This week's Poker and Philosophy uses a quote from a famous motivational speaker as a launching point for a discussion about losing well.

"Courage is the discovery that you may not win, and trying when you know you can lose." Tom Krause

At its core, poker is a game that requires more than just math smarts and an ability to read other players.

You need to have the capability to do more than win - you have to learn how to lose well and walk away from a hand with a commitment to use your misfortune to your advantage.

Mind you, I'm not talking about graciousness and remembering that it's a game (even if that's important) - I'm talking about actually taking some time to break down every loss and analyzing it to understand why it happened, particularly when it comes to tournament play and the final table, where the human element becomes the overriding factor.

One of the best ways you can get the most out of your game is to remember the quote above from Tom Krause (a noted motivational speaker and coach.)

Knowing how to handle your losses and being detached from the financial pain is key. The easiest way to do this is, of course, to follow good money management principles so that you never irreversibly damage your bankroll.

After a loss, take the time to analyze what exactly happened and review what you might have done better. Take a clinical detached eye and ask yourself if you would have made the same decision again if the circumstances were equal.

If yes, figure out why. Were you outfoxed, outplayed, or was it simply luck that let the other person take the top spot? If no, you'll want to spend some time re-evaluating your performance and pinpoint exactly where you went wrong in your play.

If you want to be an effective poker player that manages to hit that sweet spot of fun and profit, then you're going to have to lose the fear of losing. You're going to have to be courageous.

Courage is the thing that moves a player from merely profitable into being a fiscal dynamo. It can also help the player who's looking for fun get the most out of the game by giving them rewards that can't be found just in dollars and cents.

Don't risk anything unnecessarily, but lose the fear you might have when it comes to losing.

It can free your game up immensely and give you a chance to enjoy poker profitably.

Be a Player. Play online poker at Bodog.