Safeguards to Take While Playing Online Poker During Coronavirus Crisis
A good many of you are in quarantine due to the coronavirus. Some are choosing to quarantine yourselves while others are being forced to do so by your state or national governments.
During this time, you may turn to online poker to pass the time or even to make some extra money. However, there are some safeguards you should take while playing online poker during this time.
Don’t Move Up in Stakes
Some of you may have lost jobs or are temporarily off from work due to the coronavirus. As such, you may think that this is a good time to move up in stakes to try and supplement your income. I urge you to reconsider.
First, the games will be tougher and the strain on your bankroll will be greater. This is a time where you want to try and lock in profits rather than take unnecessary risks. There is a time and place to move up in stakes, but at this time the risk is not worth the reward.
Online poker has never been busier with many live poker rooms shutting down in the United States due to the outbreak of the #coronavirus. PokerNews is keeping an eye on all the big US-based events.https://t.co/t5jKJyH6Xq pic.twitter.com/sWPQVoGyRJ
— Chad Holloway (@ChadAHolloway) March 19, 2020
Consider Moving Down in Stakes
You may want to consider moving down in stakes during this time. There are multiple reasons for this. First, the impact on your bankroll may be less at lower stakes. If you normally buy-in for $50 a game and can move down to games allowing a $25 buy-in, this could help you better manage your bankroll during this crisis.
Next, if you are a winning player at your current stakes, it is logical you will be a winner at lower stakes. If anything, you may end up turning a bigger profit at lower stakes, especially since there are more players online at this time than before the crisis hit.
Adhere to Stop Losses
Some of you may not be playing with a stop loss. If you aren’t, it is time to start. You don’t want to risk playing too long and negatively impacting your bankroll. A good stop loss is 30 big bets for limit poker and 3 to 5 buy-ins for NL Hold’em.
PokerStars PA’s cash game traffic has nearly tripled in just less than a month.
PokerStars Pennsylvania is enjoying an incredible growth in its cash game traffic as a result of the outbreak of coronavirus that forced many to self-isolate at home.https://t.co/22ijQadSAM
— pokerfuse (@pokerfuse) March 25, 2020
Again, we are looking to preserve your bankroll and give you a chance to stay in the game. The games will be there tomorrow and possibly with more players than today. Make sure you can stay in the game by adhering to a stop loss.
Stay Away From Casino Games
Another way to help preserve your bankroll is by avoiding casino games. While there are going to be games that seem enticing, remember that the house always wins. Poker gives you the best chance of winning over the long-term.
For casino games, most players end up a loser. This is a significant leak for a poker player and something you want to avoid at this time.
Don’t Play if You Need Money to Survive
Our last tip is probably the hardest pill to swallow. For some of you, the money you are using to play online poker can be better spent taking care of your daily necessities. If you are out of work and not drawing an income, consider taking the money you’re using for online poker and using it for living expenses.
For many of us, online poker is a recreational activity. We play with “extra money” that we set aside for poker. For some of you, that extra money may be what you need to pay the light bill or even put food on the table. As such, consider cashing out your balance and putting the money to good use around the house.
After all, you can always play free money poker. While we know it is not the same, there are things right now that are more important than real money online poker. Keep your priorities in order and come back to poker after the crisis is over.