March 25, 2011

'Nuff Said (v. 1.1)—Cash Plays

“Most of us young kids who play at nosebleed stakes don’t really have any clear idea about the actual value of the money we win or lose. Most of us see the money more as a points system. And because we’re all competitive, we want to have the highest score. But really, we don’t know what making $400,000 or losing $800,000 means, because we don’t have families or whatever. This blind spot gives us the freedom to always make the right move, regardless of the amount at stake, because our judgment isn’t clouded by any possible ramifications.”

—Daniel "jungleman12" Cates (quoted by Jay Kang in "Online Poker's Big Winner", New York Times Magazine (March 25, 2011).

One of the major adjustments I have to make anytime I play poker in Vegas is to take into account that $100 bills play, something unheard of in Midwestern poker rooms. Chips are easy for most people to put into the pot, since chips aren't regarded as money in as direct a manner as cash (part of the psychological bag of tricks employed by all casinos). But when $100 bills get thrown into the mix, particularly against inexperienced players, it's easy to notice the players who stop thinking, "I'm getting great odds for this call," but instead start thinking, "Wow! That's my car payment!"

Those folks ought to just slide me their chips and head for the clubs. Bottle service will be a cheaper and more productive use of their time.

3 comments:

  1. When I first started playing in the casinos, I was afraid of losing money. especially in the NL games. I found if I played in a tournament, I was more aggressive and played better because I had already "paid" the money (entry fee) - there was nothing left to lose, so to speak.

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