Poker is an easy game to learn but requires love and dedication to master. Success at poker is the result of learning a number of skills and using those skills to be on top of the game. Managing your online poker bankroll is one such crucial skill that you must pay attention to or you will lose out ultimately.
Many poker players have ignored this important aspect of the game and paid a heavy price. Just managing your poker bankroll is not enough; in fact, it is important to build up your bankroll, only then can you hope to be a successful poker player and draw profit from your game.
What is an online poker bankroll?
In the simplest sense, a poker bankroll is the amount of money you would set aside to play online poker. For those who play poker for fun, a poker bankroll would be something like an entertainment allowance that would be utilized at the online poker tables. For the professional poker player however, a poker bankroll would mean the amount he would be willing to invest in order to improve his income from the game.
How much should my poker bankroll be?
This is the first question that comes to mind and the answer to that is not a simple one. It all depends on each individual and the situation he is in. Also, there are a few considerations to keep in mind when you decide on the amount of your online poker bankroll. We all have different needs which must be considered when building on an online poker bankroll. It is important to take into account the following points:
- Your long terms goals and the stakes you intend to play at.
- Your present winning rate.
- Past history and assessment of your poker playing skills.
- The amount of money required to tide over your daily expenses (which should be kept completely separate from your gambling money).
Being Conservative is a Good Strategy
When building your online poker bankroll, it is prudent to be conservative in your estimation of the adequacy of the amount. Not only does this provide little chance of losing the entire amount, you might even beat the game and emerge the winner. You also have the security of a healthy poker bankroll so you are not pressurized into making the wrong decisions while playing, which is great for your bankroll building goals.
While a conservative approach may well be the best course of action, each individual might base his bankroll requirements on four main components:
Evidently, your bankroll requirement will depend on the stakes you play at. High stake poker games will require a larger bankroll as compared to low stake grinds. This holds true irrespective of whether you play cash games or prefer multi table tournaments or the game variant you play.
The type of game you prefer also influences your online poker bankroll. If you favor poker tournaments, you will require a higher bankroll as compared to cash games. In cash games, you can even start off with a very small bankroll and build on it gradually. On the other hand, poker tournaments, depending on the structure, would require you to start off with a comparatively higher amount. For example, a super turbo poker tournament would mean you should have your funds ready for numerous buy-ins.
Obviously, if you win more games than you lose, your poker bankroll will build up faster. A successful player gets a higher return on his investment, especially if he plays tournaments. This indicates he can achieve greater profits within a shorter span of time, which in turn means he can set aside a smaller amount to build an online poker bankroll.
While deciding the ideal online poker bankroll, you must consider all your income sources and available cash at your disposal and then make a decision as to how much of it you can comfortably spare to invest in your game. Obviously, the size of the poker bankroll will be unique to each individual depending on his or her situation. A substantial bankroll might prompt some people to play better while others might feel they become careless with large sums of money at their disposal.
In order to build an online poker bankroll it is important for the player to consider the above-mentioned aspects while keeping in mind his individual situation and requirements. Once the ideal bankroll amount has been arrived at, the player may then concentrate on managing his poker bankroll so that he can build upon it to play for higher stakes in the future.