0johnmark0 wrote:
Is there any tips and tricks about playing or winning poker? I really want to learn how to play poker but it seems too complicated for me to understand.
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2006/12/07
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29893
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The Government of the Cayman Islands is engaged in a high stakes poker game over the Ritz stamp duty issue. What is at stake, or the “pot”, is the reputation of the Islands as a good and reliable place to do business.
In order to understand why, some background is necessary.
Background – Think of the Ritz property (144.9 Acres), stretching from the Caribbean Sea to the North Sound, as a rectangular piece of bread with a large raisin and several large black olives in it. Looking at the piece of bread, the Caribbean is on the left (west) and the North Sound (east) is on the right. The piece of bread has two grooves in it, running North and South. The groove closest to the Caribbean is West Bay Road and the other groove is the by-pass road. The large raisin has West Bay Road running through it; this is the hotel parcel (8.9 acres) on which sits the Ritz Hotel. The rest of the piece of bread is the resort parcel (136 Acres) and contains large black olives of varying sizes; the by-pass road runs through the resort parcel just to the east of the hotel parcel. The entire Ritz property is leased from the Crown. The lessee of the hotel parcel is Cesar Properties Ltd. The lessee of the common property of the resort parcel is a master strata corporation; the members of that master strata corporation are the large black olives on the Resort Parcel. Some of the large black olives are other strata corporations but the leasehold title to the two large black olives, which are not strata corporations, is also in the name of Cesar Properties Ltd.
The latter defaulted on the charge over the hotel parcel, the two large black olives located on the resort parcel, which are not strata corporations, and several strata lots within the other large black olives located on the resort parcel, which are strata corporations (collectively, the package). The chargee sold the leasehold title to the Package for US$177.5 million to RC Cayman Hotel Holdings Ltd. (the buyer) at a public auction; the government refuses to register the transfers for the package until the amount of stamp duty payable is resolved.
The issue - The stamp duty payment presumably submitted to the Government on the US$177.5 million, assuming a rate of 7.5 per cent, was roughly US$13.3 million. The government, according to some accounts, is saying that the value of the package is between US$468 to US$500 million. The stamp duty on US$ 500 million, assuming a rate of 7.5 per cent, is US$37.5 million.
Therefore, on the surface, US$24.2 million is at stake; however, what is really at stake is the reputation of the Cayman Islands. Discussion – The government is refusing to register the transfers for the package until the stamp duty issue is resolved; since it has this power, it seems to have the buyer in a difficult position. However, the buyer says that it cleared the US$177.5 as the fair market value for stamp duty purposes before the purchase at the public auction. Regardless of whether the buyer’s version is correct, the reputational damage to the Islands is the same.
If the buyer is correct, the government is going back on its word. If the buyer is not correct, the government’s proposition that the best evidence of market value is not what the package sold for at a properly advertised auction is dubious at best and raises the further issue of what other precautions should be taken in the future by a buyer at a public auction to protect against the stamp duty escalation risk, which all future buyers at a public auction will face. If the government wins the poker game, in my opinion, in addition to the damage to the reputation of the Islands as a good and reliable place to do business, money which could have been used by the buyer for improvements to the hotel parcel and the buildings on it will have to be paid to the government as additional stamp duty; there may be other unforeseen adverse consequences to the Islands. In the meantime, the government is refusing to cash a cheque for roughly US$13.3 million which, given current constraints, it could well use.
In order to understand why, some background is necessary.
Background – Think of the Ritz property (144.9 Acres), stretching from the Caribbean Sea to the North Sound, as a rectangular piece of bread with a large raisin and several large black olives in it. Looking at the piece of bread, the Caribbean is on the left (west) and the North Sound (east) is on the right. The piece of bread has two grooves in it, running North and South. The groove closest to the Caribbean is West Bay Road and the other groove is the by-pass road. The large raisin has West Bay Road running through it; this is the hotel parcel (8.9 acres) on which sits the Ritz Hotel. The rest of the piece of bread is the resort parcel (136 Acres) and contains large black olives of varying sizes; the by-pass road runs through the resort parcel just to the east of the hotel parcel. The entire Ritz property is leased from the Crown. The lessee of the hotel parcel is Cesar Properties Ltd. The lessee of the common property of the resort parcel is a master strata corporation; the members of that master strata corporation are the large black olives on the Resort Parcel. Some of the large black olives are other strata corporations but the leasehold title to the two large black olives, which are not strata corporations, is also in the name of Cesar Properties Ltd.
The latter defaulted on the charge over the hotel parcel, the two large black olives located on the resort parcel, which are not strata corporations, and several strata lots within the other large black olives located on the resort parcel, which are strata corporations (collectively, the package). The chargee sold the leasehold title to the Package for US$177.5 million to RC Cayman Hotel Holdings Ltd. (the buyer) at a public auction; the government refuses to register the transfers for the package until the amount of stamp duty payable is resolved.
The issue - The stamp duty payment presumably submitted to the Government on the US$177.5 million, assuming a rate of 7.5 per cent, was roughly US$13.3 million. The government, according to some accounts, is saying that the value of the package is between US$468 to US$500 million. The stamp duty on US$ 500 million, assuming a rate of 7.5 per cent, is US$37.5 million.
Therefore, on the surface, US$24.2 million is at stake; however, what is really at stake is the reputation of the Cayman Islands. Discussion – The government is refusing to register the transfers for the package until the stamp duty issue is resolved; since it has this power, it seems to have the buyer in a difficult position. However, the buyer says that it cleared the US$177.5 as the fair market value for stamp duty purposes before the purchase at the public auction. Regardless of whether the buyer’s version is correct, the reputational damage to the Islands is the same.
If the buyer is correct, the government is going back on its word. If the buyer is not correct, the government’s proposition that the best evidence of market value is not what the package sold for at a properly advertised auction is dubious at best and raises the further issue of what other precautions should be taken in the future by a buyer at a public auction to protect against the stamp duty escalation risk, which all future buyers at a public auction will face. If the government wins the poker game, in my opinion, in addition to the damage to the reputation of the Islands as a good and reliable place to do business, money which could have been used by the buyer for improvements to the hotel parcel and the buildings on it will have to be paid to the government as additional stamp duty; there may be other unforeseen adverse consequences to the Islands. In the meantime, the government is refusing to cash a cheque for roughly US$13.3 million which, given current constraints, it could well use.
Join:
2006/12/07
Messages:
29893
HORSE is the original mix-game of the modern poker era. The name is an acronym for the games that make up the mix: Hold’em, Omaha, Razz, Stud, and Stud Eight or better. Although this challenging poker format is more commonly seen in tournament format, it can also be found in cash games, especially online, and often at high stakes. If you are not yet familiar with how to play HORSE, please read the Rules page on this site.
In order to be a strong HORSE player, you must have a good understanding of both flop games and stud games, and you must be proficient at playing high-only poker, high-low split pot games, and in the case of razz, a low only game. However, unlike the more complicated 8-game and 10-game mixes, all HORSE games are played with a limit betting structure (so you never have to worry about bet sizing) and all of the games that include a low are played ace-to-five, so you never have to be concerned about going for the wrong type of low at HORSE.
HORSE can be a very fun and interesting game to play because it draws in players from all different forms of poker, many of whom may not ordinarily get the chance to play together. When playing HORSE, it is very common to encounter players who are very skilled and experienced at one game, but who are quite amateurish at some of the others. In some cases, a few of your opponents may not even be sure of some of the games‘ rules! For this reason, before attempting to play this fairly difficult mixed-game, you might want to make sure that you not only know the intricacies of all of the rules of the different forms of poker involved in HORSE, but also that you are at least familiar with the beginner’s pitfalls in each game. Even if you are the best Hold’em player at the table, if you are completely incompetent at Stud or Omaha, all of the chips you win at the Hold’em portion can easily disappear during the other rotations.
When playing HORSE, one must pay close attention to each opponent, and attempt to determine which games your individual foes are strong at, and which (if any) are their weakness. Sometimes, the clues that someone is unfamiliar or unconfident at one game may be very obvious. For example, when playing a game they struggle with, players may take a lot more time making decisions or may play much looser or tighter than they do in their better game. If you’re playing in a live setting, they may repeatedly check their hole cards during the hand, turn over losing hands at showdown, or even ask the dealer or other players to remind them of a particular rule. Often, players will make make disdainful comments or bogus rationalizations about games they are not experienced or well versed in, blaming their poor results at a particular game on bad luck. When you see things like this, it almost always means they are weak at the game they are expressing distaste for, so it pays to keep your ears open for such clues (or eyes on the chat box if playing online).
Other times, weaknesses are more subtle and require a deeper understanding of the games to uncover. For instance, Stud players often overvalue their pocket pairs and go too far with them at Hold’em, while Hold’em players often forget to be mindful of all the dead cards from folded hands in Stud games. Furthermore, players who are used to single-winner games often make the rookie mistake of drawing to non-nut lows in multi-way pots (and vastly overvalue the low side of the pot in general) when playing the high/low games. And at Razz, it is common for the uninitiated to not understand the difference in strength between opening hands like A27 and 457 (you should try to draw from the bottom up), and often miss out on valuable but fairly routine opportunities to steal on third street when you don’t have a great hand, but have a decent up-card with all higher cards behind you.
Keeping in mind that you can expect many of your HORSE opponents to be uneducated on at least one game in the rotation, make sure to take advantage, especially when you have position on them. When you’re ready to take the plunge into playing HORSE, make sure you are comfortable playing all of the games, and don’t overextend yourself at the games which aren’t your strong points – if you play tighter in those games and stick to playing solid starting hands instead of marginal ones, you’ll find yourself in less marginal situations, with much easier decisions, and ultimately, a lot more chips. For tips on how to play each individual game in HORSE, check out our strategy section which offers articles on every poker variation discussed here. Online poker guide with tips, strategy and information
Welcome!!
In order to be a strong HORSE player, you must have a good understanding of both flop games and stud games, and you must be proficient at playing high-only poker, high-low split pot games, and in the case of razz, a low only game. However, unlike the more complicated 8-game and 10-game mixes, all HORSE games are played with a limit betting structure (so you never have to worry about bet sizing) and all of the games that include a low are played ace-to-five, so you never have to be concerned about going for the wrong type of low at HORSE.
HORSE can be a very fun and interesting game to play because it draws in players from all different forms of poker, many of whom may not ordinarily get the chance to play together. When playing HORSE, it is very common to encounter players who are very skilled and experienced at one game, but who are quite amateurish at some of the others. In some cases, a few of your opponents may not even be sure of some of the games‘ rules! For this reason, before attempting to play this fairly difficult mixed-game, you might want to make sure that you not only know the intricacies of all of the rules of the different forms of poker involved in HORSE, but also that you are at least familiar with the beginner’s pitfalls in each game. Even if you are the best Hold’em player at the table, if you are completely incompetent at Stud or Omaha, all of the chips you win at the Hold’em portion can easily disappear during the other rotations.
