Re: Article by Bill Frist
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Basically I think one major problem is that the public, for the most part, doesn't have a clue about the concept of EV and the idea undertaking activities with uncertain outcomes where one is +EV. If the public did have a clue then there would be an outcry about the lottery and horse racing as well. Poker games would probably be a lot tougher as well though if the public was more sophisticated regarding gambling.
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Yeah, it is kind of sad that our poker income depends on the fact that people are ignorant about this stuff. I sincerely doubt I'd be able to make enough money at poker for it to be worth playing, if Joe Sixpack understood EV (both because a lot more people would be decent at poker, and because fewer fish would play).
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