Better players outperform weaker players over the course of play. It's the hefty skill component that attracts some of the better minds.Gavin Strachan wrote:I will agree that ultimately there is a lot of skill in poker like chess, but ultimately it is gambling.
Those are the people who don't put in the hours to master the game (or lack the bedrock ability). They are the lemmings the pros make a living out of. The one skill a good poker player has which a chess player may not have is the ability to rapidly calculate odds. People with doctorates in math and physics have become professional poker players. It's a game of skill and as the time horizon increases the luck element asymptotically converges to a minor factor.Poker is an easier game to learn and understand; but ultimately there are a lot of people out there who have lost a hell of a lot of money playing poker, you hear about the big wins, but perhaps not all the losses.
Some of us were having a discussion on the subject of poker at a quant site I frequent. Someone posted this:
Much like transition of trading has gone from pit trading to screen trading and to automated/HFT/Black box trading now...so has poker gone from live play to online play...and could eventaully get to programmed play as the game gets more "solved".
The best players in the world 50 years ago were old road gamblers that just had experience. As math teachers and more academic players looked at the game they basically ate the lunch of a lot of the "old guard". Today, with the advent and growth of online play, the best players in the world are young kids who sit at home and can play 100 hands an hour...per table...and can play 12 tables at a time. They can see 1,200 hands an hour without leaving their house. For comparison, a player in a casino might see 30 hands an hour. This is what I meant by the learning curve. I have played more hands of poker...and could argue....that I have more experience than a player that has played in a casino for 50 years. I've played over a million hands of poker...he has not.
The reason the online players are so much better is because they developed better fundamentals of the game. They don't prey on drunk tourists coming to a casino playing badly and spewing chips...online players have to play and win against other online players.
So they analyze there game more, create and develop tools for analyzing play (see Holdem manager and poker tracker). Develop equity calculators to run simulations of a hand vs a range of hands (see propokertools.com).