Finance lessons from poker players

Poker is not so much a game of chance as it is a game of skill. If you are under the assumption that winning time and time again at poker is nothing but luck, then you need to stop that line of thinking right now. You know what they say when you assume things?

Just The Facts Please

Assuming anything will never get you anywhere. You should only ever deal with the facts. Poker is a game of skill that is a simple fact. Why do you think the same people always win. They know how to play the game, but there is something else going on with winning poker players as well. The best poker players know how to manage their money, and they know how to do it very well. They never let the stress or pressure of being so close to winning bother them. They are clam, cool and collected at all times.

Dealing With the Stress of Winning

Stress and winning? Really? This is what a lot of people think. They instantly assume that winning is easy. They assume that there is not stress involved in winning, but this is completely wrong. Did you notice that this line of thinking comes from assumptions again? This is one lesson that we can all learn from.

The more you win, the more stress there is. These two things go hand in hand, no pun intended. How stressful do you think things will be if you are playing for a $25000 purse? That is a lot of money. Stress causes mistakes and this is one place that you don't want to be making any mistakes. Stress can actually be beneficial when you are playing poker. You just need to learn how to control stress and use it to your advantage. Once you learn to control stress, you will be able to keep it at a beneficial level that can help you win more often at poker.

Managing Your Winnings

Part of the fun that comes with playing poker is the adrenaline rush that you get from winning. This rush of adrenaline can very easily become addictive. When this happens, you can become a fool with your money and we all know that a fool and his money are soon parted.

Even though the game of poker is based on skill, there are still odds to deal with. The odds in popular  card games like Texas holdem dictate the simple fact that you will lose from time to time. If you place all of your money on the table during a losing streak, then you will never have enough money to continue playing. You have to know when enough is enough.

Start on some of the lower priced tables. These are the perfect way to start building your bankroll. Once you have a good bankroll, then you can move on to some of the higher winning tables. As you can see, it is all about control.

Once you learn how to control your stress and control your money, you will be able to take away much more than winnings from the table. These basic concepts can make your life a lot easier.

Jim Dalton has been playing poker for years as a means of recreational fun with his friends. He has had his fair share of winning and losing. He knows from personal experience just how fun winning can be.