Poker Budget Management Explained: How to manage your money and earn more playing poker!

A little look at budget management – Trust me, this will improve your game providing you stick to rules you’ve laid out

A project left to run without budget management and re-forecasting will lead to failure. Frequent budget oversight is essential in preventing budgets from getting too far out of hand. 10+ Budget Management Template Managing a budget is an important task and a difficult one as well. For a sound financial future, it is required to see how much you are earning, what exactly are the expenses and how much you can save. Practicing sound poker bankroll management involves recognizing that the amount of money you have in your poker bankroll should always be dictating the stakes for which you play. That’s easy enough.

The good thing about poker these days is there is always a game to be found online regardless of your budget, but not every player stays in their budget range. The problem for a lot of players is that a large majority of people still look at poker as 30 minutes of gambling – but these sorts of player will tend to deposit a certain amount and put the whole lot at risk in a mater of minutes.

How to Manage Money in Poker

Well, different people deal with this principle in different ways – personally, if I know I have a certain budget to play with, then I like to stick to a few (in my opinion) helpful rules. Say I have a certain amount as my bankroll for one day, in my first game I will look to put between 20 to 25% at risk. So lets say I’m risking 25% in my first sit down, and assume things went badly, so I’ve lost the 25% of my initial budget.

Ok, so I’m down but I’m not out, at least I’m managing my funds, and giving myself the best chance to get back in the game. So now we must go out to play again with 75% of your initial budget remaining – so in order to ensure I last a few more games, I’m going to set myself 25% of what I have left to play with, so even if the worst were still to happen in this game, I’ll still have over half (56.25%) of what I started with, rather than nothing.

Poker Budget Management System

However, obviously saying that you’ll lose (at worst) 43.75% of your budget in two games is a worst case scenario – we’re hoping that, with our help, you aren’t losing at all and you’re on your way to becoming a poker shark!

So on this second stage of play, let’s say I’ve had a good win and increased my bankroll – now, rather than go and risk all my winnings, I’ll apply the same rules to what I can risk in the next game. This will mean that regardless of the result in the next game, you’ve still got a good portion of your winnings.

Small Profits are Better than Big Losses in Poker

Keep this up and you will be making a tidy profit in no time, and even if you fail to win – and with the help on this site in our video lessons section or the information in our blogs, you shouldn’t – then the amount of game-play you will get for your cash, and level of experience will no doubt increase.

How long could, say £100 last on a 25% scale? Let’s work it out…see the handy table on our site. Click here!

So, sticking to this rule we’d get 11 games out of our money – however, this is a real worst case scenario, but does show that for this money you’re getting a lot of gaming experience. Obviously, if you’ve been working through the advice we’ve been giving out, for free, in our videos, blogs or help-sheets, then you really shouldn’t be losing 11 games in a row anyway.

If you have any queries or anything you’d like to ask us – please get in touch! Alternatively, if you feel you need a little more help with your online poker, please remember that all our blogs, guides and help-sheets are available on this site at totally free!

Everyone who loves poker is well aware how important it is to practice good bankroll management to succeed at it in the long term. Even though it might seem like a simple thing to do, even some very seasoned poker players have a hard time managing their finances.

Smartly managing your money can not only enable you to play the game for the long term, but also play higher stakes. Not just that, effective bankroll management can even ensure that you get to keep the money you win by playing good poker. No matter which online casino or poker room you may be playing at, following certain tips and strategies can help you significantly in managing your bankroll effectively while playing this game. Let’s learn about them below.

Never mix your poker and personal finances

It’s very important to treat playing poker as a form of business. The money invested into it should be treated as the capital introduced into a business. No matter how much money you have allocated to your poker bankroll, you must avoid spending it elsewhere. Never count on this money to make any regular bill payments. Hence, always be smart about what you can commit to this game, or business. Taking money out of a business can make it fail. After all, money makes more money in business, and in poker.

Always stay within your bankroll

Poker has taught a lot of good lessons to people from all walks of life, including entrepreneurs. However, one important lesson that all poker players should remember is staying within their bankroll when playing this game. It might seem tempting to invest into high-stakes cash games involving crazy action, but you should avoid the temptation. Never get involved in them if your bankroll doesn’t allow you to. Stick to the regular stakes, else you might go broke in no time.

Avoid making desperate moves, just to stop variance

Don’t get rattled whenever you are faced with the inevitable downswing. Keep playing your normal game. Many a times even the best players make bad moves and go crazy when faced with the inevitable variance. Please know, variance doesn’t have any memory. Therefore, losing a hand doesn’t imply that you will lose the next too. It also doesn’t guarantee that you’ll win it either. On the whole, you should avoid playing recklessly or higher stakes just to chase your losses.

Reduce the stakes whenever necessary

Don’t feel any shame or shyness in reducing the stakes when you need to. If your bankroll has decreased considerably, it would be only sensible to move down the stakes until you’ve gather enough funds to start playing regular stakes again.

Keep a tab on your poker sessions

Poker Budget Management Services

Being aware of the type of poker games you’re good at can help you win consistently over the long run. Not keeping track of your games and their results will make it very hard for you to know which games are profitable and which ones not. Keeping track of your plays will also tell you about the improvements you need to make in your game.