The game of poker is not only about understanding the ranking of hands in a pack of cards. Essentially, it is an interesting psychological warfare that is very similar to the high end business deals. Have you ever asked yourself why it appears that some people always win more in poker even though they may not have the best cards at all? In most cases, such players are not mere gamers but competent negotiators too. In this article, we’ll explore how to play poker like a negotiator will and use negotiating skills to your advantage.
Information Is Power
To be successful in negotiations one has to invest a lot of time trying to understand who they are dealing with, and what drives such people. Most importantly, effective negotiators use their eyes more than their mouths. In poker games, observations provide data. One should pay attention to every move made by others as this will help gather information about hands. For each playing session keep a close watch on opponents and see how they play under various circumstances such as before and after seeing the flop or when turn/river cards are revealed; then change your game depending on theirs.
Know Your Position, Know Your Leverage
Leverage is a concept that negotiators are well aware of. One’s ability to be aggressive is determined by understanding your own strengths, weaknesses and your walk-away options. The position of the dealer button determines your leverage when playing poker. Being in the last position allows you to have a look at other players’ moves and then make decisions based on this information – it’s called a significant information advantage.
Strategic Misdirection
Despite the fact that honesty is very important, negotiators at times use strategic ambiguity or focus on some aspects and not others to make their position stronger. This is all about being in control of the story. To bluff isn’t just making blind positive expectations but rather taking risks in line with the plot under consideration. Well-directed bluffs are aimed at particular enemies who, as you think, will easily give up under pressure.
Knowing When To Fold (Or Walk Away)
Inferior negotiators do not realize when a deal is wrong. They cannot hesitate to back out in case of unfavorable terms. Patience is key to making good deals and playing winning hands in poker. Similarly, one’s pride can be very expensive if they lack patience. Discipline is characterized by following through with one’s initial plan, looking after his finances properly and most importantly, keeping control over his own feelings so that they won’t drive him into making a wrong move known as “tilt”.
Evaluating the Deal (Pot Odds)
Businesses evaluate possible risks and gains first before engaging in any negotiation. Risk-to-reward evaluation is a common practice among poker players as well, which they do using pot odds as well as implied odds. Learn how to calculate simple pot odds. Take a look at the ratio between the size of the pot and what you need to put in it, and compare it with your probability of hitting the winning hand. Be sure that you make a call only when offered good pot odds.
Conclusion
Applying negotiation skills changes poker into an interesting game that goes beyond fun. This makes one play it with a lot of sense; taking note of every move made. So when you go back to play on PokerCircle again, remember not only about your cards. Watch your rivals, think over where you stand, make sure you are logical enough, and be able to understand when it’s better to give up – isn’t this exactly like in negotiations?
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