Maintaining Your Bankroll
After you book a large win, be hesitant to spend large amounts of it without considering the alternatives. In poker, money is the tool of your trade, so be careful what tools you give away needlessly. By putting money away for a rainy day, or using it to become more proficient in larger games, you can invest in yourself, and use that money to make more money, which is every poker player’s ultimate goal.
If you book a large win, consider alternative ways in which you can make that money work for you. For long run security, buy some stock and invest in a company that has shown steady growth over the long run, or buy a mutual fund. Pay off outstanding debts to avoid long-term interest charges. Carrying large interest charges eats away at your bankroll, so strive to stay as far out of debt as possible if you play poker .
Investing in other players, known as staking them, is a more high variance investment, but can pay large dividends depending on how you structure the deal, and what tournaments or games your stake plays in. always be in control of your investments, and keep careful track of them. Investigate the history of the person you are staking and evaluate them like you would evaluate a stock or any other large ticket item you would spend money on. Don’t think twice to turn down a friend with a bad track record and a gambling problem.
However, if you do want to dedicate some of your win to a little indulgence you’ve been planning on buying, just insure that you have enough left in your bankroll to keep playing poker, and keep earning money to keep yourself in the game and keep progressing. The most important part of poker is evolving and becoming a better player, and handicapping your development for a luxury item is a short term mistake that can yield long term consequence.
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