When playing HORSE, one must pay close attention to each opponent, and attempt to determine which games your individual foes are strong at, and which (if any) are their weakness. Sometimes, the clues that someone is unfamiliar or unconfident at one game may be very obvious. For example, when playing a game they struggle with, players may take a lot more time making decisions or may play much looser or tighter than they do in their better game. If you’re playing in a live setting, they may repeatedly check their hole cards during the hand, turn over losing hands at showdown, or even ask the dealer or other players to remind them of a particular rule. Often, players will make make disdainful comments or bogus rationalizations about games they are not experienced or well versed in, blaming their poor results at a particular game on bad luck. When you see things like this, it almost always means they are weak at the game they are expressing distaste for, so it pays to keep your ears open for such clues (or eyes on the chat box if playing online).
Other times, weaknesses are more subtle and require a deeper understanding of the games to uncover. For instance, Stud players often overvalue their pocket pairs and go too far with them at Hold’em, while Hold’em players often forget to be mindful of all the dead cards from folded hands in Stud games. Furthermore, players who are used to single-winner games often make the rookie mistake of drawing to non-nut lows in multi-way pots (and vastly overvalue the low side of the pot in general) when playing the high/low games. And at Razz, it is common for the uninitiated to not understand the difference in strength between opening hands like A27 and 457 (you should try to draw from the bottom up), and often miss out on valuable but fairly routine opportunities to steal on third street when you don’t have a great hand, but have a decent up-card with all higher cards behind you.
Keeping in mind that you can expect many of your HORSE opponents to be uneducated on at least one game in the rotation, make sure to take advantage, especially when you have position on them. When you’re ready to take the plunge into playing HORSE, make sure you are comfortable playing all of the games, and don’t overextend yourself at the games which aren’t your strong points – if you play tighter in those games and stick to playing solid starting hands instead of marginal ones, you’ll find yourself in less marginal situations, with much easier decisions, and ultimately, a lot more chips. For tips on how to play each individual game in HORSE, check out our strategy section which offers articles on every poker variation discussed here. Online poker guide with tips, strategy and information
Welcome!!
Join:
2006/12/07
Messages:
29893
Apple Australia may be breaching federal online gambling laws by offering apps such as PokerStars which allow Australians to bet on casino style games with real money.
"We don't allow online poker in Australia for Australian people under the Interactive Gambling Act ... they [Apple] have got an obligation to take down apps that are against Australian law and they should do it," said Greens Senator Richard di Natale, member of the gambling reform committee.
While online sports betting is flourishing (to the alarm of many), the IGA prohibits the provision of all types of online casino-style gambling to Australians.
Fairfax was able to download the PokerStars app from the Australian iTunes app store, deposit real money and join cash tables. Apple declined to comment.
The final report of the review of the IGA, released in March, found that there may be around 2200 online gambling providers illegally offering services to Australians, who lose an estimated $1 billion per annum on online gambling services that are not licensed in Australia.
The IGA review found that existing regulations were not adequate and recommended the legislation be amended to enable and encourage currently prohibited online gaming sites to become licensed. However, the government has rejected the recommendation.
Many services are hosted overseas and so operate without Australian consumer protections and regulations and do not pay any tax here. Some, like PokerStars, have an Australian office and bank accounts.
Senator di Natale said the federal government should "clamp down" on these operators where possible and he was also worried about social gambling apps on services like Facebook which he believes may "normalise" gambling particularly for children.
Some online gambling services exploit a further legal loophole by allowing Australians to pay real money for virtual currency which is then gambled but cannot be cashed out. Senator Nick Xenophon said this "habituates gambling".
"If the government is serious about ... [avoiding] the kids of today becoming the gambling addicts of tomorrow they need to close this loophole," Xenophon told Fairfax.
One Perth-based social gambling app for Facebook operating in the grey area is Chumba Casino, which founder Laurence Escalante said crossed social gaming with online gambling by adding experience points, avatars, quests and social bonuses.
"We 'gamify' gambling to make it even more fun, accessible and safe," said founder Laurence Escalante, who recently raised $2.5 million venture capital and is seeking a gambling license.
"[Prohibition] simply doesn't work, and enforcing it in practical terms is difficult, if not impossible."
Gambling reform committee chair independent MP Andrew Wilkie has said rather than allowing online gambling sites to be licensed in Australia the government should "tighten" the rules further "and put in place strategies to deter Australians from accessing the dangerous offshore sites".
The US has historically had even stronger prohibition of online gambling than Australia but the market there is estimated at over $92 billion per annum with around 7 million online gamblers.
London-listed 888 Holdings was in late March awarded the first ever US license for an internet betting firm. Shane Warne has been closely associated with 888 Poker for some time but a member of Warne's management group told Fairfax that while Warne was "their biggest global ambassador", he did not own a stake in the firm.
Read more: Apple's poker app may be illegal here
"We don't allow online poker in Australia for Australian people under the Interactive Gambling Act ... they [Apple] have got an obligation to take down apps that are against Australian law and they should do it," said Greens Senator Richard di Natale, member of the gambling reform committee.
While online sports betting is flourishing (to the alarm of many), the IGA prohibits the provision of all types of online casino-style gambling to Australians.
Fairfax was able to download the PokerStars app from the Australian iTunes app store, deposit real money and join cash tables. Apple declined to comment.
The final report of the review of the IGA, released in March, found that there may be around 2200 online gambling providers illegally offering services to Australians, who lose an estimated $1 billion per annum on online gambling services that are not licensed in Australia.
The IGA review found that existing regulations were not adequate and recommended the legislation be amended to enable and encourage currently prohibited online gaming sites to become licensed. However, the government has rejected the recommendation.
Many services are hosted overseas and so operate without Australian consumer protections and regulations and do not pay any tax here. Some, like PokerStars, have an Australian office and bank accounts.
Senator di Natale said the federal government should "clamp down" on these operators where possible and he was also worried about social gambling apps on services like Facebook which he believes may "normalise" gambling particularly for children.
Some online gambling services exploit a further legal loophole by allowing Australians to pay real money for virtual currency which is then gambled but cannot be cashed out. Senator Nick Xenophon said this "habituates gambling".
"If the government is serious about ... [avoiding] the kids of today becoming the gambling addicts of tomorrow they need to close this loophole," Xenophon told Fairfax.
One Perth-based social gambling app for Facebook operating in the grey area is Chumba Casino, which founder Laurence Escalante said crossed social gaming with online gambling by adding experience points, avatars, quests and social bonuses.
"We 'gamify' gambling to make it even more fun, accessible and safe," said founder Laurence Escalante, who recently raised $2.5 million venture capital and is seeking a gambling license.
"[Prohibition] simply doesn't work, and enforcing it in practical terms is difficult, if not impossible."
Gambling reform committee chair independent MP Andrew Wilkie has said rather than allowing online gambling sites to be licensed in Australia the government should "tighten" the rules further "and put in place strategies to deter Australians from accessing the dangerous offshore sites".
The US has historically had even stronger prohibition of online gambling than Australia but the market there is estimated at over $92 billion per annum with around 7 million online gamblers.
London-listed 888 Holdings was in late March awarded the first ever US license for an internet betting firm. Shane Warne has been closely associated with 888 Poker for some time but a member of Warne's management group told Fairfax that while Warne was "their biggest global ambassador", he did not own a stake in the firm.
Read more: Apple's poker app may be illegal here
Join:
2006/12/07
Messages:
29893
Manne wrote:
Apple Australia may be breaching federal online gambling laws by offering apps such as PokerStars which allow Australians to bet on casino style games with real money.
"We don't allow online poker in Australia for Australian people under the Interactive Gambling Act ... they [Apple] have got an obligation to take down apps that are against Australian law and they should do it," said Greens Senator Richard di Natale, member of the gambling reform committee.
While online sports betting is flourishing (to the alarm of many), the IGA prohibits the provision of all types of online casino-style gambling to Australians.
Fairfax was able to download the PokerStars app from the Australian iTunes app store, deposit real money and join cash tables. Apple declined to comment.
The final report of the review of the IGA, released in March, found that there may be around 2200 online gambling providers illegally offering services to Australians, who lose an estimated $1 billion per annum on online gambling services that are not licensed in Australia.
The IGA review found that existing regulations were not adequate and recommended the legislation be amended to enable and encourage currently prohibited online gaming sites to become licensed. However, the government has rejected the recommendation.
Many services are hosted overseas and so operate without Australian consumer protections and regulations and do not pay any tax here. Some, like PokerStars, have an Australian office and bank accounts.
Senator di Natale said the federal government should "clamp down" on these operators where possible and he was also worried about social gambling apps on services like Facebook which he believes may "normalise" gambling particularly for children.
Some online gambling services exploit a further legal loophole by allowing Australians to pay real money for virtual currency which is then gambled but cannot be cashed out. Senator Nick Xenophon said this "habituates gambling".
"If the government is serious about ... [avoiding] the kids of today becoming the gambling addicts of tomorrow they need to close this loophole," Xenophon told Fairfax.
One Perth-based social gambling app for Facebook operating in the grey area is Chumba Casino, which founder Laurence Escalante said crossed social gaming with online gambling by adding experience points, avatars, quests and social bonuses.
"We 'gamify' gambling to make it even more fun, accessible and safe," said founder Laurence Escalante, who recently raised $2.5 million venture capital and is seeking a gambling license.
"[Prohibition] simply doesn't work, and enforcing it in practical terms is difficult, if not impossible."
Gambling reform committee chair independent MP Andrew Wilkie has said rather than allowing online gambling sites to be licensed in Australia the government should "tighten" the rules further "and put in place strategies to deter Australians from accessing the dangerous offshore sites".
The US has historically had even stronger prohibition of online gambling than Australia but the market there is estimated at over $92 billion per annum with around 7 million online gamblers.
London-listed 888 Holdings was in late March awarded the first ever US license for an internet betting firm. Shane Warne has been closely associated with 888 Poker for some time but a member of Warne's management group told Fairfax that while Warne was "their biggest global ambassador", he did not own a stake in the firm.
Read more: Apple's poker app may be illegal here
That's not so good.
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2008/12/18
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Manne wrote:
The key to poker success is mastering poker strategy. Each different type of online poker has its own online poker strategy as the different rules lend themselves to different types of tactics and planning. Part of being a great poker player is being strong at each of the different types of poker variants.
A complete guide on how to play poker online and offline.
Poker school, complete online poker guide and information
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Hi...
i m new in this game....
i m new in this game....
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2013/03/30
Messages:
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Pot odds come into play all the time when you play online. If you don't know pot odds or just choose not to worry about them, you're missing out on a big part of the game. Pot odds essentially dictate what price you're getting to call in a hand, which should determine your action. According to PokerTerms, pot odds represent "the ratio of the amount of money in the pot to the amount of money needed to call a bet." Yeah, that sounds important.
PokerTableStats is a real-time poker odds calculator that displays pot odds while you're logged in. According to a press release from PokerTableStats, "Pot odds are the ratio of the amount of money actually in the pot compared to the amount of money required to call. Based on pot odds and assessment of our odds of winning a hand, we can tell very quickly if it is worth to stay in the hand or fold."
The pot odds are displayed on PokerTableStats' handy interface using a horizontal display. You'll see a percentage written nice and big across the middle of the pot odds meter, which should help you decide whether to call a bet or fold. Also listed in the same place is the number of outs you have as well as your "Out Probability," which defines your odds of hitting one of your outs. Again, all of this is critical to becoming a winning poker player.
