In playing poker you should always weigh the balance between risk and reward. Sometimes the rewards are so tempting but the means to get it are so risky. You need to balance it out. Check out some simple examples of this thought below:
Example 1 - A very affluent man approach you and ask you to play a round of Russian roulette for him. He is offering you $1,000,000 just to play it.
One million is a very good reward in this game because you have 5 out of 6 chances that you'll get it. But one million is not good enough if you end up dead. Even 1 out of 6 chances of taking a bullet in your head is big enough reason not to take the offer of the rich man.
Example 2 - You're one lucky person 'coz you won $5,000,000 in the lottery. At this point the same man at example 1 challenge you to a coin flipping contest. If the coin toss results will be head then he will give you $10,000,00, double your money and if its a tail then you'll give him $5,000,000.
Ten million dollars is a big rewards but the risk that comes with it is so high. If the coin is flip and end up being tail then you lose the $5,000,000 that you should enjoy for the rest of your life. Think about it.
The above examples are far too extreme to be applied in poker but it has some points that agree with the game. For example giving up a chance of winning because of the odds in the rewards.
Here's one good example:
You're one fortunate person because you got a free entrance to the WSOP (World Series of Poker). You find yourself in a situation wherein you don't have enough chips in the table and you're also one player away from the bubble. If you'll make the money you'll get $50,000 - quiet a big amount for you. Another player has been eliminated from the tournament but if you lose the present hand you will be out of the money since you are short stack compared to the other player.
At this particular hand you have a hole card of Aces. If you fold your hand you'll win $50,000; if you play and lose you'll get nothing and if you play and win you'll get the blinds, or times two or three of the blind.
The thing is that even if you play and win the hand, you still have a little chance to move up on the tournament ladder. And also if you try to play then you'll also take the risk in losing $50,000.
There will be times like this wherein you'll have to weigh the risk involve even if the rewards are super high. Check out the odds of you, winning and losing. Sometimes the rewards is not worth the risk involve. So always think twice before you make any move.
Think about this, there are actually a time where you'll be given a hand that will bring forth more rewards to you. Live to fight for another day.
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