Poker is a card game where players bet with chips. Each player is dealt two cards face down and a fifth card is revealed on the turn (‘The River’). The aim is to make the best five-card hand using your own cards and the community cards. Depending on the rules, you may have to bet all your chips at some point in the betting interval (the ‘pot’).
Professional players can extract signal from noise across many channels and integrate information to exploit their opponents. They also have a range of methods to misinform their opponents about the value of their hands.
A common strategy is to maximise winnings and minimise losses. To do this you need to make the most of your good hands, and to bluff when necessary. This is a process called “MinMax”. A good example of this is a poker player who bets big when they have a good hand, but when they don’t win their opponent might call them and lose even more money.
Similarly in life, being confident can get you through a job interview ahead of someone with a stronger CV, but it won’t be enough to keep you at the top. You need to balance confidence with a well-weighted plan for minimising losses and maximising profits. The best way to do this is to use your knowledge of the game, your competition and your own strengths to create a unique approach that fits you.
