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Quantification of Luck and Skill in Texas Hold'em Frederic Paik
Quantification of Luck and Skill in Texas Hold’em Frederic Paik Schoenberg 1. Introduction. Las Vegas, Nevada, July 11, 2015. It is day 4 of the 2015 World Series of Poker Main Event. The tournament began with 6,420 players paying $10,000 apiece to enter the tournament. Now only about 400 remain. Some are legendary poker professionals, while others are amateurs taking a shot at poker glory. The tension and drama increase each hand, as millions of dollars and the title of World Champion hang in the balance with each card dealt and each poker decision made. Winning the tournament will clearly require not only great skill but also a huge amount of luck as well. The determination of whether poker is primarily a game of luck or skill has been the subject of intense legal debate. For instance, in 2007 an English court ruled that poker is primarily a game of luck in finding the owner of the Gutshot Club in central London guilty of violating the Gaming Act, which requires a license to host games of chance but not games of skill (Cacciotollo 2007). On the other hand, in 2009 the organizer of a poker club in Colorado was found not guilty of illegal gambling on games of chance in a trial where the jury agreed with a statistician's testimony contending that poker is a game of skill (Hannum and Cabot 2009). As laws differ around the world regarding the legality of gambling on games of skill or games of luck, a clear definition of whether poker is a game primarily of skill or luck might have broad legal implications. -
The Role of Skill Versus Luck in Poker: Evidence from the World Series of Poker
NBER WORKING PAPER SERIES THE ROLE OF SKILL VERSUS LUCK IN POKER: EVIDENCE FROM THE WORLD SERIES OF POKER Steven D. Levitt Thomas J. Miles Working Paper 17023 http://www.nber.org/papers/w17023 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2011 We would like to thank Carter Mundell for truly outstanding research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2011 by Steven D. Levitt and Thomas J. Miles. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. The Role of Skill Versus Luck in Poker: Evidence from the World Series of Poker Steven D. Levitt and Thomas J. Miles NBER Working Paper No. 17023 May 2011 JEL No. K23,K42 ABSTRACT In determining the legality of online poker – a multibillion dollar industry – courts have relied heavily on the issue of whether or not poker is a game of skill. Using newly available data, we analyze that question by examining the performance in the 2010 World Series of Poker of a group of poker players identified as being highly skilled prior to the start of the events. Those players identified a priori as being highly skilled achieved an average return on investment of over 30 percent, compared to a -15 percent for all other players. -
03/26/04 Chip / Token Tracking Time: 04:45 PM Sorted by City - Approved Chips
Date: 03/26/04 Chip / Token Tracking Time: 04:45 PM Sorted by City - Approved Chips Licensee ----- Sample ----- Chip/ City Approved Disapv'd Token Denom. Description LONGSTREET INN & CASINO 09/21/95 00/00/00 CHIP 5.00 OLD MAN WITH HAT AND CANE. AMARGOSA LONGSTREET INN & CASINO 09/21/95 00/00/00 CHIP 25.00 AMARGOSA OPERA HOUSE AMARGOSA LONGSTREET INN & CASINO 09/21/95 00/00/00 CHIP 100.00 TONOPAM AND TIDEWATER CO. AMARGOSA LONGSTREET INN & CASINO 01/12/96 00/00/00 TOKEN 1.00 JACK LONGSTREET AMARGOSA LONGSTREET INN & CASINO 06/19/97 00/00/00 CHIP NCV, HOT STAMP, 3 COLORS AMARGOSA AMARGOSA VALLEY BAR 11/22/95 00/00/00 TOKEN 1.00 GATEWAY TO DEATH VALLEY AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 JULY 4, 1996! AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 HALLOWEEN 1996! AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 THANKSGIVING 1996! AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 MERRY CHRISTMAS 1996! AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 HAPPY NEW YEARS 1997! AMARGOSA VALLEY STATELINE SALOON 06/18/96 00/00/00 CHIP 5.00 HAPPY EASTER 1997! AMARGOSA VALLEY STATELINE SALOON 06/21/96 00/00/00 CHIP 0.25 DORIS JACKSON, FIRST WOMAN OF GAMING AMARGOSA VALLEY STATELINE SALOON 06/21/96 00/00/00 CHIP 0.50 DORIS JACKSON, FIRST WOMAN OF GAMING AMARGOSA VALLEY STATELINE SALOON 06/21/96 00/00/00 CHIP 1.00 DORIS JACKSON, FIRST WOMAN OF GAMING AMARGOSA VALLEY STATELINE SALOON 06/21/96 00/00/00 CHIP 2.50 DORIS JACKSON, FIRST WOMAN OF GAMING AMARGOSA VALLEY STATELINE SALOON -
