Tuesday, March 3, 2009

Poker Strategy: Understanding Risk and Reward

Pot odds and demanding an advantage fall into this category when playing poker. Poker players are willing to take a long-shot risk if the reward is high enough, but only if the expected return is higher than the risk.

More importantly, they understand the risk-vs.-reward nature of the game outside of the actual poker room. They know how much bank they need to play, and how much money they need in reserve to cover other expenses in life.
Good poker players understand they need to be more risk-averse with their overall bankroll than their stack at the poker table.
When you play in an individual game, you must value every poker chip equally at the table. You should only care about making correct plays. If you buy in for $10, you should be okay with taking a 52% chance of doubling up to $20 if it means a 48% chance of losing your $10.
However, you should be risk-averse with your overall bankroll. You need to have enough money so that any day at the tables will not affect your bankroll too much. If you worry too much about losing, then you will make mistakes at the poker table. You need to leave yourself with the chance to fight another day.

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1 comment:

Lucilla said...

When playing poker, we should keep our minds clear and eyes sharp. We should also pay close attention to our pockets.