Rules of managing your bankroll
A very important step in the casino world is learning how to manage your bankroll, regardless of the level of the game you are playing.
First of all, bankroll is the amount of money you keep aside to play only. This is another part of your finances.
Of course, there is a risk to lose your bankroll, and if it is not managed, it can affect your day-to-day financial responsibilities.
Rule number one: avoid playing more than your affordable limit. That is because the possibility to lose money is always present so you should never put money at risk more than your financial limits, even if you are a perfect player. You can be in financial problems otherwise. Moreover, you should not put your entire bankroll at stake in a single hand or tournament. You should use your bankroll in small fraction every time
Secondly, keep your goals in your mind. Usually, people play with three types of mindset. Some play it for recreational purposes whereas some to make some profit along with entertainment but, for example, poker is not their main source of income. The third category of players includes a professional player for whom poker is the only income source. So while playing poker you should strictly keep in mind your goal while putting your bankroll at stake.
Third, play within the permitted limits of your bankroll: Whether you are playing a sit-and-go tournament, Texas Hold'em with fixed limits, or Multi-table tournaments you should avoid playing higher than permitted by your bankroll. As a thumb rule, you should not risk more than 10% of your bankroll if you are a recreational player. But for serious and professional players this limit can be a bit higher, depending on their expertise and type of tournament. A recreational player can start playing with $100 in his bankroll to use $10 at a time. But for serious players playing on $20 STTs, it should be around $500 and for professional players, it should not be less than $2,000. The tournaments like MTTs are for serious and professional players only as they require at least 50-200 buy-ins in your bankroll. The bankroll of serious and professional players should have money for up to 300 big bets to play fixed limit Hold'em safely.
Fourth, play within your comfortable limits. You should stop playing if you feel that you are playing too high then your limits, even if your bankroll can afford to continue the game. In such situations, people usually take wrong decisions due to nervousness and the game no longer remains enjoyable. So, recreational players should play within their comfortable limits to enjoy the game.
In this way, by managing your bankroll properly you can have an enjoyable experience while playing games on online casinos.
