If we consider Poker as our family, bankroll is surely the head of the family. It is the bankroll that determines the number of hands that we play. The profit that we make during the game and the duration for which we are playing. In short, the major decisions during the game are taken, keeping in mind the bankroll to our credit. Ill-management of bankroll can be disastrous. Poker is a game which brings in a lot of profit but if a player's bankroll management is flawed, he doesn't stand a chance at the felt. His winning depends only on strong luck, which is the least important factor in poker. This write-up is your guide to effective bankroll management. So, without any more delay, let us dig in.
Decide on how much you want to invest
Bankroll refers to the money that you wish to invest in betting while playing poker. Bankroll doesn't include your assets, bank balance etc. It is secluded as the amount you wish to spend in playing poker. This segregation itself solves a lot of problems. Decide much before you start, how much you are ready to invest? For some, it might be $10 while others can afford to spend $1000. Don't get carried away if you see others investing more. "Cut your cloth according to your cloth" is the mantra to effective bankroll management.
Most of the novice players are more interested in the profit that poker brings along. Greed to earn more and more takes over sanity. Gradually, the player turns aggressive and starts investing in playing online. If he is lucky, he doesn't suffer losses. But 99.9% losses faced by the player is disastrous.
Keep a record
This is the third step to proper bankroll management. After you decide on how much to spend and set achievable goals for the day, you must also keep a track on how you are spending the bankroll. You must keep a track of how much you are spending per round of betting or per hand. This way you can be sure that you haven't crossed your limit of expenditure. Always try to avoid the auto top-up feature when you play online poker. This feature refills your poker account with money when it is on the verge of finishing. This makes you clueless about the amount invested. So it is best that you re-charge your account manually.
These are the basics of bankroll management. Once you religiously vow yourself to be more sincere at handling funds while you play poker, these three ways will guide you through the development of the basic tendency of sincere bankroll management. Now, don't just be a player, be an ideal poker player.