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Poker Chat from Aiden.. This Month, Budget Management
Today we are going to take a little look at budget management - now trust me this will improve your game providing you stick to rules...
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.
So what should we do?
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.
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.
Trust me when I say that small profits are much better than big losses.
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...
Budget In play New budget
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 through our homepage at www.bethepokershark.com. Alternatively, if you feel you need a little more help with your poker, please remember that all our videos, blogs and help-sheets are available on the site too at no cost.
Thanks for reading, check out more of our blogs here!