Build and Maintain a Poker Bankroll
Well how do you Build and Maintain a Poker Bankroll when you are playing online poker. For most players, the lure of playing in high-stakes ring games or tournaments is a sirens’ song that’s hard to resist. While there’s no doubt that these games can provide huge rewards, the sad truth is that many beginners often leap into the deep end before they look. Destroying their self-confidence and leaving their bankrolls scattered on the shore. My advice to these players is simple. Stay in the shallows until you and your bankroll are ready to venture into deeper waters.
A Pro poker player recently completed an amazing exercise where he created a bankroll from nothing by playing a combination of Freeroll tournaments and ring games. His tip on his progress provides some solid fundamentals on how to create and grow a bankroll. I wouldn’t want to presume that my advice is any better than his. Instead, consider this another point of view drawn from my personal experience and observations.
Tips To Building
Building and maintaining a poker bankroll can be a challenging but rewarding process. Building and maintaining a poker bankroll requires discipline and smart decision-making. By following these tips, you can ensure that your bankroll continues to grow and provides a solid foundation for your poker career. Here are some tips to help you get started:
- Start Small: It's important to start with a small bankroll and gradually build it over time. This will help you manage your money better and reduce the risk of losing everything in a single session.
- Set a Budget: Decide how much money you're willing to invest in your poker bankroll and stick to it. This will help you avoid overspending and ensure that you have money left for other things.
- Manage Your Bankroll: Keeping track of your bankroll is essential to its growth. Make sure to set aside a portion of your winnings for your bankroll and only use it for poker-related expenses.
- Avoid Tilt: Tilt is a common term used to describe a state of emotional frustration that can lead to poor decision-making in poker. To avoid tilt, it's important to maintain a clear head and stay focused on the game.
- Play at the Right Limits: Choose the right limits for your skill level and bankroll size. Playing at higher limits can increase your winnings, but it can also lead to bigger losses if you're not ready.
- Consider Multitabling: Multitabling involves playing multiple games at the same time, which can increase your winnings. However, this requires a larger bankroll and a higher level of skill, so it's important to only multitable if you're comfortable with it.
Build It Up Examples
I bought into the tournament for $5,000 – a significant expenditure – and promptly played my way to second in chips at the end of Day 1. When I busted out of the tournament on Day 2 without making the money, I was pretty devastated. While the outcome of that event wasn’t what I wanted, it taught me a valuable lesson about playing at limits I couldn’t afford. Putting too much of my bankroll into play in a single event.
By taking my shot in such a large buy-in event, I put a huge dent in my bankroll that took months of hard work to repair. It takes time to Build and Maintain a Poker Bankroll. When I finally tried my hand at another large online poker tournament, I hedged the potential damage to my bankroll by playing for my seat at the WPT World Championship in a satellite tournament.
Because I didn’t have as much of my bankroll invested in my tournament entry, I played the event without fear that I would be crippled again if I failed to cash. As it turned out, I took 15th place and walked away from the table with a sizable cushion for my future poker sessions. Limiting my downside by satelliting into the event let me concentrate on the poker. I Played a more solid and confident game than I could have if I had bought into the event directly.
While poker satellites are one of the most common and popular ways to secure your entry into a big buy-in event, they aren’t the only option. For players who don’t want to take their chances in satellites, securing backing from a friend, family member or event another player can be a viable way to play in bigger events than they can afford on their own. Before you go down this path, however, be sure to consider all aspects of the deal being offered. Determine how much of your potential winning you’re willing to give away.
No matter what path you choose, I fully recommend that you never commit more than 10% of your bankroll to an individual event or ring game. To be truly safe, I’d limit your investment to between 2% and 5%. Remember, the more of your bankroll you risk at any one time, the bigger the blow you can take if you catch a run of bad cards or bad beats.
Remember, building up a poker bankroll represents more than just the funds you have at your disposal. It’s a constant reminder of the hours of work it took to build and, as such, it’s something that deserves protection. Treat your bankroll properly and it will pay you back many times over.
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