Playing online poker or online bingo for money is one of the most fun things you can do in life. The problem with this, though, is that the amount of fun you have is usually proportionately related to the amount of money you make. And, if you have been playing poker online for any period of time, you know that even an immense knowledge of all the specific poker rules and a perfect poker strategy can’t make up for a small bankroll. It is important to have a significant poker bankroll while playing online. While you may not be able to take money right out of your bank account to fund your poker playing, you can build quite a large bankroll, if you stick to the following guidelines.
Have a Plan
As with most things in life, you must have a plan if you want to be successful. Building an online poker bankroll is no different. You should plan everything out, set goals, make specific targets and follow them. It is not enough to sit down at a table and start playing. You need to have a solid plan if you want to build a solid poker bankroll.
We live in a society of instant gratification. Everybody wants everything instantly. They don’t want to pay their dues and grind away to build up their bankroll, they just want to make a few big moves and be done with it. This is the wrong attitude to have.
Take your time, make smart decisions and don’t rush. When you rush and try to advance too quickly, you end up making costly mistakes and end up with less money than you started with.
Don’t Go ‘On Tilt’
One of the worst things that can happen while you are building a bankroll is to go ‘on tilt’. If you don’t know already, ‘on tilt’ is when you become unfocused, make some very poor decisions, and lose a lot of money in a short period of time. It is purely a psychological thing that can be brought on by a bad beat or another player getting under your skin.
If you go ‘on tilt’, there is a good chance that you will lose quite a bit of money, if not your whole bankroll. This can happen very quickly, especially if you are just in the beginning stages of building your poker bankroll.
To avoid this, keep your mental game strong, and if you bust out of a game, don’t buy back in immediately.
Practice Proper Bankroll Management
Proper bankroll management should be a part of your bankroll building plan. This may sound obvious, but so many players don’t focus on proper bankroll management while they are building their bankroll. They think, “That’s only important when I have a bankroll built up”. The truth is, it is even more important when your bankroll is small and you are still building it up. At this stage in the game, one bad move can take out a significant chunk of your bankroll. Make sure you are practicing proper bankroll management when you are building your bankroll.
Measure Your Results
The one thing that almost all unsuccessful Texas Hold’em poker players have in common is they don’t track their results. They just start playing in large poker tournaments or in other formats of poker games and hope for the best. This is the worst way to go about building a poker bankroll.
To be as effective as possible at the poker table, you need to track everything. You need to track how many hands you are playing, how much those hands are winning you, what hands are losing you the most money, and anything else you can think of. Luckily for you, there are programs that can do this automatically for you.
Do yourself a favor. Track your play. Not only will it help you build your bankroll, it will allow you to become a better poker player.
Building an online poker bankroll doesn’t have to be difficult. All it takes is some knowledge, some time and a lot of patience. Head over to your favourite online poker room and give it a shot today!