The art of money management in the game of poker is termed as bankroll management. Learning how to manage your online poker cash is extremely essential and important. Ideally, one needs to build a poker bankroll over a period of time and invest it wisely. This isn’t easy and requires tremendous discipline. Here are some of the ways you can get better at bankroll management.
Select your strategy
This will depend on what kind of online poker you are or want to be. Are you happy playing poker occasionally for recreation or do you want to grow as a poker player and build your winnings? If you want to play poker for fun, then you don’t need a big bankroll. Just make sure you keep some cash to play, that’s about it. Don’t utilize your savings or invest if you are facing a cash crunch. If you are serious about the game, then you need to be more judicious with your money and build your bankroll one step at a time.
Now this may sound boring, but it is important to keep a track of your money. Use a book or an excel sheet to enter details of every session you play. This should include the buy-in, winnings and type of game. Basically this is a log of your daily performance. You can also add the metrics like hours played, type of opponents, your mood and the time of play. Keep doing this for a month or two and you will have a nice little pattern of your play and performances. Draw your inference from this date and you’ll have a fair understanding of what works and decent. Remember, the ultimate objective is to keep a track of the money trail.
Moving up the ladder
All poker players reach that stage where they believe it’s time to step up and play at higher stakes. This might seem like the next logical step in your online poker journey, but you need to be careful in making this transition.Bankroll management becomes crucial when you want to move up the limits. In case you have made sizable profits at the lower stakes and you have spare cash to invest, you can have a go at the big tournaments. If it doesn’t work out, you can still grind at the micro tables. Also, if losing cash at the new higher level leaves you disturbed and affects your finance, do not switch. Stay where you are. Play in your comfort zone for a little longer. There is no hurry. The important part is building your bankroll and not losing it in order to play with the big boys.
Regular cash game players will often find themselves involved in multi-way pots. The key here is to have a clear distinction between hands that will help you win and the ones that will leave you in a soup.
In such situations, there is a strong probability of two or more players connecting with the flop, mostly on a board with possibilities of straight or flush draw.
If you keep this in mind, then you best chance to win a multi-way pot is to hold a better than one would require against just a single opponent.
When there are online one or two opponents, even a top pair can be enough to seal the deal. When there are four players in the fray, the eventual winner needs to hold a hand lot better than a two pair.
Note that you shouldn’t get too excited with hands like a top pair or top kicker or for that matter even KK’s. The single most important factor you need to watch closely is the texture of the board. For instance, you might be holding pocket AA’s on a 7h, 8h and 9d board. Let’s assume there are four players, with some of them due to act after you.
In this situation, you must seriously considering opting out of the hand. Hands like AA or KK are lethal in heads-up action. But when it comes to a multi-way pot, at least one player will have you crushed at the flop in such a situation.
If pockets rockets don’t cut it, what’s the best hand to beat competition in such scenarios? Interestingly, medium and even small pairs can get the job done, especially when you flop a set. Also, when you flop a set on a board with a high card, there is every chance at least one other player will get himself/herself involved and hand you a decent pot.
Hands like AQ, AK and KQ too can be extremely handy in multi-way pots. This is simply because they offer the possibility of hitting a big straight or a nut flush. You need to remember this especially if you have flopped a top pair etc., since your opponents with one of those hands could outdo you.
For instance, many experts believe that AK is a problematic hand when you’ve flopped top pair. It can burn a hole in your pocket if not played with care especially since it appears a lot stronger than it actually is.
Finally, you need to pay attention when a player on the table is willing to shell out a lot of cash. Even if you have flopped top par in multi-way pot, always been open to the possibility that he/she might have you beat.
Ultimately, it all boils down to how well you know your opponents or have clearly you have figured their respective gameplay. Presence of mind and astute decision making is often the differentiator between a good play and a great play.
If you intend to quickly take your game to the next level, mastering the art of value betting would be of great importance to you.
Simply put, the objective of value betting is to extract as much cash from your opponent as possible.
Hence when you want to bet on the river, there are some things you need to ask yourself. First you need to figure out the probability of getting raised by a player who is either bluffing or holding a better hand.
You also need to figure out how much money he/she is willing to call. The answer to that question is rather very complex. This greatly depends on how astutely you have been observing your opponent.
If the player has a feeling of coming out second best, he/she may not even call a bet that is worth half the pot. Also, if you bet big there is a chance of being called by players that probably have a bigger hand than you.
This should not force you into always making a small bet on the rive. Remember, betting wisely against the right opponent is bound to fetch you a good pot.
For instance, when you hit a straight or flush on the river and are faced with an aggressive opponent, what do you do? A big bet is likely to draw a call from him despite holding a weaker hand. At this juncture, he/she may feel that you don't have the winning hand and are trying to intimidate him out of contention. Hence you job is to bet in such a manner that it appears as though you are bluffing.
