Do you enjoy a good game of poker but sometimes find yourself with less money left at the end of the night than what you had when you started? Perhaps, you need to put a bit more focus on how you are managing your winnings and the poker money management strategies that you have in place.
There are all sorts of ways to keep track of your winnings but the winning poker money management strategies require a bit of planning and some diligent effort on the part of the player. Why? Because it is easy to get swept up in the emotion of a winning streak and feeling invincible. You know the feeling. You have been dealt a winning hand four times in a row and you’re feeling good. Nothing can go wrong. Then that little devil on your shoulder whispers in your ear, “Go ahead, son, bet it all. You’re holding three Aces. You know you’ll get the fourth one.”
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So, you listen to your little, red companion and push all your hard earned money to the center of the table. You wait for your turn to come around and casually smile at the dealer. In your best Clint Eastwood, you sneer and say “Hit me.”
You pick up the card the dealer just slid across the table to you and you feel your heart drop… a Two. The little devil jumps off your shoulder and onto the guy who is holding the Royal Flush two seats down. After all, you’re broke now… he’s got other work to do.
That, my friend, is why you need a winning poker money management strategy in place before you head out to play.
The simplest form of a poker money management strategy is this: I will take this much with me to the game. I will bet no more than this amount on any one hand. If I lose this percentage of that money, then I will call it a night and go home. Only bet with the money you came in with. Everything else is winnings and you will want to keep it tabulated separately. This way you aren’t tempted to shoot the moon and bet everything you have on a single hand. This method also allows you to decide your own acceptable losses before hand and build the inner strength to walk away from that “sure thing” that might cost you your house. This is a great method of reducing impulse gambling losses.
Another great way to learn winning poker money management strategies and skills is by going online to the game rooms that play with fake money. In these rooms, you can put your strategies into practice and test them for accuracy without risking your real money. By practicing your strategies in the safe play rooms, you also learn where your weaknesses are so that you can defend yourself against them when it comes down to playing with real money.
Other winning poker money management strategies can get fairly in depth. Sources for these strategies can be found in any number of books geared towards the poker playing crowd or on forums for poker players who wish to share their experiences.
In the end, no one poker money management strategy will be right for every player. Each individual has their own ideas of what amount of money is an acceptable loss and what their personal limits are. The object is not to enforce a strict set of rules to the strategy for everyone but to allow the individual to decide their own limits.