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The Planning Side to Poker
Just like any sport or other practical activity, poker has a theoretical side to it, a side that you would have to know if you want to make playing poker profitable. Aside from the numbers, math and probabilities that are most often associated with poker theory, bankroll management is also a major topic of discussion.
Yes, bankroll management. Although it might sound like a very trivial thing and carries no words more highfaluting than 'budget,' bankroll management is something that you must familiarize yourself with and, eventually and preferably, master if you intend to play poker in the long term.
The Importance of Poker Theory and Managing Your Bankroll
Just diving into a poker game with no thought about planning based on your past or planning for your future isn't a problem if you're the regular Vegas Strip tourist. If you're a serious poker player who intends to make a profit, though, that won't do. Effective planning, which is the best application of much poker theory, is absolutely crucial for long-term players. That fact cannot be overstated. Just imagine how it would be if you were risking real money - money that could've been used for food, clothes and other necessities - in a field where assured income isn't easy to come by, and then you played in that world without a proper plan or goal in sight. Such a situation could be called desperate, dismal, or simply dumb.
In order to make real profits in poker, you'll obviously have to use real money. The saying about requiring money to make money rings true for poker. Proper and efficient use of that not limitless money is another application of poker theory. However, bankroll management clearly takes center stage where money is involved, especially if you don't want to wind up like the clich� but still realistic image of the wiped out gambler.
Some Bankroll Basics
One of the simplest and most primary things in bankroll management - and any experienced poker player would back this up - is for you to keep your poker funds separate from your personal funds. While it's certainly tempting to have just one account for both playing and personal needs so that you can instantly enjoy your winnings, it's also very probable that the money will flow in the opposite direction. With a single account, it's much, much easier for you to completely wipe yourself out on the poker tables by insisting on continuing a session, especially when you want to make up for a bad hand or a big loss that happened earlier. You might be reassuring yourself about how such a thing wouldn't happen to you, but you might not be thinking as clearly when a desire to gain (or regain) money and gamble takes the driver's seat. It's still an all-too-common story, and you most probably wouldn't want yourself to be the star of that particular tale.
When you play serious poker - and more importantly, when you begin doing so - you'll necessarily need a big bankroll. And you shouldn't be just preparing for several dozen buy-ins; think in the magnitude of a few hundred buy-ins. Depending on the limits where you play, such an amount could run up to several thousand dollars. This is so the variance in your daily poker games won't affect the overall total that much, while allowing you to play continuously for a long period, thus letting you profit in the long run.
While many still view poker as a game of sheer luck, the game can be broken down into several smaller components, which you can then plan for and study individually. The beauty of poker theory, such as bankroll management, is that it addresses some of these specific components that are unseen but are nonetheless integral to the game.
