Poker Player Money Management: Do not Blow Your Winnings

Many good poker players end up often with no money at all because they can not manage their money. If a player plays good poker and he also knows how to manage his money well, then he has very high chances to never go broke. If you intend to play poker for a living and let it provide you the money you need for everything then you first have to learn to play it well and second you must also learn a ting or two about money management. You have to understand that once you won at a poker table you must treat that money as stocks in the market, as capital needs needs to be helped to grow. So, this money will be used to continue to play piker, nothing else. Your bankroll has to stay on a stable line, it has to grow little by little or at least never decrease. If at some point you win a lot, you can help yourself to the money or use it to slowly get your poker up to higher limits.

If, on the other hand you are just playing poker as a hobby, you will have to know how much you can really lose and you will have to know the fact that at some point you are going to lose that amount. If you are lucky and know your poker then you can build up the bankroll from just a small asset.

What is the earn / investment rate?

You will win on an average about one bet per hour, one big bet. Statistics say that in an hour of poker in a game of $ 50- $ 100 will make $ 100 if he plays good poker. To play the games you intend to you must make sure your bankroll can take it and that it is at least 300 times bigger than the big blind. So, to play $ 50- $ 100 limit you will have to have a bankroll of about $ 30.000 in order to be sure of wins and to not risk losing your entitlement bankroll because you can not afford to bet anymore.

Some money management rules

1. Play only if you are sure of your money and do not play at tables that are above your level.

2. If you know to play good and the game looks as if it's worth it, then even if you lost a little init keep playing. Statistics say you will ever win.

3. If however the game you are playing in is a bad game you must leave the poker room even if you are winning at the moment.

4. If you feel you are going to tilt, leave the game immediately.

5. When you lose too much at your current money limit then go a limit back until you can afford the higher limit again.

6. Play only when you can physically and mentally able to play.

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Source by John Finney