Quote:
Originally Posted by glogga
Niether is poker multiway. The point is solvers aren't going to ruin poker or chess.
It's the combination of people playing in a more similar fashion and the rake. If poker didn't have a rake, I would be dead wrong and if chess had a rake, it would have died a very long time ago.
Several years ago, before the demise of Limit Holdem, the Poker Room at Horseshoe Southern Indiana started spreading $2-2-4-8 Holdem. $2 increments PRE, $2 increment on the flop, $4 increments on the turn and $8 bets on the river.
The old nits loved the game, they could play every hand and they could see the flop for $2. One of the primary edges a good player has in limit holdem, is knowing the pot odds so you only play profitable hands and only call when you are getting the right odds and you bet/raise for one of three reasons, to gain information, for value or to steal. (Before someone jumps in to mention semi-bluffing as if they got me, semi-bluffing is a combination of all three.)
One of the biggest mistakes my opponents made was chasing a gutshot straight draw with insufficient odds. The $2-2-4-8 structure, eliminated the possibility of making this mistake. Everybody limped in every had (10 handed game) so as soon as the first person bet the flop, they now were getting 11-1 on their $2 call which is the minimum required to correctly continue with a gutshot. Because the bet doubled on the turn and the river and the pots were always tiny, they were also incentivized to make better folds on the turn and river.
This betting structure forced everyone to play in a similar manner. The bad player's mistakes were now correct play and because I was getting the right odds to continue, I had to play the same way.
I believe the rake at that time was 10% with a $5 cap and $1 promotional drop. The rake didn't get capped in most hands so you had a game with a large rake, tiny edges and small pots. Eventually, even the old Nits that loved the game stopped playing. If ten of us played for more than about four hours, often times, all ten would be stuck. Primarily because very few if any had of us had a big enough edge to beat the rake.
The higher limit games suffered and died because there were no longer any winners at the lower limits to move up to a bigger game.
This is why NLH (Cash Games) are in trouble, as playing styles converge, fewer players will be able to overcome the rake in the micros so fewer bankrolls are being built and fewer new players moving up.
I believe that history is repeating itself. I just turned 60 yrs old so I might be dead before NLH but I am absolutely convinced, based upon past experience, the process has started the conclusion is inevitable.