New players will have pot odds at their fingertips, which they can then perhaps master as their poker careers progress. As PokerTableStats officials proclaimed, "When using PokerTableStats, you don't have to apply math or worry about the correct result. PTS' calculator calculates pot odds automatically in real-time. In addition, PokerTableStats displays the pot odds result in the sidebar. It shows your odds in percents and in a visual form, which supports your intuitiveness in making decisions at the table." PokerTableStats also comes equipped with a hole card meter, draw meter, mini-HUD stats, HUD stats, the ability to see opponents' mucked cards, tournament calculations like Harrington's M and the number of big blinds, hand strength meter, your odds of winning, your opponents' odds of winning, and functionality in 28 languages.
This popular poker odds calculator offers three different subscriptions to suit any budget. The Basic plan runs $5.99 per month and does not include a HUD. The Pro plan will set your wallet back $7.99 per month and comes complete with a HUD. Finally, the PokerTableStats Gold plan is $9.99 per month and features a HUD and priority support, the latter of which will come in handy should you encounter any issues.
PokerTableStats Pot Odds Indicator: A Must When Playing Online Poker
PokerTableStats is a real-time poker odds calculator that displays pot odds while you're logged in. According to a press release from PokerTableStats, "Pot odds are the ratio of the amount of money actually in the pot compared to the amount of money required to call. Based on pot odds and assessment of our odds of winning a hand, we can tell very quickly if it is worth to stay in the hand or fold."
The pot odds are displayed on PokerTableStats' handy interface using a horizontal display. You'll see a percentage written nice and big across the middle of the pot odds meter, which should help you decide whether to call a bet or fold. Also listed in the same place is the number of outs you have as well as your "Out Probability," which defines your odds of hitting one of your outs. Again, all of this is critical to becoming a winning poker player.
New players will have pot odds at their fingertips, which they can then perhaps master as their poker careers progress. As PokerTableStats officials proclaimed, "When using PokerTableStats, you don't have to apply math or worry about the correct result. PTS' calculator calculates pot odds automatically in real-time. In addition, PokerTableStats displays the pot odds result in the sidebar. It shows your odds in percents and in a visual form, which supports your intuitiveness in making decisions at the table." PokerTableStats also comes equipped with a hole card meter, draw meter, mini-HUD stats, HUD stats, the ability to see opponents' mucked cards, tournament calculations like Harrington's M and the number of big blinds, hand strength meter, your odds of winning, your opponents' odds of winning, and functionality in 28 languages.
This popular poker odds calculator offers three different subscriptions to suit any budget. The Basic plan runs $5.99 per month and does not include a HUD. The Pro plan will set your wallet back $7.99 per month and comes complete with a HUD. Finally, the PokerTableStats Gold plan is $9.99 per month and features a HUD and priority support, the latter of which will come in handy should you encounter any issues.
PokerTableStats Pot Odds Indicator: A Must When Playing Online Poker
Join:
2006/12/07
Messages:
29893
The theory of gambling has a very extensive history and bibliography, but it is hard to find somewhat comprehensive manual on any casino game strategy. Even poker has nothing like that despite the number of publications on this game is, probably, the biggest. Indeed, it is not a problem to come across a title mentioning some poker strategy or anything like that, but in reality it is not exactly about that simply because poker strategy is a very personal thing and, which is the most noticeable thing of all, depends on where one is going to play poker. For example, any tournament poker strategy will be different from any other place and, in addition, even during one tournament, players change their strategies few times a day. Many poker experts say that it is very important to choose a good site for your gaming. For example, pokerstars sign up bonus will allow you to play your favourite game and receive bonus money on your account.
Next level of poker strategy diversification may be found in between different flavors of poker. Thus, Hold em poker strategy will be different from what they call Tri-card poker, which is also an obvious thing. That is why poker strategy tips will vary accordingly as well. Yet not so long ago the world saw a new trend, dealing with online gambling and casinos. As it was expected, new poker strategy online variations had been introduced in no time. Another popular casino game is slots. Playing online slots for real money brings more than just a feeling of satisfaction to many players. It also brings thrills and excitement to every player and sets of special hormones and chemicals in their brain that not only excite the players but also gives them an incredible feeling that is hard to describe.
In spite of the fact, the variety of poker is too complex to keep it neat and tidy, all variants of poker has too many things in common, especially, in those parts of strategies, where there is nothing about poker in particular, but rather about the player, its pocket and time that one may dedicate to poker and gambling in general. Any gambling strategy, including the one for poker, begins with self-discipline and ability of a given personality to stay in control of everything in the game and around it.
First point of self-discipline is in budgeting as budget has limits itself, and it is necessary to remember of that all the time. Next point of self-control is time – every human must sleep, eat and so on. This means that there is no option to play more than one can with or without the money. Further advancement to a perfect poker strategy lies in knowing poker hands, odds and other bits of information that one needs to read cards on hands as well as estimate cards other players have or may wish to have. All the said ingredients create the visible part of one’s strategy, which is, no doubt, very important, but not complete. Its counterpart is created with intuition and ability to sniff other players’ intentions and inclinations. It may be even more difficult than someone may imagine, but it is quite possible to do that anyway – practice may perfect. Some people consider that it is necessary to make some assumptions first and then try to check those, but this has a sense for situations when all one’s opponents are at the same table. In situations with online poker, there are no more tangible sources or hints than one’s computer and poker room seen on the monitor.
Diversity of Poker Strategy Tips
Next level of poker strategy diversification may be found in between different flavors of poker. Thus, Hold em poker strategy will be different from what they call Tri-card poker, which is also an obvious thing. That is why poker strategy tips will vary accordingly as well. Yet not so long ago the world saw a new trend, dealing with online gambling and casinos. As it was expected, new poker strategy online variations had been introduced in no time. Another popular casino game is slots. Playing online slots for real money brings more than just a feeling of satisfaction to many players. It also brings thrills and excitement to every player and sets of special hormones and chemicals in their brain that not only excite the players but also gives them an incredible feeling that is hard to describe.
In spite of the fact, the variety of poker is too complex to keep it neat and tidy, all variants of poker has too many things in common, especially, in those parts of strategies, where there is nothing about poker in particular, but rather about the player, its pocket and time that one may dedicate to poker and gambling in general. Any gambling strategy, including the one for poker, begins with self-discipline and ability of a given personality to stay in control of everything in the game and around it.
First point of self-discipline is in budgeting as budget has limits itself, and it is necessary to remember of that all the time. Next point of self-control is time – every human must sleep, eat and so on. This means that there is no option to play more than one can with or without the money. Further advancement to a perfect poker strategy lies in knowing poker hands, odds and other bits of information that one needs to read cards on hands as well as estimate cards other players have or may wish to have. All the said ingredients create the visible part of one’s strategy, which is, no doubt, very important, but not complete. Its counterpart is created with intuition and ability to sniff other players’ intentions and inclinations. It may be even more difficult than someone may imagine, but it is quite possible to do that anyway – practice may perfect. Some people consider that it is necessary to make some assumptions first and then try to check those, but this has a sense for situations when all one’s opponents are at the same table. In situations with online poker, there are no more tangible sources or hints than one’s computer and poker room seen on the monitor.
Diversity of Poker Strategy Tips
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Freerolls are tournaments that are free to enter. That's the good news. The bad news is that you usually can't win much money. They are still worth playing, however.
Freerolls help you lay the foundation for your bankroll. Many players have already illustrated that it is possible to move up in the game without having to spend a single penny.
Freerolls are a free opportunity to gain experience. It is very hard to gain the necessary experience of playing at the final table, simply because you very rarely get to see it. How often do you enter a tournament and how often do you see the final table in the end? Freerolls give you a cost free chance to train playing a final table.
Freerolls are fun. You're not risking a loss and a large variety of people enter these tournaments, some of whom are worth getting to know.
The fact that this type of tournament is free to enter also means it has a number of special features, you might even say peculiarities. This article explains what these peculiarities are and what strategy to use when entering a freeroll.
What are your opponents like?
Although there are players who take every type of poker very seriously, freerolls tend to predominantly attract the following two types of people:
The type of person that hasn't got a clue about poker.
The type of person that couldn't care less about the tournament.
The players either don't know what they're doing or just want to have a laugh. And once you've played a table full of these types of players, you'll know what this means: A good game of poker is another thing entirely.
Your bets and raises are not respected.
It's hard to guess what cards your opponents are holding.
Complex moves are generally "too complex" and useless.
A freeroll sometimes comes across as a kind of private poker event. Someone always blows a fuse somewhere along the line and throws all their chips into the pot without being able to say why.
Playing poker with a big hammer
If you aim to win a freeroll, then your opponents dictate the strategy you need to use: you have to play with a big hammer - rough and simple.
Only play good starting hands.
Make big raises and bet large. Bigger than in a normal game.
If you've got a good hand, then go on the attack.
If you have nothing, leave it. Don't bluff.
That's it basically. Wait for the good cards and then you're on your way. A detailed look reveals there are three distinct stages:
The early stage: The chip stacks are pretty high compared to the blinds. You have more than 25 big blinds worth of chips.
The late stage: The blinds have gone up considerably. Your chip stack amounts to less than 25 big blinds.
The final table: This is the decisive stage. You've reached the last table.
How do you play the early stage?
In the early stage of a freeroll you will not be able to thin the field of players by making a normal raise. And even with two aces you don't like the situation when four opponents see the flop with you. Therefore if you have a strong starting hand you should go all-in before the flop.
Before the Flop
Go all-in from any position if you're holding AA, KK, QQ or AK, even if someone has raised before you.
If you're sitting in middle or late position you should also go all-in with JJ or AQ, as long as no one has raised before you.
If you're holding smaller pairs from two sixes upwards in middle or late position you should raise from four (or more) big blinds, as long as there hasn't been a raise up till then.
In late position you can afford to see the flop even if you have speculative cards, as long as there hasn't been a raise. That means you are limping (only calling the big blind) with: two fives, fours, threes, twos, a suited ace and the so-called middle to high suited connectors. These are two sequential cards of the same suit, such as a seven and six or a queen and jack.
After the Flop
The central question after the flop is: Do you have anything? If not, then the round is over for you.
If you have two pairs or better, then you go all-in.
If you're holding a flush draw or open-ended straight draw (OESD), you should only go all-in if a number of opponents have already continued to put chips in the pot.
If you're holding a top pair, i.e. a pair made up of one of your starting cards and the highest community card, then you only go all-in if you have a maximum of two opponents. Proceed very carefully if you're playing against more than two opponents.
How do you play the late stage?
The late stage begins when you only have about 20-25 big blinds left in chips. The strategy you have to follow in this case is: raise or fold. So you either raise or fold preflop. And as soon as an opponent after or before you raises you should go all-in or fold, depending on the cards you have, of course. Just pressing the call button with the intention of looking at a flop or limping is strictly prohibited from now on.
Take a close look at the players with low chip stacks. You'll need decent cards to play against them, because they're just waiting for the opportunity to throw all their chips in.
Be sure not to challenge aggressive players who have more chips than you do. You'll need to have a strong hand to play them.
Before the Flop
Raise in any position if you're holding AA, KK, QQ, JJ, TT or AK to about four big blinds. If anyone raises that, go all-in.
