Archive for May, 2014

Protecting Your Winnings: 6 Safety Tips

Wednesday, May 14th, 2014

Have you heard horror stories about poker players winning large sums of money and having it stolen? This happens both online and in live games, and while it is rare, it’s something that you should protect yourself against. Here are six tips to help keep your winnings safe.

1. Keep Private Information Private. No one should know your password or how you fund your online accounts. Even your personal information used as routine security checks by poker and online wallet sites should be kept as private as possible. No one should ever ask for your information from a poker site unless you have contacted them first, if you see someone asking for it in a chat box, ignore it.

2. Don’t Play on Shady Sites. The most common way for players to lose their money is to play on some unknown site with a small player base. When they go to cash out their money is either seized for some obscure rule or takes months or years to finally receive. Stick to the well-known sites with good reputations, check out the editor’s picks on the PokerTips homepage.

3. You Can’t Cheat at Poker. If you are a struggling player, you might come across a tempting offer to cheat on online poker sites. You’re only human, it’ll probably be tempting, but know that online sites these days are very secure and if someone could cheat they wouldn’t be telling anybody. These typically turn out to be scams or viruses that will try to harvest your information.

4. Don’t Loan Money to Other Players. While there are probably a few legitimate reasons to do so, there are also many scammers online who will try to take advantage of your generosity. If you send money to beggars online, you aren’t likely to get it back.

5. Use an RSA Token. Most major sites offer RSA token authentication for a miniscule cost, even certain e-wallets do too. These tokens generate a one-time password as needed when you log-in to your poker account. This makes it virtually impossible for someone to hack into your account and steal your money. As you accumulate more winnings in your account, this is more important.

6. Don’t Click Links in Emails. Phishing emails are one of the most common attempts at theft out there. People can create emails that look almost identical to the ones your poker room sends you. They include a link to a site that looks legitimate, but isn’t, and try to either infect your computer or get you to type in your password. If you ever need to contact support based on an email, type in the website yourself or search for it on Google.

Don’t let online theft deter you from playing online poker, just keep a watchful eye on the security of your accounts. If you follow these six tips you are very unlikely to ever have any problems protecting your winnings.

Understand Your Emotions, Don’t Ignore Them

Saturday, May 10th, 2014

It’s no secret that the best players rarely tilt, they know how to play their best, or at least close to it nearly all the time. The mistake that many make when observing the elite of the poker world is thinking that the best players simply shut down their emotions. This short post will hopefully help you shift your paradigm of the role of emotions in poker to a more successful one.

The Consequences of Shutting Down Emotions at the Table

The misunderstanding comes from viewing good players as robots, and robots as we know them have no emotions. There’s one huge problem with shutting down your emotions, which is that you can’t selectively turn off anger or frustration. When you turn off your emotions, or perhaps putting them on mute temporarily is more appropriate, you also turn off the passion and enjoyment that is driving your play.

The consequence of muting your emotions tend to be that you lose interest at the table, lose focus, put less thought into decisions and care less. People are motivated by emotions at a deep level, and it’s not something that’s going to change.

The Solution: Understanding

poker psychology understanding emotions

Image via Flickr by deltaMike

The goal of eliminating anger and frustration is still desirable, but it’s clear that simply becoming ‘dead’ at the table isn’t the answer because we simply need our emotions too much. Logic dictates that we must find ways to control certain emotions or selectively eliminate them.

Psychologists have long known the benefits of understanding your thinking and the resulting emotions, in fact there is a whole field of psychology dedicated to it called cognitive therapy. Many top players have personal psychologists to help them delve into the thoughts they have at the table.

While you may not be able to afford your own personal psychologist, you can apply many basic techniques and get great results at the table. Start by making note of your thoughts leading up to an episode of anger or frustration. After a while you’ll start seeing patterns and will be able to walk away from the game before you do any serious damage.

Secondly, you can start to change how you think so that you don’t get angry. For example, if you suffer a bad beat and think something along the lines of “they hit their card EVERY SINGLE TIME!”, you need to spend time thinking about the long term results and maybe even learning about statistics. For this specific example you could grab a deck and set up this situation and play it out several dozen times. Even though sometimes the villain will hit their outs a few times in a row, over time it will even out. The more you accept and understand these things, the less you will find yourself getting frustrated during a game.

