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Texas Holdem Strategy: Know When to Say "When" (Page 1 of 2)

The difference between walking away a winner and going broke chasing your losses is knowing when to walk away. Many poker players, even skilled, experienced players have dealt with this problem. It takes discipline to get up and leave the table. Some signs that it may be time to “take the money and run” (I just love the classics) include:

1. The players at the table have changed and you are not winning as consistently as you were.

There is a saying that there is at least one sucker at every poker table. If you look around and can’t identify who they are, it’s you. If you’ve driven all of the fish away from your table and you aren’t winning as often or as much, don’t be afraid to get up and try your luck at another table. If you’re being out-played, you’re being out-played. You want to be the shark (or barracuda, at least), not the fish.

2.You’ve lost your focus.

Believe it or not, playing poker can be an exhausting endeavor. While physically sedentary, it’s very emotionally and mentally draining to constantly try to remain aware of shifting player dynamics during hours of play. It wears at you. There are literally dozens of studies that show concentration, focus, and decision making ability all suffer with prolonged periods of stress and exhaustion. We need to acknowledge it when, for whatever reason, we just aren’t at our best.

4. There’s little or no money to be made.

Winning poker is only possible when there is a good mix of aggressive and conservative players at the table. Sometimes you will find yourself in a situation when it seems everyone at the table, including you, is a “rock”. When that happens, the pots are likely to be smaller, with less action. Rocks as a rule are tight-aggressive. They’re not going to play too many speculative hands, and they’re certainly not going to give you action without a strong hand. A table full of maniacs is just as bad, in a different way. If everyone is being super-aggressive, poker soon takes on the semblance of a lottery. There’s much more opportunity to lose than to win.

5. You have made a reasonable profit on the session.

You need to keep track of your stack in relation to the other players’ and also in relation to the total chips at the table. At a certain point the ratio of risk:reward gets turned against you. It may seem counter-intuitive, but being a massive chip leader is a difficult circumstance to master. The reason is that your perception of risk can get skewed and distorted by the size of your stack. If you’ve been playing well and have built up your stack to 3,4 or even 5 times your starting stack, you will be a huge force at the table. Even if other players have re-bought, you are likely to have at least a 2:1 chip advantage over the average stack at your table. If you become “drunk with power” you could start pushing with hands you should fold. For the same reason, watch your stack’s ratio to the total chips at the table. If you have over half the chips in play you really can’t advance your cause too much. At that point you are potentially risking your large stack to win a portion of a much smaller one.

Learn Casino Craps – Professional Craps Player? Nonsense!

Is there such a thing as a professional craps player? That’s the wrong question. You should ask if there’s such as thing as a successful professional craps player (the key word is “successful”). Plainly and simply, the answer is no. It’s statistically impossible for a player to win over the long-term. The game is stacked against the player in favor of the casino.

Knowing the player cannot, and will not, win over the long-term, we find that the question of whether there’s such as thing as a successful professional craps player is also the wrong question. In fact, using the word “professional” invalidates the question. Dictionary.com defines “professional” as following an occupation as a means of livelihood or gain. Since it’s statistically impossible for the player to win over the long-term, the player cannot possible use the game of craps as a means of livelihood or gain. In other words, if you play long enough, you’ll lose all your money. Therefore, the term “professional” cannot apply legitimately to the game of craps.

I’ve read articles that suggest a key to being a successful craps player is to play only for short periods of time because prolonged periods of play increase your loss potential. That’s just plain nutty. The law of odds doesn’t know whether you’re playing short or long sessions. Instead, it’s like one long, drawn-out session over time. The relatively short interruptions (e.g., eating, sleeping, working, going to the bathroom) are meaningless over the long term. The law of odds knows that statistics are in the casino’s favor and that the player will eventually lose. Playing for short or long periods does nothing to affect the eventual outcome. However, playing short sessions does, indeed, extend the inevitable. Instead of going broke quickly by playing long sessions, you’ll go broke more slowly by playing short sessions.

Is it sinking in yet? Craps is gambling. Gambling means you’ll lose over the long-term. Don’t be blinded by hopes and dreams of quitting your boring, dead-end job and making millions beating the casino. When you hear or read about someone making a successful living by playing craps, walk away or close the book because they’re about feed you a load of crap (pun intended) or sell you something you certainly don’t want.

Knowledgeable craps players who understand the math accept the fact that they’re going to lose. They play simply for the fun and excitement that craps offers. Interaction with other players and the range of emotion from losing to suddenly winning (and winning to suddenly losing) are what drive the knowledgeable player. The knowledgeable player doesn’t expect to win. She hopes to win, but doesn’t expect it. If she gets lucky and wins during a particular session, then that’s great. But she knows she’ll probably lose the next session. We play solely for entertainment, not to make a living.

Learn the game and gain confidence in the fact that there’s no such thing as a winning craps system. Understand and accept the fact that there’s no such thing as a dice-control artist (i.e., supposedly, someone who can control the outcome of a dice roll by using specific sets of throwing skills). If you’re going to play craps, play for the fun of it and no other reason. Otherwise, you’ll be disappointed when you eventually lose.

Although there’s no statistical way to win over the long-term, there are, indeed, ways to get the most out of your gambling bankroll. Because you can prolong the inevitable, you can stand at the table longer, which means your fun will last longer. Remember, you should play craps for entertainment because it’s so much fun, not because you want to get rich off the casino. So, how do you prolong the inevitable? How do you maximize your fun and excitement without spending a fortune? That’s the subject of another article.