Managing your bankroll is a key aspect of playing winning online poker. With the popularity of online poker, hundreds of people sign up to play everyday. With these people playing multiple tables at the same time, it is important to have a good bankroll so you do not go broke.
There are many ways to manage your bankroll. I am going to talk about a system that I am using right now. It has worked very well for me so far.
The Two Way or The Wheel system is a simple strategy that I use to manage my bankroll. I like to play between 500 and 1000 dollars on each table at the same time. This means that I have between 25 and 50 buy-ins at each level.
When I start a session, I like to buy in for the same amount on every table. pokerjazz77 For example, I might play three tables for $100. If I buy in for $25 at each table, I will end up spending $100 during the course of the session itself.
During these $100 sessions, I will buy in for cash games. I do not play in sit and go tournaments or multi-table tournaments. The reason for this is because I do not have a big bankroll and if I lose all three tables, I have lost $100 as well.
At my first sit and go tournament, I took a small loss. £100 to be exact. I had £200 left and I played really well during that session, beating lots of players. I was up about £20 to take back my loss.
The next day, I playing in the same tournament, I play in the first 9 hands and then I start getting short stacked. Just when I thought I have time on my hands, I lose 3 hands in a row! I was absolutely furious. I had about £400 left and I figured that I would just deposit £300 and wait for the next tournament. Well, I didn’t want to do that, I wanted to play immediately, I wanted to play quickly and be back in a day or two. I played as quick as I could and I was out in less than an hour. I had £300 left and I was very proud of that.
So, if you want to try playing online poker, I recommend that you use the martingale system.
Here is a simple example how it works.
You deposit £100 for example into your online poker account. You put £200 in your wallet.
You start playing with £100 on a tournament and you have less than 50 big blinds
You move to another table and you lose £50 (Bad mistake, you play too tight. Neglecting basic poker strategy)
You move to another table and lose £25 (again, awful mistake. I suggest you tighten up for a minute or two)
You move to yet another table and lose £15 (More bad decisions. I think I have made about the same number of bad decisions in a row now. Time to move on)
You move to yet another table and lose £10 (Because I am a terrible gambler. More bad decisions. Playing my cards too tight. Or do I?)
I give up! I give up! I give up on the bet that I have made! I burn cash as I lose money on the play. I take money out of my bankroll as I lose money on the play. I lose money! I keep losing money!
Cash is the life force in my life. I have no idea what to do with it. Online poker makes me feel alive. I have to find a way to make money and get paid. I have few any ideas as to how to do this. I have tried and tested about 10 poker systems. Each and every one has had me burnt to a crisp. I still have not found a poker system that I like. Maybe some day I will find one.