Poker Money Management Tips

Winning at Internet Poker For Dummies

As a poker player, you know that a poker game theoretically never ends. The tips in the following list are suggestions to keep in mind to manage your poker-playing funds:

Quitting after you've won a certain amount of money will neither stop your losses in the long run if you are a losing player nor protect your profits if you are a winner.
Poor players will lose their money no matter what they do. Good players establish an expected hourly win rate whether or not they quit after they've pocketed a certain amount of winnings.
Playing fewer hours by quitting when you're ahead isn't always the right strategy.
If you're playing in a good game, and you are playing your best, stay in the game unless you have other obligations.
If you're in a bad game, get out of it now — never mind if you're winning or not.
If you're emotionally upset, stressed out, fighting the flu, or otherwise not at your best, you're better off not playing since your maladies will ultimately take themselves out on your bankroll.

About This Article

About the book author:

Richard D. Harroch is an attorney with over 20 years of experience in representing start-up and emerging companies, entrepreneurs, and venture capitalists. He is listed in Who’s Who in American Law and is a corporate partner in a major law firm in San Francisco. He is a Phi Beta Kappa graduate of U.C. Berkeley and graduated from UCLA Law School, where he was managing editor of the Law Review. He has edited or co-authored a number of legal/business books, including Start-Up and Emerging Companies: Planning, Financing and Operating the Successful Business and Partnership and Joint Venture Agreements.
Richard was the chairman and co-founder of AllBusiness.com, one of the premier Web sites for small businesses. He was also the founder, CEO, and chairman of LawCommerce, Inc., an Internet company dedicated to providing products and sources to the legal profession.
He has lectured extensively before various legal and business organizations, including the American Electronics Association, the Venture Capital Institute, the California Continuing Education of the Bar, Law Journal Seminars-Press, the California State Bar Business Section, the Corporate Counsel Institute, the San Francisco Bar, and the Practicing Law Institute (PLI).
Richard has served as the chairman of the California State Bar Committee on Partnerships, the co-chairman of the Corporations Committee of the San Francisco Bar (Barristers), a member of the Executive Committee of the Business Law Section of the California State Bar, and co-chair of the Law Journal seminar in New York on “Joint Ventures and Strategic Alliances.”
Richard has experience in the following areas: start-up and emerging companies, corporate financings, joint ventures, strategic alliances, venture capital financings, employment agreements, IPOs, leases, loans, online and Internet matters, license agreements, partnerships, preferred stock, confidentiality agreements, stock options, sales contracts, securities laws, and mergers and acquisitions.