I’m convinced that there are two types of poker players. There are players who have little regard for money and will play outside of their bankroll, will be super loose with their cash, and who have no issue ordering expensive bottle service. Then there is the other type of poker player who is frugal, bordering on cheap. They penny pinch everything, don’t takes shots at the next limit often enough, and they are protective of every dollar they come across.
I want to talk to the players in the latter camp because frugality can come with a major price. There is nothing wrong with being protective with your money. As poker players, we require cash in order to play the game we love, and protecting those dollars makes sense. But when you become so protective that you pass up on opportunities to invest in yourself…you massively hurt yourself at the end of the day.
Investing in yourself means finding ways to invest your own improvement. In real life that could be therapy, life coaching, or even taking a day off of work to just play video games and reset your brain. In poker that could mean buying a new strategy book, getting a coach, or grabbing some new poker videos. Not all investments require money though…since there are two ways you can invest…with dollars OR time.
What is your time worth?
Your time is valuable. Time is one of the only things in life we can never work harder and get more of (unlike money)…so it’s a precious resource that we need to consider when investing. Say you value your time at $100/hr. If you do, should you buy a $50 book that teaches you most of the skills you need in a few hours of reading…or should you spend 20 hours doing your own research with no upfront cost?
Well if you value your time at $100/hr, trying to gather the answers yourself through free articles, videos, and research will “cost” you $2,000. Versus spending $50 on a book plus a few hours of time which comes out to closer to $400. I don’t know about you…but I’d rather save myself the time and use those extra hours playing and making money rather than googling around hoping to find the answers on my own.
A Positive ROI
ROI stands for return on investment. Whether you are going to invest time or money, make sure it will have a positive ROI. Don’t invest $10,000 in poker coaching if you only play $1/$2 a couple times per year…since it will be impossible to recoup your investment (yet alone show a positive ROI on it!).
Before you invest in anything ask yourself:
- How much is this going to cost me, both in terms of time and money?
- How long would it take to recoup that cost?
- Can I expect to make an ROI on this? Is it big enough to be worthwhile?
The ROI of Investing In Poker
Investing in poker training is one of the best investments you can make towards your poker strategy. If you playing $1/$2 or $2/$5 live, it becomes incredibly easy to show ROI for your investments. Even a $50 book or a $97 video series can show an ROI within very few hours of digesting the content and putting it to use on the tables.
And to be honest, the time investment is excellent. It takes a VERY long time to learn poker just doing free research and self-study (and even worse since you usually won’t know what to study or if your answers are even correct!). So would you rather spend hundreds of hours of your own time scouring the internet for poker information that may, or may not, be correct? Or invest in quality content that saves you time and ensures you are getting the right knowledge and skills quickly?
Only you can decide if investing in your poker strategy makes sense for you. Consider what your time is worth, if your investment could offer a positive ROI, and then choose an investment strategy. Any poker player with solid success has invested in themselves…either with time or money…and often times with both. And if you are looking for a great investment, you’ll dig our PRO Membership which gives you brand-new quality videos each and every month…
Whatever you choose…I wish you the best of luck. Just make sure to make those +ROI investments and make sure you value your own time!
Great view point! My first poker two day class in Vegas was $1500 Not including flight, hotel. I was worried about the expense but knew I wanted to improve my game. My ROI took two weeks, won two tournaments in a row at my local poker club. I’ve since attended on site training in Vegas twice, ROI within a month of both. Do it! BTW, love Red Chip Poker. My game continues to be elevated! Thanks
Thanks Beth, and congrats on your massive ROIs!