The idea is to know what your opponent is likely to chase and the worth of what your hold. Since this is bound to change from opponent to opponent. For instance when you are playing a tight players, betting less will is more likely to fetch you a call. A timid player feels he is behind when faced with a strong bet and does not participate in the action.
It is also a good tactic to sometime go in for a bigger bet. This usually surprises them. You might end up being the beneficiary of a good pot on most occasions. This is primarily because they feel you are bluffing and end up making the call.
In short, to bet the right amount one needs to focus on betting patterns of opponents of all times. This might be a bit tough when you start out, but eventually you will have to develop a habit of understanding when your opponents are likely to call or fold on the river.
Online poker players often find themselves in tricky positions during tournament play. The real challenge of the game is to emerge relatively unscathed from such situations and go on to win the poker tournament.
One such instance is when you find yourself short-stacked in the game. No player, irrespective of his/her level of experience, has managed to escape this. Hence learning the best ways to combat when short stacked will hold you in good stead.
Keep in mind that when you are left with less than 10 times the big blind, the only option you have left is moving all-in when you are first to act.
Your objective here is to steal the blinds. You decisions at this juncture should be based on how short-stacked you are.
For instance, with 8x the bb you can afford to wait for a decent hand. But when you are left with just 4x the bb, you don’t have that luxury and might want to move all-in the moment you are first in the pot.
The thumb rule in such cases is this: more the chips, more you want play your card and lesser the chips, more you wait for the perfect chance to double or even triple up by going all-in.
When you wake up to high-value hands like AK, JJ or KK, you can push all-in even If you are out of position or one of your opponents has already played before you. However, if several players have shown strength before you turn, you might want to let go and wait for another chance.
This strategy is ideally suited to beginner poker players. However, if you are at an advanced level, do not implement this plan unless you are left with less than 6x the bb.
It also must be kept in mind that different players tend to have different strategies when going all-in. Hence one must adopt the method that he/she is most comfortable with. However, keep the above-mentioned tactics in mind since they will help you in decision-making when you don’t have much to play with.
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Budding poker players need to devise a strategy for them based on their personal style of play. It is also critical to understand what constitutes a winning online poker strategy.
Beginner poker players must develop an understanding of pot odds, table positions and interaction between opponents.
There are many different poker games, but aside from some play differences, some strategies remain the same.
In order to be a good online poker player, it is essential one knows how, when and how much to raise. This is widely regarded as one of the most key skills in successful online poker players.
So here we look at four ideal situations when players should go for that big raise to derive the maximum benefit from that particular hand.
1) As soon as you realize that your hole cards form a good hand, make a big raise. This will help intimidate weak players and narrow the field. It will also raise the stakes of that particular hand.
2) When you have made a hand, without the need to draw any more cards to win, apply pressure on the table by making a big raise. This will force players who were looking to draw another card to fold. Also, it will make sure only a player with a serious possibility of making a hand will stay in the play.
3) Raise can be a good strategy to bluff or semi-bluff. At time when you don’t have decent cards, this ploy can help you outmaneuver opponents. You need to realize that this is a big risk and one that could pay off. However, even if your opponents call the bluff, you may be able to improve on the draw.
4) Another advantage of making a good raise is that one can gain information about your opponents. When you raise, the next player has three options - raise, call, or fold. Based on his/her action, you can get a good idea of what they could possibly be holding. You can also receive a check from your opponent during the next betting round, thereby helping you to improve your hand with a free card.
In an attempt to improve the quality of their offering, iPoker has decided to reform their cash game structure from June 16 onwards. A concrete measure that will certainly come into effect is the withdrawal of high-stake cash games and anonymous tables.
iPoker will offer a max buy-in of $1,000 to NLHE cash games and will remove the Shallow and Deep Ante tables for heads-up and full-ring games. The new structures will not be implement across the board, which is why iPoker.FR, iPoker.ES or iPoker.IT will remain unchanged.
As reported by pokerfuse, a member of the iPoker team said:
“We expect players to move up/down/sideways from niche games to main games. This result in a bigger number of active tables and more enjoyable poker experience.”
GBP tables (other than 6-max normal tables) will be removed from all the Tier 2 iPoker rooms and they too will adopt the same cash game structure. A buy-in between the ranges of 40 to 100 big blinds is expected in such games.
This latest move by the company is similar to what they adopted last year when they removed numerous table types.
Along with this, Speed Omaha, Deep Ante and Shallow tables for Pot Limit Omaha and its Hi-Lo version games will be removed from next week. There will be no changes to the Limit Hold’em, Limit Omaha Hi/Lo and all Stud Games.
Despite iPoker ranking as the 3rd in terms of online poker networks, there has been a constant decrease in the traffic numbers. The latest move by the company is an attempt to lure back players and re-start their high traffic volumes.
There are number of different types of tournaments that you can play at Betsafe Poker. They offer everything from small sit and go’s, up to tournaments with a buy in of more than $1000 so there is something to suit everyone’s wallet. Every month they are guaranteeing minimum $15 Million in prize money to the tournaments, so what’s your excuse not to play?
