Grind Cashes Third in a 70 Person multi

the stock market isn't gambling either. my dad does that for a living now.

regarding poker however, your analogy isn't apt. In poker you can make positive expected value decisions which makes your long term game *CONSISTENTLY* profitable.. that's the keyword. I'm not just saying you will have winnings, but that if you were to graph it... that it would be going at a 45 degree angle.

This example is used time and time again so Now I'll use it with you..

Lets say that we decide to flip a coin 100 times. Everytime it lands on heads, you have to pay me 1 dollar. However, everytime it lands on tails, I have to pay you 100 dollars. Would you take this bet? Of Course you would! Now, short term, you may have 5 heads in a row, and owe me 5 bucks. But your expected value is so high you only have to win once out of 100 just to break even... but we know that statistically, you are due to win about 50% of the time.

Thus you will win.. statistically... perhaps slightly more or slightly less, around 4950 by taking this bet with me longterm. You have long term expected value from this bet. Its not gambling because your income is as rock solid as any salary is. How does this tie into poker?

In poker you are often making calls and raises based on your odds to win, versus the amount of money you have invested in the pot and how much you expect to gain (pot odds)

A classic example is when you are on a flush draw.

Lets say the pot is 900. Someone bets 100 to you making the pot an even 1000. Now, if you know anything about poker, a flush draw after the flop makes you 35% to win. Therefore, one in 3 times, you take down the pot.

So now in this scenario you have to put 100 into a 1000 dollar pot, giving you 10:1 on your money when you are 3:1 to win. Like the coin example, this allows you to have positive expected value.

Lets say you lose the first pot. You've lost 100 dollars now.
Lets say the same exact scenario occurs again, and once again you lose. you are now down 200 dollars.
Finally, the third time you take it down (as long term statistics dictates you will. You have now invested 300 dollars, and you have taken down a 1000 dollar pot, for a positive value of 700 dollars.

If you play according to the odds of winning in poker versus the amount of value you are getting to call... you will ahve consistent long term winnings.
 
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Yep I have made a lot off of the stock market, but it is gambling.
Know when to hold, fold, etc....
Butt you are always gambling that you can sell for more than you bought for.
Everyone does not win all the time in the stock market.
 
this isn't up for debate uscitizen. poker is not equivalent to the stock market. It is a skill that you develop overtime. Luck plays a small factor but skill will win out BIG. If you sat down with a pro poker player you would be crushed. And it's not cause they are luckier than you.
 
Grind said:
this isn't up for debate uscitizen. poker is not equivalent to the stock market. It is a skill that you develop overtime. Luck plays a small factor but skill will win out BIG. If you sat down with a pro poker player you would be crushed. And it's not cause they are luckier than you.
Click to expand...

Perhaps on they my playing poker. That is the big reason I do not play poker. That and I got in tha habit of working hard for my money and do not want to flush it down the toilet.

Have fun in your skillful sport there Grind.
 
I suppose a great amount of risk CAN be mitigated by being smart and stuff. Why is it the same people who get to the top of the poker championships all the time? Gosh, usc, you're dumb.:clink:
 
with experience comes the ability to read players hands, a skill that is not to be overlooked. I literally play upwards of 3000 hands At LEAST a day, 7 days a week. When you play that much you start to very quickly realize certain situations you've been in before. So combined with playing for expected value, being able to read your opponents gives you a considerable and distinct advantage.

Oh, and uscitizen, you saying "the key word is expected" is like creationists saying the "key word is theory" when it comes to gravity or evolution. If you catch my drift.
 
Excellent thread.

I remember when I first started to "get it" with regard to poker. The well timed aggression, the weak overbet bluffs of less skilled players, the voluminous amount of tells, the minimum raise threat from more skilled players, and the traps for hyperaggressive players to name a few. The key being in the aggression. Since then, I have consistently won money at the tables, and the "gamble" of the game was significantly reduced, significantly. People who don't take the game seriously, and who haven't really made a study of it, well, they just don't get it. Their commentary is peanut gallery stuff.

Anyhow sounds like you made some great reads, and when you laid down the broads, anyone whoe saw that as a weak play rather than a great read doesn't get it yet IMO. You were dead to a flush, you knew it, you laid it down, correct play most of the time. I love it when players underestimate me and start thinking they can push me around. That's when I can really come back at them.

I'll check in again later.
 
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