Poker is a card game that involves betting on your own hand and the hands of other players. Each player has a set amount of chips that they can bet with. After each round of betting, the remaining players reveal their cards and the player with the best 5-card hand wins the pot of money that was bet during the round.
One of the main skills that poker teaches you is how to make decisions under uncertainty. This is a key skill in any field, from business to sports. In poker, you have to estimate the probability of different scenarios happening and then weigh up your options before making a decision.
Another thing that poker teaches you is how to read people. This is a great skill in general, but it can be especially useful when it comes to making sales or giving presentations. In poker, you have to be able to pick up on tells and other body language signals that indicate whether someone is bluffing or holding a strong hand.
Finally, poker teaches you how to maximise your winnings and minimise your losses. This is a key principle that can be applied to any area of life, from investing to running a business. In poker, this is called “MinMax” and it means taking the most value from your winning hands while limiting your losses on losing ones. This requires discipline, persistence and sharp focus. It also helps to have a good bankroll and to play only in profitable games.