Also raise in middle or late position if you're holding a pair of nines. This also goes for KQ, AJ and AQ. If someone raises after you, you should go all-in if you're holding any of these hands, except the KQ and AJ - if you hold those two hands you should fold to the raise.
After the Flop
At this stage the round is decided on the flop at the latest. This is simply because the pot is so big, that you won't be able to back out once you've decided to continue playing.
If you've raised preflop and only h
Freerolls help you lay the foundation for your bankroll. Many players have already illustrated that it is possible to move up in the game without having to spend a single penny.
Freerolls are a free opportunity to gain experience. It is very hard to gain the necessary experience of playing at the final table, simply because you very rarely get to see it. How often do you enter a tournament and how often do you see the final table in the end? Freerolls give you a cost free chance to train playing a final table.
Freerolls are fun. You're not risking a loss and a large variety of people enter these tournaments, some of whom are worth getting to know.
The fact that this type of tournament is free to enter also means it has a number of special features, you might even say peculiarities. This article explains what these peculiarities are and what strategy to use when entering a freeroll.
What are your opponents like?
Although there are players who take every type of poker very seriously, freerolls tend to predominantly attract the following two types of people:
The type of person that hasn't got a clue about poker.
The type of person that couldn't care less about the tournament.
The players either don't know what they're doing or just want to have a laugh. And once you've played a table full of these types of players, you'll know what this means: A good game of poker is another thing entirely.
Your bets and raises are not respected.
It's hard to guess what cards your opponents are holding.
Complex moves are generally "too complex" and useless.
A freeroll sometimes comes across as a kind of private poker event. Someone always blows a fuse somewhere along the line and throws all their chips into the pot without being able to say why.
Playing poker with a big hammer
If you aim to win a freeroll, then your opponents dictate the strategy you need to use: you have to play with a big hammer - rough and simple.
Only play good starting hands.
Make big raises and bet large. Bigger than in a normal game.
If you've got a good hand, then go on the attack.
If you have nothing, leave it. Don't bluff.
That's it basically. Wait for the good cards and then you're on your way. A detailed look reveals there are three distinct stages:
The early stage: The chip stacks are pretty high compared to the blinds. You have more than 25 big blinds worth of chips.
The late stage: The blinds have gone up considerably. Your chip stack amounts to less than 25 big blinds.
The final table: This is the decisive stage. You've reached the last table.
How do you play the early stage?
In the early stage of a freeroll you will not be able to thin the field of players by making a normal raise. And even with two aces you don't like the situation when four opponents see the flop with you. Therefore if you have a strong starting hand you should go all-in before the flop.
Before the Flop
Go all-in from any position if you're holding AA, KK, QQ or AK, even if someone has raised before you.
If you're sitting in middle or late position you should also go all-in with JJ or AQ, as long as no one has raised before you.
If you're holding smaller pairs from two sixes upwards in middle or late position you should raise from four (or more) big blinds, as long as there hasn't been a raise up till then.
In late position you can afford to see the flop even if you have speculative cards, as long as there hasn't been a raise. That means you are limping (only calling the big blind) with: two fives, fours, threes, twos, a suited ace and the so-called middle to high suited connectors. These are two sequential cards of the same suit, such as a seven and six or a queen and jack.
After the Flop
The central question after the flop is: Do you have anything? If not, then the round is over for you.
If you have two pairs or better, then you go all-in.
If you're holding a flush draw or open-ended straight draw (OESD), you should only go all-in if a number of opponents have already continued to put chips in the pot.
If you're holding a top pair, i.e. a pair made up of one of your starting cards and the highest community card, then you only go all-in if you have a maximum of two opponents. Proceed very carefully if you're playing against more than two opponents.
How do you play the late stage?
The late stage begins when you only have about 20-25 big blinds left in chips. The strategy you have to follow in this case is: raise or fold. So you either raise or fold preflop. And as soon as an opponent after or before you raises you should go all-in or fold, depending on the cards you have, of course. Just pressing the call button with the intention of looking at a flop or limping is strictly prohibited from now on.
Take a close look at the players with low chip stacks. You'll need decent cards to play against them, because they're just waiting for the opportunity to throw all their chips in.
Be sure not to challenge aggressive players who have more chips than you do. You'll need to have a strong hand to play them.
Before the Flop
Raise in any position if you're holding AA, KK, QQ, JJ, TT or AK to about four big blinds. If anyone raises that, go all-in.
Also raise in middle or late position if you're holding a pair of nines. This also goes for KQ, AJ and AQ. If someone raises after you, you should go all-in if you're holding any of these hands, except the KQ and AJ - if you hold those two hands you should fold to the raise.
After the Flop
At this stage the round is decided on the flop at the latest. This is simply because the pot is so big, that you won't be able to back out once you've decided to continue playing.
If you've raised preflop and only h
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A high roller, also referred to as a whale in the casino industry, is a gambler who wagers large amounts of money. High rollers often receive lavish "comps" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos' best suites. Casinos may also extend credit to a player to continue betting,[1] offer rebates on betting turnover or losses,[2] and salaries of employees may also contain incentive arrangements to bring in high rollers.[3]
The definition of a high roller varies. At Crown Casino in Australia it involves bringing between A$50,000 and $75,000 to the table.[4] High roller players often have very high table limits allowing the high roller exclusive use. Casinos compete on bet limits, in Australia limits of A$300,000 are common, in Las Vegas they are between US$150,000 and $300,000, and in Macau they are up to US$500,000. Only casinos with "substantial financial firepower" can accommodate high-stakes gambling due to the "volatility" of results.[2]
High rollers may also be subject to exceptions from various rules and regulations, for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking.[5]
High rollers are said to provide only a small fraction of casino "action." John Eidsmoe, in his book Legalized Gambling: America's Bad Bet, claims that it is actually gamblers from the lower and lower-middle classes in the United States that provide much of the gambling money. "The occasional wealthy 'high roller' does indeed exist, but he is the exception, not the standard. The fact that more than 50% of Nevada's gambling income comes from slot machines as opposed to the card tables should be an indication high rollers are not the main source of revenue."[6]
One example of a high roller is an Australian man who turned over more than A$1.5 billion in a 14 month period from 2005, becoming "one of Crown's largest Australian players but not in the same league as our top international players".[3] There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.[1][7][8]
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them. There are significant costs associated with attracting the highest stakes gamblers, so if a casino takes this chance and the whale wins, its expenses can be extraordinarily large. But if the casino's investment pays off and the high roller loses, the casino's gain can far exceed its expenses for his visit.
High roller - Wikipedia, the free encyclopedia
The definition of a high roller varies. At Crown Casino in Australia it involves bringing between A$50,000 and $75,000 to the table.[4] High roller players often have very high table limits allowing the high roller exclusive use. Casinos compete on bet limits, in Australia limits of A$300,000 are common, in Las Vegas they are between US$150,000 and $300,000, and in Macau they are up to US$500,000. Only casinos with "substantial financial firepower" can accommodate high-stakes gambling due to the "volatility" of results.[2]
High rollers may also be subject to exceptions from various rules and regulations, for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking.[5]
High rollers are said to provide only a small fraction of casino "action." John Eidsmoe, in his book Legalized Gambling: America's Bad Bet, claims that it is actually gamblers from the lower and lower-middle classes in the United States that provide much of the gambling money. "The occasional wealthy 'high roller' does indeed exist, but he is the exception, not the standard. The fact that more than 50% of Nevada's gambling income comes from slot machines as opposed to the card tables should be an indication high rollers are not the main source of revenue."[6]
One example of a high roller is an Australian man who turned over more than A$1.5 billion in a 14 month period from 2005, becoming "one of Crown's largest Australian players but not in the same league as our top international players".[3] There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.[1][7][8]
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them. There are significant costs associated with attracting the highest stakes gamblers, so if a casino takes this chance and the whale wins, its expenses can be extraordinarily large. But if the casino's investment pays off and the high roller loses, the casino's gain can far exceed its expenses for his visit.
High roller - Wikipedia, the free encyclopedia
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2006/12/07
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Nevada lawmakers introduced legislation Thursday to study the impact of a recent ban on Internet gambling and ways to regulate the industry if online wagering were legalized.
U.S. Rep. Shelley Berkley,
D-Las Vegas, is sponsoring the legislation, which would authorize the National Academy of Sciences to study the issue. U.S. Rep. Dean Heller, R-Carson City, and U.S. Rep. Jon Porter, R-Las Vegas, are co-sponsors.
U.S. Rep. Barney Frank,
D-Mass., has introduced another bill in the House that would repeal the Internet gambling ban.
Berkley said her bill would help lawmakers better understand the issues involved with Internet gambling, including technology that could help regulate the industry and the impact of the ban on the U.S. and other countries.
The American Gaming Association supports the bills.
www-rgj-com/article/20070504/NEWS11/705040482/Lawmakers-want-bill-study-Internet-gambling
U.S. Rep. Shelley Berkley,
D-Las Vegas, is sponsoring the legislation, which would authorize the National Academy of Sciences to study the issue. U.S. Rep. Dean Heller, R-Carson City, and U.S. Rep. Jon Porter, R-Las Vegas, are co-sponsors.
U.S. Rep. Barney Frank,
D-Mass., has introduced another bill in the House that would repeal the Internet gambling ban.
Berkley said her bill would help lawmakers better understand the issues involved with Internet gambling, including technology that could help regulate the industry and the impact of the ban on the U.S. and other countries.
The American Gaming Association supports the bills.
www-rgj-com/article/20070504/NEWS11/705040482/Lawmakers-want-bill-study-Internet-gambling
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29893
Full Tilt Poker bolted into second place in cash game online player traffic rankings over the past week, pushing both the iPoker Network and 888Poker aside to land behind sister site PokerStars in the global rankings.
FTP now boasts a seven-day average of 2,700 players, while third and fourth place iPoker and 888Poker clock in at 2,600 and 2,300, respectively. The Big Bonus promotion at Full Tilt appears to be the reason for this surge in cash game action, with today being the last day for players to avail themselves of their personalized bonuses.
The industry leader in player traffic, PokerStars, saw cash action boost by 5% last week. The rise is likely attributable to a November Missions promo that permits players to name a mission and then go about accomplishing it. Those who do so earn a freeroll entry that correlates directly with the mission's level of difficulty.
One mission that PokerStars itself may fall short of is gaining a foothold in the newly-regulated U.S. market in New Jersey. Rumors persist that New Jersey gaming officials will not be approving PokerStars' application for a license in conjunction with a partnership agreement with Resorts Casino Hotel.
Though PokerStars can seemingly do no wrong throughout the rest of the world, the welcome mat may not yet be out in the U.S. The latest setback may be due to site founder Isai Scheinberg and his status as a fugitive in the Black Friday allegations. More will be known Friday when the Division of Gaming Enforcement announce additional preliminary license approvals (or denials).
PartyPoker rounds out the top five, with PokerScout reporting a 2% player increase for the week. Apparently, players at the bwin.party site have been in forgive and forget mode with regards to the "Protected Table" policy that almost caused a massive player sit-out before PartyPoker honchos stepped in to scrap the format and smooth over the lack of communication issue.
Among the rest of the top ten in the worldwide rankings, Winamax edged up a notch to seventh place. That bumped PokerStars' Spain offering to eighth place, landing there softly after being buoyed in late October by its one billionth hand promotion that saw traffic rise 40% at one point.
