Here’s a post that’s not entirely about online poker, but it is applicable for those who have had a big score in a tournament, cash game, inheritance, etc. You never know when it could happen to you.
Let’s say you just pocketed a big win in poker, or maybe you just earned a nice sales bonus at work. No matter the source of cash – whether it is $1,000 or $50,000 – you now have the option to invest in your future or blow it all in a week in Jamaica. Putting immediate gratification aside, and thinking about one day being financially independent, let’s take a look at some ways to cultivate your stash in some short term investments.
MONEY MARKET FUNDS
If you are looking for liquidity (the ease and quickness with which your investments can be converted back into cash) plus a slightly higher yield that you can get at your bank or credit union, money market funds might meet your needs.
Money market funds are a particular type of mutual fund that is required by law to invest in low-risk, short term securities. Money market shares can be bought or sold at any time. They often come with check writing privileges. Money market funds try to keep their net asset value at a constant $1 a share, so that only the yield goes up and down. They are generally successful at this. However, money market funds are not guaranteed by any agency.
PLO (Pot Limit Omaha) has become a phenomenon in the world of online poker. As players get tired of Texas Hold’em, they have slowly begun to transition into the Omaha games. Much of the popularity of Omaha stems from the constant high stakes games that can often be found at Full Tilt Poker. Some of the biggest names in the poker world can be found with hundreds of thousands of dollars at the Omaha tables. Texas Hold’em certainly remains very popular, especially in live games, but Omaha has gained a major following over the past few years.
There is a variety of reasons why Omaha has blown up. Some poker players like the gambling aspect that you will find in Omaha. There is a lot of gamble in any form of poker, but Omaha is notorious for the never ending coin flips and suck outs. Bad beats are a rarity in Omaha, if only because they are always expected. It is tough to get your money in as a big favorite in Omaha. Even if you start with a complete trash hand, there is usually a decent chance that you can and will catch up. Some players hate this added element, but other players crave the action.
Stealing and continuation betting are both fundamental plays in Texas Hold’em. Most players understand the function of a pre flop steal, and they also know how they should handle the flop.
When making a pre flop steal attempt, you are often going to brick the flop. Your hand will be practically useless at this point, so your goal is to determine how you can take down the pot. Since you have no showdown value, checking down the hand wouldn’t do you much good. Sometimes, though, you are going to flop a solid hand when you make a pre flop steal.
Slow playing is acceptable on occasion, but a flop bet can also be very effective. Players, especially in small and medium stakes games, know that other players are going to make continuation bets. If you play as they expect, it will be easy to exploit their counter moves. In the hand below you will see a situation where we attempt a pre flop steal, hit the flop, and then exploit our opponent.
For the diehard poker fan, playing poker is just not enough. You can learn a few tricks from television shows like the World Series of Poker (WSOP) on ESPN, World Poker Tour (ETP), High Stakes Poker and Poker After Dark. Any time you are watching people play hands of poker, there is something of value to learn, even if it is an amateur up against a poker professional. In a game where successful players are those who can figure out the thought processes of their opponents, poker on TV can be a virtual school which reveals the players’ mindset and leaves you to answer the question, “Why did they play a hand the way they did?” Here’s a run-down of televised poker shows to watch.
WORLD SERIES OF POKER
THE 2010 WSOP announced its 2010 schedule of 57 bracelet events to take place in 2010. This series will begin on May 27 and running until July 17. Poker players from around the world will travel to the Rio All Suites Hotel and Casino to participate in the largest tournament series of the year in search of the most coveted piece of jewelry in poker: the WSOP bracelet.
For 51 days the Pavilion Ballroom, along with the Amazon room, will be packed with players hoping to increase their bankrolls and bragging rights, as well as their Player of the Year standings. With the addition of the Pavilion Ballroom, there will be up to 20% more tables in action as WSOP officials hope to ease the capacity concerns from last year.
It is a great feeling when you make a big hand on the flop. It feels even better when your hand improves on the turn. But how does it feel when the river puts out a flush and a straight? What about when your opponent shoves their entire stack in the middle? At one point in the hand you were probably filled with elation, but by the end you are dazed and confused.
These are some of the windy roads that you will encounter as a poker player. It isn’t dodging the situation that is important, it is taking the detour that will really allow you to evade trouble. You can’t help it when the river brings an unfortunate card, but you can save yourself some money by making a good fold. Good folds are often going to be just as profitable as good calls. Poker players don’t equate folds to making money, but isn’t a penny saved a penny earned?
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