Playing online is an ideal way to learn the game as you'll never get to see the same number of hands playing live games. Problem with learning online though, is staying focused. No point playing if you're not paying attention... that's when you start calling with air and get killed.
You most definitely can learn how to read playing online as you observe betting patterns and also how good players play. Check out the players around you when you play at sites like sharkscope.com and look at their ratings... observe and learn from the good players and follow the fish to make some easy coin.
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