JV'S POKER ROOM

BY: John Vorhaus

Even if you're very new to poker, you've probably already discovered that the game is like an onion: Peel back the layers and what do you get? More layers! In other words, when it comes to poker, the learning never ends. That's why it's so useful to leaf again through a book like Greg Dinkin and Jeffrey Gitomer's, The Poker MBA, and see what other seeds of wisdom we can glean...

Creating new relationships and staying current with the old ones will allow you to increase your knowledge base, your customer base, and your profit base. Do you have a poker buddy? Do you have someone you can talk to about the game? Discuss certain plays and certain situations? Argue strategy and tactics? If you don't have such a person in your life, go get one now. In poker terms, merely being able to verbalize what you know, or think you know, is a powerfully potent way to learn. And your poker buddy need not be any kind of expert in the game, just someone like you... a seeker after knowledge and in quest of superior play.

Be very selective in the investments that you make, and the ones you select, play aggressively. We talked about this last time, but it bears repeating (and repeating and repeating): For sure-fire success in poker, you must be selective and aggressive. Selective... only put money in the pot when you have the best of it. Aggressive... when you do have the best of it, don't be afraid to bet big. If you do just this one thing right - play poker selectively aggressively - you can be a winner for life at the game. Powerful thought, no?

Your ability to perceive the other person, either from his actions or words, is a key to understanding how he will act. The fatal flaw of pre-judging others will block your ability to perceive them as they are. Poker players talk a great deal about tells, the subconscious acts or actions which can reveal to you another player's intent. Tells do you no good, of course, if you're not aware of them or paying attention to them. This, sadly, is the case for many players. They're so busy transmitting information (talking, acting, carrying on) that they have no capacity to receive information. When you're playing poker, be still and tranquil. Watch and listen carefully. Pay attention to your own tells, sure - don't give anything away - but pay more attention to the other players. Most of them will give you all the information you need to defeat them if you just give them the chance.

Good decision-making doesn't always manifest itself in the short run. Have you ever folded small suited connectors in hold'em, only to see a straight or a flush, or even a straight flush, come out on the flop? Wow, you think, I could have had a winning hand! Yes, you could... but that doesn't mean you'd have been right to try. If the odds are against you, it doesn't matter how lucky you get this time. In the long run a bad bet is a bad bet is a bad bet. The trouble is, patience itself is not always rewarded the way we would like it to be. There's no immediate gratification in folding bad hands. In this case, you have to take the long view. Folding bad hands - making correct decisions over and over and over again - will make you a winner in the long run. That should be gratification enough.

Good decision making comes from your ability to process dozens of variables and determine the importance of each. In simple terms: Consider everything before arriving at a decision. And let's take that a step further: Be prepared to change your decision as the facts and circumstances change. Suppose you start with a pair of kings in hold'em. You decide to raise, and that's the right decision to make. But when an ace comes on the flop and three or four players make three or four bets before it gets to you, you can be certain that one or more of them has a pair of aces, and now the correct decision is to fold. It hurts to fold. You feel life is unfair. But if you continue to play, you'll be making a wrong decision, and wrong decisions stand between you and the profit you deserve. To put it simply, make the latest possible decision based on the best available information, and never let wishful thinking get in the way.

Find out your weaknesses by asking those you trust. Then, commit yourself to setting aside time every day for self-improvement. For most poker players, seeking a critical examination of their game is not just hard, it's impossible. Their egos simply won't let them believe that they might be less than perfect in their play. Don't fall into that trap. Have a friend watch you play for an hour or two and then report back on the holes in your play. Plugging those holes - holes you yourself may not even be able to see - will put more money in your pocket, and that's the kind of boost any ego can love.

Gamblers go broke. Calculating risk-takers get rich. Of course if you're a recreational gambler, betting within your means, you're not likely to go broke with your hobby. Even so, if you can find a way to combine gambling with calculated risk-taking, you can have the best of both worlds: The fun of gambling in an arena where your decisions really matter. That's why thoughtful gamblers are attracted to poker: They know that in poker their choices affect their outcomes.

You're a thoughtful gambler, aren't you? So what are you waiting for... go play poker!