Online Poker Bankroll Advice
One of the most common mistakes made by first time players when they start playing online poker is the mismanagement of their bankroll. A bankroll is the money that the player sets aside for his poker playing and the idea, of course, is to get this bankroll to grow. Players need to realize that it takes time and practice to build a poker bankroll, and it will not be something that happens overnight.
Poker experts agree that a player who wants to start building a good-sized bankroll should have enough funds at the beginning in order to do so. A good rule of thumb is to open an online poker account with no less than $150 in order to have something on which to build.
Starting bankroll of $150-$200: In order to increase this sized bankroll, a player should play stakes not exceeding $1, and entering sit and go tournaments with buy ins of no more than $5. By sticking to these limits, players are able to get in enough practice and slowly but surely build up their sum to around $500.
Bankroll of $500: This is considered a good-sized bankroll by all standards and allows players to continue playing $1 stake games with no problem. Players are encouraged to slowly increase these stake limits until they are comfortably playing $2 limit games. This is also a good time to slowly switch to $10 sit and go tournaments until the player’s bankroll reaches $1000.
Bankroll of $1000: By this time, the player should have enough experience at ring games and tournaments and feel confident enough to up those stakes. With a bankroll of this size, players can shift from $10 to $20 sit and go tournaments with ease.
Remember! Building a bankroll is a matter of trial and error. There may be periods where you will have to take a few steps back in order to pace yourself again. The main thing to remember is that this is a SLOW process. It is better to build up a bankroll steadily but at a slower pace, than to rush into things, make a killing in a short space of time but then lose it literally overnight.
Bankroll Management Tips
It is solid poker advice to only ever play with money that you can afford to lose. Don’t play with money that was meant for something more important, like paying the rent for example!
Don’t play over your limits. If your bankroll is $200, stick to low stake games. Don’t be tempted to sit at tables where your bankroll cannot support the stakes.
A good rule of thumb is to have 300 big bets at your regular play level to cover anything that could possibly go wrong during a poker session. Other poker experts suggest never spending more than 5% of your poker session on a sit and go tournament.
Keep your poker bankroll for poker only. Don’t be tempted to use the money for other games such as blackjack or roulette. You may very well lose your money and go back to square one.