PokerStars.es was the only top ten poker room to lose traffic last week. The industry overall saw a huge gain of 5%, the third consecutive week to show an increase. On the downside, the global market is off 18% from the pace set last year at this time.
Also on the decline is history's first regulated U.S. poker room. Ultimate Poker is feeling the stress of going up against the powerful WSOP brand name as WSOP-com's lead over the first legal launcher is widening. The seven-day cash game player average finds 130 players favoring WSOP-com, while 110 are trying to win money at UP during the same span of time.
Online Poker Player Traffic Update - Nov. 12, 2013 | PokerUpdate
FTP now boasts a seven-day average of 2,700 players, while third and fourth place iPoker and 888Poker clock in at 2,600 and 2,300, respectively. The Big Bonus promotion at Full Tilt appears to be the reason for this surge in cash game action, with today being the last day for players to avail themselves of their personalized bonuses.
The industry leader in player traffic, PokerStars, saw cash action boost by 5% last week. The rise is likely attributable to a November Missions promo that permits players to name a mission and then go about accomplishing it. Those who do so earn a freeroll entry that correlates directly with the mission's level of difficulty.
One mission that PokerStars itself may fall short of is gaining a foothold in the newly-regulated U.S. market in New Jersey. Rumors persist that New Jersey gaming officials will not be approving PokerStars' application for a license in conjunction with a partnership agreement with Resorts Casino Hotel.
Though PokerStars can seemingly do no wrong throughout the rest of the world, the welcome mat may not yet be out in the U.S. The latest setback may be due to site founder Isai Scheinberg and his status as a fugitive in the Black Friday allegations. More will be known Friday when the Division of Gaming Enforcement announce additional preliminary license approvals (or denials).
PartyPoker rounds out the top five, with PokerScout reporting a 2% player increase for the week. Apparently, players at the bwin.party site have been in forgive and forget mode with regards to the "Protected Table" policy that almost caused a massive player sit-out before PartyPoker honchos stepped in to scrap the format and smooth over the lack of communication issue.
Among the rest of the top ten in the worldwide rankings, Winamax edged up a notch to seventh place. That bumped PokerStars' Spain offering to eighth place, landing there softly after being buoyed in late October by its one billionth hand promotion that saw traffic rise 40% at one point.
PokerStars.es was the only top ten poker room to lose traffic last week. The industry overall saw a huge gain of 5%, the third consecutive week to show an increase. On the downside, the global market is off 18% from the pace set last year at this time.
Also on the decline is history's first regulated U.S. poker room. Ultimate Poker is feeling the stress of going up against the powerful WSOP brand name as WSOP-com's lead over the first legal launcher is widening. The seven-day cash game player average finds 130 players favoring WSOP-com, while 110 are trying to win money at UP during the same span of time.
Online Poker Player Traffic Update - Nov. 12, 2013 | PokerUpdate
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Online gambling has received some real flak over the years. Of course, the perils of becoming addicted to gambling are clear for all to see, but the same is true of a whole host of other vices. The phrase “all things in moderation” comes to mind as Young Academic has recently discovered – poker as a pastime can actually have a positive effect on the student psyche.
Now, let’s be clear. As the national student news website, Young Academic is in no way advocating gambling as a recommended staple of student life – but it has recently been suggested that similarly to chess, poker can help with cognitive skills and pragmatism; traits that can surely only help boost your grey matter and help your studies.
Indeed, poker is a game that can also be enjoyed and a very cheap night with the girls or boys when the student loan or wages start to run worryingly low. The key is only spending what you can afford to lose, whether this is a quid or perhaps a fiver. There is no need to start gambling stupid money; this is where the problems tend to start. Set your limit and stick to it and online poker can become an enjoyable experience and something you can treat yourself to if you find yourself with few extra readies. We hear all the horror stories of people losing vast amounts of money but people often forget that it is actually pretty easy to turn that few quid into some serious wedge. Crucially though, we only recommend that you play online poker with ethical and respected providers such as 888 Poker and gamble as frugally as possible.
So, what about this concept of poker improving cognitive skills? Well, it is actually metacognition that could well be boosted by the regular playing of poker. In short, this is the practice of ‘thinking about thinking’ and formulating different strategies for certain scenarios or situations. These metacognitive skills are regarded to be good indicators or academic success and educational prowess. It has long been thought that chess helps to develop these very skills so it makes sense that the very same ethos can apply to a tactical and strategic game such as online poker.
Similarly, poker can improve one’s ability to be able to switch between tasks at will (so, if you partner or mother keep saying that you can’t multi-task – it could well be that poker helps you to combat this). So, when you change your hand or strategy mid-round and find yourself more able to do this – you know poker is having the desired effect on your cognitive skills. Many people think that this skill is becoming ever more important as the demands of technology on our attention increase.
It is important to reiterate that we are in no way suggesting that any students in the UK or indeed beyond start to make online poker a big part of their lives. Gambling is a dangerous concept when abused, but there is most certainly a case for it boosting your mental prowess when approached appropriately.
How Playing Online Poker Responsibly Could Boost Your Grey Matter |
Now, let’s be clear. As the national student news website, Young Academic is in no way advocating gambling as a recommended staple of student life – but it has recently been suggested that similarly to chess, poker can help with cognitive skills and pragmatism; traits that can surely only help boost your grey matter and help your studies.
Indeed, poker is a game that can also be enjoyed and a very cheap night with the girls or boys when the student loan or wages start to run worryingly low. The key is only spending what you can afford to lose, whether this is a quid or perhaps a fiver. There is no need to start gambling stupid money; this is where the problems tend to start. Set your limit and stick to it and online poker can become an enjoyable experience and something you can treat yourself to if you find yourself with few extra readies. We hear all the horror stories of people losing vast amounts of money but people often forget that it is actually pretty easy to turn that few quid into some serious wedge. Crucially though, we only recommend that you play online poker with ethical and respected providers such as 888 Poker and gamble as frugally as possible.
So, what about this concept of poker improving cognitive skills? Well, it is actually metacognition that could well be boosted by the regular playing of poker. In short, this is the practice of ‘thinking about thinking’ and formulating different strategies for certain scenarios or situations. These metacognitive skills are regarded to be good indicators or academic success and educational prowess. It has long been thought that chess helps to develop these very skills so it makes sense that the very same ethos can apply to a tactical and strategic game such as online poker.
Similarly, poker can improve one’s ability to be able to switch between tasks at will (so, if you partner or mother keep saying that you can’t multi-task – it could well be that poker helps you to combat this). So, when you change your hand or strategy mid-round and find yourself more able to do this – you know poker is having the desired effect on your cognitive skills. Many people think that this skill is becoming ever more important as the demands of technology on our attention increase.
It is important to reiterate that we are in no way suggesting that any students in the UK or indeed beyond start to make online poker a big part of their lives. Gambling is a dangerous concept when abused, but there is most certainly a case for it boosting your mental prowess when approached appropriately.
How Playing Online Poker Responsibly Could Boost Your Grey Matter |
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On December 1st, 2013, the inaugural edition of NJ’s largest Sunday tournament - the Party Poker NJ $50k Guaranteed – was won by Mike “MikeyCasino” Azzaro.
And then the very next Sunday, he did it again.
I talked with Azzaro, a full-time poker pro from Yonkers, NY, about his experience with New Jersey’s fledgling online poker market, what he sees for the future of online poker in NJ and what it was like to secure a permanent part in the story of PartyPoker’s return to the United States.
Follow Mike on Twitter: @Michael_Azzaro.
Chris Grove: How long have you been a full-time poker player?
Mike Azzaro: 4 years. I’ve been on the live tournament scene full-time for a little over a year now, though.
Grove: Are you mainly an MTT player? Why? What else do you dabble in?
Azzaro: I started in poker playing cash games. 2 years ago I transitioned into a MTT player. I still love the freedom and fun of cash games but I primarily play tournaments these days.
I think its important for all full-time tournament players to play cash games to keep their bankroll healthy because tournaments are so high variance.
Grove: Why “MikeyCasino?”
Azzaro: When I met my road roommate Asher Conniff he saved me in his phone as Mikey Casino.
Over time that morphed into a nickname/inside joke of ours. When I made my online name it just seemed to fit. The rest,as they say, is history.
Grove: Can you describe the level of competition in the Party tournaments relative to what you’ve experienced in the past — online and live?
Azzaro: I definitely noticed a few tough players on Party Poker these past two weeks. I definitely think there’s going to be a learning curve, with so many New Jersey residents playing online for possibly the first time.
I frequently know alot of players I play with in live tournaments, so the anonymity of online poker in Jersey at this time is, or at least was, pretty nice.
Grove: Are you only playing on Party in NJ or are you spreading your play around? Why?
Azzaro: I put in a session on WSOP.COM last weekend and enjoyed the software alot.
From what I hear, the other sites just don’t have the traffic to make it worth playing. Obviously it’s going to take some time for the player pools to grow and the guarantees to grow, but I’m really impressed with the sites so far.
Grove: Tell us what was going through your head when you made that second final table.
Azzaro: It was honestly pretty surreal. Me and my friends were mostly just laughing at how absurd it was. I was also pretty focused and aware of how awesome it would be to go back to back.
It didn’t hurt that I was second in chips most of the time; that definitely made things more relaxed.
Grove: You’re from outside of NJ – how tough was it to get on to NJ sites as an out-of-state player?
Azzaro: It was super easy. Once they located me as being in New Jersey, which was the hard part, it took 2 minutes to create an account and deposit.
Grove: The first time you won the Sunday 50k there was an $18k overlay. The second time, there was effectively no overlay with 265 players. How many people do you see playing the Sunday $50k tournament in 2 months? A year?
Azzaro: I definitely see online poker growing a lot in New Jersey in the future. I’m optimistic that within a year or two New Jersey players will be allowed to play with players from other states with legalized online poker, which would be a huge advancement of the online game.
Regardless, I think that this Party Poker 50k wont stay a 50k for long. That guarantee will hopefully rise.
Grove: What are the two things NJ poker sites can do to attract more players like you?
Azzaro: They need more tournaments with guarantees on a daily basis as well as specifically on Sundays. In the short term the sites would lose a few bucks, but it would attract new players.
I just think more deposit bonuses, guarantees and other promotions can only help the sites grow. People like free stuff!
PartyPoker NJ Champ "MikeyCasino" Talks Win, Future of New Jersey Poker
And then the very next Sunday, he did it again.
I talked with Azzaro, a full-time poker pro from Yonkers, NY, about his experience with New Jersey’s fledgling online poker market, what he sees for the future of online poker in NJ and what it was like to secure a permanent part in the story of PartyPoker’s return to the United States.
Follow Mike on Twitter: @Michael_Azzaro.
Chris Grove: How long have you been a full-time poker player?
Mike Azzaro: 4 years. I’ve been on the live tournament scene full-time for a little over a year now, though.
Grove: Are you mainly an MTT player? Why? What else do you dabble in?
Azzaro: I started in poker playing cash games. 2 years ago I transitioned into a MTT player. I still love the freedom and fun of cash games but I primarily play tournaments these days.
I think its important for all full-time tournament players to play cash games to keep their bankroll healthy because tournaments are so high variance.
Grove: Why “MikeyCasino?”
