Last time we explored the idea of Pot Odds, by drawing parallels to a “risk/reward” approach. Let’s Shoot some Hoops! Here is a quick review: For the basketball fans out there, think of Stephen Curry, arguably one of the best 3-point shooters in the history of the game. Even for a player like that, a […]

Ever heard of the phrase “risk/reward”? Well, a 5 year old probably hasn’t, so it is only fair for me to elaborate. Basically, as the two words suggest, a risk/reward situation is an occasion where a person is willing to risk something in the hopes of getting a nice reward in the end. Risk/reward scenario: […]

Let’s say it gets folded around to you on the button. The big blind and small blind both have 35 big blinds. They are competent players, if not exactly exciting. You have Q-8d. There is an ante in play. What do you do? Now, let’s say this is the beginning of the tournament. You have […]

Since we now know what the words “Out” and “Equity” mean, let’s explore a very simple example that uses these concepts as well as some elementary school math (our favorite kind!) to quickly and accurately estimate a player’s chance to win the hand! Clearly, the more Outs the better, since the more ways one has […]

Most finance textbooks define Equity as the difference between the value of an ‘asset’, minus the value of all ‘liabilities’.

In every day English, the word “out” is used to describe a way from escaping a problem or dilemma.

Nasdaq defines financial options as "… contracts through which a seller gives a buyer the right, but not the obligation, to buy or sell a specified number of shares at a predetermined price within a set time period. Options are derivatives, which means their value is derived from the value of an underlying investment." That’s […]

Have you ever raised a top pair for value on the flop? Without going all-in? If you just answered, "no," then you have a big problem. It’s unlikely you raise on flops as a bluff enough because, well, almost no one does. That means almost any thinking opponent will be able to understand that when […]

What are your greatest enemies in poker? Go ahead. Try to think of them. Okay, you got yours? Here are mine. One, your greatest enemy is yourself. It’s you who can behave like a damn child who doesn’t know they’re playing a game of chance. It’s on you to not fling your chips in without […]

On a recent podcast, we had a guy write in to us. He was making a decent wage from 100 NL. He was a profitable player and had the database to prove it. Still, he was working a job to get by. He wondered if he would ever make it, and if he should take […]

I cannot remember a single person in my high school asking me where I wanted to go to college. Everyone just assumed I wasn’t going. In high school, I wore the same bummy oversized Adidas sweatshirt every day with holes in the sleeves. I was constantly zoning on one amphetamine or another. Given the medication […]

"Why do you even play this game?" Every time I play poker I want to ask this question to half a dozen people. You know the type. Huffing and puffing. Complaining. Shaking their head every time they lose the pot. Even more insufferable are the serious poker players. Every time I hear a bad beat […]

Whenever a trader on Wall Street loses all his money, one of the most common criticisms you’ll hear from an experienced trader is that the gentleman spent all his time with other traders. You can always spot people within a bubble. Many poker players have severely dated strategies because they spend all their time with […]

“Sleep is for broke people,” I said disdainfully, after my girlfriend gave me a hard time for sleeping three hours the night before.

When you see someone tilting, are you really watching an insecure child? I have wrestled with this question for years. I cannot tell you the exact answer. However, I can tell you that seeing tilt as insecurity is a profitable filter to fix upon one’s view of life. I have a storied history with tilt, […]