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.
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