MJ GONZALES: Ankush Mandavia Talks DANIEL NEGREANU’S About Triumphant Return to Live COACH SEEKS out Tournament Circuit
www.CardPlayer.com Vol. 34/No. 9 April 21, 2021 MJ GONZALES: Ankush Mandavia Talks DANIEL NEGREANU’S About Triumphant Return To Live COACH SEEKS OUT Tournament Circuit HEADS-UP ACTION Twitch Streamer Vanessa Kade Gets Last OF HIS OWN Laugh, Wins Sunday High-Stakes Pro Talks Upcoming Million For $1.5M $3M Freezeout, Private Games, And New Coaching Platform Tournament Strategy: Position And Having The Lead PLAYER_34_08_Cover.indd 1 3/31/21 9:29 AM PLAYER_08_GlobalPoker_DT.indd 2 3/16/21 9:39 AM PLAYER_08_GlobalPoker_DT.indd 3 3/16/21 9:39 AM Masthead - Card Player Vol. 34/No. 9 PUBLISHERS Barry Shulman | Jeff Shulman Editorial Corporate Office EDITORIAL DIRECTOR Julio Rodriguez 6940 O’Bannon Drive TOURNAMENT CONTENT MANAGER Erik Fast Las Vegas, Nevada 89117 ONLINE CONTENT MANAGER Steve Schult (702) 871-1720 Art [email protected] ART DIRECTOR Wendy McIntosh Subscriptions/Renewals 1-866-LVPOKER Website And Internet Services (1-866-587-6537) CHIEF TECHNOLOGY OFFICER Jaran Hardman PO Box 434 DATA COORDINATOR Morgan Young Congers, NY 10920-0434 Sales [email protected] ADVERTISING MANAGER Mary Hurbi Advertising Information NATIONAL SALES MANAGER Barbara Rogers [email protected] LAS VEGAS AND COLORADO SALES REPRESENTATIVE (702) 856-2206 Rich Korbin Distribution Information cardplayer Media LLC [email protected] CHAIRMAN AND CEO Barry Shulman PRESIDENT AND COO Jeff Shulman Results GENERAL COUNSEL Allyn Jaffrey Shulman [email protected] VP INTL. BUSINESS DEVELOPMENT Dominik Karelus CONTROLLER Mary Hurbi Schedules FACILITIES MANAGER Jody Ivener [email protected] Follow us www.facebook.com/cardplayer @CardPlayerMedia Card Player (ISSN 1089-2044) is published biweekly by Card Player Media LLC, 6940 O’Bannon Drive, Las Vegas, NV 89117. -
Hellmuth-Jelassi Skirmishes Add Spice to the World Series of Poker
Hellmuth-Jelassi skirmishes add spice to the World Series of Poker Las Vegas – As the field of 2,378 players at Day 2B of the World Series of Poker Main Event dwindled to 855 Wednesday, players like Raja Kattamuri, Alexander Kostristyn and Victor Ramdin climbed their way up the leaderboard. But by the sheer force of their personalities, two players with fewer chips stole the show with a drama of their own. Phil Hellmuth, playing Phil Hellmuth, was the lead character. Ramzi Jelassi, the plucky poker player who wouldn’t back down, served as Hellmuth’s foil. And the rest of the players at the table had supporting roles. The fireworks began when Hellmuth, wearing a leather jacket over his UltimateBet „Poker Brat“ jersey and UltimateBet baseball hat, decided to push Las Vegas‘ Bobby Law all in with a sizable bet. „You think you’re just going to keep running over me?“ Hellmuth asked. Law, wearing a short-sleeved Green Bay Packers golf shirt, clearly had a good hand and didn’t know what to do. „You’ve got queens,“ Hellmuth said. „I know you’ve got queens.“ Then Hellmuth called for a clock and Law pushed back. „Everyone has been taking an hour to make a decision,“ Law said. Hellmuth quickly withdrew his request and started talking to his wife, seated at a podium immediately behind him. „Honey, honey, warm up the car,“ Hellmuth said, as Law continued to ponder his decision. Finally, Law mucked his hand, and Hellmuth revealed he’d bluffed Law out of the pot with a two and a four. -
Steve Brecher Wins $1,025,500 Poker Palooza
