Poker, in most peoples mind is gambling and not a game of skill. Conversely, there is always an element of luck involved that can consist of getting very good hands dealt or having your hand catching up when it’s far behind your opponents. However, poker specifically Texas Hold em is a skill and math based game. There is a reason why you will consistently see the same group of people doing very well at tournaments, online, and at cash games. This is because they understand the math involved, how to decipher betting patterns, calculating odds, playing position, reading opponents, and controlling a table. Personally, I have never considered myself nor claim to be an expert or a “professional” player. I have had the privilege of watching several close friends and people I have met along the way develop into professional players and make a very substantial amount of money. Conversely, I have also met and watched some individuals consistently lose and continue to do so today. With online poker being banned in the U.S. on April 15, 2011 several individuals began taking the commute to Canada and spending several months out of the U.S. to have the ability to play online. Personally, I know several individuals in which two have earned over 8 figures in their lifetime and the vast majority of the others making well into the 6 figure range constantly every year. 

Having an understanding of the game or even mastering it will not make you a good player. Having control over yourself and managing your time and investments properly will. One of the biggest mistakes players will make is “jumping stakes” and not have proper time and investment management (bank roll management). If you are a casual player and like to play for sport and just enjoy the game then common sense is the main factor…don’t risk what you can’t afford to lose. As a professional player or having poker to be your entire source of income is completely different. Jumping stakes is when a player will move from their normal stakes (lets say $2/$5) to $5/$10 or $10/$20 (small blind/big blind). This will cause them to risk more money with a chance of losing a larger amount. This seems like an attractive idea to some because of the risk/reward benefit, but can devastate a players bankroll. Bankroll management is a simple concept if you have a bankroll of $10,000 that you use to invest into your sessions. You obviously do not want to lose your entire bankroll and keeping track of your winning/losing ratio, average amount won per winning sessions, average amount loss per session, amount of time, stakes played, and of course how much do you need to pay bills and live the lifestyle you want to live. Playing at a consistent stake where you can achieve “your monthly nut” is a crucial part of using poker as a main source of income. Someone who is capable of this will understanding when they should leave and call it a day or if they should stick around and invest more time into a table. Understanding your statistics will allow you to have a structured plan of how many sessions, amount of time you should play, and how you will achieve your goals. 

Unfortunately, there is always a chance that you have a constant flow of losing sessions which can drastically impact or completely wipe out your bankroll. This can and has happened to some of the best players in the world which is why there is a always an element of “luck” or “gambling” involved. Personally, I do not play any other games offered at a casino and do not believe in sports betting or any other form of gambling.