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Managing Your Poker Bankroll
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Author: Marc Weinberg
In order to succeed in poker, and by that I mean make a profit pure and simple, you must learn how to manage your bankroll. Money management is the key to any pursuit that involves luck and discipline in equal measures: from professional sports betting to trading on the stock market. Poker is no different.
The temptation is to get involved in all the action - to buy and sell stocks on a daily basis, to have a small bet on every NFL game on the card. Similarly with poker there is a temptation to play a variety of poker games. If you're a tournament player who can't find the right game at that moment there's no harm in sitting down in a limit cash game is there? Yes there is. If you are not selective, disciplined and playing to your strengths at all times you will not succeed at poker.
Deep down we all know that there are certain poker games, and certain poker players that have our number. For me it is pot-limit hold'em. For you it might be multi-table tournaments. Keep records and know the games you cannot beat. And once you've done that AVOID THOSE GAMES. What could be more straightforward?
The truth of the matter is that it is very hard to stay away from action, and also tough to remember that money is the one essential resource for playing poker well. If your bankroll is not rock solid you cannot win. There is a lot of luck in poker regardless of what the experts tell you. Your edge lies in playing the form of poker at which you are best suited. That alone can outweigh luck and make you a winner at the game in the long run.
As with the stock market or a sportsbook there is a cost for every bet in poker, and the rake, the vig, the commission, eventually has to be paid for by the players. The house or the exchange grows rich on these small sums bled from each one of us and it is a house-edge that very few players can overcome. Treat poker seriously and it may well reward you. Play it purely for entertainment and it will never reward you.
Related Poker Articles And News Items:
> Where To Play Sit& Go Tournaments - Part 2 - The Novice View
> Where To Play Sit& Go Tournaments - Part 1 - The Expert View
> The Ultimate Sit&Go Tournament Guide
> Why The NBA Is A Lot Like A Sit N Go
> Advanced Poker Tournament Strategy - Stack Ratios
> Finding Weak Poker Players Online At Every Level
> A Poker Secret About Bad Poker Players
> The Value Of A Call In No-Limit Hold'em
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