Rewards and Risk In Poker

Balance is very significant in playing poker. You should know if a reward is worth it if the risk involve is so high. Sometimes an excellent reward came with a very high and dangerous risk, so you need to think twice before making a decision. Take this two examples in mind:

Example 1 - A well-to-do man came over you and offer you $1,000,000 to play Russian roulette for him. He hands over a six chamber gun. Will you accept it?

A million is good enough for you in order not to work anymore and still live affluently. But getting it through this method is insane I know you have a big chance of winning it but what about 1 out 6 chances of you ending up dead just because you agreed with the man? Is it worth it?

Example 2 - You won the lottery and you took five million dollars. The same man propose that he’s going to give you $10,000,000, if its head in flip the coin game. If its tails then you’ll give him $5,000,000.

At this example you’re offered very high odds. 50% chance to win $10 million dollars. However, you also had 50% chance of losing $5 million dollars to the same man. I think if the rich man offered a lesser amount of money as bet, you could have tried your luck into this. But an all or nothing situation like this does not attract better individuals.

The above examples are far too extreme to be applied in poker but it has some points that agree with the game. For example giving up a chance of winning because of the odds in the rewards.

Here’s one good example:

If you got a free roll in a world tournament and end up being short in chips and a person away from the bubble, then its time for you to make a decision that will be advantageous for you. You can make the money and get a considerable $50,000. You have been also informed that someone have beeb eliminated. And if you lose this certain hand, you’ll end up with no money because you have lesser chips than the other players.

At this particular hand you have a hole card of Aces. If you fold your hand you’ll win $50,000; if you play and lose you’ll get nothing and if you play and win you’ll get the blinds, or times two or three of the blind.

The situation here is that, even if you win and triple your winnings you are still down and there’s a little chance that you can gain a boost up to the money ladder of the tournament. This is enough to justify the risk you’re taking of losing $50,000.

Your knowledge of EV is not enough to justify risking everything you have in order to gain the reward. Before making any decision think about it twice before finalizing it.

Think about the examples mentioned above when you are in the tournament. Always think that there will be another chance, a better one, for you to move up and win good money in the game.