Phil Ivey is one of the most mysterious figures in poker. For the past 20 years, Ivey has dominated direct and online poker roads. He extorted 10 world series poker bracelets besides $ 31,377,928 in direct tournament profit. Ivey has also done well in high-fighting cash games, both live and online. Despite the extraordinary success of Ivey in the feelings and fame that had come with him, details about his personal life had remained under the wrap. It changed last week when he sat for an interview with the only Joe Ingram.
See the interview video here or continue to read for four main insights:
Takeout # 1: If you enjoy victory, you must feel comfortable
Poker is a very high variance game. A few days, it feels like you can’t win hands. Other days, you feel invincible. The best players in the world have accepted the fact that you cannot win every time you sit down. Being comfortable with loss is one way to separate yourself from the package. This is the way Ivey put it:
If you enjoy victory, you must appreciate the fact that you sometimes lose. I think this is a much easier game and a much easier experience like that. I think it comes with experience. If you play a lot of hands and hours and things like that, you know that you sometimes lose some of these pots. We all have off the day.
Takeout # 2: Your speed and increase the stakes at the right time
It won’t be the first or last time you read suggestions related to bankroll management, but I’m sure this is the only time you will read suggestions like Phil Ivey! All poker players aspire to get up in bets, but trying to do it at the wrong time can harm bankroll and someone’s mindset. Ivey has seen many players make this mistake throughout his career:
Many people get a lot of trouble playing on their heads, playing too much, and putting themselves in some financially bad places. It doesn’t have to be like that, especially if you are new to poker. Poker is a very pleasant game and a nice hobby to have. If you are not excessive, your steps, and raise with bets at the right time, then it will be a much more enjoyable experience for you.
Takeout # 3: You need to learn how to control your emotions
When you play a game for money, of course there will be many emotions involved. However, when you are at the table, you must try to put emotions to the side and make the good decision. According to Ivey:
In poker, you train yourself for years to cut emotions. For me, I don’t want too high or too low at the poker table. I want to remain an emotional level, especially when losing. I think it’s very important.
Takeout # 4: Being good at poker does not equalize to become good at life
This tip is accompanied by a long quote from Ivey, but I promise it’s worth it. Some people, if there are poker players in history, have had as much success as Phil Ivey felt. However, the success came at a cost when Phil found himself needing to make some changes in his life. This is what he said:
- That happened so fast. I got a lot of money at a young age and I was in Vegas. You get a part of the scene and start out a little. The things that just happened, were very fast. You are familiar with certain life.
- I think my first real addiction for anything is poker. I use poker as an escape from reality for years. From the moment I was 18-32, I played almost every day and I played a lot, for hours. I spent years that adults and growing up, I spent them at the poker table. So, I have never really grew up. I never really dealt with any emotions. I have never really dealt with past things that you need to handle to evolve and grow.
- When I started working on myself, I realized that most of the things about how I saw myself just the opposite. I think I am a person who is very selfless. It really crossed my mind. I think I’m not selfish because I will take care of people with money. I will take care of family and friends with money.
- But the problem is, I am very selfish with my time. I do things according to what I want. I am selfish in relationships and I am selfish with the people I care about, do what I want to do and not sacrifice what I want at any point. It came out with the work I did and was something I needed to do every day.
- I handed over the life itself and pay my attention and energy into the poker. I have a great benefit from it, a financial tournament and win. Until the time, I can pay off the right price. You pay the price when you don’t take the time and work on yourself.
- I started doing myself when I didn’t like my behavior and my reaction to things. I don’t like the things I do. Luckily, I have some people who really care about me and can tell me. I have been told enough where I have to do something about it.
- In the world of poker a right action is not necessarily in the real world or real life alike. It takes a lot of work to be good at poker and need a lot of work to be good in life.
- It allows me to get back in contact with myself and my family. I often do activities to calm myself, for example yoga and meditation. Get problems back in sequence. It allows me to recognize what’s important and what doesn’t. I put a certain value on things that are important to me like my mental health, sports, family. This frees to find out what is actually important. I was in a very good place in my life right now.
Bonus: How Phil Ivey won $ 16,000,000 in one session vs billionaire
If you’ve read the book, “Professor, Banker, and King of Suicide” You are familiar with the story of how the Pro team, led by Phil Ivey, defeated Banker Andy Beal for millions.
It’s nice to see Phil Ivey more open about his life. If you haven’t done it yet, I would recommend watching the entire podcast episode to achieve a lot of Phil’s wisdom.
Speaking of Phil Ivey, see our analysis of the pot $ 825,635 which he plays vs. pro Stars to another from here.
That’s for today. Good luck at this week’s table!