If you are an avid poker player but would also like to partake in the fun and entertaining business of wagering on sporting events, then buckle up and read on.
I have played online poker for over 10 years now. I am no expert on the rails, but I can hold my own when I am in the mood, and my frame of mind is open to patience & discipline. The same can be said of individuals that bet on sports with the sole intention of earning a profit.
Poker can be divided into two separate and distinct categories. Cash games and tournaments. I like to classify these two categories as being synonomous with wagering on sports in the sense that cash games are equivalent to making individual bets, while tournaments are much like pools in the sports betting arena.
In cash poker games, it is imperative that patience and discipline be maintained while carefully observing your opponents at the table to establish personality profiles and behavioural tendencies. The main advantage for an intelligent cash game player is that the blinds never increase, thus allowing the disciplined and patient person the ability to pick their spots, take down pots when opportunity presents itself, and guard their bankrolls the remainder of the time.
The same methodology can be used effectively when wagering on sports. The end goal is to establish a plan of action where your mindset is to achieve gradual long term success (patience and discipline), your bet amounts do not fluctuate (no blind increases), and guard your bankroll for the duration by never over extending your wagers, in other words, never place more than 4 bets on any given day in any one sport. Remember, it is imperative to keep your losing days small, while patiently waiting for winning streaks to appear and run their course.
We can now move on to the similarities inherent with poker tournaments and sports pools. Just as you purchase a set amount of chips prior to entering a poker tournament with a field of other players, so does a poolie who purchases an up front entry to an entire season of selections.
Their are a variety of types of poker tournaments and numerous forms of sports pools. You may want to join a pool that pits the players against point spreads or simply picking winners straight up. You may want to manage a team of drafted players in a fantasy pool where each week you are faced with the challenges of starting and sitting players, making mindful decisions regarding match ups, and controlling money management issues that have a direct impact on your rosters.
Poker tournaments and sports pools have the added advantage of less financial risk with the potential for more financial gain. They also provide greater entertainment as poker tournaments are a battle of attrition, much like sports pools, where every game for the entire season provides meaning, and the element of chance becomes ever more apparent as the tournaments and pools draw to a close.
In conclusion, the correlations between these two different breeds of gaming are ever present, and hopefully, will assist poker players who are interested in branching into the world of sports betting and pools, and vice versa.