Why Professional Poker Players Are Successful
They Study Many people watch professional players on television and
believe that they are just naturally talented, and that a long time
ago they became good at the game, and that's why they're still good
today. The truth is, most professional players study the game
religiously behind closed doors. They study computer programs,
evaluate hand histories, and reach out to other players that are
better than themselves... yes, many of the professionals you see on
television know players that are clearly better than they are. By no
means are these players bad, in fact, they are probably amazing, but
once you get in deep with the poker community, you will find many
players better than yourself - professionals included. online poker
468x60 Don't think professionals watch training videos online? Think
again. Many of them have subscriptions to all the major training
sites, and do their best to keep up with the evolution of the game.
Every year the game evolves tremendously, and things that were viewed
as correct in previous years have become obsolete, today. They
Practice Bankroll Management The absolute best way to manage your
bankroll is actually very difficult to quantify, but the bottom line
is that most professional players have a plan as to how much money
they can risk on any given tournament or cash game. Cash games are
easier to figure out. Patrick Antonius once said in an interview that
he'd need at least 20 buy-ins to play in a specific cash game; while
many players believe you need at at least 40 buy-ins. Basically, the
reason why it is difficult to figure out the absolute correct formula,
is because the only way to figure out how many buy-ins you should have
for a particular game, is to calculate your ROI (Return on Investment)
in a given setting. For example, if you were going to play in a very
soft game, then you wouldn't need as many buy-ins behind you because
you are going to make more money, and lose less on average. Likewise,
if you are going to play in a tougher game where you only have a
slight edge over the field, then you may want to have more buy-ins in
your bankroll for that particular game. Though most people have their
own personal styles of managing their bankroll, the key factor is that
they manage it at all. Many amateur players have a hard time playing
within their means, and want to risk more than they should in a
particular game They Sell Equity If you follow social media,
especially in regard to outlets like twitter, you will notice a lot of
professionals selling equity. Or simply, they are selling shares of
themselves in a particular game. Most of the time you will see this
out in the open in regard to tournaments, but many of the
professionals you see on television playing nosebleed highstakes have
actually pieced themselves out to other people behind close doors. In
regard to tournaments, players may sell packages that consist of a
conglomerate of tournaments during something like the World Series of
Poker. Players reduce their variance by selling equity, and if they
are lucky enough to get someone to buy at a markup, they will be
gaining free equity in themselves. For example, most players tend to
sell at a markup of 1.1 - 1 or 1.4 -1. In other words, they are
charging anywhere from a 10% to 40% markup in themselves. Investors
will generally pay a higher markup for a better player, and a lower
markup for a worse player. So if a player is playing a $1000 No Limit
Hold'em event, and they are selling 10% of themselves, then an
investor would usually just pay $100. But if the player is charging a
markup of 1.2 or 20%, than the investor would have to pay $120 to
attain a 10% stake of the individual they are buying from. Almost
every professional tournament player you see playing super high buyin
tournaments have sold equity. So the next time you see a main event
winner win 9 Million dollars, think to yourself, "I wonder how much
equity they had pieced out." They Have The Right Friends The average
amateur poker player has no idea that many of these professionals have
gone through down spells in their lives. Mostly, this is because you
read about them in magazines or see them on television year after year
playing with staggering amounts of money. But, the reality is that
some of these players have backers or even have to take loans from
some of their friends. In the poker community, it is not unheard of
for a player to get a $100,000 loan from a friend. So sometimes when
one friend is doing well, they will help the other friend that isn't,
and down the road if that same friend is in a jam, the other friend
will help him out as well. Money is shuffled around constantly in
poker. Some of the professionals you see on television may be
technically broke while you are watching them play, but other people
in the poker community who are their close friends will always help
them out until they win another tournament, or get back on track in
cash games.