Amazon Deals

New at Amazon

Wednesday, May 11, 2011

Poker is much more skill than luck

Geekpress:

Poker is much more skill than luck.

As this related Freakonomics blog post notes:
Using data from the 2010 World Series of Poker, Levitt and Miles found that high-skilled players earned an average return on investment of over 30 percent, whereas all other players averaged a 15 percent loss. This finding has serious implications on the legality of online poker, as that debate is heavily dependent on whether the game is based on skill or luck.
Also noteworthy:
The differences are "far larger in magnitude than those observed in financial markets, where fees charged by the money managers viewed as being most talented can run as high as 3 percent of assets under management and 30 percent of annual returns."

No comments:

Post a Comment