The Online Poker Mistake You're Probably Making: Ignoring Bankroll Management

In the thrilling world of online poker, where fortunes can shift with the turn of a card, many players focus intensely on strategy and tactics. However, one of the most critical, and often overlooked, aspects of long-term success is proper bankroll management.

Why It's So Common

  • The Thrill of the Game:
    • Poker is exciting! It's easy to get caught up in the action and chase big wins, especially online where games are readily available.
    • This excitement can lead to impulsive decisions and a disregard for disciplined bankroll practices.
  • Overconfidence:
    • A few successful sessions can create a false sense of security, leading players to believe they're invincible.
    • This can result in playing at stakes that are too high for their bankroll.
  • Lack of Awareness:
    • Many players, especially beginners, simply don't understand the importance of bankroll management.
    • They focus on the "now" instead of the long term.

The Consequences

  • Rapid Bankroll Depletion:
    • Playing at stakes that are too high can quickly wipe out your funds, even if you're a skilled player.
  • Increased Stress and Tilt:
    • When your bankroll is at risk, you're more likely to make emotional decisions, leading to even more losses.
  • Inability to Recover from Downswings:
    • Poker involves variance. 1 Even the best players experience losing streaks. Without a sufficient bankroll, you won't be able to weather these storms.  

1. What is Variance in Poker? | PokerNews

 

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www.pokernews.com

 

How to Fix It

  • Establish a Bankroll:
    • Set aside a specific amount of money for poker only. Never use funds that are needed for essential expenses.
  • Adhere to the Rules:
    • A general rule of thumb is to have at least 20-50 buy-ins for cash games and 100+ buy-ins for tournaments.
    • This means, if you play 1 dollar buy in tournaments, it is wise to have at least 100 dollars in your bankroll.
  • Move Up and Down Stakes Appropriately:
    • Only move up to higher stakes when your bankroll can comfortably handle it.
    • Conversely, move down stakes if you experience significant losses.
  • Track Your Results:
    • Keep a record of your wins and losses to monitor your progress and identify any areas for improvement.

The Takeaway

Bankroll management is not just a suggestion; it's a fundamental requirement for online poker success. By prioritizing this crucial aspect of the game, you can protect your funds, reduce stress, and increase your chances of becoming a profitable player.

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