Quote:
Originally Posted by synth_floyd
How do players come back week after week, year after year of consistently losing or maybe breaking even/winning once in a while? Do people not realize that they're losing so much? They don't care? Or are there enough new players joining the pool to make up for the ones who do quit.
As I said in a recent O/8 thread, this may be the dirty little secret of low-limit poker—that almost no one's winning in the long term. I'm talking $6/$12 and under. I think maybe 5-10% of players are up at the end of the year, and another 5-10% are roughly even. That means 80-90% are down. Some games are unbeatable under certain conditions (e.g., shorthanded with a prop), and some games are unbeatable period (e.g., $3/$6 Stud with a drop of $4 + $2).
In
The Psychology of Poker, Alan Schoonmaker describes the motivations different people have for playing poker: not just to win money, but also for social contact, as a competitive outlet, for the intellectual challenge, for the thrill of gambling, because it's addictive, etc. Most of us play for some combination of the above.
I would add to that list the fantasy of winning a jackpot. Like the fantasy of winning the lottery, those thoughts can be very pleasurable even if the desired event never occurs—and indulging that fantasy can be a strong motivation to continue to play after years of regular losses.
Indeed, in the 25+ years I've played poker in Bay Area card rooms, I've seen a proliferation of promotions of all kinds (in the rooms that allow them, anyway). I think a lot of players go to the card room hoping to win a high hand bonus, for example, without any expectation of beating the game.
Do people realize how much they're losing? Some do; probably most don't. Most of the players at these stakes don't keep accurate records of wins and losses and hours played. When you don't keep records, it's easy to delude yourself that you're a winning player when you're not—you just focus on the wins and conveniently forget (or downplay) the losses.
It's true that other adult recreational activities—like golf or skiing or being a [49ers/Giants/Warriors/Sharks] season ticket holder—can cost thousands of dollars a year. But I don't think many losing poker players make that calculation. I think they're simply in denial about how much they're losing.