The story of the golden goose has been told many times and often with slight variations. The basic premise is someone finds a goose that lays a golden egg once a day. The potential fortune is limitless at no cost and no risk. However because the goose is laying golden eggs the main character believes the goose itself to be made of gold on the inside and kills the goose to get at the gold. After killing the goose the character finds it to be a regular goose on the inside.

 

 This cautionary tale of greed and impatience can be aptly applied to poker players. Unfortunately, unlike the story, there is always an element of risk involved. Knowing that there is always an element of luck involved a beginning poker player can be forgiven for jumping the gun and shoving all-in to scare off other players. This strategy keeps others out of the hand but also limits how much you can win. When playing in cash games or tournaments it is important to take the time to think and act in such a way that you can extract the most chips from your opponent. On each street it is important that you bet size properly to extract maximum value. Failure to do so will mean another player may beat you to it. Think about what your opponent will call ad why. When you have the best hand making good bets will bleed your opponent’s chips and can possibly setup a river bet where the opposing player will be all-in.

 

Bet sizing requires a lot of work before the hand unfolds. You should be attentive to the previous actions and hands, have a basic understanding of math, and know your opponent. Each hand is different with different actions leading to a conclusion. Having the most knowledge possible will enable you to make the most profitable bet sizes. It takes practice, patience, and knowledge to ensure you are making good bets. By having some patience and not scaring a player off pre-flop or on the flop you can make more money later on in the hand.