A multi-table tournament is a tournament that starts at a set time. The tournament is played with up to 10 players per table. The tables are then merged with each other when players are knocked out until one final table remains. It is then played out until one player is left with all the chips. In a multi-table tournament normally the top 10% are win prize money and 30% of the total prize pool is given to the winner (please note that this is the standard format but there may be variations).
Sit and Go:
A sit and go is a tournament that starts when all the required seats are filled. Normally sit and go’s are played in a single table format however some sit and go’s are multi-table and then it works the same way as the multi-table tournaments.
A guaranteed tournament is a tournament where Betsafe adds money to ensure that there is a minimum prize pool guarantee, no matter how many entrants the tournament gets. For example if it is a $1000 Guaranteed tournament with $10+1 buy and there are 84 entrants, you would normally just have $840 in prize money, but because it is $1000 guaranteed there will be a $1000 prize pool. If the buy in total is more than the guaranteed then prize pool will be more than the guaranteed amount. For example in the $1000 guaranteed tournament if you have 120 entrants then the prize pool will be $1200.
A freeroll is a tournament that is free to enter and where you can win real money. Sometimes there are requirements for these types of tournament. For example you have to have made deposit or earned a certain amount of Player Points to be able to enter.
A satellite is qualifying tournament to another online tournament or live tournament. There are usually two types of satellites, the first type guarantees a certain amount of seats to the next event. The second type gives away a certain amount of seats based the entrants. For example if it states in the tournament information that 1 out of 6 is guaranteed a seat into the next event, then there will be 10 seats to the next event if 60 players enter the event.
For some poker players, the allure of playing high-stakes poker can be too much to resist. Players will watch their idols play for thousands, sometimes even hundreds of thousands of dollars on TV and want to experience the same kind of thrill when they win a monster pot. The problem is some players move up in levels too early and for the wrong reasons.
The simple fact is most players tend to move up to a higher level of play well before they are ready. They don’t have the experience or the bankroll to compete and often end up literally paying the price. So what is it that drives people to play over their heads? Often times it is simply the desire to take a shot or they talk themselves into just going for it. At other times, they are chasing their losses in their regular game by trying to even the score in one single session. Because these players are not properly prepared, they end up suffering the consequences. You can avoid this fate by following a few simple rules.
The most important rule to follow is to pay attention to proper bankroll management. If you are a consistent winner in your regular game, keep adding funds to your bankroll until you can sit comfortably in a bigger game. In general, it is recommended to build up your bankroll to at least 50-60 buy-ins, at your current level. Then when you feel ready, take 10-buy-ins and move up to the next level. If you lose those buy-ins, go back to your regular game and take another shot after you have rebuilt your bankroll. If you win, good for you and keep on playing at the new level!
Most important of all, don’t get emotional about the money. If you become uncomfortable about the size of your losses or even your wins at a new level, you may start to develop a psychological barrier that will be hard to overcome. If you feel yourself entering that ‘tilt’ type of mentality, you should move back to a level that you are more comfortable at. Stepping up a level to recover losses from your regular play will only set you up to lose more money. Don’t be fooled into taking a shot in a bigger game just because the game seems fast and loose. At higher stakes, even though you stand to win more money in the pot, you also run the risk of losing your entire bankroll.
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A key concept to master in poker is pot odds. Online players who are able to calculate whether or not it’s a good bet to stay in a hand understand the core of this strategy.
After all, the whole purpose of poker is to make money so considering and mastering the art of calculating ‘pot odds’ is an important skill to add to your poker arsenal.
Essentially, the size of the pot matters when you decide whether or not to call a bet to stay in a hand. For example, if there is €100 in the pot and your bet is €1, then this would represent good pot odds as you are only betting €1 for a chance to win €100, or 100:1.
To figure out what pot odds you’re getting, you calculate the ratio of the size of the pot to the size of the bet. A €10 bet into a €50 pot is 50:10 or 5:1. A €5 bet into a €75 pot is 75:5 which reduces to 15:1. Hint: It will be very helpful to brush up and remember your fractions!
When you get the pot odds, the next step is to determine whether or not the pot is giving you the right odds to stay in. You do this by calculating your outs and the odds of hitting your hand and winning the pot.
Once you figure out the odds of hitting your hand, you can compare it to the pot odds you’re getting. For instance, if you’re getting 5:1 pot odds (€20 into a €100 pot for example) you want the odds of hitting your hand to be 5:1 or better. If you have eight outs, your odds are roughly 2:1 of hitting your hand so you would definitely make that bet. On the other hand, if you only had two outs, the odds of hitting your hand are roughly 11:1 so it’s a bad bet to make.
If you follow the rules of calculating pot odds over the long term, it will ultimately help make you a winning poker player! Practice this strategy now and earn up to a €1000 bonus on your first deposit!