Karina Jett

The next time you come to Vegas or login to Full Tilt Poker and sit into a low or mid-stakes game, you might find me or my husband Chip at the table. When I play live, I do so for some pretty low stakes. I’ve got no problem playing $2-$5 No-Limit Hold ‘em. Chip prefers mixed games, but you won’t find him in the $50/$100 game. Middle stakes are more his speed.

Some people I play with in the $2-$5 games ask me why I bother with the low stakes. I’m a professional poker player and have been for some time, so why not play higher? The answer I give is simple. I’m looking to maximize my profits and play in a game where I have a huge skill advantage and am certain to be a big favorite.

That’s not to say that I haven’t played higher. When we first met, Chip and I were traveling the tournament circuit, living out of hotels and playing the biggest games our bankrolls would allow. I played mostly Limit Hold ‘em, and would sit in games where I could easily win or lose a few thousand a night.

Then a couple of years ago, Chip and I started a family. As you’d expect, things changed. We settled in Vegas and kept our travel to a minimum. The change in circumstances also effected our game selection. We needed to play in games where the income was pretty steady and the swings weren’t so dramatic.

For a family-oriented poker player like myself, $2-$5 No-Limit is just fine. I can make the money I need without putting a whole lot at risk. These games may not have the same drama as the larger stakes games where the amount won and lost in individual pots could pay for a nice luxury car, but they provide plenty of entertainment and excitement just the same. What’s more, by playing at lower levels than your bankroll allows, you can easily absorb the occasional bad beat or bad night.

Playing low-limit poker doesn’t mean you’re sitting in action-free games either. In fact, these games can provide even more action than you’ll find at the higher limits because they attract many more casual players who are just out for an evening of fun and are looking to “gamble” a little more at the table. For these people, losing a buy-in or two is the price of a night out.

There’s no shame playing for lower stakes than you think you can afford. If playing high causes you stress or is taking money away from other priorities in your life, then try dropping down the ladder and playing at levels where your skill advantage will help you build a more comfortable bankroll for the future.

Ben Roberts

If you’ve ever sat at a poker table, you’ve invariably heard the questions asked in the title of this article. While all serious players believe poker is a game of skill, they don’t always agree on how skillful a game it really is. Some people believe the skill to luck ratio falls at somewhere around 70% – 30%, while others argue that the ratio is closer to 90% – 10%. If you ask me, however, I’ll tell you something you won’t hear from almost anybody else. Poker is 100% skillful.

Now, I know many of you are already skeptical about how I can make this kind of claim. What about bad beats? Or the times you’re out-drawn on the river? How can I not figure these kinds of situations into my thinking? The fact is, I already have. Variance is part of poker and it would be highly unusual if bad beats didn’t occasionally happen or if two-outers didn’t sometimes hit on the river, as this would defy the laws of probability. The fact is, these kinds of events should have less of an impact on your overall results the more you play.

If you only play a few hands or a few hours of poker at a time, luck will undoubtedly play a bigger factor in your results than if you play regularly. For example, let’s look at a player who puts in eight hours a day, five days a week, for 50 weeks per year, which is equivalent to 2,000 hours at the table. Assuming this is a solid, smart player who doesn’t vary his or her stakes throughout the course of the year, I believe their talent will outweigh the effect of luck to ensure that they produce positive results year after year. That’s not to say this player won’t run into the occasional rough patch or have losing sessions, but by sticking to their game plan, these occasional down-turns shouldn’t adversely affect their bottom line.

In effect, all players get paid for every good decision that they make and penalized for their bad ones. By continuously making high-quality decisions over the course of so many hours, skillful players should make more good decisions than bad, and see their bankrolls grow as a result. I have done this for more than 33 years, and know many other professional players who have produced similar results for many years. What this shows me is that, over the long haul, luck is not only insignificant when it comes to your results – it’s non-existent.