you don’t want to wind up in a constant cycle of depositing money, losing it all, depositing more and losing it all again and again. The following tips can help you build your bankroll and keep from running it right back into the ground.

For starters, you’ll want to start building your bankroll in your every day life before you start to play poker for real money. Put aside a little bit every week and once you have a good amount start using it to play poker. Keep in mind that your poker money will be used only to play poker and that you will never break into your non-poker bank account to play poker. If you want to avoid big losses it’s important to keep your poker money separate from the rest of your money.

When you are playing real money games it is important to choose betting limits that match your bankroll. If you play at a high limit table with a tiny bankroll it will be gone before you know it. As a rule of thumb, play at limits that you could afford at least 200 big blinds in. When it comes to tournaments, never enter a tournament with a buy-in that is more than 1% of your bankroll.

If you stick to these simple tips you can build a strong poker bankroll and hold on to it.