New poker players are typically pretty good with learning how to play poker and learning basic strategy before playing, but most don’t learn the other essentials. One of the most important skills to learn is how to build and how to manage your bankroll. If you can’t manage your bankroll then no matter how good of a poker player you are, you will end up going broke. It doesn’t take long to lose a lot of money at the poker tables and if you don’t walk away then it could be bad. Managing your bankroll is a whole other story though, and today we’re just going to look at some tips for building your bankroll as a new player.
* The easiest way to get some extra money to increase the size of your bankroll as a new poker player is through poker rakeback and online poker bonuses. Every poker room offers a sign-up bonus which is typically a 100% bonus up to $100+. This means you can make a deposit into a poker room and receive free money for just playing. You will need to play poker in order to clear the bonus though, so you will need to make sure you don’t lose all of your money trying to clear the bonus money.
* You should take advantage of reload bonuses that become available in poker rooms every so often. Even if you don’t need chips you should take advantage of reload bonuses since you can earn free money by doing what you’re doing anyways which is playing poker.
* Most poker rooms offer new players tickets so that they can enter into a couple freeroll tournaments throughout their first month of playing with the poker room. Freeroll tournaments offer prize money for the top places so you could potentially win some money for your bankroll in these types of events.
* Once you have exhausted the many promotional ways to pad your bankroll you will need to hit the tables. If you’re a new poker player then I would advise playing in sit and go tournaments because you will have better odds of winning money. In a traditional nine player sit and go tournament the top three players win money which is a 33% chance.
* Cash games are the best method for building your bankroll, but you’re also going to have more on the line in a cash game then you do in tournaments. Once you feel you’re good enough to play cash games you can try them out, but if you start losing your money move back to tournaments until you have more experience.
Without any money in your bankroll you’re going to be unable to play poker for real money which means that being able to build and manage your bankroll is more important then practically anything. Once you reach a comfortable amount of money in your bankroll you can begin experimenting with moving up from the low limit games. Take your time and don’t become impatient with making money because remember it isn’t going to be made in a day.