In my previous post I told the story of the day I lost the most money at the poker tables and the lesson it taught me. Fortunately, not every life-lesson I’ve learned playing poker has come at such cost.
Can you guess, based solely on how they stack their chips, which of my sons plays looser and which tighter? 🙂
In this final post of this three-part series, I share the last three lessons a decade of poker has taught me, including the single biggest lesson I’ve learned. (more…)
You know those days that just seem to go from bad to worse? My worst day at the poker tables was just such a day.
Yeah, this is a roulette wheel, not a poker table. And that is precisely the problem….
In 88 games over nearly two years, I had been slowly adding to my winnings. But then came the 89th game…. (more…)
Ten years ago, I bought into a No-Limit Texas Hold’em poker game for $10. I won $72.50. Using those winnings, I bought into another such game, and so on. Ten years and nearly 200 games later, I’ve grown that initial $10 to $2,114. Here’s a chart showing my “bankroll” (money set aside exclusively to play poker) over time:
Not bad percentage-wise, but not a huge deal either. At least, not financially.
The bigger deal has been the life lessons I’ve learned or had reinforced along the way—lessons dealing with time, money, and what matters most.
In this three-part series, I’ll share 8 lessons a decade of No-Limit Texas Hold’em has taught me. If you like poker, I hope you enjoy. But whether you like poker or not, hopefully you’ll find these lessons applicable to your life as well: (more…)
Poker legend Doyle Brunson is rumored to have been asked whether he would take the following bet. A coin is flipped. If it comes up heads, Doyle loses his entire net worth. Tails, he wins 10 times his net worth. Doyle responded, “I’d have to take that bet.”
He’d “have to” take that bet because of a concept called expected value. Even if some of us wouldn’t take that particular bet, the concept of expected value can help us make better decisions in many areas of life, especially those involving time and money.
In this post, I’ll define expected value and show how you can use it to save time and money. (more…)