Marty Smith asked:


The most common error with new online poker players is bankroll management. That generally relates to playing in a game or tournament with too much of their poker bankroll at risk at any one game. This may be a shocker for you new players, but if you have just deposited $100 and that is your worldly poker bankroll then you should be playing no higher than $2 sit and go tournaments and .25/.50 limit ring games. Many of you probably thought that depositing $100 was going to last you some time, but playing over those guidelines will prove to be costly for players still learning the game.
The biggest rule breaker in regards to bankroll management is playing above your skill level and your poker account balance. Playing above your bankroll translates into this… those who do so are the fish of this game, because due to the mathematical variance of this game which can be tough sometimes, you will downswing – even when playing to the best of your ability. Now, WHEN you do downswing your bankroll will be adversely affected to a point where you may have to reload – if you were playing at a limit too high. This should hardly ever happen if you are serious about building your skills and bankroll.

In other words, if you lose a tournament or have a losing session, at worst, you may be forced to move down a level, but by sticking to some tight bankroll rules, you won`t have to reload. The pro players often recommend a general rule of thumb to never have more than 10% of your bankroll in any particular game or session. For new players, that is WAY TOO high, because their error variance is far lower than yours. You should consider 5% the maximum while playing even lower is probably better because of the fact, that you are also building skills and getting valuable experience. You want your funds to go as far as they can while you sharpen your skill set and learn to adjust for the wide variety of opponents you will find online.

The absolute, best way to learn and win at online poker is to use OPM or other players ‘ money right? I mean what could be better than not only getting better and learning at the game, but doing it on somebody else ‘ s deposit? With that in mind, stick to a low deposit between $50 and $100 and challenge yourself to make it last as long as you can. I am not talking a few hours here, I am talking weeks. Play at the micro levels because there is where you will find the weakest competition. If you can’t beat the micro limits and $1 and 2$ full tilt sit and go tournaments then you might want to do some more reading and studying. A poker calculator can help, as well as posting your controversial hands in a forum for analysis. You will not find a shortage of other players willing to help.

Eventually you will find that your $50 grows to $100, then $150, then $325 and so on. All taken from your opponents accounts, not yours. That is when you know you can move up to another level, start multi-tabling, and get into deeper analysis with your own play and reading opponents.



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Jessica G asked:


Do you have to report your earnings from playing poker online to the IRS on your taxes?

If so, is there a designated amount that doesn’t need to be reported - and everything above that does?

If it matters by state - I am curious about California.

Also, the way the monies are received from the poker site are via check.

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Marty Smith asked:


Chris Ferguson proved it. You can start an online poker bankroll from ZERO dollars. The fact that a pro went through the whole process not once, but twice building an account surplus of $10,000 shows that with due diligence and dedication to the task, anyone can do it.

Anyone with a little self control that is. In online poker, that attribute is far more rare than you might think. Some conservative estimates indicate that more than 75% of online poker players lose money. With the outrageous growth of poker and hold’em in this millennium, there is certainly no shortage of valuable information for anyone who wants to learn how to play the game.

So many players though end up playing above their skill level and even worse, above their bankroll that inevitably, these are the players that end up in that 75% cluster of money losing fish. Yes you are essentially a fish by playing above your bankroll. Chris Ferguson didn’t build his bankroll with magnificent bluffing, power all-in betting, and underground intimidation tactics. Are you kidding me? Have you ever played in the $1 sit and go tournaments? Strategies like that will send you to head first into a brick wall repeatedly in frustration.

Ferguson merely used fundamental poker skills to win as much as he could, but more importantly executed exceptional bankroll management with a strict set of rules that determined which games and game conditions he could participate in.

Bankroll management is then, utterly important to your success online, and now there are software choices to help you keep track of that very aspect of your game. Personal Poker Pal is the latest in this market that with a variety of graphs, reports, and analysis tools can help keep your game moving up and build your bankroll the very best way – using other people’s money.

What a poker bankroll calculator can do for you is keep your skill set evenly matched with your bankroll. As your knowledge and understanding of the game improves, so then are you rewarded in your bankroll. It’s simple math really. If you jump too far up, you are penalized (eventually) for playing above your head and you take a hit.

It is impossible to be consistently successful in the modern game without a detailed analysis of performance, highlighting the reasons for success or failure either in particular hands or over a session, with the aim of improving future results. If you can operate a simple program like Quicken, then you should have no trouble with Personal Poker Pal.

You manage money everywhere else in your life don’t you? Unless you are just out having fun and you really don’t care about how much you spend on entertaining yourself playing online poker, then you need to start managing your poker bankroll, just like the pros.



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Pd Laughlin asked:


You can win many rounds of poker if you simply observe other players and their body language. You must carefully observe each move to determine if the player is a professional or a novice.

A poker fish is usually a beginner who is highly enthusiastic and will bet even with average cards. You will find the poker fish at the lower limit poker games though they may occasionally play at the higher limit tables.

You can win several games if poker fish are present at your table.

You may lose a few games, but on an average the more you sit at a table, the more you will win against them. Once you recognize a poker fish at your table, you can develop a proper strategy and beat them hollow. You can beat the fish by calculating the pot odds for your hand. They are playing based on pure luck while you can maximize your chances by using proper probability and your “player reading” skills.

You must compute the number of undealt cards and your chance of getting such cards. In case there are a good number of cards, you must call a bet; else, you must leave the game. If you are playing online poker, you can beat the poker calling machines by using a pot odds calculator. The poker calling machines always have an edge over the player and the purpose of your poker strategy must be to minimize this edge as much as possible.

You must learn how to adapt your game at various stages of the game as several players get a straight or a flush. If the bet is reasonable with a reasonable jackpot and you have a good hand, you must call the bet. In case you are last to play on the table and have a weak hand, it is better to leave the game than risk losing whatever you may have won.

Your opponents may have a good hand and will try to draw you in to betting at the river. They may try to check you and call your bet, so play as per the strength of your cards. You can also check on the river if you wager and your opponents have missed a draw. You may not bet in case you are the first player. So, play intelligently and call the bluff of your competitors.

In case you play last, you may wager on the flop. This way if the opponent checks you, you can convince him you have a bad draw. You can then raise him on the river and earn some amount of money. Another tactic to earn a good sum of money is to make a small bet when you have a good hand and your competitors have poor cards. This convinces them to raise their bets and you win a good amount at their cost.

When playing online poker you must learn to recognize a fake hand and withdraw from the game when the poker-calling machine has a stronger hand. It is very important to have proper money management and control over your bankroll to avoid bankruptcy, when playing poker. Most importantly, learn to recognize the types of players at your table. Novices will play without thinking unlike aggressive players who try to scare you off the table. For other players money is no criteria and they play the maximum bets even with average hands.

Therefore, when playing offline poker learn to recognize the poker fish, as his presence gives you a good advantage and a better chance of winning. When playing online poker join the online casino so that you get free money to play more poker.

You must play confidently if you have a good hand and bet assertively, taking more risk. If you observe these simple rules, you can easily beat the poker fish or the poker-calling machine in online poker.



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