Is poker gambling?

Eagle Eye · #1 10-23-2006, 03:15 AM

I know this may seem like an obvious question but I've been trying to determine this definition for a while now. Is poker technically considered "gambling"? If for instance, you ignore all other facets of the game and turn the cards over; one of you has kings and the other has eights and you decide to wager 50 dollars on the hand with no future rounds of betting, is that still considered gambling for the person with the kings although the kings will hold a huge majority of the time and the person KNOWS this. I mean you can't say the casino "gambles" because obviously they know they will win over the long run. I guess what I'm trying to say is this. Is it only gambling if you are on the bad side of the odds or is it gambling even if you know you will win in the long run?

Sorry for the rambling just frustrated as hell trying to convince some people that poker is not a casino game.

alphatmw · #2 10-23-2006, 03:35 AM

this question is easily answered if you just give your definition of gambling. if you don't have one, then your question should be "what's the definition of gamlbing?" and not "is poker gambling?"

dave6 · #3 10-23-2006, 03:55 AM

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this question is easily answered if you just give your definition of gambling. if you don't have one, then your question should be "what's the definition of gamlbing?" and not "is poker gambling?"

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Just my opinion, but I would consider "gambling" to be doing some sort of -EV activity that's meant to increase variance, in the hopes of getting lucky in the short run. Investing in the stock market or owning a business isn't gambling because (assuming you do it right) it's +EV. Insurance is -EV, but it's not gambling because the point is to reduce variance, not increase it.

So a good poker player isn't "gambling" any more than a good stock trader is "gambling." On the other hand, a bad stock trader IS gambling, especially if they're constantly chasing "hot stock tips" on small companies (seeking variance) and trading so much that fees/commissions make the whole thing -EV.

alphatmw · #4 10-23-2006, 04:32 AM

so flipping coins for $100 each time isn't gambling according to you?

Gonso · #5 10-23-2006, 05:33 AM

EV isn't relevant, poker is most definately gambling. It can be a beatable game, and (under normal circumstances) highly skilled players have a positive expectation over the long run.

In a general sense, the ability to evaluate EV of gambling situations in the game is what makes a good player good in the first place; they're simply better at selecting +EV gambles.

Unknown Soldier · #6 10-23-2006, 06:48 AM

risking something of value on an event that hasn't got a guarunteed outcome.

That's my deffinition. So yes; poker is gambling, and so do the casinos!

Abbaddabba · #7 10-23-2006, 07:21 AM

It involves gambling.

To say that it IS gambling implies that it's nothing else.

Abbaddabba · #8 10-23-2006, 07:23 AM

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risking something of value on an event that hasn't got a guarunteed outcome.

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The problem with that definition is that a LOT of things can be considered gambling that a reasonable person wouldnt consider to be.

Poker Plan · #9 10-23-2006, 07:26 AM

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Sorry for the rambling just frustrated as hell trying to convince some people that poker is not a casino game.

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Poker IS a casino game. It's a game played within casinos.

And "Yes" it IS gambling. Any proposition where you wager money on an uncertain outcome is Gambling.

Just because you (hopefully) learn to wager only when the outcome is "likely" to be favourable to you does not change the fact that it's gambling.

Ian

imzadim · #10 10-23-2006, 07:31 AM

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It involves gambling.

To say that it IS gambling implies that it's nothing else.

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Same opinion here.