Quote:
Originally Posted by Poker_Tiger
I guess there is a reason why most people say only 10 to 20% of NL poker players are long term winners. If there was no rake I'd imagine 30 to 40% would be long term winners or at least break even.
I think the real numbers (which are relatively easy to extrapolate from online results / Table Ratings at comparably difficult limits, adjusted for rake), are far, far lower.
Simply put, the vast, vast majority of poker players, live and online, limit and no limit, are long term losers. A smaller group are either breakeven players or very small winners. The group that we would call "winners" in the sense of paying for expenses, making a living, being able to utilize poker income to pay for at least some living or discretionary expenses, is EXTREMELY small-- probably somewhere between 1 and 5 percent of players.
And while rake certainly has something to do with that, it is not the main cause. The main cause is simply that the poker economy requires, and would require even with a smaller rake, numerous losing players to finance the winnings of each winning player. The basic reason for this is because if it were just a single player financing the winnings of each winner, those players would tend to quit playing as the losses mounted. What you need is not one big loser but a whole bunch of smaller losers to pay for each winning player who lose enough that when aggregated can pay for the winning player while not losing so much that they stop playing the game. And then you add the rake onto that and you need a bunch more of those smaller losers to pay the rake.
This fact is built into the economics of poker, is not fully understood by most players (even though it can be readily determined by examining databases of online play), and is the fundamental reason why very few players at any limit are significant long-term winners.
Commerce's drop sucks (though at higher limits it becomes comparable in percentage terms to online rakes). But in a fantasy hypothetical world where Commerce got rid of the drop, the vast, vast majority of players would still never be significant winners. They would just lose a bit less.