Having a solid bankroll is imperative to online gambling. Without a good starting bankroll, players can only enjoy their favorite games for a short amount of time.
By learning how to set a starting bankroll and build upon what you already have, you can then have a good base to play Hold Em or Omaha, among other exciting and popular real money casino games, hopefully able to prolong your game play and make a profit.
Here are 5 quick tips to get you to make the most out of your online bankroll.
1. Determine The Best Bankroll to Play With
There are a few factors to consider when trying to determine the best bankroll for your gaming needs. Think about how many hours you will be playing and what type of poker you wish to play. Will you be playing for several hours or just two to three? The play time weighs heavily on how much you need in your starting bankroll. It is also important to consider your daily bankroll versus your starting bankroll.
Never play through your entire bankroll in one day. You won’t get anywhere if you spend all your money in one day. Set a budget for your starting bankroll and see how you stand after a set time frame. This will help you to determine how much you need for sessions and you can build on your bankroll from there.
2. Pick Table Limits Within Your Budget to Maximize Profits
To maximize your earning potential, you will need to pick table limits that are within your budget. Consider your total bankroll and use the 0.5% to 15% rule. If you have a bankroll total of $1,000, you should play with $150 Max, which is 15% of that amount. Table limits should be set at $0.50/$0.75 so that you can make your bankroll last. Try to have a minimum of 100 Big Blinds so that you can play for an extended time frame.
Example of managing your bankroll and table limits:
3. Keep Historic Track of You and Your Opponents Hands
Using PokerTracker is key to having access to hand histories. You can then use this information to analyze the hands that you played and make better decisions in the future. Read the information to see how opponents react to your game play and then read their decision better in real time when you play them again online at a later date.
4. Max Daily Bankroll Should Be No More than 15% of Total
It can be easy to get carried away when playing online poker. This is why it is essential that you have a plan of action going into gaming. Always set a max daily bankroll of no more than 15% of your total. So, if you have a bankroll of $1,000, then the daily bankroll would be set at $150. You must be mentally prepared to lose this much money on any given day.
5. 30% Tournaments & 70% Cash Games
Players should take advantage of both tournament and cash game play. This is where the 30/70 Rule comes into play. Tournaments offer guaranteed prize pools which will ensure if you finish well, you earn a prize. However, cash games are where you will make most of your money. Choose to dedicate 30% of your bankroll to tournament gaming and 70% on cash games to be successful.
If you follow these tips, you should be able to see your bankroll stay strong, allowing you to continue with regular poker gaming, any time you like. Making smart decisions ensures that you always have cash in your account, instead of having to reload on a regular basis.