Proper Bankroll Management is possibly one of the most important aspects when it comes to being a successful poker player. While knowing how to properly manage your bankroll won’t immediately make you a winning player, without good management you will find it difficult to be a profitable player no matter how good you are in other areas.
Many gamblers, not just in poker but in all gambling games, tend to over state their wins and ignore, or not count, their losses. I could never be that type of gambler. I never saw the point in saying I was up if I was down. Perhaps it’s my logical mind, which finds it difficult to lie to its self. Whatever the reason, if I were unprofitable at gambling and didn’t think I could change that, I would have given up long ago. Continuing, and continuing to lose while telling myself, and possibly others, that I was winning would never have been an option for me.
Playing within your limits will have many positive results. Knowing when to move up or when to move back down in the stakes that you play at will squeeze the maximum value out of your bankroll. Good money management can also be of great benefit when clearing poker bonuses and can give you a greater return than you might have initially expected.
While it might be tempting to go for the big prize, the flat feeling you get when you risk it all and miss is not something that you want to feel very often. While it is true that the only way you can know that is for it to happen to you a few times, after those times hopefully you will be looking for a better way to play so that you can avoid that terrible feeling. managing your gambling funds properly will apply to all types of gambling and not just online poker. It is the foundation of a good gambler.
It is probably more visible to a sport betting type of gambler than a poker player. In sports betting you can see the events and make your pick regardless of not having the money to bet those picks. When you see the outcome and the result was as you predicted it, then the reality that had you managed your money properly prior to the event you would have had the funds to bet your choice become rather clear. It is not quite the same in poker. Unless you put up your money you cannot see what cards you would have been dealt, so cannot know that you would have profited had you not blown your whole roll the last time you played.
In poker it is as important as in any other form of gambling that you take a longer view of what you need your money to do for you. First and foremost you need your money to get you in the game, and secondly, you need to use that money to generate a profit. With the cash, there is no game, and therefore there is no profit. Money is your plant and equipment, your car to get to your job, your weapon. Whatever you call it, it is anything but money. It only become money again when you take it out into the real world and spend it. Until then it is pre-money. Manage it well, or lose it. It’s that simple.