Basic Tips on Poker Bankroll Management

Managing your bankroll should be the initial step one player has to do in order for him to establish a long-term relationship with Poker. But how can you manage your money? Do you still need to run your bankroll even though you have the chance to win more money? If you’re answer is “yes”, then consider yourself an expert poker player.

Before joining any poker game, you must first consider your assets. Assess what your strengths are. Some players claim that by using their knowledge and skills about poker, they can easily win the game. In poker, that’s not the case. The first thing you need to accomplish prior to playing any poker game is to allocate an amount of money just for playing poker. This amount should not affect, in any way, your personal expenses. Your bankroll should come from your extra money which you are willing to lose if you decided to play the game. Take control of your bankroll. For instance, you only have $100 for your initial bankroll. Don’t spend all this in just one game. Try to distribute your bankroll to different games. You can choose from No-limit with 15-30 buy-ins or 300 big blinds for limit games. If you think that you don’t have the chance to win, especially in the betting round, you can step back and wait for the next game. Don’t be a risk-taker. Make sure that after a game, you still have ample amount of money left in your account.

Learn to Calculate your Pot Odds

To become a successful poker player, you must learn how to calculate your pot odds. a Poker pot odd is the ratio between the size of the pot and the amount it will cost you to call a bet from another player. If you have a higher ratio, then you have a good pot odd. For instance, there is $50 in the pot after the flop, and a player bets $20 and two other players call the bet, then you have 9:1 in your pot odds.

Another way you can calculate your chances for the pot money is by using your hand odds. By calculating you hand odds, you will know the probability of hitting your hand by the river. How does this work? Let say you have an A-K of spades in your hand, then after the flop, two spades comes up. So your hand odds for hitting another spade by the river are 3:1 or 36%. Remember that there are 13 spades in one deck. If you already have 3 spades in your hand, then you will probably have a chance to choose from the 9 spades left on the deck (not visible to you). These are called outs which are the remaining cards in the deck. You need to multiply the outs by 4 to determine your hand odds (9 x 4 = 36). This is the approximated percentage of the possible hands you will be hitting by the river.

How Does Button Play work?

Button is the event where your hand range is at its widest. This means that you will be dealing with many hands that you can use to raise or call during betting rounds. You should consider all suited aces and kings in your hand so you can have a higher probability of winning the game.

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