Azzaro: When I met my road roommate Asher Conniff he saved me in his phone as Mikey Casino.
Over time that morphed into a nickname/inside joke of ours. When I made my online name it just seemed to fit. The rest,as they say, is history.
Grove: Can you describe the level of competition in the Party tournaments relative to what you’ve experienced in the past — online and live?
Azzaro: I definitely noticed a few tough players on Party Poker these past two weeks. I definitely think there’s going to be a learning curve, with so many New Jersey residents playing online for possibly the first time.
I frequently know alot of players I play with in live tournaments, so the anonymity of online poker in Jersey at this time is, or at least was, pretty nice.
Grove: Are you only playing on Party in NJ or are you spreading your play around? Why?
Azzaro: I put in a session on WSOP.COM last weekend and enjoyed the software alot.
From what I hear, the other sites just don’t have the traffic to make it worth playing. Obviously it’s going to take some time for the player pools to grow and the guarantees to grow, but I’m really impressed with the sites so far.
Grove: Tell us what was going through your head when you made that second final table.
Azzaro: It was honestly pretty surreal. Me and my friends were mostly just laughing at how absurd it was. I was also pretty focused and aware of how awesome it would be to go back to back.
It didn’t hurt that I was second in chips most of the time; that definitely made things more relaxed.
Grove: You’re from outside of NJ – how tough was it to get on to NJ sites as an out-of-state player?
Azzaro: It was super easy. Once they located me as being in New Jersey, which was the hard part, it took 2 minutes to create an account and deposit.
Grove: The first time you won the Sunday 50k there was an $18k overlay. The second time, there was effectively no overlay with 265 players. How many people do you see playing the Sunday $50k tournament in 2 months? A year?
Azzaro: I definitely see online poker growing a lot in New Jersey in the future. I’m optimistic that within a year or two New Jersey players will be allowed to play with players from other states with legalized online poker, which would be a huge advancement of the online game.
Regardless, I think that this Party Poker 50k wont stay a 50k for long. That guarantee will hopefully rise.
Grove: What are the two things NJ poker sites can do to attract more players like you?
Azzaro: They need more tournaments with guarantees on a daily basis as well as specifically on Sundays. In the short term the sites would lose a few bucks, but it would attract new players.
I just think more deposit bonuses, guarantees and other promotions can only help the sites grow. People like free stuff!
PartyPoker NJ Champ "MikeyCasino" Talks Win, Future of New Jersey Poker
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2006/12/07
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A California software designer has invented a new online poker game known as "Texas Block 'Em" that removes luck from the game by requiring players to choose their own hole cards instead of playing the cards dealt to them.
Just as in Texas Hold'em, the community cards are dealt on the board in random fashion in Texas Block 'Em. But players select their desired hole cards in accordance with the community cards. When two players choose the same hole card, that card becomes "blocked."
Sound silly? I think so, but perhaps judgment should be reserved until after actually playing. The new game is the brainchild of Arthur M. Pfeiffer, who will roll out Texas Block 'Em in 2014 through his software company, Thwart Poker Inc., according to the San Francisco Examiner.
“In regular poker, each player relies heavily on the fixed laws of mathematics to calculate the probability that the cards dealt will give him a winning hand,” Pfeiffer said. “In Texas Block ’Em, each player relies heavily on his sense of human psychology in reading opponents to determine the probability that he can pick the right cards for a winning hand.”
Texas Block 'Em for real-money will be made available to players in the U.S. The fact that randomness of dealt hole cards is removed from the equation has legal experts convinced that the new game will not be in violation of current online gambling statutes.
"Texas Block ’Em is a contest and not gambling because it doesn’t have the element of chance," said I. Nelson Rose, a law school professor and recognized expert on gaming law.
The new poker game draws similarities to Duplicate Poker in attempting to remove the element of chance. But Duplicate Poker deals identical cards to players at different tables from pre-set decks, with winners emerging based on the success achieved in comparison to those holding the same cards and competing at other tables.
Duplicate Poker never gained a tremendous amount of popularity and there is a very real possibility that the same fate awaits Texas Block 'Em. However, that is not dissuading Pfeiffer from launching his new game next year.
The 79-year-old is no stranger to creating variations of poker. He holds patents on Hold ’Em Battle and Hold ’Em Blitz, two games that are available on iPod Touch and iPhone.
Texas Block 'Em to Launch in 2014 | PokerUpdate
Just as in Texas Hold'em, the community cards are dealt on the board in random fashion in Texas Block 'Em. But players select their desired hole cards in accordance with the community cards. When two players choose the same hole card, that card becomes "blocked."
Sound silly? I think so, but perhaps judgment should be reserved until after actually playing. The new game is the brainchild of Arthur M. Pfeiffer, who will roll out Texas Block 'Em in 2014 through his software company, Thwart Poker Inc., according to the San Francisco Examiner.
“In regular poker, each player relies heavily on the fixed laws of mathematics to calculate the probability that the cards dealt will give him a winning hand,” Pfeiffer said. “In Texas Block ’Em, each player relies heavily on his sense of human psychology in reading opponents to determine the probability that he can pick the right cards for a winning hand.”
Texas Block 'Em for real-money will be made available to players in the U.S. The fact that randomness of dealt hole cards is removed from the equation has legal experts convinced that the new game will not be in violation of current online gambling statutes.
"Texas Block ’Em is a contest and not gambling because it doesn’t have the element of chance," said I. Nelson Rose, a law school professor and recognized expert on gaming law.
The new poker game draws similarities to Duplicate Poker in attempting to remove the element of chance. But Duplicate Poker deals identical cards to players at different tables from pre-set decks, with winners emerging based on the success achieved in comparison to those holding the same cards and competing at other tables.
Duplicate Poker never gained a tremendous amount of popularity and there is a very real possibility that the same fate awaits Texas Block 'Em. However, that is not dissuading Pfeiffer from launching his new game next year.
The 79-year-old is no stranger to creating variations of poker. He holds patents on Hold ’Em Battle and Hold ’Em Blitz, two games that are available on iPod Touch and iPhone.
Texas Block 'Em to Launch in 2014 | PokerUpdate
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2006/12/07
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It’s hard to win at poker. Brutally hard. It’s so hard, in fact, that approximately 75 percent of poker players lose (some studies say it’s even higher). Last year, the federal government argued in court that because so few players win, skill cannot possibly predominate over luck in our game. Thankfully, Judge Weinstein rejected this absurd argument. He understood that just because it’s hard to win at poker, doesn’t mean it’s impossible. (Sadly, Weinstein’s verdict was set aside a few months ago by a higher court, but that’s an article for another time.) The interesting question is not whether poker is a game of skill (of course it is), but why it’s so difficult to win.
Let’s set aside the most obvious reason players lose — the rake. I’ve seen data that says at least two-thirds of players would lose even if there wasn’t any rake. This certainly makes sense to me. In tournaments, of course, chips aren’t taken out of the pot, but the best two or three players at the table are often the only profitable ones at the end of the night. Poker isn’t and never has been a game where the top half win and the bottom half lose. The rake is a very serious obstacle to a professional player’s success, but it’s not the biggest reason that it’s hard to win at poker.
What is? I don’t claim to have the definitive answer. There are a myriad of reasons why poker is a difficult game to master, and one could formulate many strong theories about why people don’t win at it, but I believe the phenomenon is best explained by something I’ll call the Self-Assessment Paradox. My argument goes like this: Properly rating one’s own poker skills is a hugely important quality for a poker player. If you think you’re better than you are, you’ll almost certainly play over your head and get crushed.
Conversely, if you correctly determine that you’re not a very good poker player, you may never take up the game seriously or get the requisite experience at reasonable stakes to become a good player. Since no one is good when they start out, this latter hypothetical becomes a very real possibility. In short, people with the best psychological makeup to become good poker players are the least likely people to take up the game. And vice versa.
Those who buck the trend and become long-term winners tend to fall into one of three categories. 1) A person with no ego who starts out at small stakes and climbs the ladder only when his skill has improved enough to justify it. 2) A person who gets very lucky early in his career, and develops the skill of self-assessment before his early winnings run out. 3) A persistent die-hard who fights through months or even years of being a losing player until he eventually develops his skills enough to become a winner.
At the risk of coming across as bragging (although can one really brag about being humble?), I think of myself as the first kind of player. When I was a beginner, and I stunk, I knew that I stunk. In fact, when I turned 21 and played casino poker for the first time, I got destroyed and vowed never to play again. I was sure it was a losing proposition, and I hated losing far more than I enjoyed playing. Throughout my career, I’ve stayed nearly as cautious as I was then, at least in my unwillingness to overrate myself. I’ve been very reluctant to move up stakes, and to this day I avoid the nosebleed games the superstars play. I’m confident these decisions have been good for my bankroll.
A lot of the online wunderkinds will admit that they’re the second type of winner — the type who starts out on a hot streak and learns the game after the fact. Some of these players will go further and admit that if they hadn’t run good during their initial sessions, they probably would’ve quit the game after only a few weeks. Those beneficiaries of this early success who eventually take the time to acquire the necessary poker fundamentals become extremely tough players indeed. They’re completely fearless (you would be too if you turned $100 into a six-figure bankroll without ever having to reload) in a way that most other successful players aren’t. Everyone has downswings, of course, but players who start on a hot streak often have the bankroll to ride them out.
The professional grinder who stays with poker despite a lengthy initial period of losing, is the rarest and maybe the most admirable type of winner. A losing player must either change his mind about his own abilities, or swallow his ego and drop down in stakes. Human beings are terrible at changing their minds, and even worse at swallowing their pride, which is why not many people go this route. If a losing player does manage to clearly see the flaws in his game, he still has to overcome the trauma of losing real money while trying to learn his craft. Many otherwise level-headed people will drive themselves insane as they watch one well-crafted strategy after another fail before their eyes. One of the ways poker professionals cope with losing is to look at our lifetime results and remind ourselves that we are winners in the long run. Losing players don’t have this luxury. They press on out of something like blind faith, or maybe just love of the game. I know some high-stakes tournament regulars who fit into this category, and they do especially well against other regulars who haven’t bothered to notice that they’ve improved. In poker, it’s best never to underestimate anyone.
Nobody can expect to get rich off this game right off the bat, and the people who understand this know enough not to try. But if you work hard, and if you move up at a reasonable pace, and if you’re honest with yourself about your strengths and weaknesses, you may someday find a large number of overconfident, under experienced players who are lining up to give you their money. ♠
Matt Matros is the author of The Making of a Poker Player, and a three-time WSOP bracelet winner.
[url=www-cardplayer-com/poker-news/16564-poker-strategy
Let’s set aside the most obvious reason players lose — the rake. I’ve seen data that says at least two-thirds of players would lose even if there wasn’t any rake. This certainly makes sense to me. In tournaments, of course, chips aren’t taken out of the pot, but the best two or three players at the table are often the only profitable ones at the end of the night. Poker isn’t and never has been a game where the top half win and the bottom half lose. The rake is a very serious obstacle to a professional player’s success, but it’s not the biggest reason that it’s hard to win at poker.
