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Know When to Fold Em - The Economist Know When to Fold Em - The Economist

10-13-2011 , 02:37 AM
Great news for poker
Know When to Fold Em - The Economist Quote
10-13-2011 , 02:39 AM
Quote:
Originally Posted by Aruj Reis
there's a reason they are journalists instead of something else...
so what do you consider a respectable profession?
Know When to Fold Em - The Economist Quote
10-13-2011 , 02:54 AM
Quote:
Originally Posted by SKEEZ
Great news for poker
And, here is the most recent Politico article, which is even better.

http://www.politico.com/news/stories/1011/65823.html

We could use some help with the super committee advocating for ipoker:
http://forumserver.twoplustwo.com/29...ittee-1112207/
Know When to Fold Em - The Economist Quote
10-13-2011 , 03:19 AM
Quote:
Originally Posted by Aruj Reis
you can lose at roulette on purpose -- bet every number, but you're right the can't lose on purpose aspect is useless
I think his argument can be restated. His point is that poker players can make many negative EV decisions. Folding the nuts on the river is very -EV. If some players make -EV decisions, it only follows that others are making +EV decisions. Are these decisions based on chance? If not, they have to be based on skill, right? Thus, poker is a game of skill.

In roulette, your EV would be the same whether you bet on one number or three or 18. No strategy will change that. It's a purely a game of luck.
Know When to Fold Em - The Economist Quote
10-13-2011 , 03:38 AM
Quote:
Originally Posted by starvingwriter82

(...)

Just because I can't figure out how to beat myself at chess doesn't mean it's suddenly a game of chance.


each time i read a post...
from this redman guy...
i think he can not...
be very bright.
Know When to Fold Em - The Economist Quote
10-13-2011 , 03:55 AM
Quote:
Originally Posted by :::grimReaper:::
Skill vs luck is currently being discussed in Poker Legislation. May speed up the discussion by not repeating arguments:

http://forumserver.twoplustwo.com/57...31/index4.html
I can't even read that thread it's so tilting. If everyone would take a step back from their positions and stop looking at the minutia perhaps they would see how fruitless the 'skill' defense is.

Does anyone think that if EA Sports started taking rake off of Madden Football games in which you could shove all in before kickoff or raise the pot in the third quarter that the government wouldn't shut them down?

At some point the law books need to give way to common sense.
Know When to Fold Em - The Economist Quote
10-13-2011 , 04:31 AM
Quote:
the only games I can think of in which luck plays no part at all are chess and go
I simply don't buy this at all. Luck plays a very small role in Chess, but it still plays a role, especially at lower levels where players don't have a deep understanding of the game and make many moves they don't truly recognise or understand the effect of.

Even at the highest level of play, luck still plays a small role. You might recognise a certain strategy 70% of the time. There is luck involved in when you happen to recognise it and how important those games are. The human brain is not deterministic, there is a random element to how all thought processes work.

Say you're about to play a chess game for $1 million. You have a list of 20 chess books you can read, but you only have time to read one. You assess that they will all be equally helpful, so you just randomly select one to read. It so happens that that particular book happens to exactly describe a situation you find yourself in in the match and the optimal way to deal with it. You win the match in part because you got lucky.
Know When to Fold Em - The Economist Quote

      
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