Saturday, August 16, 2008

Profiting from mistakes in poker.

I'm sure you've heard that "poker is a game that takes minutes to learn but a lifetime to master." The rules are relatively simple and easily explained and most people become proficient at the basics fairly quickly. With basic strategy almost anyone can become a break even player fairly quickly.

Understanding the nuances of the game and being able to recognize opportunities to exploit your opponents weaknesses takes experience. Ten thousand hands would be a good start. It is this experience that gives you a the sense that your opponent will lay down a winning hand if you come over the top with a big reraise or tells you that your pocket aces just aren't good enough and to fold. The problem is that if you aren't careful experience can fool you.

Because there is an element of chance in all forms of poker much of the outcome of a decision is out of your hands. Some percentage of the time you will make the right decision and lose the hand. Suffer a bad beat in other words. Bad beats aren't necessarily a bad thing, because if you can keep from going on tilt, it means your opponent was putting his money in when he was an underdog. If your opponent do this consistently then over time they will make you very rich!

Sometimes you make a bad decision and benefit from it. In other words you make a play that over time is statistically a loser but win the hand anyway. Mistakes are part of being human and will happen no matter how good you become. Occasionally you will get lucky and not pay for your mistakes. The problem is when you either don't recognize the error or chose the believe that it was your superior skill instead of dumb luck that allowed you to win the hand. If you make a routine of this type of hubris you will develop habits and leaks in your game that will cause you to go broke no matter how developed your other skills are.

Remember to evaluate your decisions independent of the outcome. Going when your pocket aces trip up on the flop is rarely a bad decision. Calling an all in bet from a strong player with your middle pair is almost always a bad idea even if you catch a runner, runner straight and win the hand.

Getting lucky from time time is one of the greatest pleasures in poker, just don't make getting luck a key part of your strategy.

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