Description of Bankroll Management

Unfortunately, many online players don’t have a good system for maintaining and tracking their poker bankroll. They might have a general idea of what they have put into online accounts and some foggy idea of how much they have won or lost but they don’t really track the movement of money into, through and out of a bankroll account.

That’s where some of the current bankroll management software comes in. There are several good bankroll tracking/managing programs available. One company correctly markets the product as a “lifeline” for the serious play. These bankroll tracking plans provide up-to-date numbers on earnings per hour, earnings per session and more. Some even give you a heads up if you are nearing the danger zone.

Bankroll Management Software

In the world of bankroll management the best software does much of the calculating for you. For a one-time fee these programs will work with the most popular online poker rooms.

So far, most of the bankroll managers are designed only for Windows operating systems. A few allow you to get the software without charge if you sign up to a new poker room that is associated with the bankroll software offer.

In addition to the fee-based programs that will help you manage your bankroll there are free programs that provide many of the same services. A couple of these management plans work well with online poker rooms and as stand-alone bankroll managers if you play only in live rooms.

If you are ready to look at your online poker action as a serious business, you may be able to boost your profits by managing your bankroll more efficiently. Use one of the software templates to set up your account tracker, and then start playing to win!

Most serious players in the world of online poker have a solid knowledge of card odds, pot odds and other important game statistics. A few of the more successful players even understand Dan Harrington’s “M Zone” concept and the “gap” concept offered by poker greats like Mike Caro and David Sklansky.

But only the most successful players put serious emphasis on bankroll management. A lot of the players may be frightened away by the idea of financial information, spreadsheets and so on. However, the idea behind managing a poker bankroll is relatively simple. Online software programs make it even easier.

Education and Reports

These two words may scare a few players away from bankroll management but in truth the process is relatively easy – if you use a well-designed online management program. A couple of the better plans even give the player a bare-bones lesson or two on the idea of the poker bankroll.

You could manage your bankroll with a simple ledger book, entering the numbers with a pen or pencil and doing the calculations on your own. You might also choose to enter the figures in a spreadsheet template so you can track the movement of your poker money. This information has to be entered on a consistent basis to have any value.

You could also try one of the integrated bankroll-management programs that work with popular online rooms. The best of these gather numbers as you play and track your bankroll experience for you. (One of these automatic programs could keep you from ignoring the “bad” sessions, which only produces inaccurate reports of how your bankroll is doing.)

Cost Should not be a Factor

Serious online players should view bankroll management software as an investment. Even if you choose one of the basic, free programs or use a simple online spreadsheet, you should consider the time you spend entering data as an investment in your poker career.

Whether your management plan is as simple as a “cash in” and “cash out” sheet or something a little more complex, it would be wise to begin tracking your bankroll today. You can set targets for the week or month, customizing your report based on stakes levels. You can also track the movement of your bankroll based on earnings, time and location. Graphing your bankroll experience might be the key to more profit! Why not take a little time now to look into one of these solid management programs?