Poker Way

The title pretty much says it all: this is a very classic mistake many new and experienced poker players still make and this article will discuss why players are attracted to stay in a hand even when they know they are losing as well as how you can control your plays and avoid this from happening.

From years of observation and hours of research, the best explanation for why some poker players choose to stay in hand, and bet more money, even when they know they will lose is because of a psychological effect called “The Dollar Auction Effect”. After betting a substantial amount of money, folding would be even harder to do. Our brain will normally tell us to press forward and see the round through just for the sake of seeing the opponents’ hands; of course, hoping to still be able to win the pot is also a big reason.

Now that we know the reason, we can easily work out a solution. The first and probably the most important thing to do if you want to avoid making unnecessary bets when you know you are losing is by having proper bankroll management and poker strategy in general. Instead of betting an extra $20, it would be wiser to simply fold and admit defeat; you may not realize this, but you are actually saving $20 for better sessions when you can win. Next, make sure you learn how to evaluate the situation thoroughly and improve your tell-reading skills to see through bluffs.

Poker, just like other forms of gambling, involves putting your money on the line; you can win a lot of money in return, but there are still risks involved. What you need is proper risk management. This way, you can minimize unwanted risks and stay profitable at all times. Most avid poker players use advanced calculations when it comes to risk management. In this part, we are going to take a look at simpler ways to manage risks while playing poker.

Instead of using advanced calculations, you can simply set predetermined limits and used it across the session. Never set the limit more than 5% of your total poker bankroll in order to survive several rounds of losing; there will be times when you can recover these losses, and the fact that you lose limited amount of money makes it easy for you to stay objective and calculate your plays accordingly.

You can then be flexible as the situation changes. If you are holding a Flush draw after the turn and one of your opponents raised the bet substantially, you can easily compare the amount of bet you need to make and the total amount of pot money at stake. Since Flush draw has around 20% chances of being hit on the river and the bet is only around a quarter the size of pot at stake, simply decide if you are ready to bear the risk and act accordingly. Don’t worry about right or wrong decision; you will always have another chance to score winnings.