Poker Wisdom: Bankroll Management
Playing online poker has its ups and downs, which is why the professionals take bankroll management seriously. One day, you’ll earn a big prize in poker; the next day, all your chips get shipped to someone else and you go home busted playing the jeux de casino. Keep in mind what online poker pro, David Sklansky, author of “The Theory of Poker” has to say about the game: “When we play, we must realize, before anything else, that we are out to make money.” Any smart professional poker player will mind and adhere to that principle. They set their poker money aside with the intention of making it grow. It is managed in a separate account and viewed as the fund that is invested in their business, which is poker. Proper bankroll management means playing at a level where you can win consistently. Don’t let ego drive you to sit at higher limit tables where one session can bust your entire bankroll. If you are not an experienced tournament player, recognize that you will be making an investment that has only a small chance of pay back when you are one of 100 or more players. In the 1998 movie, “Rounders” Matt Damon’s character sums up the dangers of poor bankroll management: “I’ve lost money so fast in these clubs it’s left me reeling. I’ve read every poker book ever written, but the only way to get better at the game is to go out and play with people who are really good. The problem is you stand to lose a lot of money doing it.” Practice at free online sites before committing large sums to a game. Never use your rent or mortgage money. Recognize that everyone is there for the same reason as you - to take all the money.
