Good money management in poker

Ace of clubsMoney management is how to handle your bankroll. It’s not so easy to know how this shall be done in a solid way.

To put some money into a poker account and play until the money is lost and then do it all over again, that’s easy. It’s when you begin to win that things get more complicated. Money management is not only how you handle your bankroll on a macro level, but it’s also how you deal with your money under a playing session.

Recommended bankroll and limits

On a macro level money management can be about how much money you should bring to the table and eventually how you should set up limits for this money.

What is then an accurate sum to play for and on which limit do you belong? These questions are nearly connected with every person’s economical circumstances in primary. To play for money that you really can’t afford to lose is a bad idea in many ways. Firstly according to the private economy and secondly your game will probably suffer – in poker language this is called to play with scared money.

It must be an acceptance of a possible loss of the amount you choose to invest for poker. This should be pretty obvious. The next question is: what is a reasonable limit to start on? This can also be answered with common sense. When you start playing poker about money, you are a complete beginner, or you been playing before without real money. In both cases the lowest limit should be the place to start. Even if you have lots of success playing with your friends it’s wise to adjust to the mechanisms that involve playing with money by start on low stakes. The only exception for this is if the limits are so futile that you become almost indifferent with the outcome of the game. If this is the case you should move on to a limit where you can feel motivated to play your best game.

It’s time to return to the question: What is an accurate sum of money to take to a poker table? A suitable sum in this case is decided by many factors such as which game variant you play and which playing style you have. It’s also a difference between limit and no limit. Commonly you talk about how many big blinds (BB) a player should have in chips and the recommendations is that you should at least have 80 big blinds on the table in a no limit game and at least 50 big blinds in limit.

For example in No Limit $0,05/$0,10, you should at least have $8 on the table.

A serious player doesn’t want to be forced to making a new deposit only because he had had a bad day and lost all or most of the money he had on the table. Your bankroll should, therefore, be bigger than the amount you have on the table when you play. This is, however, something that doesn’t get really important until you go from one limit to a higher.

Move up a level

If things are working out well for you, it’s becoming interesting to move up to a higher limit. At this stage, good money management is important. The rule number one is: Don’t move up too fast!

You should have a solid base before you decide to try the next limit. The recommendations here are to have at least 10 times the amount you bring to the table for a session in your bankroll. When it comes to tournament play an amount of 20-30 buy-ins are enough. So if you, for example, play sit n go on a level with $10 buy-in you should have collected around $300-$500 before you move up to $20 buy-ins.

Move down a level

Sooner or later you will experience a losing streak that’s cutting badly in your bankroll. In this stage it’s important to be smart enough and once again understand the significance of good money management. When the bankroll no longer fulfills the criteria’s for playing on a certain limit, the only right thing is to return to the lower limit until enough money has been won again.

It’s critical not to play under pressure and to have an attitude that always originates in long term prospects.

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