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A player wearing a three-piece suit sits down at the table, and you recognize him as a Nobel Prize winner in biophysics. Should you fear him? If he makes a bet and tries to avoid eye contact with you, is he bluffing?
Answer
TWO PAIR
You’re playing seven-card stud, and you’re dealt three aces right off the bat. You play the hand aggressively and end up losing to a straight flush, costing yourself $400 in the hand. Should you have played the hand?
Answer
THREE-OF-A-KIND
If there’s $500 in the total pot and you had contributed $200, would you call a $100 bet? How about if only $50 of the money in the pot was yours?
Answer
STRAIGHT
If eight people play in the same poker game at a casino every day, how many will end up winners at the end of the year? Who is likely to be the biggest winner?
Answer
FLUSH
How much of a bankroll do you need to play $15-$30 limit poker for a year?
Answer
FULL HOUSE
If a poker casino earns $5 million a year and wants to sell the business, how much is it worth on the open market?
Answer
FOUR-OF-A-KIND
If an opponent bets $20, and there is $100 in the pot and two more rounds of betting, should you call a $20 bet if your odds of winning are seven to one?
Answer
ROYAL FLUSH
If Dinkin and Gitomer know so much about poker, why aren’t they in Las Vegas playing against world champions every day instead of writing books?
Answer
The Final Hand
Try playing poker by yourself, and see if you can make any money. It’s impossible, because poker, like business, is a game of people. Perhaps poker’s greatest lesson is that you have to see things through the eyes of others. When you take the time to walk in the shoes of your partners, customers, and competitors, you can figure out what they want. Once you can do that, it becomes much easier to get what you want.
The Poker MBA is my World Series of Poker. If you read it and it improves your business and your life, I’ll feel like a champion.
Odds are that you’ll be able to find me at the World Series of Poker in Las Vegas every year. Come track me down and tell me how the lessons you’ve learned from this book have contributed to your success in business. If you prefer to write, send an e-mail to greg@ventureliterary.com
Here’s hoping that you get called when you have the winner; that you don’t when you are bluffing; and that all your cards get dealt fairly–in poker, in business, and in life.
© The Poker MBA 2002
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