Common Beginner Poker Bankroll Mistakes - Poker Bankroll No-nos
Some common mistakes that new poker players make regarding their poker bankroll, and tips to avoid making these mistakes.
Defining Bankrolling
The first aspect of this article to be covered is establishing a clear-cut definition of what bankrolling is. The term can be used in many circumstances, not just gambling. What it basically means is that if you bankroll, you put the money up for someone else (in this case, to gamble). A bankroller is providing the necessary capital in any given venture, and in this case is enabling someone without enough money to go out and gamble. Sometimes though, bankrolling can be an individual thing. In other words, bankrolling is the money one has allocated to playing poker – the budget one has set.
Common bankrolling poker problems
People – especially those new to bankrolling – make tons of mistakes with poker. Ultimately making such a mistake costs money – one can really lose a lot of money if they are not careful in this area. So what one has to do is set out to avoid as many of these pitfalls as possible if they are to try and win in poker. You want to make sure you really can stick to your budget. Just like there are good drunks (those who know when they’ve had enough) and bad drunks (those who don’t), there are good and bad bankrollers. The ones who can stop at any given money are the ones who are going to ultimately be the most successful and stick at their gambling career.
Be wary of poker books
Don’t believe everything you read. It is a common mistake to think that you can just find all the top strategies and tips you need forever to win every single game of poker you’ll ever play. That could also lead to you losing your head a bit. You’ll just say to yourself, “oh, but now I have such great tips; I know what to do; I can increase my bankroll because for sure I’m going to win.” This is a huge bankrolling mistake. Sometimes you might pick up a tip or two in a book but it will never be a sure-fire way to always win your game. Don’t get too sucked up into the marketing.
Be careful at which tables you choose to gamble
While it may seem way more exciting to gamble at tables with super high limits (because the potential wins are just so high too), at the end of the day, you’d be better off gambling at lower limit tables so that you just can’t blow all your money in one go. Remember that as in all gambling games, poker is extremely volatile and while at some point it can seem as if you are winning everything, chances are you’ll end up with more losses. Wins are just usually extremely short term. Which is why sensible bankrolling is so well-advised.
A general statement on bankrolling
In general, what you should be aware is that the amount should be at least 200 to 300 big bets at the level at which you’re playing so that if you’re playing $1-2 games, the bankroll you have has to be $400 plus. Stick to that rule and you’ll be just fine.