Complete Poker Bankroll Strategy (Part 1 of 5)
Imagine you are one of 10 guys standing on a basketball court with no ball: you want to play basketball, you may even be really good at it, but without the ball there simply isn’t pkvgames a game. Now imagine you are a poker player walking through the casino and you spot the softest table you have ever seen, but you have no money.
Well in poker, money is your ball; without money there is no poker game! And this is why every poker player must learn the ins-and-outs of bankroll management if they have any hope of succeeding in poker.
Proper bankroll management is as much a key to poker success as your overall poker strategy. No player, no matter how skilled, will always win, so the trick is to have enough money in reserve to ride out any losing streak that may come your way.
Real life poker isn’t like what you see in Hollywood movies, nor does it resemble the legendary stories you hear about, where some superstar poker player risks it all in a single hand: Oh NO! Real professional poker players understand the importance of risk vs. reward in poker, and would never put a sizable amount of their bankroll on the line for quick, short-term, results: This destroys their long-term edge.
This is the old coin-flip proposition, where a billionaire gives you $1,000,000, and says “you can either keep the million, or I’ll give two-to-one odds on a coin flip for $1,000,000.” The problem is you only have $1,000,000, so even though the odds say “TAKE THE BET” your risk is simply too high; and 99 out of 100 people would simply keep the million.
It sounds very simple: Don’t risk it all. However, there is still an unanswered question, “how much should I risk at any given time?” And unfortunately the answer to this question isn’t so simple: There are numerous factors that must be taken into account when you try to determine exactly how much money you will need for your poker bankroll.