Manage Your Poker Bankroll

If you are serious about playing online poker and want to make a full time income from it, you need to have a large bankroll and know how to manage it. Sure, poker rules and poker strategy are important, but if you don’t know how to manage your bankroll, none of that matters. You will hit a bad run of cards and go bust real fast.

Tips for Managing Your Poker Bankroll

• Play within your limits
It is generally a good idea to have 50-100 buyins in your bankroll to play a particular level. If you play 10nl, you will need $500-$1000 in your bankroll. If you play 100nl, you will need $5000-$10000. It seems like a lot, but with variance and bad beats, it is necessary.

• Set a stop loss
Set a specific amount that you can lose in a day of play before quitting. Sometimes, you just have a bad day and need to go do something else. Don’t let a bad day eat your whole bankroll. Say, “I will only lose 2 buying maximum per day. If I lose that amount, I will quit until tomorrow”. Not only does this preserve your bankroll, it stops you from going on tilt and playing at limits you can’t afford trying to make back up what you already lost.

• Take money off the table
When you are up a lot of money, it may be a good idea to stand up and leave the table. Some players frown upon this, but it is a good way to lock in some of your winnings. If you double your buyin, it is usually a good idea to walk away and re-buy at another table.

It doesn’t matter if you are playing poker tournaments or ring games. If you play poker online, you need to manage your bankroll. Open an account at 888 poker and practice your bankroll management. They have a wide variety of tables available to suit anyone’s budget. If you are Canadian or have an address in Canada, you can take advantage of their 100% sign up bonus! Play now!