Poker is a game of skill where the decisions made by players are based on probability, psychology and strategy. It is also a great way to develop self-awareness by learning to read the emotions of other players at the table, such as anger or frustration.
Depending on the rules of the game, one or more players are required to place an initial amount of money into the pot before cards are dealt. These are called forced bets and come in the form of antes, blinds or bring-ins. Players then have the option to ‘Call’ the bet, ‘Raise’ or ‘Fold’. A player will typically call a bet when they think their hand has a chance of winning or when they want to keep the action going. They will raise a bet when they believe their opponent is bluffing or when they have better cards than their own. Lastly, they will fold when their hand is poor and they don’t want to risk losing any more money.
One of the main goals of a good poker player is to extract the maximum value from their winning hands and minimise losses from their losing hands. This is known as MinMax (Minimum Losses – Maximising Wins). Experienced poker players will review their previous hands in detail, not just the ones that went bad but also those that went well so they can work out a range of possible hands that their opponents could have and how likely it is that these hands would beat their own.