Money and chips are not the currency of success in poker. It's true, you can't play- except in Free rolls-without money. Yet, the currency of success in poker remains your willingness and the wisdom you use to risk. For example, Mimi Rodgers was recently playing in a Bay 101 event in San Jose. She was being taunted by the legendary brat of all times-Phil Hellmuth. After all, Ms. Rodgers was up against a WSOP champion. So, did he really need to put her on tilt to beat her? If so, it didn't work.
He was talking to Mrs. Kensington from Austin Powers: International Man of Mystery. She's an actress, Phil, ease up. Yet, she didn't back down. She just said "Yeah? Come on and play." She was no stranger to taking risks. She ended up whipping the brat in his own game when she beat him with an ace-high spade flush.
People who play poker and fail to take risks don't usually do well in poker or in life. Life is based on risks from driving on the highway to calling when chances are you have a "second best hand." The key is the rewards for your risks. With a car it's getting there without having to walk-sooner and safer. At the poker table it's the pot odds and winning large pots.
I am always interested in what other players do for a living and how successful they are in life when not playing poker. It tells me how successful they have been in taking risks and their willingness to risk in the game of poker. Many have been successful in their businesses and personal lives because of their willingness to take risks. It's a risk to start your own business. Yet, you can enjoy the rewards of a better life style than you can in most fixed jobs. When talking about the risk of playing poker, Mimi Rogers said, "The professional risks I've taken are scarier and ultimately more impactful." Being a calculated risk-taker is a key in life and in poker. The important word is calculated. Some players have this skill of being able to recognize the moment when you should take a risk and when the risk is not worth the reward. Other players, like calling stations, seem never to calculate their risks-they will call a barking dog off of a porch.
It also takes degrees of risking to be successful at bluffing in poker. Risking a bluff becomes an art in poker. It's dependent on how much it's worth to bluff and how safe it is too. For example, if you have very little respect and haven't shown much strength, it's not a good time to bluff. This is particularly true if your opponent is not capable of folding. As I mentioned in my book, Beyond Bluffs, it's next to impossible to bluff a fool. In lower limit games where many players are known to play no fold'em hold'em, a bluff is sure to get one or several calls.
Raising is another way to risk in poker. Aggressive players will raise with strong hands. This yields two ways to win. You may have the best hand or your opponent may fold. Passive playing is low risk and usually the only way of winning is having the best hand in a showdown.
You can risk smart or risk stupid. For example, it's not a good idea to just call the "river." If you have the best hand, it's time to bet or raise. If you have the worse hand, it's time to fold.
How you use your chips is the real currency of poker. For instance, raising before the flop is another calculated risk that comes with rewards from limiting your competition to concealing the strength of your weak hands. Such pre-flop raises can put you more in control of the betting. Besides taking the temperature of your opponents' hands, these pre-flop raises may even result in stealing the blinds.
