Games

Is poker luck or skill?

Arguments for the Mastery Factor
In her blog, Annie Duke spoke very interestingly about the poker skill factor. She said that in poker, you could voluntarily lose money on an ongoing basis, for example, by check-folding in each hand. In no game, based on luck, it is impossible only to lose money over and over again. For example, if you play dice, then you win or lose in a different ratio, but in the end, both options happen.

It is impossible to lose the dice, even if you Taruhan Tembak Ikan Online to purposefully. A person won or lost, determines the factor of luck (in this case, the result is on the bones). This is simple but obvious evidence that poker is not based on pure luck. The player has a significant impact on the outcome with his decisions, which is not observed in traditional gambling, where chance rules everything.

Parallels with the game on the stock exchange and other theories
In economics, speculation is evil, and investment is heroism. Thinking is associated with gambling and is considered an unproductive activity that harms the economy. But finance is a noble undertaking that serves a higher purpose. But how much depends on luck and how much on the skill, when an ordinary person tries to play on the stock exchange? The financial crisis of 2008 vividly demonstrated that there is more gambling in stock trading than we used to think.

As in poker, luck and skill coexist in exchange trading
Another clear argument in favor of mastery is the presence of an army of professional players. Most of them are young and do not pass the test of time, but some earn a living as a poker. A classic example is Doyle Brunson, whose successful poker career spans 50 years. Was he lucky for 50 years in a row?

One Dutch statistician conducted a study to find out the relationship between skill and luck in popular games. Its formula is “skill = learning effect / (learning effect + luck effect),” where the learning effect is the difference between a successful player and a newcomer. Based on this rating, poker got 0.4 on a scale from 0 to 1 — the same indicator for chess.

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