Money Management in Poker

If you’re trying to play poker professionally or play poker for a living you need to remember THIS important poker bankroll concept. Plan way ahead!

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The truth of it is that if you really want to have a good shot of making a career as a poker pro you need a lot of money set aside to cover your expenses alongside your actual poker bankroll.

Money management in poker or managing your finances as a poker player aren’t necessarily complicated, but they do take some of the old-school ‘sexiness’ away from gambling for a living by reducing your risk.

Consider this, if you are having to take money out of your bankroll and you are also unfortunately going through a completely normal poker downswing you may find yourself out of action faster than you realize.

Playing sound poker strategy doesn’t come easily when you’re playing under the stress of being down to your last few buy-ins or rent payments, getting hit with coolers and bad beats left and right.

While making sure you have a large life-roll is important, so is making sure you have a sizable bankroll to handle the regular variance of playing poker.
You’re going to run into a lot of financial hurdles simply due to not being prepared enough for the future if you’re playing poker short-rolled.

If you’re building huge chip stacks already but still looking for how to improve at pot limit omaha, no limit hold ‘em, or poker in general, Phil Galfond is here to teach you how to think like a professional poker player.

Are you a new poker player or a poker beginner? Do you just need the best poker strategy and best poker tips or do you have a high-stakes poker related question you’d like a poker professional’s advice on? Leave a comment and your question might end up in the next one of these quick poker tips videos!

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[Svobodenho]

Every poker player loves this man for good reasons.

[scottoshea]

What! I'll just stick with my current bankroll management system. Which of course is rich for a little bit, dirt poor for awhile, then king of the world for six months, then close to homeless for a couple months, alternating back and forth until I eventually lose my mind.

[LowTide]

Thanks Phil. Could you make an updated bankroll video?

[dylanmagleby]

You've been super helpful to a lot of people without a doubt with these well reasoned and insightful shorts

[phillipsanders]

Thank you for all of your videos! They are greatly appreciated!!!!

[georgewbushcenterforintell]

What's the best stakes to grind a bankroll playing live ?

[tiddlewink]

I agree with your tip in general: however everyone’s goals, risk tolerance, dependencies, ability and commitment to the game is different…which means IMO everyone’s approach to bankroll management should be different - I guess with some underlying solid fundamentals.

[Alexandertygreat]

Invest in stocks, apple stock is better then cash and just as liquid. This is a must. You can put half your bankroll in bluechip stocks or apple exclusively. Apple has more then doubled in the last 3 years. And gives a dividend 4 times a year. Lockheed martin is great as well, one of if not most stable stock with great dividend

[magnetohex]

My number one tip is to just go all-in!. I told the young players to just go all-in with every last penny. And then?, they will owe me 150% 😂

[PeanOutside]

1st step to making money from poker. Have money