WHAT EXACTLY IS BANKROLL MANAGEMENT?
Almost all poker players have at least once sited poor bankroll management as the reason for their brokenness. But in reality, what do we understand by bankroll management? It is a strategy which involves understanding and acknowledging the fact that that amount of money in your pocket should dictate the stakes played.
What is the right size of a poker bankroll?
There are concepts which state never to buy more than 2 percent to 5 percent of your bankroll. While others advice players to pull out of a game if they lose more than 10% of their bankroll. In reality, there is not ideal size and like the most other features of poker, it depends from player to player and their experience levels.
The ideal properties of bankroll
Here are a few points which will further help you to understand the concept of bankroll management in this crazy game.
You should keep your poker bankroll for the game only: in poker, you should remember to use money which you can afford to lose. It is a game of probability and even seasoned players end up losing unexpectedly. During these times it becomes extremely necessary that you stake the amount which you keep aside for poker only. To make things simpler, if you have $1000 dollars right now, but you need to pay your utility bills with $500 then you have just $500 for your poker bankroll and not $1000! Because the moment you start playing with money you cannot afford to lose, you start panicking. Almost all your decisions will be governed by fear. Even poker masters are known to lose during these stressful situations.
2.How important is this bankroll for you: this is mostly governed by your current job and financial situation. In most cases when players have a stable job, losing $500 in one game does not seem like a big deal. But for students and people struggling to make ends meet every month, even $100 is a huge amount. So the matter you need to consider is, if you lose your current bankroll will you continue playing or will you take a long break from the game for replenishing your funds? If the answer to the last question is a “yes” then you need to be extremely cautious with your fund. The most important purpose of poker bankroll is to act as a cushion for losses.
3.What is your comfort zone? In many cases players like to start off with smaller bankrolls in an attempt to climb stakes faster. However if you are aiming at this you must remember that this increases the probability of having to move down levels as well or even lose all your winnings. On the other hand, many people are more comfortable playing with larger bankrolls as these prevents them from dropping down the stakes after a bad game.
Bankroll is one of the very few aspects of this game that we can actually control. Hence all experts emphasize on efficient bankroll management for controlling the variance factors of the game.
Types of Games: The Most Played Online Poker Versions from Around the Globe
Online poker is a virtual nation of poker players which unites the connoisseurs of this game from all over the world. People can play the game from their own home. Many online sites do not even require registration fees for the players. In these online casinos players can choose to play just for fun and also for real money.
The basic principle of this game is extremely simple as the players strive to get the best five card sets in hand. To add variation to this already crazy card game there are multiple other versions of poker which are played all across the globe. Let us explore a few of these poker versions which keep millions hooked for hours at a stretch-
Texas Hold’em: this is possibly the best known poker version. Even nonplayers know this version just by reputation. This is a fast, 7 card game where every player gets 2 face down cards and the others are dealt in the center of the table, face up. These community cards are shared by all the players. This poker game has two sub-variants; the pot limit and no limit Texas Hold’em poker. In pot limit the player must raise the stake such that it is between the minimum limit and the money in the pot. In the no limit version, the player can raise any amount from the higher of the last raise or the big blind.
Omaha Poker: this is a community card game quite comparable to Texas Hold’em. In Omaha poker each player is give four hole cards, the players are allowed to use exactly 2 cards from their hand and three from the community board. The blinds are posted by the two players to the immediate left of dealer before the cards are dealt. This is a very fast paced game with just four rounds and a Showdown. In Omaha version of poker, ace is the highest ranked card.
7 card stud: is version of the game is played with 8 players (excluding the virtual dealer). This version is very different from the others mentioned before since it does not have any community cards. Each player is dealt his individual hand. The first two hole cards are dealt face down and the next 4 cards, called Streets, are dealt face up. The last card is called the River and it is dealt face down. The betting is usually initiated after the dealing of the 3rd street by the player with the lowest street card.
5 card stud: this is a very similar version, which is played with up to 10 players. All the other rules of the 5 card stud are almost identical to 7 card stud except this game is played with 5 cards. One card is dealt face down followed by 3 Street cards and one River.
There are many versions of this lively card game with multiple variations of rules and regulations. However all versions of poker have one thing in common, they are all games based on skill and astute game strategies which distinguish a poker player from a winning poker player.