The Math Behind Taking Risks: Understanding Expected Value and Probability
When the cards are dealt and the chips are in play, the distinction between winners and losers is no longer ‘luck’ – it’s mathematics. Every wager and gamble made in ‘the game’ has a set structure of approximate values and probabilities that determine the long-run outcomes. While temporary luck may indeed favor the bold, understanding […]
Poker & Probabilities: Is The Game About Luck or Skill?
Poker has long been a mysterious game often featured in action-filled movies, played by tough characters. Virtually everyone knows about poker, but not everyone knows how to play it. Even fewer are familiar with the odds and probabilities associated with the game. This begs the question of whether or not skill and mathematical probability calculations […]
