Poker is a game that involves a significant amount of skill, but is often perceived as a pure game of chance. It is a great way to improve analytical, mathematical and interpersonal skills while also challenging your own beliefs and decisions. In addition, it has been shown to have cognitive benefits for the players.
During a poker game, each player is dealt 2 cards and then 5 community cards are dealt. A round of betting is then conducted. Each player can call (put in a bet) or fold (reject the bet). Once every player has made their decision, the final card is dealt (“the River”).
Knowing your opponent’s range is a crucial aspect of making smart calls in poker. Knowing how to calculate frequencies for the different hands allows you to understand what your opponents are likely to hold, and if they are bluffing or not.
A good poker player knows when to fold and is able to handle the disappointment of losing a hand. They will not chase a loss or throw a fit, but will instead learn from the experience and move on. This is a great skill to develop, as it can translate into other aspects of life, including financial, business and personal decisions.
To be an elite poker player, you must be able to make good calls under uncertainty. That is why we recommend that all our students keep a poker journal. This helps them internalize the key calculations and build intuition that will allow them to make better decisions on the fly at the poker table.