Poker is a game of incomplete information, where players compete for an amount of chips contributed by other players (called the pot). Players make decisions under pressure by using a combination of their own 2 cards and 5 community cards. A strong strategy involves betting, bluffing and reading the opponents. It also involves understanding the game’s rules and your own personal strengths and weaknesses.
Just like in business and life, confidence is a critical skill for success. Being able to weigh up your chances will give you the edge, even when you have a lower hand than your opponent. A confident poker player can get themselves through a rough patch, just as an entrepreneur or athlete can use self-belief to overcome setbacks.
Experienced poker players understand that it’s a marathon, not a meter sprint. They’re able to take a step back and assess their situation without being consumed by the desire to win the next hand. They know when to quit and walk away with a lesson learned. They know that by chasing their losses, they could lose more than they can monetarily afford to handle.