Understanding and controlling your emotions in a positive way is one of the most difficult things to do in poker. Don’t expect to become Gandhi over night, just make continuous improvements that result in better play in the long term.

The Kryptonite of Online Poker Players: Casino Games

Tuesday, May 6th, 2014

It’s no secret that casino games and poker go hand in hand, both in the real world and online. In fact, Full Tilt poker has recently signed an agreement to bring casino games to their platform, as many other major sites have already done. Even great poker players have a desire to gamble, and just like putting poker tables near slot machines, casino games online make it really easy to play. The problem is that many winning players lose their winnings playing slots, blackjack, baccarat, roulette and other fun gambling games.

The Problem with Gambling

blackjack casino game

Image via Flickr by Images_of_Money

The distinction of gambling is important when it comes to casinos. Poker is a game of skill where you are playing against other players, but not the house. All other casino games however do not allow you to gain an edge over other players, and they are mathematically set-up to favor the house. Some games like blackjack you can approach parity, but even optimal play will still cause you to lose in the long run.

On top of the fact that casino games are designed for you to lose money, they are also designed to allow you to lose a lot of money fast. The amount you can bet in a single poker hand is limited to what you have on the table, which is an amount you should be able to afford to lose. If you go to a blackjack table however, especially online, it’s usually possible to bring your entire bankroll to the table and theoretically bet it all at once if you wanted to.

The final issue, as you may have observed in poker, is that people get extremely frustrated when it comes to events of chance. If someone hits a few draws on you in poker, you might even go on tilt. Now imagine what happens when you’re playing blackjack and three or four hands in a row go against you, which is fairly common. If you happen to tilt at a blackjack table, you can practically kiss your bankroll goodbye. This happens time and time again to even solid winning poker players.

How to Deal with Casino Games

The ideal situation is to avoid them altogether, but as more of the major sites like Full Tilt poker incorporate them, this option is more difficult. Most poker clients allow you to go into settings and hide the casino games, which is the best option.

But what if you enjoy to gamble? As in, not to win money, you just like to flip a few coins or spin a wheel once in a while. The solution is to open an account on a separate site that offers casino games. Deposit a small bankroll of money you are prepared to lose and treat that as your recreation. It’s important not to confuse your poker bankroll that has all your winnings in it and your recreational bankroll that you have funded to play around with.

As long as you are a poker player you will be exposed to casino games. It’s important to keep your discipline and keep any recreational gambling separate from your poker activities to achieve long term success.

Poker is Coming to Crimea in a Big Way

Friday, May 2nd, 2014

Russia is a country where gambling and online poker is in jeopardy, but there are some interesting proposals for the latest Russian acquisition, Crimea.

This is far from a politics blog so I will skimp on the political acquisition of Crimea by Russian President Vladimir Putin, and however questionable it may have been, it is now an interesting new area.

When Putin puts his mind to something, he usually gets what he wants, and recently he has drawn up a draft law to allow a new casino to be built and operated in Crimea

Now that the study about a new gambling zone in Crimea has shown encouraging potential, Russian President Vladimir Putin has decided to present a draft law that will allow Crimea’s authorities to choose a location for a new casino.

For the economically torn nation, this could help a tremendous amount. There are international investors lining up to be involved in this project that is set to make over 10,000 jobs, a substantial boost for the weak regional economy. The starting date of the casino has not been names however, and could take a while before it is open to the public.

An interesting part of the design plan is that it is intended to be a major tourist attraction, and more than just a casino. The plan is for it to be a year-round resort, which is why major companies are interested in getting in on the ground floor. This casino plan extends far past just poker and casino games, and is intended to be the start of a revolution in the area.

Most casinos traditionally have some funding from a country’s government, but because of the substantial interest from outside investors, it’s likely that no government intervention will be needed. In fact over $1.5 billion has already been secured for the project.

Here’s where it gets exciting for poker players, the head of the Russian Association for the Development of the Gambling Industry, Samoil Binder, has recently said, “We will have to organize sports events like the world [poker] championship in Las Vegas.” More major tournaments to watch and play in can only be good for the global poker scene.

Russia has very few existing designated gambling zones, which would make a newly renovated Crimea a major attraction. The growth and development of the region will be exciting to watch in the years to come.