The Rules of Poker Apply to Life in General
Although it does fall under the gambling category, poker is much more than just a game of chance. In order to be good at it, one needs to be good with math, but also psychology. Sometimes, a player can bluff their way to taking the entire pot.
The best thing is that skills and techniques used by pro players can be implemented in other card games, as well as sports and business. In fact, some rules of poker can be applied to life in general.
So, which poker principles should you adhere to in order to make your life better? We’re now going to present you with five of those, starting with the most important rule of them all – keeping your mind in charge.
#1 Act on Reason
Back in the 70s, Johnny Moss was the biggest name in poker, having won the inaugural WSOP, as well as getting inducted into the Poker Hall of Fame. The Texas-born player was known for his methodical approach to the game, in which his decisions were based on reason rather than a hunch. This made him sort of unique in the poker universe, which at the time was played mostly by gamblers relying on luck.
In fact, one of the most famous poker techniques used by Johnny Moss was to completely switch off his emotions and let the mind be in charge. Praying, hoping really hard, or performing some superstitious rituals will not change your hand, nor will it affect your opponent’s hand. Poker reinforces this reality-based perspective by punishing those who act on emotions without the guidance of reason.
#2 Cash-In on Opponent’s Irrationality
In gambling, a rational person can gain an advantage over their rivals by letting them act on emotion rather than common sense. If you notice they’re making silly moves based on a hunch, it’s time to punish them by taking away their money.
In business, there really is no need to punish anyone. Instead, you just need to stay away from them. A rational businessperson needs to stay away from irrational ones as they can put their company in jeopardy. Sometimes, not doing business with someone can be more beneficial than making a seemingly lucrative deal.
#3 Savor the Right Decision
In his piece from 2012, Ari Armstrong wrote about being proud of the right decisions even if they didn’t prove profitable at the time. Making a fold when you got a weak hand won’t bring any money your way. Actually, it means losing the pot, but sometimes it’s the right thing to do – if it were otherwise, you’d be risking losing much, much more.
You can implement this rule to literally anything in life. Making a wise decision is something you should be proud of, even if it doesn’t bring you any immediate gains. However, such a decision is likely to pay off in the future. And even if it doesn’t pay off, it will still do its part by giving you “a sense of equanimity toward winning or losing.”
#4 Cost Doesn’t Mean Value
To explain this poker rule, it’s best if we used an example. Let’s say you start as the big blind and are dealt with a pair of aces – ace of spades and ace of hearts. Obviously, this is a fantastic hand that’s worth investing in.
Then, there’s another ace on the flop – an ace of diamonds – together with a king of diamonds and a queen of diamonds. With three aces, you’d think you’d be invincible, so you keep on betting. However, another diamond card is drawn on the river – jack of diamonds. In this case, your opponent(s) just needs to have another diamond card to get a flush (or even a royal flush).
Knowing that the chance is high that one of their two cards is a diamond, the logical decision would be to fold. However, you’ve wagered too much money already, which makes you feel you need to push it to the limit no matter what. Well, such decisions usually end up in a disaster.
The moral of the story is, that rather than focusing on how much you’ve invested previously, you need to think about the future.
#5 Don’t Go All-In All the Time
A great way to win the pot is to persuade your opponents that you’ve got a winning hand. The easiest method is to go all-in – your opponents will think you’re so confident because you got good cards.
Sometimes, this works; sometimes, it doesn’t. And when it doesn’t work, it means that it’s the end of your game. So, if you don’t want to lose all you got, don’t take unnecessary risks. Go big only when you’re certain you’re going to win.