Unfortunately for good poker players they are tarnished by the negative image that most media and none poker players hold. Even if you describe your excellent grasp of online poker strategy to them the fear of the gambling side of the game means you are fighting a tough battle trying to convince “none believers” that poker is like an other investment vehicle with a little more luck involved. You are categorised as a reckless gambler, which is unfair to many sensible poker players.
There are those that would disagree with my last statement entirely. But it is true that whenever money is invested in something tangible like a house or abstract like stocks or shares the chance of disaster in losing the money does exist to varying degrees. As a poker writer I watch my friends who talk about their one million pound property portfolio like it is a statement of status and then when you question them on it you find out they display all the bankroll management of an addicted gambler. They juggle debt on a tight rope and invest in ways I would never gamble.
Whilst I have won and lost vast sums of money playing online poker I have never had to repay one million pounds to creditors. Wannabe property magnates almost always have this debt (when I say investors I mean those who have mortgages not rich people who buy property with their money). They also rely on payments from third parties in order to survive. I would rather rely on my own skill than tenants to dictate my standard of living then if I go bust it is down to me and not contract breaching tenants. Poker and property investment have a lot of similarities and for every sensible property investor there is a sensible poker player. It is a fact, however, that a property investor who loses money can blame the market but the gambler who loses money can only blame themselves. But who said it does not take guts and steel to be a poker player?
Please do not think that I am bashing property investment. I worked in property rental for many years and saw with my own eyes lots of irresponsibility in property investing not normally attributed to property investors and I would just like to see more people understand that investing is gambling. People admire property investors mainly because they have the money to afford two or more houses. What is true is that they have the wealth to persuade the banks to lend them money to buy the property! Poker players have liquid cash wealth which in the current economic conditions is something I personally prefer.
You will know by now that I am a passionate advocate of sensible bankroll management in any form of investing. Poker in particular carries risk. You must manage the risk factor very carefully when luck has a part to play in results. In other forms of investment the luck factor can be minimised largely through sensible research. Unfortunately in poker we fight lady luck on a daily basis and part of pokers skill is managing luck although that does sound like a gamblers cliché.
There is no justification for reckless gambling as that is a bad thing in any part of life. I believe that people can play poker and be in control. I have seen many people I know make a real positive difference in their life (this author included) by enjoying the benefits that online poker can bring to you. Just be sure that you always play by the rules of common sense and bankroll management and, of course, work hard to improve your poker game. Sometimes you may want to go mad and gamble, but if this is a regular urge for you then online poker strategy is not the only thing you need to learn. Discipline, emotional control and perspective needs to be top of the list as well.
Combine good poker with good mental control and you are well on the way to becoming a force at all poker tables.
By Malcolm Clarke
