Save Your Bankroll – Basic Money Management Tips

Maybe you think that you are really good at playing poker, right? Wrong! There is always the need to watch out for the money you plan putting in the game. Poker is not only about being a skillful player, but also a good gambler. This means that you need to know when you must go into the game with a good betting action with good chances to win those bets. For this fact you will have to set your own strategy when it comes to managing your money.

It happens to many poker players – they obtain good winnings, even several in a row and then they think that luck is on their side and start betting large amounts of money. In a blink of an eye they can be left without that money and even lose all. This shouldn’t happen to you, and for this fact you should go with the following suggestions:

  • Poker Room Selection – If you are set on playing online poker, make sure that you go for a website where you can place bets that you can afford paying. As a beginner you must find those websites where low stakes are allowed to be placed. If you place larger bets you may lead to the wrong impression that you are bluffing and thus ending up on losing more. When you do not know where these websites are, you should check with the online reviews and thus find the sites that are trustworthy.
  • Poker Budget Setting – It is important to always set a limit of money within which you plan betting at the poker game regardless if you play online or inside a casino house. Once you take a sit at a poker table it is better to have a certain limit in your mind and stick to it. You must always assume that the players at the table are better than you because in this way you can play more cautiously. It you wait for them to play worse than you, you may be disappointed. In the meanwhile you can end up losing more money than you have expected to.
  • Winnings Limit Setting – Also have in mind a win limit after which you will stop gambling. If you have happened to win several times and even tripled your initial amount of money, make sure that you set a win limit before you call it a night. As mentioned above, do not make the mistake that other players do and bet more each time they win more. With poker being a game of chance as well, your lucky star won’t be there at all times and thus the risk of losing not only what you have won but also the money you have started the game with is always to be considered.

    Many players when win tend to become too over-confident on their skills and are tempted to bet each time more and more. Don’t do this mistake and instead try to leave the table when you are still on the top of the mountain.

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