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In terms of training videos, it really is a different kind of business as distribution is entirely online, while the publishing business is both online and retail.
MH: I think it will take at least a couple of years before we see an actual legal site in the US. There are just too many steps. First, another bill has to pass committee.
Then the house needs to vote on the two bills. Then the Senate. Then the President needs to sign it. Then the online sites will need to apply for a license. Once a license is approved, I would suspect there would then need to be time for the online site to execute their business plan and get operations setup.
This was my first project publishing another author. About the Author: For twenty-five years, Joe Navarro was an FBI counterintelligence special agent and supervisor specializing in nonverbal communications. Using an original concept called "Total Odds," the book presents a complete odds work-up for both Texas Hold'Em and the high and low hands of Omaha.
These principles are accessible to any poker player at any skill level, and the calculations are color-coded, making them easy to follow. Serving as a convenient primer for the beginner and a reference text for more experienced players, this guide is a safe bet for anyone looking to win. His book is for the thinking player who wants to incorporate some mathematics and an understanding of odds into his or her mode of play.
Other chapters discuss the value of bluffing, value-betting, bet-folding, and most important of all, how to analyze PLO hands to improve your thought processes and decision making. Many poker professionals consider this book is the Bible of PLO books.
Those who study this book will likely have edges over their opponents. Remember that the goal in poker is to make the correct decision at the table, the one that will win you the most money on average. You introduce a new goal when you bring your ego to the table. You now want to make the most money you can while keeping your ego intact. This new goal might result in you making a different decision than you would have made otherwise, nearly always a worse one.
In effect, your ego is eating into or possibly even negating your winnings. Your ego may lead you into several traps at the table, the following eight being the most common: 1.
You might call bets that you shouldn't. Psychologically, folding is like surrendering, which is equated with defeat. In an ego-fueled game, folding can seem extremely unattractive, especially if the pot is big and especially if you think there is a chance you have the best hand. When contemplating calling a bet, the questions going through your mind should be things like: What is the probability I am ahead?
If I am behind, what are the chances of drawing out? Am I getting the correct pot odds to make the call? What is the likelihood that my opponent is bluffing? Undue influence from your ego may lead you to consider irrelevant factors and think irrelevant thoughts such as: Will I look like a coward if I fold?
Will I look stupid if I fold and he shows a bluff? I don't want to let him get one up on me! The result is that you will often call when analysis and probabilities dictate you should fold.
Chapter 2 - The Poker Mindset 33 2. You might allow a personal feud to cloud or override your judgment. Poker is by nature a confrontational game. Every dollar you win comes out of the pocket of one of your opponents and vice-versa. It is only natural that conflicts arise and players start to hold a grudge ugainst one or more of their opponents.
This usually occurs when one player has lost a large sum of money to another player, especially if some or all of that was due to bad beats. The losing player wants to get the winner back, show him who's boss, or make him look bad. The unfortunate result is that you might let a grudge lead you into bad decisions. You may also be paying so much attention to one opponent that you are giving insufficient attention to the other players at the table.
You are likely to try too hard to get even. One of the reasons you might try to do this is because of ego. Nothing hurts a player's ego like leaving a game with less money than he sat down with.
It can seem like an admission that the game has beaten him, and that he would have been better off not playing. In a live game especially, it can be a bad feeling to have to stand up in front of the other eight or nine players, shove what remains of your stack into a rack, and leave — an admission of defeat of sorts.
So some players don't. They will stubbornly keep playing in the hope that they can at least get back to even and salvage some pride. Unfortunately, their play may deteriorate as they try to make more and more speculative plays in order to get their money back, and their concentration falls as they get tired or bored.
The more they lose, the more they will want to try to win at least some of their money back. It is a vicious circle that could have been 32 The Poker Mindset: Essential Attitudes for Poker Success avoided if their ego had allowed them to walk away after losing a comparatively small amount.
Action Point: Set a fixed amount that would represent a moderate loss in the game you play. This might be 25 big bets for a limit player or two buy-ins for a no-limit player. The next few times you lose that amount at the table, stop playing. This achieves little from a poker perspective but will get you Chapter 2 - The Poker Mindset 33 The reverse is also true. Sometimes players will be embarrassed when they misplay a hand or try something that doesn't work.
