Mike Sexton has compiled “nine little-known factors that could affect your bankroll” in an article published in NJ.com, and here are some of them. These factors come from smart poker personalities.
Relationships can turn out to be very expensive for poker players. Though essential, a poker player’s relationship with his or her special someone can deplete his/her bankroll in ways unimaginable.
Poker players also spend a lot of time travelling. This is something they cannot avoid as they have to take part in international poker tournaments, which are hosted in some of the most exciting countries in the world. Although travelling sounds exciting, it is very expensive. Sexton advises players to qualify for major live poker tournaments through online satellites. He admits that he loses a lot of money booking flights at the last minute and not making plans in advance.
Purchasing expensive things such as luxury cars can also eat into one’s bankroll. One need not always be in a relationship to lose money. Young and single players have been known to spend on anything that takes their fancy.
Poker is a merciless game, so players need to be in the proper frame of mind while playing the game, especially with the pros. Sexton explains: “When I haven’t been well, and I’ve played instead of seeking help, I’ve had trouble focusing and trouble caring. That’s a recipe for disaster. I’ve had my biggest downswings in concert with failed and failing relationships that sent me spiraling downward.”
Swapping pieces can work wonders on players’ bankrolls, but it can destroy bankrolls too. Swapping pieces is the act of exchanging percentages of each other’s profits in the same poker tournament, thus enabling players to win something even if they lose. Sexton warns players that they should be careful about who they make such deals with.
A player’s ego is his worst enemy. If players allow their egos to cloud their judgment and spend more than they ought to, they will find it very difficult to manage their bankrolls. While taking a risk is important in poker, behaving in a reckless manner is self-defeating.
As much as players argue that poker is a game of skill, it cannot be denied that luck plays an important role in helping players build their bankrolls. Acknowledging the importance of luck, poker pro Marvin Rettenmaier says, “I probably wouldn’t be where I am today if I didn’t get lucky at the beginning.”