There is a huge difference between learning a key poker concept and mastering it on the tables. With chips on the line, book knowledge is put to the test— with your grade determined in dollars, not letters.
When reading about poker concepts, they are understood at the cognitive level. While playing the game, you feel it. When both occur, the skill becomes integrated into your poker repertoire. The lesson sticks. How to get there? A lot of reading, grinding, and (unfortunately) frequent trips to the ATM.
This distinction nicely parallels real life, non-poker, insights and gains. An example: A person can have an intellectual understanding that their messed up childhood has somehow impacted their adult struggles. But realistically, grasping this connection cognitively is just a starting point. To genuinely move on, emotional insight is needed. This happens when emotions are experienced and connected to one’s life. It’s not easy work. Similar to a bad poker run, it can be emotionally, even financially taxing (e.g., therapy is not free). But research and theory suggest both are needed for real change to occur.
I’ve had this happen to me frequently, in life and in poker. Poker is the easier story. I’ll start there. After all, this is Blind Straddle not “O” Magazine.
Enter Fold Equity:
I read about this key poker concept in different books and training videos. I grasped it at an intellectual level. I could see the relevance to aggressive, winning poker. But I struggled with the lesson at the tables. In too many hands, I remained a consistent, predictable calling station. With more play, I finally got it. To do so, I had to gain more experience and simplify the concept. I needed the “Dummies Guide” to fold equity. As I couldn’t find that book, I made my own guide. I realized that if my game was based on consistently calling bets, I had just one chance of winning: best hand, post river. Gaining fold equity, through betting and raising, added promising, money generating outcomes to my game.
Raising more pots, instead of being the predicable calling station, gave me two chances: Having the best hand or forcing a fold. Perhaps it’s an overly simplified view, but it worked and helped with the paper to felt learning curve.
Being a psychologist, I also thought about the off the felt implications. There are many. If you are not consistently aggressive in life and have fold equity in your play, taking down big pots is difficult. You might win if you “outlast” the other guy and have the best hand (e.g., a promising job, new relationship, etc.). But that’s a lot of “Ifs.” The opportunities are numbered. It’s a weak, passive, calling station approach to living. You are letting life come to you, not seeking it out.
If you play your life cards aggressively you increase your chances of winning. Go ask for a raise, go talk to the girl, chase your dream. You gain fold equity with your daily moves (at work, home, and relationships). Doing so makes others figure out their decisions based on what you bring to the table. The kicker? You still get the same opportunities that come your way more naturally, passively.
In life, just like poker, you want to cash in and take advantage of all possible opportunities. Of course, you won’t always score the big win. There are no guaranteed winners in life or poker. You just want the best chances of good things happening.
Keep fold equity in mind and they just might.
Aaron Rochlen, Ph.D. is a Licensed Psychologist and Associate Professor in Counseling Psychology at the University of Texas. While not at work, in Vegas, or discovering new poker-life parallels, he spends time with his wife and two young children.
