Any poker player must have lost a good amount of money during their online poker games, and almost everyone experiences losses in poker.
Fortunately, there are a lot of tried, tested, and proven ways on how to keep your poker money intact by doing some poker money management. Managing your poker money is not as hard as it seems, and it is certainly able to keep you from losing more of your hard earned money. Any self-respecting poker player must know the strategies of managing their poker money and understand what makes some poker players tick while others flip. Follow these very useful tips if you’d like to know more about poker money management and emerge as the true winning player:
1. Set a ‘stop loss’ limit- This is one of the most popular poker money management strategy that is used by casual gamblers. Though poker game addicts will find it very challenging to set a stop limit once they’ve lost the game, the strategy could actually works quite well if it is being practiced consistently by the casual gamblers and even poker players. This method works especially well in poker games, mainly if a player is stuck in between a bad run. The best thing to do for you at this point is to set a limit of the amount of losses that you will not be playing past it. If you have the tendency to be a little carried away while you’re in a poker game, develop a strong self-discipline attitude as this will definitely save your bankroll in the future.
2. Have a backup plan and some ‘extra’ cash to build your bankroll- Poker players are advised to manage their poker money by putting their poker winnings back into the poker game. This means allowing the players’ winnings to grow rapidly and more into a positive investment with a collective bankroll, hence having a greater chance in winning bigger poker games in the future. It’s highly recommendable that you build up at least 300 to 400 big bets for your desired limit before you start playing at the no-limit cash poker game. You should also reinvest your winnings and your prizes into the buy-ins unless you didn’t intend to move up to a much bigger game.
3. Choose your games wisely and play at the right and suitable stakes- Playing at the wrong game may result in you losing a lot of your poker money, so choose your games wisely, and if you’re playing at stakes that are way too high for you to afford it, it’ll be more destructive to that bankroll of yours. Never risk yourself by playing at higher stakes especially if you’re still a beginner to online poker, are extremely tight on funding, and are inexperienced with a particular poker game site. In the issue of poker money management you should consider moving up to bigger games if you have managed to beat the smaller games consistently and are able to build bankroll.
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