Can Poker or Bridge Improve Your Skills?

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If you have read Warren Buffet's or Charlie Munger's biographies, you know that Warren plays bridge and Charlie played poker. They claimed that these games helped hone their investment skills and brains.

When I heard this, I tried online penny poker and couldn’t stand it. I don’t want to waste the time needed to play and become reasonably proficient at it. Bridge requires interactions with some people, and often, I’m more of a solitary risk taker.

So, I started to look at penny online betting to help improve my understanding of probabilities and the fact that it is helpful to walk away most of the time from an investment.

For example, I have been following the Detroit Lions for many years. We had season tickets at the old Pontiac and, for a few years, at the new Ford Field. So when the Lions play, I am emotionally driven to bet on them. The problem is that this is an emotional, not probability, bet, as we learn from the honeybees.

Today (October 27), the Lions are such a favourite that a $1 bet results in a $1.14 return. It’s a significant risk for very little return. I’m not making that bet. Yesterday, Michigan State was playing Michigan in its annual battle. I am a Michigan State Alumni, so I am emotionally driven to bet on them. I had initially bet my maximum of $1 but quickly changed it to 20 cents. It was a fair bet and within the probability of having fun with no issues should they lose which they did.

My pot of about $28.00 is the maximum I have to play with. It is like my life in the betting game, if you will. So if I bet it all on a game and lose, I am finished for this year, which is breaking one of the key rules of investing like a honeybee: survival.

Playing this online game for pennies is teaching my brain to think of decisions in a probability way. We can never be sure that a stock or property investment will be successful. It’s up to us to understand the probability, including some luck thrown in. Penny betting on sports is my way of training my brain. Bridge, Poker, online penny betting or some other game may be helpful. Just make sure if you have any issues with addiction that you stay away from this idea. These strategies aren’t for you.

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