Poker Money Management

You hear about money management being important in sports gambling, horse racing, casino games, etc. It is also very important when you are playing online poker. Let’s take a look at what you need to remember in regards to online poker money management. You have to remember that online poker is a fast paced game.

That means you have a lot more hands to deal with. You will see anywhere from two to five times the numbers of hands per hour than at land-based cardrooms. This means that the blinds come around much more often and your chips are put at risk more often.

In a fast online poker game when things are not going well you are going to lose more money. That means you money management had better be good. You have to remember that many online poker players play a loose style when playing online. That also lends itself to poor money management. Players tend to try more things and get too fancy. They try more bluffs, call more bets with marginal hands, and do a lot more chasing. This is not a good thing for money management.

What can we do to practice good money management at online poker sites? The first thing we can do is set limits. We don’t want to lose more than 10% of our overall bankroll in a day. That means you shouldn’t buy in for more than 10% of your total bankroll. That means if you want to show a big stack at the table it still needs to be 10% of your overall bankroll. Let’s say you have a $1,000 bankroll. That means you only bring $100 to the table. If you want to be smart that means playing at a very low limit. $2-4 is too high for a $100.

You are better off at a 50 cent table. Some people will say $1-$2 is okay but in reality you should have 200 times the big blind if you really want to be in a power position. That really means if you want to be playing at a $2-4 table you should have a large bankroll. You need $800 for the session and that means you need an $8,000 bankroll to play. These are just the cold hard facts in regards to smart money management. Most players don’t have it and most players don’t win money.

This 10% rule for online poker money management gives you a chance to win and keeps you out of trouble. If you win money that is great and you can keep playing. If you lose, at least it was only 10% of your overall poker bankroll. That is what money management and discipline are all about. There is always another day to play poker. Practice smart money management and you will be around to see it.