What is? I don’t claim to have the definitive answer. There are a myriad of reasons why poker is a difficult game to master, and one could formulate many strong theories about why people don’t win at it, but I believe the phenomenon is best explained by something I’ll call the Self-Assessment Paradox. My argument goes like this: Properly rating one’s own poker skills is a hugely important quality for a poker player. If you think you’re better than you are, you’ll almost certainly play over your head and get crushed.
Conversely, if you correctly determine that you’re not a very good poker player, you may never take up the game seriously or get the requisite experience at reasonable stakes to become a good player. Since no one is good when they start out, this latter hypothetical becomes a very real possibility. In short, people with the best psychological makeup to become good poker players are the least likely people to take up the game. And vice versa.
Those who buck the trend and become long-term winners tend to fall into one of three categories. 1) A person with no ego who starts out at small stakes and climbs the ladder only when his skill has improved enough to justify it. 2) A person who gets very lucky early in his career, and develops the skill of self-assessment before his early winnings run out. 3) A persistent die-hard who fights through months or even years of being a losing player until he eventually develops his skills enough to become a winner.
At the risk of coming across as bragging (although can one really brag about being humble?), I think of myself as the first kind of player. When I was a beginner, and I stunk, I knew that I stunk. In fact, when I turned 21 and played casino poker for the first time, I got destroyed and vowed never to play again. I was sure it was a losing proposition, and I hated losing far more than I enjoyed playing. Throughout my career, I’ve stayed nearly as cautious as I was then, at least in my unwillingness to overrate myself. I’ve been very reluctant to move up stakes, and to this day I avoid the nosebleed games the superstars play. I’m confident these decisions have been good for my bankroll.
A lot of the online wunderkinds will admit that they’re the second type of winner — the type who starts out on a hot streak and learns the game after the fact. Some of these players will go further and admit that if they hadn’t run good during their initial sessions, they probably would’ve quit the game after only a few weeks. Those beneficiaries of this early success who eventually take the time to acquire the necessary poker fundamentals become extremely tough players indeed. They’re completely fearless (you would be too if you turned $100 into a six-figure bankroll without ever having to reload) in a way that most other successful players aren’t. Everyone has downswings, of course, but players who start on a hot streak often have the bankroll to ride them out.
The professional grinder who stays with poker despite a lengthy initial period of losing, is the rarest and maybe the most admirable type of winner. A losing player must either change his mind about his own abilities, or swallow his ego and drop down in stakes. Human beings are terrible at changing their minds, and even worse at swallowing their pride, which is why not many people go this route. If a losing player does manage to clearly see the flaws in his game, he still has to overcome the trauma of losing real money while trying to learn his craft. Many otherwise level-headed people will drive themselves insane as they watch one well-crafted strategy after another fail before their eyes. One of the ways poker professionals cope with losing is to look at our lifetime results and remind ourselves that we are winners in the long run. Losing players don’t have this luxury. They press on out of something like blind faith, or maybe just love of the game. I know some high-stakes tournament regulars who fit into this category, and they do especially well against other regulars who haven’t bothered to notice that they’ve improved. In poker, it’s best never to underestimate anyone.
Nobody can expect to get rich off this game right off the bat, and the people who understand this know enough not to try. But if you work hard, and if you move up at a reasonable pace, and if you’re honest with yourself about your strengths and weaknesses, you may someday find a large number of overconfident, under experienced players who are lining up to give you their money. ♠
Matt Matros is the author of The Making of a Poker Player, and a three-time WSOP bracelet winner.
[url=www-cardplayer-com/poker-news/16564-poker-strategy
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Phil Ivey, considered one of the world’s greatest poker players, is set to launch his new Ivey League online poker training site at the end of January. According to Ivey, the site will teach online poker players how to go about the game in “the right way”, and will include downloadable video instruction with various learning stages, taught by the pro and his team. The Ivey team boasts several of the top names in the business, including Patrik Antonius, Dan Shak, James Dempsey and Jen Harmon.
To increase brand awareness for the new Ivey League site, Phil Ivey has paired up with televised sporting events. The first was Showtime’s ShoBox: The Next Generation boxing program which aired on Friday night. The event took place at the Cook Convention Center in Memphis and the Ivey League brand was prominent throughout the show.
The Chief Operating Officer of Ivey Poker, Clete McQuinn explained why the site chose to team up with ShoBox. “Phil is a big fan of boxing, but more importantly he is a fan of hard work, commitment, and dedication. That’s exactly what is needed when you step in the ring,” he said.
“Boxing, and particularly ShoBox: The New Generation, has a following that is similar to the growing worldwide poker population; especially those who want to learn to play poker from the best poker players in the world,” it was noted on Ivey Poker this weekend.
In his successful career, Phil Ivey has won 9 WSOP bracelets and one WPT title. His total winnings are nearly $18 million, with his biggest haul resulting from his seventh place finish in the 2009 WSOP Main Event when he collected over $1.4 million at his first final table appearance.
Phil Ivey Plans Online Poker Training Site Launch
To increase brand awareness for the new Ivey League site, Phil Ivey has paired up with televised sporting events. The first was Showtime’s ShoBox: The Next Generation boxing program which aired on Friday night. The event took place at the Cook Convention Center in Memphis and the Ivey League brand was prominent throughout the show.
The Chief Operating Officer of Ivey Poker, Clete McQuinn explained why the site chose to team up with ShoBox. “Phil is a big fan of boxing, but more importantly he is a fan of hard work, commitment, and dedication. That’s exactly what is needed when you step in the ring,” he said.
“Boxing, and particularly ShoBox: The New Generation, has a following that is similar to the growing worldwide poker population; especially those who want to learn to play poker from the best poker players in the world,” it was noted on Ivey Poker this weekend.
In his successful career, Phil Ivey has won 9 WSOP bracelets and one WPT title. His total winnings are nearly $18 million, with his biggest haul resulting from his seventh place finish in the 2009 WSOP Main Event when he collected over $1.4 million at his first final table appearance.
Phil Ivey Plans Online Poker Training Site Launch
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2006/12/07
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29893
In his song "The Gambler", Kenny Rogers sang about the secrets of winning at life or perhaps at playing cards.
Country and Western music is replete with the gambling theme; playing poker being one of the old and well established ways of moving money from losers to winners.
Poker is less about gambling than it is about knowing the rules of the game and playing the odds. So it is with investing.
The rules of the investment game are not absolutes like the rules of physics, chemistry or mathematics. Investment rules are true some or most of the time and sometimes they really miss the mark.
So here we are looking into the future -- trying to perceive what the New Year will bring investors in the stock market. Since 1950, the January barometer has been remarkably accurate. "Down" Januarys have been followed by a new or continued bear market, a 10% correction, or a flat year.
The average correction was down 13.9%. That's a pretty impressive record for any investor to ignore. The year 2014 will, of course, turn out however it does, but what has me concerned is that as of yesterday (Tuesday as I write this column) the market averages are all down for the month.
The NASDAQ is down 1.88%, the S&P 500 is down 3.02%, the Dow Jones is down 3.91% and the New York Stock Exchange Average is down 3.21%. Investors should also take note that the Federal Reserve has continued tapering; taking another $10 billion off of the stimulus program, and the market is reacting negatively.
So on Monday investors should be reviewing their portfolios and looking for ways to minimize their potential losses for 2014 if the January Barometer turns out to portend a down period directly ahead. What investors need to know is when to sell their holdings and move to cash. Investor's Business Daily runs periodic articles on investment strategies, including sell strategies. Here are a few of their key points for my readers**:
Cut your losses short, limiting your exposure on new purchases to just 8%. If you buy a stock and it falls 8%, sell it. Don't let it turn into a big loss.
Lock in your gains when you have made 20 to 25% over your purchase price. Don't get greedy, especially in a year that is supposed to be a down year.
Don't let gains of 10% or more turn into a loser. If a stock starts to break down, sell it and book your profits. Don't wait for a short term gain to become a long term gain solely for the potential tax advantage. That short term gain might turn into a long term loss.
Follow the moving averages of your stock prices. If a stock declines through the 50 day moving average, consider selling. Certainly if your stock falls below its 200 day moving average you should sell it. The trend is decidedly down if a stock moves below its 200 day moving average.
There are other strategy suggestions put forth by the folks at Investor's Business Daily and I suggest that if you are a stock investor you should consider using this great investor resource. One of the more peculiar sell rules they offer is to sell when a company's CEO makes the cover of a mainstream publication. Should we call this the swelled head rule?
Good portfolio management is not confined to finding and buying the great winners that the talking heads all make note about. Rather, it includes controlling the losers so that even middle-of-the-road performers can carry the day for your portfolio.
In the last bear market the market average as measured by the S&P 500 declined 49%. By effectively cutting our losses we limited the downside for our clients considerably for that year. Let's hope we don't have another 2008 staring us in the face, but if we do, let's know when to fold 'em: to sell and move to cash for a spell. A buying opportunity always seems to show up later.
State College, PA - Know When to Hold 'Em and Know When to Fold 'Em
Country and Western music is replete with the gambling theme; playing poker being one of the old and well established ways of moving money from losers to winners.
Poker is less about gambling than it is about knowing the rules of the game and playing the odds. So it is with investing.
The rules of the investment game are not absolutes like the rules of physics, chemistry or mathematics. Investment rules are true some or most of the time and sometimes they really miss the mark.
So here we are looking into the future -- trying to perceive what the New Year will bring investors in the stock market. Since 1950, the January barometer has been remarkably accurate. "Down" Januarys have been followed by a new or continued bear market, a 10% correction, or a flat year.
The average correction was down 13.9%. That's a pretty impressive record for any investor to ignore. The year 2014 will, of course, turn out however it does, but what has me concerned is that as of yesterday (Tuesday as I write this column) the market averages are all down for the month.
The NASDAQ is down 1.88%, the S&P 500 is down 3.02%, the Dow Jones is down 3.91% and the New York Stock Exchange Average is down 3.21%. Investors should also take note that the Federal Reserve has continued tapering; taking another $10 billion off of the stimulus program, and the market is reacting negatively.
So on Monday investors should be reviewing their portfolios and looking for ways to minimize their potential losses for 2014 if the January Barometer turns out to portend a down period directly ahead. What investors need to know is when to sell their holdings and move to cash. Investor's Business Daily runs periodic articles on investment strategies, including sell strategies. Here are a few of their key points for my readers**:
Cut your losses short, limiting your exposure on new purchases to just 8%. If you buy a stock and it falls 8%, sell it. Don't let it turn into a big loss.
Lock in your gains when you have made 20 to 25% over your purchase price. Don't get greedy, especially in a year that is supposed to be a down year.
Don't let gains of 10% or more turn into a loser. If a stock starts to break down, sell it and book your profits. Don't wait for a short term gain to become a long term gain solely for the potential tax advantage. That short term gain might turn into a long term loss.
Follow the moving averages of your stock prices. If a stock declines through the 50 day moving average, consider selling. Certainly if your stock falls below its 200 day moving average you should sell it. The trend is decidedly down if a stock moves below its 200 day moving average.
There are other strategy suggestions put forth by the folks at Investor's Business Daily and I suggest that if you are a stock investor you should consider using this great investor resource. One of the more peculiar sell rules they offer is to sell when a company's CEO makes the cover of a mainstream publication. Should we call this the swelled head rule?
Good portfolio management is not confined to finding and buying the great winners that the talking heads all make note about. Rather, it includes controlling the losers so that even middle-of-the-road performers can carry the day for your portfolio.
