Online poker has recently become the target of people who believe it’s their job to protect us from ourselves. They talk about families ruined and the need to protect the children. I find it funny that most of these people participate and advocate another business that’s just as risky, if not more, as online poker. You can even do it online…. and it’s much easier to put money into than any poker site. So what am I talking about? You’ve probably heard of it; it’s called the stock market.

Recently I’ve been studying the basics of the market as I start to look for ways to have some of my poker winnings make me money even after I take them out of the game. The more I learned the more parallels I found between the stock market and poker. In both bankroll management is one of the most important traits of a winner. Just like a poker player getting in over his head an investor will soon be broke if he puts all his eggs in one basket.

With stocks you need to do all your homework on companies you will potentially buy into. Just like you’re not going to win long term by calling because “I knew my gut shot was coming on the river” you’re not going to make money by playing baseless hunches in the market. Even after all the research is done and you’re 100% sure you’ve found a profitable stock there is still a big chance you will lose your money. This is no different than getting all in as a 70% favorite in holdem. Sure, you’re going to make money on the play but 30% of the time you lose it all.

This blog entry by Mark Cuban (one of my personal heroes) sums it up nicely. Compare this famous Rounders Quote to one found in Cuban’s entry:

“Listen, here’s the thing. If you can’t spot the sucker in your first half hour at the table, then you ARE the sucker.”

“If you are going to trade stocks, you just have to follow one rule and remember one thing. That rule is always have a definite knowledge advantage about the company you are trading, and always remember that every stock transaction has a sucker, and you have to know whether it’s you or the person on the other side of the trade. No one buys a stock from your, or sells one to you knowing they are leaving money on the table.”

This just goes to show how hypocritical our society can be. If you took someone with no prior biases on the two there would be no way they tell which was “gambling” and which was “smart investing”. I bet the average American could make a higher ROI (return on investment) given a short SNG lesson than they could with the stock market. The number of families ruined from investments gone bad massively out numbers those destroyed by gambling. But poker is still under attack and those same people throwing the stones tell their children the importance of investing in the market.

I’m not trying to bash the stock market, but we need to call it what it is. No different than poker, the stock market is a game of small edges. You do your homework, get a read on the situations, and when you’re ahead you put your money in the middle and pray to come out on top. I feel sorry for all the people who are led to believe the can make money with no effort. Instead of making money for themselves they just end up lining the pockets of fund managers and brokerage firms. I’m just lucky that gambling has allowed me to see through the pile of BS, I know I’ll be very successful in the stock market because of it.

By Ryan Carter

When I tell someone about my professional poker career they are always jealous of the lifestyle I live. To someone working a 9-5 the amount of freedom a pro gambler has sounds like paradise compared to their boring ass job. The truth is, if poker somehow became a 9-5 and I was forced to choose between the complete freedom or the game I love, I would choose the game in a heart beat.

I gamble because it gets my blood pumping. I still get the same adrenaline rush every time I launch a huge bluff, and it’s hard to keep a smile from my face when I trap some sucker into giving me his stack with a garbage hand. The challenge of out thinking my opponents while constantly controlling my emotions keeps the daily grind fresh and exciting. While the freedom is great I wouldn’t trade the mental stimulation I get from poker for anything.

My personal philosophy has always been; if I’m not doing something every day that truly excites me I need to fix that ASAP. There are a million ways to make money in this world, so there is no reason you can’t be doing something that pays the bills as well as gets you pumped to wake up each morning. Look up and you will see this site’s slogan: “Always Bluff: For People Who Take Risks”. To live the Always Bluff lifestyle you don’t have to be a professional gambler. You just need to be willing to “take a shot” at something you truly desire even if there is a little risk and uncertainty involved.

Many people thought I was crazy for dropping everything to play poker for a living. If I hadn’t I would be stuck in some lame job, not getting any work done because I was day dreaming about the life I have now. I would have spent my whole life thinking about what could have been, and that would have been a great human tragedy. If you’re life isn’t everything you want it to be I suggest you do something about that immediately. Trust me; the rewards are well worth the gamble.