Managing your poker bankroll should be at the top of every poker players list of priorities, and with the right plan you can reduce the risks of losing a lot of money.
Here we will discuss the key elements that make up a successful poker bankroll and provide you with useful information so that in time will hopefully make you a nice bit of profit.
Play Within Your Bankroll
You should always try and destroy weak stacks as soon as possible. This is because weak stacks are easier to lose and it will also allow you to play more aggressively. Generally the best way to do this is by ‘taking the risk’ and playing more aggressively. However, this doesn’t mean you should go all-in against players with average stacks – unless you have the nuts (best hand).
Average stacks realise they are not winning as much as they would like, and are beginning to be pragmatic about their bankroll. If you think you have the best hand and can win, then be aggressive. If you don’t think you have the best hand, than simply fold. In the latter case, you would not be risking much of your stack for a chance at the best hand.
Bankroll management is, perhaps, the most important aspect of profit from poker. Many players go broke because they become overconfident. This happens, for example, when a player has a large bankroll and is winning not realise that they are betting too high.
If you feel that you are last or among the last, than you need to be very clear on your priorities and pull away from the poker game. Always determine your bankroll amount and only ever make bets in relation to that amount. This will both give you a lot of variety as you play and also a lot of flexibility.
The 80/20 Rule
Many players also make the mistake of placing too many bets on a given match. If, for example, you make 8 bets in a row on a football match, you will surely lose.It’s all a numbers game, but betting 8 bets on a football match ensures you take the 80% of the pot and the 20% of the profits.
Make sure you follow the 80/20 rule and only bet on 16%-20% of the pot, because the other 16% is pretty much pick fashioned.
eware of limping in when bankroll management is important. First, don’t limp with the hope of a big win, that rarely happens. Second, the risk of limping without the goods is pretty high, especially when you return to the table.
There are two truths about limping: (1) it is dangerous, (2) it rarely helps. Usually you end up losing a lot of money, which is a lot of bad news.
For information on how to employ the art of limping, see my articles: Mastering the Art of Limping.
To withdraw from a hand without limping is the wrong thing to do. Unless, the odds are in your favor, don’t try to bully your way to the end of the pot.