How to make money

This should be a simple question, but I'm not sure it is: Where do your poker profits come from?

The easiest answer is "other players." Sklansky, Miller et all like to talk about how poker is a game of profiting off of other people, making their loss your gain. That much is obvious.

Most profits come from fish. Good players are naturally harder to play against, and most of anyone's winnings are going to come from bad players.

But how do bad players give away money? Even the worst players know the rules of the game and are familiar with starting hands and when to lay down a hopeless hand.

There are several ways fish give away money. The primary source of winnings is preflop. I understand and respect how postflop play is the difference between a good and mediocre player, but I believe the most common and expensive mistakes are made preflop.

A player who sees the flop on 50 percent of the hands he is dealt is going to lose money. It's inevitable. They lose money when they limp with hands they shouldn't, and then it becomes more expensive when they have to call preflop raises and reraises.

Perhaps more expensive than that is when a shit hand like Kx offsuit hits and the player feels like he has to call the hand down to the river.

Postflop play is also important -- and more difficult -- because many players are not that loose preflop. Against these opponents, value betting marginal hands, bluffing, calling down and laying down at the right times becomes critical.

The point is that you don't make money in poker by knowing the basics. Profits come from taking advantage of betting mistakes as the hand progresses.

Poker is all about betting. If your read is correct that you have the best hand, you will win.

Of course, there are some times when checking and slow-playing are appropriate when you have the best hand.

But most winnings come from people who call your bets when they shouldn't.

Link:
Bill Fillmaff, Chapter 2