FAIRWAY JAY’S MASTERS PREVIEW ROUNDERLIFE.com KEN DAVITIAN BORAT’S CHUM EXUDES CHARISMA AND CLASS ROY JONES JR Y’ALL MUST HAVE FORGOT STEVE BRECHER WINS $1,025,500 NICK BINGER SURVIVING LONGEST FINAL FROM $50 TABLE IN WPT HISTORY TO $1,000,000 ALL CANADIAN FINAL WSOP CIRCUIT EVENT FEATURED MONTREAL’S SAMUEL CHARTIER VS POKER TORONTO’S JOHN NIXON PALOOZA APRIL 2009 $4.95US DREAM A LITTLE DREAM INSIDE: POKER + ENTERTAINMENT + FOOD + MUSIC + SPOR T S + G I R L S Live the EXCLUSIVE WEB VIDEO AT ROUNDERLIFE.COM ROUNDER GIRLS AFTER DARK • PLAYER INTERVIEWS HOT NEWS AND EVENTS CASINO AND RESTAURANT REVIEWS BEHIND THE SCENE FOOTAGE LETTER FROM THE EDITOR Before you can be a legend, PUBLISHER You gotta get in the game. he World Series of Poker Circuit Event, recently held at Caesars Atlantic Greg McDonald - [email protected] City, has consistently become one of the most well attended events on the circuit schedule. e eleven tournaments that took place from Mach 4th - 14th attracted EDITOR-IN-CHIEF T Evert Caldwell - [email protected] over 5000 players and generated more than $3 million dollars in prize money. is years champion was 23 year old Montreal, Quebec native, Samuel Chartier. e young pro MANAGING EDITOR took home $322,944, and the Circuit Champion’s gold ring for his eff ort. Second place Johnny Kampis fi nisher John Nixon from Toronto, Ontario, made it an All Canadian fi nal. e full time student took home $177,619. Could this be the year a Canadian wins the WSOP Main CONTRIBUTING EDITOR Event ? Canadians were well represented at last years Main Event, making up the highest Dave Lukow percentage of players from a country outside of the US. -
Culberson Classic and $1.54 Million the 2008 Rounder of the Year Lee Childs Last Tango from Student to Teacher in Panama
FAIRWAY JAY’S TIPS ON BETTING COLLEGE BASKETBALL ROUNDERLIFE.com DAVID “CHINO” RHEEM MATT “CUB” WINS WPT DOYLE BRUNSON CULBERSON CLASSIC AND $1.54 MILLION THE 2008 ROUNDER OF THE YEAR LEE CHILDS LAST TANGO FROM STUDENT TO TEACHER IN PANAMA JANUARY 2009 $4.95US INSIDE: POKER + ENTERTAINMENT + FOOD + MUSIC + SPOR T S + G I R L S Hard Rock Hotel Biloxi is proud to announce we have achieved Four Diamond status. 777 BEACH BLVD. BILOXI, MS 39530 | 877.877.6256 | hardrockbiloxi.com LETTER FROM THE EDITOR PUBLISHER Greg McDonald EDITOR-IN-CHIEF with the Southern Evert Caldwell Poker Championship. e two weeks of non stop tournament action get under way Friday January 2nd, with single and mega satellites. ere are a variety of poker MANAGING EDITOR disciplines to choose from including No-Limit Hold ‘Em, Seven Card Stud, Limit Hold ‘Em, Johnny Kampis Seven Card Stud 8 or Better, Omaha 8 or Better, Pot Limit Omaha and Horse. e Buy- CONTRIBUTING EDITOR Ins range from $300 to the $10,000 WPT televised Main Event. Bill Edler won last year’s Dave Lukow championship in dramatic fashion. After being all in on his big blind with 17 players left, Edler came back to capture fi rst place and $747,615. is event is expected to be one of the ART & DESIGN biggest poker events to date in the Southern Region. Casey Wiesel, Nathan Hess, Whitney Prewitt John Phan fi nished 2008 as the number one ranked player in the world in most scoring PHOTOGRAPHY Jack Criswell, Marty McBride systems that include world wide tournaments. -
The Witch-Hunt Against Online Gambling: Why the United States Government Hasn’T Regulated Internet Gaming and Why States’ Rights Are Being Trampled
The Witch-Hunt Against Online Gambling: Why the United States Government Hasn’t Regulated Internet Gaming and Why States’ Rights Are Being Trampled. The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Wallace, Joshua. 2016. The Witch-Hunt Against Online Gambling: Why the United States Government Hasn’t Regulated Internet Gaming and Why States’ Rights Are Being Trampled.. Master's thesis, Harvard Extension School. Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:33797255 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA The Witch-hunt against Online Gambling: Why the United States Government Hasn’t Regulated Internet Gaming and Why States’ Rights Are Being Trampled. Joshua M. Wallace A Thesis in the Field of Government for the Degree of Master of Liberal Arts in Extension Studies Harvard University March 2016 Abstract This study investigates why the United States Government and other parties have systematically targeted online gambling/poker since its inception. Gambling is and always has been a divisive issue, but for the most part the US Government has always sided with the gambling prohibition movement. Current political officials are continuing this trend, even though their allegiances and small-government belief should put them on the other side of the aisle. Politicians are easily swayed on particular issues based on what they think can be given to them in terms of campaign support through endorsements or money. -
Building a Poker Playing Agent Based on Game Logs Using Supervised Learning
FACULDADE DE ENGENHARIA DA UNIVERSIDADE DO PORTO Building a Poker Playing Agent based on Game Logs using Supervised Learning Luís Filipe Guimarães Teófilo Mestrado Integrado em Engenharia Informática e Computação Orientador: Professor Doutor Luís Paulo Reis 26 de Julho de 2010 Building a Poker Playing Agent based on Game Logs using Supervised Learning Luís Filipe Guimarães Teófilo Mestrado Integrado em Engenharia Informática e Computação Aprovado em provas públicas pelo Júri: Presidente: Professor Doutor António Augusto de Sousa Vogal Externo: Professor Doutor José Torres Orientador: Professor Doutor Luís Paulo Reis ____________________________________________________ 26 de Julho de 2010 iv Resumo O desenvolvimento de agentes artificiais que jogam jogos de estratégia provou ser um domínio relevante de investigação, sendo que investigadores importantes na área das ciências de computadores dedicaram o seu tempo a estudar jogos como o Xadrez e as Damas, obtendo resultados notáveis onde o jogador artificial venceu os melhores jogadores humanos. No entanto, os jogos estocásticos com informação incompleta trazem novos desafios. Neste tipo de jogos, o agente tem de lidar com problemas como a gestão de risco ou o tratamento de informação não fiável, o que torna essencial modelar adversários, para conseguir obter bons resultados. Nos últimos anos, o Poker tornou-se um fenómeno de massas, sendo que a sua popularidade continua a aumentar. Na Web, o número de jogadores aumentou bastante, assim como o número de casinos online, tornando o Poker numa indústria bastante rentável. Além disso, devido à sua natureza estocástica de informação imperfeita, o Poker provou ser um problema desafiante para a inteligência artificial. Várias abordagens foram seguidas para criar um jogador artificial perfeito, sendo que já foram feitos progressos nesse sentido, como o melhoramento das técnicas de modelação de oponentes. -
Katja Thater
Das PokerNews Profil: Katja Thater Von Nicole Gordon Wenn man nach den größten „Poker Faces“ der Pokerszene gefragt wird, denkt man mit Sicherheit zuerst an Spieler wie Phil Ivey, Doyle Brunson oder Howard Lederer. Wenn man allerdings Katja Thater am Spieltisch beobachtet hat, wird man ihren Namen sicherlich in die Top 10 der „Poker Faces“ übernehmen. Eine Schönheit mit einer hervorragenden Figur, einer majestätischen Ausstrahlung und einem unerbittlichen Blick. Katja ist am Spieltisch überaus beeindruckend, durch ihren ruhigen, überlegten Spielstil hat sie schon jede Menge Geld bei den High Stakes Cash Games gewonnen, außerdem hat Sie im Laufe ihrer Karriere bereits über USD 300.000 bei Turnieren gewonnen. In ihrer Heimat Deutschland zählt Katja bereits seit längerem zu den Top Playern, im Laufe der letzten Jahre hat Sie sich zusätzlich einen Namen in der internationalen Pokerszene erworben. Man muss sich nur die PokerStars Werbespots und ihr WSOP Bracelet am Arm ansehen, um zu wissen, wie bekannt sie in der internationalen Pokerszene ist. Katja Thater wurde in Hamburg geboren und wohnt immer noch in ihrem Geburtsort. Lange bevor Katja mit dem Kartenspielen begonnen hatte, war sie schon als über die Grenzen hinweg als Pferdezüchterin bekannt und erfolgreich. Sie zeigte ihren Wettkampfgeist indem sie an Dressurturnieren teilnahm – es handelt sich dabei um die Turniere, bei welchen der Reiter das Pferd durch einen komplizierten Parkour dirigiert, um die physischen Fähigkeiten des Pferdes unter Beweis zu stellen. Katja arbeitete zusätzlich als Leiterin einer Marketing Firma. Abends spielte ihr Ehemann, Jan von Halle, regelmäßig in den Cash-Games im örtlichen Casino, wobei Katja ihn oft beobachtete. -
