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Poker Money Management Tips

By Richard D. Harroch, Lou Krieger

Part of Poker For Dummies Cheat Sheet

As a poker player, you know that a poker game theoretically never ends. The tips in the following list are suggestions to keep in mind to manage your poker-playing funds:

  • Quitting after you’ve won a certain amount of money will neither stop your losses in the long run if you are a losing player nor protect your profits if you are a winner.

  • Poor players will lose their money no matter what they do. Good players establish an expected hourly win rate whether or not they quit after they’ve pocketed a certain amount of winnings.

  • Playing fewer hours by quitting when you’re ahead isn’t always the right strategy.

  • If you’re playing in a good game, and you are playing your best, stay in the game unless you have other obligations.

  • If you’re in a bad game, get out of it now — never mind if you’re winning or not.

  • If you’re emotionally upset, stressed out, fighting the flu, or otherwise not at your best, you’re better off not playing since your maladies will ultimately take themselves out on your bankroll.