To try to minimize their embarrassment, they will do everything not to have to show down their hand. This may include folding to bets they should call or even folding to no bet on the end. Some players go even further and are reluctant to bluff in the first place because they are afraid that it might look like a stupid play if they're caught.
Embarrassment is the flip side of ego, and it also needs to be eliminated from your game. Hesides, your bonehead play might have great advertising value!
You might play in games you can't beat. Poker is only profitable in the long term when you play against players who are worse than you. As the popular poker saying goes, even the 10 th best player in the world will lose money in the long term if he insists on playing with the nine who are better.
Players with big egos do not like admitting that they are outclassed, even to themselves. As a result, they may play in games that they simply can't beat. In the same way, if a game they are playing in suddenly gets bad due to the weak players leaving, for example , they will stick around convinced that they can still beat the game, even if a better game is available elsewhere.
You might make plays to impress your opponents. Sometimes you will be tempted to make plays that look good even if they have little chance of working. For example, you might try a raise on the river as a bluff or a check-raise on the flop with a weak hand. That is not to say that these plays don't have their place, but you should only make them for the right reasons.
You might not drop down a limit when you should. One of the most humbling things a poker player will have to do is to drop down limits. It is something nearly all players hate to do because it is an indication of failure to beat the level you are at, at least in the short term.
Nobody likes to play in a game that they consider beneath them, especially in a live casino where their peers may see them at that game and realize they are running bad. The fact is that you must drop down limits when you are no longer bankrolled to play at higher limits.
Otherwise, you might be risking your entire bankroll to pander to your ego. There should be no shame in making a move that will protect your bankroll and ensure your long-term profitability.
You could inadvertently give away Information to your opponents. You will repeatedly see players demonstrating their knowledge of the game at the poker table. If your opponents are weak, then it doesn't pay to advertise yourself as the table predator. On the other hand, if your opponents are strong players, you would like them to view you as a weak player in the hope they play incorrectly against you as a result.
So why do players feel the need to demonstrate their knowledge? Part of it might be to fill the silence between hands and to be social, but a large proportion of it is ego. Subconsciously or otherwise, poker players want their fellow players to look up to them as a good player. Most think they are good players, and they want everyone else to think so, too, even if it affects their win rate in the long term.
If you give away information about how you play particular hands, then that is even worse!
Do you want to broadcast to the better players at the table that you will lay down top pair to a raise on the turn, or that you will raise a flush draw on the flop? Unknown to them, players who bring their ego to the table may be giving their opponents the tools to beat them. You might scare away players who you would rather stay.
Of course, the nasty end of this verbal posturing is when decent but egotistical players berate and belittle other players for what they perceive as bad play. This is not only unpleasant, but is also completely asinine from a poker point of view. Poor players should be nurtured and cherished. Poor players make poker profitable for winning players and less costly for average players. When players are chastised, it is quite common to see them simply leave the game.
Weak players generally play the game for fun, and it is no longer fun when they are being publicly embarrassed and ridiculed. Obviously, it is a bad situation when a poor player leaves the table, because the average strength of your opponents increases, especially at the higher limits where weak players are harder to come by. However, this is the risk that some people take just to satisfy their ego.
Chapter 2 - The Poker Mindset 33 I.
Possessing and even flaunting your ego will not preclude you from being a winning player, provided you don't let it influence your decisions. In fact, some quite well-known players arc renowned for the size of their egos. However, for the cash game player especially, your ego may be eating into your win rate. You have probably not heard of many of the very best cash game players.
They play in high-limit games in casinos and on the Internet, quietly winning huge amounts of money. If you spoke to one of these players, he would probably be very modest about his success and might even deny he wins at all.
These players understand that their win rate is far more important than their ego. Forget about what other players think of you, because it simply isn't important. Online players especially can be fairly secure in the knowledge that they will never meet their opponents except at the table. Use the effort you would put into bolstering your ego in more productive ventures. Focus on your own game and on making the best decisions rather than worrying about what your opponents think of you.
If an opponent puts a bad beat on you, instead of trying to get even, make a note of how he played the hand and use that knowledge to your advantage later. If you are stuck for the session and are getting tired, leave and come back tomorrow. After all, does it really matter when you get even, provided you are a winner in the long run?
Rather than discussing poker strategy at the table, listen to what other players have to say and learn how they think.