View Single Post
  #3  
Old 01-25-2007, 04:37 AM
JaredL JaredL is offline
Senior Member
 
Join Date: Jan 2004
Location: No te olvidamos
Posts: 10,851
Default Re: Is poker gambling?

[ QUOTE ]
Assume you only put money in the pot when you are a favorite or getting the right price due to skill (knowing your opponent, pot odds etc). In terms of the math, you can expect to win more than you lose, making putting that money into the pot an investment rather than a gamble. I know luck gets thrown into the mix but theoretically the luck will even out over the long run. Suggestions, comments?

[/ QUOTE ]

Here's your thought process applied to roulette:

[ QUOTE ]
Assume you only put money on the roulette table when you are not getting the right odds due to gamb0000l. In terms of the math, you can expect to lose more than you win, making putting that money into the pot a transfer to the house rather than a gamble. I know luck gets thrown into the mix but theoretically the luck will even out over the long run.

[/ QUOTE ]

If roulette isn't gambling, then there is no such thing as gambling. As far as I can tell the thought processes are the same.

As far as whether it is gambling, why is it relevant that poker is +EV? Do you think the gambling addict that spends hour upon hour at the casino playing slots and craps is gambling? The same EV equations apply to her.

Overall I don't think it matters. Poker clearly is gambling. People, especially those trying to convince themselves or others that it's ok for them to play poker, want that not to be the case because there is some social stigma attached. If you want to convince someone that it's ok, IMO a better approach is to look at a lot of other gambling situations that are ok. Investing in the stock market, for example, is clearly gambling. Convince yourself or others that the form of gambling in which you are participating is more like this than the dude losing his work check a dollar at a time in the slot machine.

Jared
Reply With Quote