Poker Money: How to Play Without Going Bankrupt
When you start playing poker with real money, you need to keep a few things in mind. Bankrolling refers to the money that you put aside for playing poker. It is the funds that you will use for buy-ins and any winnings will likely also go into this account. It is very important that you manage your poker money or bankroll very well.
- You should have a separate account for poker funds. Your poker bankroll or buy-in money should not come from your everyday household and spending accounts. You need to keep your poker money separate and never use your other money to support your poker hobby.
- Build your poker fund. It is a good idea to first save up some money to build your poker fund or bankroll. When you start learning to play poker, you should set up an account and deposit money as you can. You can even include a savings spot in your budget that is specifically allocated to poker. Only start playing for real when you have saved up enough to back your buy-ins.
- Be prepared to lose the money and never see it again. The reason for separate accounts and not dipping into your other accounts is simple – you will at some point lose that money. Poker is a game of chance and you have a 100% chance of losing all your money at some point. Sure, you will get the opportunity to win it back again, but you must be ready to lose the money you use for poker. If you use the money earmarked for your rent or to take care of your family, you can easily lose everything you have.
- Limit yourself so you know when to stop. It is important that you set limits for yourself. For example, if you have a lost a certain amount of money or a certain part of your bankroll, you know it is time to stop and come back another day. These stopping points are important to keep you sane and also to keep you playing responsibly.
You can find more in detail explanations of bankrolling and the general guidelines for how much on pokerology.com and pokerlistings.com. These tips are valid for both traditional poker and online poker. We would like to hear from some of the seasoned players on how they manage their poker bankroll successfully.