In the last bear market the market average as measured by the S&P 500 declined 49%. By effectively cutting our losses we limited the downside for our clients considerably for that year. Let's hope we don't have another 2008 staring us in the face, but if we do, let's know when to fold 'em: to sell and move to cash for a spell. A buying opportunity always seems to show up later.
State College, PA - Know When to Hold 'Em and Know When to Fold 'Em
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2006/12/07
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29893
So you've reached a certain comfort level playing online at partypoker, but your future brother-in-law's bachelor party at The Borgata will be highlighted by a private table in the best poker room in A.C.
Here are 3 key things to keep in mind:
1) Listen to the dealer. They’re there to help make the table run smoothly and hopefully they’re good at their job! They will tell you when the blinds go up, when the antes come in, who’s turn it is to act and lots more little things that will make your life easier. Be polite to them.
2) Keep your chips stacked so that they make sense to you. You want to be able to tell how much you have in your stack without having to count out every single chip, each time. Don’t have a ‘dirty stack’. This is when you mix up the different denominations of chips, all together. It makes it hard for you to know how much you have and it’s also not fair to the rest of the table. And keep your largest chips out in front, no hiding them behind a stack of antes.
Have You Heard?
Our Sunday $50K Gtd is new and improved. The lemony freshness starts with a guaranteed 1st prize of $10,000 and the start time moved up 3 hours to 5pm ET!
3) Verbalize your actions before you make them. When first playing live, it is very easy to make mistakes with the chips. If you mean to raise but only throw one chip in and don’t actually SAY raise, the it will be ruled a call. Also, saying what you mean to do will stop you from making mistakes with the chips. If you say “raise to 1000” and accidentally throw in 10,000 in chips, you’re safe because it’s what you SAY that counts.
Playing poker live? Pro player Kara Scott has 3 tips for you | NJ-com
Here are 3 key things to keep in mind:
1) Listen to the dealer. They’re there to help make the table run smoothly and hopefully they’re good at their job! They will tell you when the blinds go up, when the antes come in, who’s turn it is to act and lots more little things that will make your life easier. Be polite to them.
2) Keep your chips stacked so that they make sense to you. You want to be able to tell how much you have in your stack without having to count out every single chip, each time. Don’t have a ‘dirty stack’. This is when you mix up the different denominations of chips, all together. It makes it hard for you to know how much you have and it’s also not fair to the rest of the table. And keep your largest chips out in front, no hiding them behind a stack of antes.
Have You Heard?
Our Sunday $50K Gtd is new and improved. The lemony freshness starts with a guaranteed 1st prize of $10,000 and the start time moved up 3 hours to 5pm ET!
3) Verbalize your actions before you make them. When first playing live, it is very easy to make mistakes with the chips. If you mean to raise but only throw one chip in and don’t actually SAY raise, the it will be ruled a call. Also, saying what you mean to do will stop you from making mistakes with the chips. If you say “raise to 1000” and accidentally throw in 10,000 in chips, you’re safe because it’s what you SAY that counts.
Playing poker live? Pro player Kara Scott has 3 tips for you | NJ-com
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2006/12/07
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As we approach the one year anniversary of licensed online poker in the US (ok, we still have a couple months to go) there are still a lot of unanswered questions regarding how online poker will shake out, but we’ve also started see some cold hard truths.
Below, I’ve listed seven lessons we’ve learned during the first year of regulated US online poker.
1) Poker players always expect too much
The poker world of 2014 reminds me of Sherman from the American Pie movies; they’re full of bravado but they are simply shooting too high with their expectations.
Yes, online poker has been around for 15 years, and all sorts of advancements have been made in that time, but licensed online poker in the US is essentially a new beginning for Internet gaming providers.
The product may look the same and act the same, but it’s not the same, and we have to let the sites and the regulators experiment and work things out.
This is their electric car so to speak, and we have to expect that the first models that roll off the assembly line aren’t going to be perfect.
Demanding perfection is all fine and good, but you do have to give these companies a chance.
2) Regulated online poker brings money into local economies
In addition to the licensing fees and tax revenue online poker will generate, there are also other influxes of cash into the local economy via marketing efforts and even secondary and tertiary revenue streams.
A perfect example of this is PartyPoker’s deal with the New Jersey Devils and Philadelphia 76ers, but there are also the less public ad buys on websites and billboards and the hiring of employees in a wide range of fields.
It’s easy to quantify the actual online gaming revenue figures, but don’t discount the money paid to local (online) newspapers and businesses, or the ancillary jobs created, or the revenue streams from the gamblers themselves.
3) Legalizing online poker will not cause the universe to implode
After reading anti-gambling op-eds over the years, I had assumed that the 2012 Mayan prophecy was delayed because statehouses were slow to pass and rollout their online gambling.
But here we are, in February of 2014 (2014!) with three states offering online poker tables, and still no apocalypse? What gives?
Apparently online gambling isn’t going to end the universe. Kids still go to school, parents still go to work, and the streets are not lined with drugs, prostitution, and Internet gambling halls.
But fear not doomsday preppers, I’m sure in the year 2054, when the 52nd state, Guam, is looking to pass an online poker bill, the cybernetic head of Sheldon Adelson will still be prophesying horrors straight out of the end times if online poker is allowed to gain a foothold in the South Pacific.
4) Most people don’t care about online gambling
Some numbers:
There are roughly 8.7 million people living in New Jersey, and there are about 200,000 accounts at online gambling sites.
Let’s just assume that three times that number are sympathetic to online gambling for one reason or another, that still leaves over 7 million people who don’t gamble online and aren’t politically inclined to support it.
So where is the opposition?
Thus far, at least to my knowledge, there haven’t been any Occupy Borgata movements formed, or sit-ins in Trenton, so my initial hunch seems to have been correct all along:
Your average everyday citizen of New Jersey could care less if online gambling is legal or illegal.
Sure, there are avid supporters and rabid opponents, but by and large people just don’t care; a statement I can back up now that online poker is legal and the only people decrying it (what about the children!) are the same people that were railing against it before.
Everyone else is just going on with their lives.
5) There are still a lot of bugs to be worked out with regulated sites
From geolocation to payment processing, the online poker providers in the US market are learning that despite their experience in the industry, there are still a lot of wrinkles that need to be ironed out in a licensed market.
Working with regulators means entirely new procedures and rules (which vary from locale to locale) and entirely new problems in each place.
6) There are reasons to be pessimistic about the future of regulated online poker
It hasn’t been all sunshine and puppies so far, as the launch of licensed online poker has been beset by pitfalls ranging from technical glitches to the aforementioned payment processing issues to unenthusiastic traffic and revenue numbers.
It also seems like a lot of other states are now pumping the brakes on their own online gambling movements, preferring to let things play out in Nevada and New Jersey before making their own decisions on the matter.
7) But there are reasons to be optimistic as well
That being said, it’s hard to categorize New Jersey’s online gambling launch as anything but a success, and while I wouldn’t be quick to select up Nevada or Delaware as a poster child for “what is possible through online gambling,” there are still plenty of positive attributes to point out.
If I was a pro-online gambling advocate in some other state there are plenty of upsides that can be cited, and it appears that the industry is only going to grow stronger and smoother in the future.
Regulated US Online Poker Turns One - What Have We Learned?
Below, I’ve listed seven lessons we’ve learned during the first year of regulated US online poker.
1) Poker players always expect too much
The poker world of 2014 reminds me of Sherman from the American Pie movies; they’re full of bravado but they are simply shooting too high with their expectations.
Yes, online poker has been around for 15 years, and all sorts of advancements have been made in that time, but licensed online poker in the US is essentially a new beginning for Internet gaming providers.
The product may look the same and act the same, but it’s not the same, and we have to let the sites and the regulators experiment and work things out.
This is their electric car so to speak, and we have to expect that the first models that roll off the assembly line aren’t going to be perfect.
Demanding perfection is all fine and good, but you do have to give these companies a chance.
2) Regulated online poker brings money into local economies
In addition to the licensing fees and tax revenue online poker will generate, there are also other influxes of cash into the local economy via marketing efforts and even secondary and tertiary revenue streams.
A perfect example of this is PartyPoker’s deal with the New Jersey Devils and Philadelphia 76ers, but there are also the less public ad buys on websites and billboards and the hiring of employees in a wide range of fields.
It’s easy to quantify the actual online gaming revenue figures, but don’t discount the money paid to local (online) newspapers and businesses, or the ancillary jobs created, or the revenue streams from the gamblers themselves.
3) Legalizing online poker will not cause the universe to implode
After reading anti-gambling op-eds over the years, I had assumed that the 2012 Mayan prophecy was delayed because statehouses were slow to pass and rollout their online gambling.
But here we are, in February of 2014 (2014!) with three states offering online poker tables, and still no apocalypse? What gives?
Apparently online gambling isn’t going to end the universe. Kids still go to school, parents still go to work, and the streets are not lined with drugs, prostitution, and Internet gambling halls.
But fear not doomsday preppers, I’m sure in the year 2054, when the 52nd state, Guam, is looking to pass an online poker bill, the cybernetic head of Sheldon Adelson will still be prophesying horrors straight out of the end times if online poker is allowed to gain a foothold in the South Pacific.
4) Most people don’t care about online gambling
Some numbers:
There are roughly 8.7 million people living in New Jersey, and there are about 200,000 accounts at online gambling sites.
Let’s just assume that three times that number are sympathetic to online gambling for one reason or another, that still leaves over 7 million people who don’t gamble online and aren’t politically inclined to support it.
So where is the opposition?
Thus far, at least to my knowledge, there haven’t been any Occupy Borgata movements formed, or sit-ins in Trenton, so my initial hunch seems to have been correct all along:
Your average everyday citizen of New Jersey could care less if online gambling is legal or illegal.
Sure, there are avid supporters and rabid opponents, but by and large people just don’t care; a statement I can back up now that online poker is legal and the only people decrying it (what about the children!) are the same people that were railing against it before.
Everyone else is just going on with their lives.
5) There are still a lot of bugs to be worked out with regulated sites
From geolocation to payment processing, the online poker providers in the US market are learning that despite their experience in the industry, there are still a lot of wrinkles that need to be ironed out in a licensed market.
Working with regulators means entirely new procedures and rules (which vary from locale to locale) and entirely new problems in each place.
6) There are reasons to be pessimistic about the future of regulated online poker
It hasn’t been all sunshine and puppies so far, as the launch of licensed online poker has been beset by pitfalls ranging from technical glitches to the aforementioned payment processing issues to unenthusiastic traffic and revenue numbers.
It also seems like a lot of other states are now pumping the brakes on their own online gambling movements, preferring to let things play out in Nevada and New Jersey before making their own decisions on the matter.
7) But there are reasons to be optimistic as well
That being said, it’s hard to categorize New Jersey’s online gambling launch as anything but a success, and while I wouldn’t be quick to select up Nevada or Delaware as a poster child for “what is possible through online gambling,” there are still plenty of positive attributes to point out.
If I was a pro-online gambling advocate in some other state there are plenty of upsides that can be cited, and it appears that the industry is only going to grow stronger and smoother in the future.
Regulated US Online Poker Turns One - What Have We Learned?
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