Online Poker Tips – Treating Poker As You Would Run a Business

Here are some simple online poker tips which will help increase your winnings. You must treat playing online poker as you would running your own business. Its funny to see people who work 60 hour weeks running their own company, watching costs, making disciplined decisions on a daily basis, finding solutions to increase productivity and then they play poker in the total opposite way giving total disregard to what makes them a very good business person.

What I mean by this is, they go home after work and play some poker, but at the same time they have the TV blaring in the background, are browsing the internet and have the latest lady gaga video pumping out of You Tube. There’s is no way that this person will make money playing poker in the long run.

If you compare it to what the successful business person does during the day while running their company, then it is obvious. They would not be preparing for an important sales meeting with a TV on in the background in their office. They would not be producing profit and loss statements with the radio banging out tunes. Therefore it makes perfect sense that when you play poker that you give 100% concentration to that task. This means TV off, no one talking to you and the children are gone to bed or in a separate room. Otherwise you will end up making costly mistakes or missing valuable plus EV spots that you fail to capitalise on.

Another comparison to a successful business person is working capital. This is liquid assets available for use in the production of further assets. To make money at poker you must have working capital, in other words a poker bankroll. This bankroll must be kept separate from your personal bank account. You would not take money from your business account to fund your new couch for your living room. Same applies to poker. If you do need to withdraw some cash from your poker bankroll, then define it well ahead of time. Say that every 2 months you will take X amount of money out as long as it does not reduce your working capital to less than it was 2 months previous.

However the plus side to reinvesting your working capital when it comes to poker is that you can now move up stakes when you are properly bankrolled for the next level. This in turn leads to greater profits and a greater return on investments. When deciding what working capital you need you must evaluate what level of poker you can beat first and foremost and then evaluate if your bankroll can withstand an extreme downswing. An extreme downswing in my eyes would be 50 buy ins. If you find you are playing ‘scared money’ then you should move down levels immediately until you are comfortable with losing X amount of dollars in a session, build up a larger poker bankroll and then move back up in levels.

As you can see from the above, treating your poker like a business by using just the two tips advised, will instantaneously see increases in your win rates.