Saving, investing and making money with technology

Day: May 17, 2019

4 Strategies to Win Big in Online Poker

Online poker tournaments make competing easy for amateur players. You won’t have to drive far away from your home, and the buy-in is affordable for anyone. In 2003, Chris Moneymaker was the first person who qualified online to win the World Series of Poker (WSOP) Main Event. The entrance fee for the satellite tournament he entered was less than $100, and he got $2.5 million. Anyone can play poker, but you need to learn all the ins and outs of the game before you can win consistently. Here are some strategies to help you win big in online poker.

1. Be Prepared to Play for a While

Online tournaments often start with huge fields of players, and they can take several hours to complete. If an event starts in the evening, you should be prepared to play for most of the night. Make sure you can get plenty of sleep, and don’t schedule anything important on the day after a big tournament. You could need that time to sleep. Poker strategy is mostly mental, not physical, but staying fit, exercising, and eating healthy foods can give you more endurance than other players. You’ll be less likely to make mistakes because of fatigue.

2. Be Patient

Every poker player wants to stay in the game and try to win, but folding can be a much smarter decision. You should fold more hands than you play. That way, you won’t have to risk much of your bankroll without a good chance of winning. Playing is more exciting and entertaining, but you can learn how other players behave by observing hands after you fold. You can find out who bluffs most and whether players have tells by waiting patiently to see how several hands play out. That way, you can make the best decisions about whether to fold.

3. Make Sure You Have Some Extra Cash

In many online games, wealthy or successful players can call your raises with huge holdings, forcing you to fold. To avoid this, you should always have much more than the minimum buy-in available. For example, if the minimum is $20, you should have about $4,000 to keep wealthier players from beating you. Having some extra cash also lets you take a few losses and be prepared to come back during the next hand and win. Just make sure you don’t risk a lot until you bet some experience.

4. Use Poker Software

Many computer programs can help you analyze the behaviors of other players. Poker replayers let you replay a hand or an entire tournament to learn more about your opponents. Many programs can also color-code players based on their strength or provide a heads-up display (HUD) with detailed information. You can also take notes or use software to help you play multiple hands at once.

Starting as an online competitor can be challenging, but you can become a winner with smart strategies and practice. Concentrate, keep improving your skills, and remember to have lots of fun.

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Why Everyone Should Have Emergency Savings Put Aside

You’ve probably heard from money experts that everyone should have an emergency fund.    Far too many people rely on their credit cards or assume they can borrow money if they’re really in a pinch. However, having an emergency fund put aside is much more reliable than putting yourself into debt or burdening your family.

You should have at least a few months salary put aside to protect you and your family if things go sideways.  Here are some of the biggest reasons why you need to have an emergency fund put aside.

Job Loss

You never know when you or your spouse can suddenly find yourself unemployed.  Whether you’re injured on the job, or the company wants to make sudden layoffs.  In order to ensure that you can take care of your family, you should always have at least several months salary on deck.  

Putting enough money aside to have several months salary in savings may mean having to give up certain pleasures for a while.  However, the peace of mind knowing that you and your family is taken care of if you don’t have any money coming in is worth it.

Home Repairs

You never know what can happen when you own your own home.  A pipe can burst in a split second, or a tree could fall on your house.  As a homeowner, it’s up to you to cover the damages.

Usually, repairs don’t come cheap either. Therefore, having a significant amount of money aside is helpful to ensure that you can pay for the damages, whatever the price.

Car Troubles

Cars are tricky things.  One minute they’re running fine, and the next minute they’re breaking down on the side of the road.

You can never be sure when the car is going to let you down, regardless of how old it is. Having emergency savings means that you can pay for any unexpected repairs without worrying about going broke.

For many people, their car is essential for them to be able to go to work and take care of their family. Therefore it’s critical that if something comes up, you can fix it.

Medical Problems

No one wants to assume the worst can happen; however, things can come up suddenly with our health.  While insurance may cover some of the bills, it won’t cover everything.  Savings makes it possible to cover the medical costs for you or your loved ones should something serious happen to your health.

Unexpected Costs

Unexpected costs can come up when we least expect. Whether it’s last minute travel or having to replace a broken appliance.  Miscellaneous emergencies can happen at any moment. Your emergency fund is there to make sure that you’re covered.

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