My online poker challenge...day 2
I find when people find out what I am trying to do, they often bring up the gambling aspect of it. While they are right to do so, of all forms of gambling, the cost of playing poker is well less than any other form of gambling. In fact I am going to explain how you can take alot of risk out of poker. First of all, anyone who plays Blackjack, Craps or Slot machines and even Sports betting are truly gambling. These are all games which have a built in edge for the house. Meaning based on statistics, if these games are played long enough, the player will lose all his money. Make no mistake about it, the house has a edge, they know if you play these games long enough, they will get all your money. You are playing against the house, the only reason these games are spread is due to the house's edge. I know, some people have stories of how much they won in one night or week, but in the long run these Craps/blackjack/slots players end up losing it all back. That's what led me to poker, the house has no edge, the way any casino makes money off of poker, is to take a small percentage of all pots that are played. The rake is always the same, the casinos have no interest in who wins each pot, they are going to get their percentage anyway. So it becomes you against the other players at the table, allowing the more skillful players an edge. If I were to tell you to play Blackjack, but to never place a bet in Blackjack until you were dealt 19, 20 or 21, you would do much better. That's what poker allows you to do, you do not have to enter a pot until you feel you have an edge. Yes there are two forced bets a round, you do have to pay a big blind and small blind each round. This is to create action, it does add gamble to the game and prevents players like me from only playing when I have an edge. But any skillful player can beat the rake. Now that we have established the main reason why poker is more of a game of skill, I will admit there is still luck involved. Over a small amount of time, luck can play a huge role. But the best players know, skill in the long run is what makes the money.
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Poker is big business now -
Poker is big business now - but I guess it always has been. I can't believe it's so popular.
I mean, who would think that watching abunch of people playing cards on TV would be entertaining - but they get huge audiences.