In the past decade, there has been a financialization of poker. The popularity of poker has skyrocketed because of some factors:
1) The introduction of online gambling
2) Television and Film
3) Books and Magazines
But regardless of what the reason is, they all tend to advertise the life of a professional poker player. When you go on to an online poker website, such as Pokerstars.net, the motto of the site is “play like the pros.” When you watch the World Series of Poker on ESPN, they focus on the pros and their earnings. And when you read ‘How to’ books, it also talks about how the professionals play poker.
Because of these many reasons, people now want to pursue a career in poker. In recent years, people have been viewing poker no longer as a game but as a career in investment. An article from Marketstockwatch.com, discusses how poker and stock market investing is similar.
“Many factors run parallel with the game of poker and the game of stock market investing. Luck may play a part but rules, odds and money management are the largest components of the two entities.”
Whether in poker or stocks, players/investors must consider the odds of his/her stock making a gain or making a loss. In poker, if you’re dealt a hand and you know your probably not going to win, there is no need for you to throw in any more money. Same goes for stocks. If you make an initial investment, but you happened to be wrong, there is no need for you to keep your stocks. Thinking as an investor or business man, you’re better off with a small loss and waiting for another opportunity, rather than losing everything.
The article even states: “investing in the stock market and playing poker relates directly to cutting losses short (capital preservation and money management) and my odds of winning the game (in the stock market this could be called expectancy).”
This is why so many people are now viewing poker as a career in investment. They know that, just like in poker, with the proper money management and calculated expectancy, they should be able to get in situations where the odds are in his/her favor.
