Tuesday, June 10, 2014

Review of probability poker hands::Description of Standard Deck of 52 Cards - Norton Safe Search







Review of probability poker hands::Description of Standard Deck of 52 Cards - Norton Safe Search








Poker,               especially               big               bet               games               like               no-limit               Texas               hold'em               and               pot-limit               Omaha               hold'em,               have               a               very               large               element               of               chance               in               the               short               run.

Over               time,               skill               will               obviously               win               out,               but               while               you're               waiting               on               "the               long               run",               you               need               to               take               measures               to               protect               yourself               from               the               inevitable               swings               that               come               along               with               playing               a               lot               of               poker.

Here               we're               going               to               break               down               a               three-pronged               approach               to               managing               your               poker               bankroll               which               is               based               on               giving               you               the               protection               you               need               from               the               chance               element               of               the               game.

First               you               need               to               realize               a               truth               about               the               game               that               is               not               what               most               people               want               to               hear:               your               edge               per               hour               is               relatively               small               compared               to               what               your               poker               bankroll               should               be.

If               you're               playing               $1/2               no-limit               Texas               hold'em               in               a               casino               setting               playing               10-hour               sessions,               then               you               may               only               see               400-500               hands               in               a               session.

Even               if               you're               winning               eight               big               blinds               per               hundred               hands,               that's               only               an               average               of               winning               $64-80               per               session.

Meanwhile,               your               bankroll               should               be               well               over               $4000               to               even               sit               in               the               game               to               begin               with,               and               even               more               than               that               if               you're               relying               on               poker               as               your               main               income.
               After               you're               comfortable               with               the               idea               of               having               a               lot               of               money               backing               your               play,               you               need               to               realize               that               you're               going               to               need               even               more               money               behind               if               you               are               playing               in               a               game               that's               high-variance.

The               wilder               the               players,               the               more               streets               of               betting,               and               the               higher               the               cap               on               the               betting               per               street,               the               larger               the               bankroll               you               absolutely               must               have.

All               three               of               these               factors               create               more               of               a               statistical               term               called               variance.

An               increase               in               variance               means               a               direct               increase               in               your               chance               of               going               broke               in               a               given               game               with               a               given               bankroll.
               Finally               after               you               understand               how               deep               a               bankroll               needs               to               be               and               after               you               understand               the               role               of               variance,               you               need               to               realize               that               there               is               a               major               psychological               component               to               the               size               of               your               bankroll.

When               you're               on               a               really               bad               streak               of               cards               (which               will               happen               from               time               to               time),               you               will               have               a               much               harder               time               recovering               and               playing               your               best               if               the               swing               takes               out               20%               of               your               bankroll               than               if               it               takes               out               only               5%               of               your               bankroll.

The               comfort               of               having               a               large               number               of               bets               (or               buy-ins               if               you're               playing               no-limit/pot-limit               games)               left               before               you               have               to               move               down               or               go               broke               cannot               be               overemphasized.
               The               intelligent               gambler               does               not               only               find               a               game               that               he               has               an               edge               in.

He               (or               she)               also               evaluates               the               role               of               luck               in               the               game               and               the               probability               that               they               will               go               broke               based               on               the               chance               aspect               of               the               game.

This               management               of               your               gambling               bankroll               is               crucial               to               longevity               in               the               game.






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