Embracing Probabilities

I think the hardest thing for the non-experienced player to understand about poker is the concept that you can lose when you make the right play. So many people have come up to me and said (in essence) "Poker has to be all luck because I was watching a final table on TV and this guy was always ahead when the money went in and he end up in last place." And certainly that is true, often times the player who plays the best is not rewarded. Its seems to go against the meritocracy concept the US is said to embrace.

The thing is poker is all about the concept of probabilities. And probabilities is a concept that seems clear on the surface. If you flip a coin there is a 50% chance that it'll be tails. But the more you burrow into the deep underpinnings of future predicting, it become problematic to many people. Such as the fact that if you flip a coin 20 times in a row and it turns up heads every time, what are the chances that it will be heads on the 21st time? Same as before: 50%. So #1, probabilities are independent events. But at the same time, if you flip that coin 10,000 times, by the laws of math, it'll be heads 5,000 times almost exactly. Wow.

I had a recent run in with the probability monster, actually three run ins. Last week, I get all my money in with pocket kings (about $700). I'm up against Ace-King. I lose to a straight. Three days later I get all my money in (about $1500) with pocket aces against King-King. I lose to a set of kings. Just the day before yesterday I get all my money in with King-King (about $900) versus Ace-Queen and Jack-Jack. I lose when an Ace hits the board. I'm not saying these occurrences aren't painful. They are (for a little while anyway). Poker is a streaky game as is the case for anything involving probabilities.

But the way to consider it is, I think, in terms of a master, lifetime list. When these situations come up, your going to win most of the time, but you are going to lose as well. In the case of the last scenario, you'll win 2 out of every three times AND when you win you'll be getting 2:1 on your money. No real gambler would ever pass that up. But you WILL lose one out of every three times as well. So when you lose, you need to put it into the loss list and forget about it. Its inevitable that it will happen. But probabilities are an immutable law of nature. In the end, you'll be a winning player.

Trust me.