Money Management 101 – Poker Bankroll Managing Tips

At the dawn of the 20th century, poker has gained popularity from the simplest of people (especially men) to the luxurious class particularly those that belong in the upper social strata. Poker is a type of card game that is frequently included with betting. Poker is a staple game to the rich and powerful as high bets makes the game far more interesting and exciting. There are many addicting card games that differ from the very simple game rules to very complex ones.Of poker and bankruptcyOverwhelming bets beyond a poker player’s capacity is the culprit behind “poker brokenness”. That’s why poker is also known as the rich man’s game. Sometimes players tend to go beyond their financial capacity when placing bets during poker games. They say the amount of bet and the total amount of time spent in games is quite reflective to the player’s level of addictiveness.Players should also develop self control and discipline most especially if they have personal careers that they want to establish. Jobs and family usually suffer from poker addiction. Addicted players tend to spend more time and money to poker games compared to the time spent on their jobs and with families.Celebrities are also hooked into this game. These celebrities include Tobey Maguire, Ben Affleck, Shannon Elizabeth and even the Olympic Gold Medalist Michael Phelps. Some of these poker players have turned into professional poker players and some of them play poker just for fun. However, British singer Robbie Williams is reported to have been seriously addicted to pokers. News of him starting to go broke is yet to surface.Poker bank roll managementDiscussion is still sparking everywhere whether a ceiling rate should be put in a given level in a poker game to avoid bankruptcy or getting broke. In some game houses, a ceiling cap was placed for betting players that they usually ignore. If you have decided to play poker for a living make sure you have a “contingency fund” in case of short term fluctuations.Poker can promise you a higher amount of money when you win. However, you are only one of the eight to ten people who are also willing to do anything to win the amount. Most often than not, players succumb to great losses.Bankroll is the amount of money that a player can afford to lose which is a common scenario in poker games. It is the total amount of money which is specifically allotted and used for playing.The following tips and disciplines are for effective bank roll management:1. Set parameters when playing poker. Once you have reached your limit, take a well – deserved break. It is likely that when you stopped playing, the urge to play again and trespass your limit is greater and a harder habit to break. What you can do is to involve yourself in other activities such as eating, watching TV and the likes.2. Don’t play when working. Your job feeds your family and secures your future. This should be a priority.3. Don’t vent out your feelings to playing poker as you will most likely and definitely be overwhelmed to spend longer hours and placing higher debts. Emotions make you vulnerable that will lead to serious habits and addiction to poker.4. Don’t play or bet beyond your financial capacities or limitations.Poker has developed from real life playing fields whether at home or in Nevada to virtual games. Whichever type of poker you want to play, make sure your think of your families’ future before placing any bet. Make responsible decisions and make sure you control poker not the other way around.