Poker money management

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Jeffrey | Poker Strategy

Poker is one of the most popular casino games in existence today. Whether you enjoy playing online, on a video poker machine at your local bar, simply watching WSOP on ESPN or participating in poker tournaments for real money, there is one aspect of poker that is critical – your gambling money management. In order to ensure that you come out on top and claim a coveted “W”, we recommend that you have a look at our gambling money management tips – poker edition – to prove that you have what it takes to be a poker stud (or femme fatale).

Establish your gambling budget
First things first, you’re going to want to set a gambling budget! A gambling budget is an entirely subjective matter. You know best what you can afford to play with. Just keep in mind that poker tournaments have minimum buy-ins and table limits, so stick to one that suits your budget best. Never gamble more than you can afford to lose, because the number one rule of poker is “leave emotion at the door”. This means that if you’re in the hole, you should never go about chasing your losses, and stick to the gambling budget that you have started off with.

Start small
One of the most underrated aspects about playing poker successfully as well as betting well is starting small. Think of poker in terms of a marathon, not a sprint. Players that throw in too much money too fast will often force them to lose early in the round. Your money management in poker will go much farther if you treat betting like going for a swim. You want to test the waters first before you dive right. This is an excellent strategy, which works not just for poker, but also for any table game. Start with small stakes, even if you know that you’re a better player than the rest, because when it counts you can counter your opponent’s tactics and start betting strong. Slowly up the ante as you start winning, and bet big when it counts.

Pay attention
It helps to pay attention. Poker is all about social dynamics and cues, and many factors include facial expressions, body language, and simply paying attention to what’s on the table can mean the difference between winning and losing. The aforementioned factors will affect your bankroll, and paying attention and applying the proper strategy will ensure your longevity in the game. For instance, if you’re dealt a pair of tens in a game of hold’em be sure not to hold out for three of a kind if they’ve already made an appearance in a previous round. Also, if you decide to bluff on the river, be sure not to let the micro-expressions give away what you’re really holding. Skilled players will catch the difference and it can end up costing you big.

Know when to fold
When it comes to poker, especially when the stakes are high. It can be tempting for players to take big risks, pushing the bets up and playing aggressive in hopes of getting players to fold, so you don’t have to prematurely show your hand. Although it is important to play your hand, sometimes aggressive-play is not the best strategy, especially if you know that you can hold out for a better hand in poker in the long run. Know when to fold when you don’t have a good hand, especially early in the game, because it will better your chances of outlasting players in the long run, and when it counts the most.

Practice. Practice. Practice.
It should come as no surprise that the key to successful money management in poker is to practice the game, through and through. The more you practice playing poker, the more your skills, betting strategy and confidence will increase. If you are looking to keep the chips on your side of the table, then practice the game, and come to memorize the ins and outs. Start by setting up poker tournaments in your buddy’s garage or by signing up to amateur tournaments or playing video poker online before you decide to tackle the big leagues for real money.

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