Kill Phil: the Fast Track to Success in No-Limit Hold 'Em Poker Tournaments / Blair Rodman, Lee Nelson, Steven Heston, Phil Hellmuth, Jr
Kill Phil: The Fast Track to Success in No-Limit Hold 'em Poker Tournaments / Blair Rodman, Lee Nelson, Steven Heston, Phil Hellmuth, Jr. / 2009 1935396315, 9781935396314 / 2009 / Huntington Press Inc, 2009 / Blair Rodman, Lee Nelson, Steven Heston, Phil Hellmuth, Jr. / Kill Phil: The Fast Track to Success in No-Limit Hold 'em Poker Tournaments / 284 pages / Thanks to television, the Internet, and the incredible popularity of the World Series of Poker in Las Vegas, whenKill Phil was first published in 2006, tournament poker had become the richest sport in the world. The problem was that no-limit hold ’em was dominated by a handful of experienced and skilled professional players.Kill Phil turned the tables on the pros by introducing a strategy that allowed even an absolute novice to compete against the best players in the world. TheKill Phil strategy remains highly effective when used in confrontations with even the world’s best players, but tournament play is evolving. This revised edition reflects the new trends in tournament poker by refining the use of the all-in move and providing adaptations that take into account the new style of hyper-aggressive play. At its core, though,Kill Phil remains what it’s been from the start--the best method possible for entering the exciting and potentially lucrative poker-tournament arena. ReadKill Phil and: Learn an abbreviated system--the "Kill Phil Rookie―--that’s simple enough to be mastered within an hour and powerful enough to make you competitive in your first tournament. Climb theKill Phil ladder, learning more powerful strategies as you gain real-time experience. -
Fulltiltpoker.Net Nimmt Eddy Scharf, Einen Der Erfolgreichsten Deutschen Pokerspieler, Als Profispieler Auf
FullTiltPoker.net nimmt Eddy Scharf, einen der erfolgreichsten deutschen Pokerspieler, als Profispieler auf Eduard Scharf, in der Pokerszene bekannt als „Eddy Scharf“, gewann als einziger deutscher Pokerspieler bereits zwei Mal die World Series of Poker (WSOP 2001 und 2003), was ihn für die FullTiltPoker.net Profis prädestiniert. Seine zahlreichen Turniererfolge machen ihn zu einem der erfolgreichsten deutschen Spieler an den Pokertischen dieser Welt. Bei FullTiltPoker.net kann jeder Poker von den Besten der Besten lernen – ab sofort auch von Eddy Scharf. Über Eddy Scharf: Der 53-jährige lebt in seiner Heimatstadt Köln und arbeitet als Berufspilot bei einer der größten deutschen Fluggesellschaften. „Für mich war die Poker- Authentizität, die von FullTiltPoker.net ausgeht, entscheidend. Durch meinen Beruf als Pilot lege ich viel Wert auf professionelle, klare Strukturen und unverfälschte Kommunikation,“ so Eddy Scharf. Für das Fliegen schlägt sein Herz ebenso, wie für das Pokerspiel. Schon vor seiner Pilotenausbildung zog es Eddy ins Casino, die Poker- Leidenschaft entwickelte sich bei einem Besuch in Monte Carlo und Las Vegas. Der Beginn seiner unaufhaltsamen Erfolgsserie. Hier zeigte sich schnell, wie viel Risikofreude, Bluff, Leidenschaft und Professionalität Eddy Scharf am Pokertisch an den Tag legt. Es folgten Spiele in Wiesbaden, Amsterdam und Las Vegas mit Pokervarianten wie Limit Hold’em, Pot Limit Hold’em und 7 Card Stud. Sein erster nennenswerter Turniererfolg war 1998 in Amsterdam bei den Masterclassics. Hier konnte er den 1. Platz im Limit Hold’em in einer der größten europäischen Turniere seinerzeit belegen. Chris „Jesus“ Ferguson, Team Full Tilt, freut sich über den deutschen Neuzugang: „Eddy Scharf hat seinen Ruf als internationaler Profi in der Pokerwelt gefestigt.