fHere, for instance, is a paper from Steven Levitt and Thomas Miles, that analysed play during the 2010 World Series of Poker and found that skilled players made an average return on investment of over 30%, compared with -15% for others (profits that most investors would kill for, especially today). Cigital, a software consultancy, analysed 103m hands of Texas Hold ’Em played at Pokerstars.com, and found that 76% of them ended before a showdown: that is, before opposing players reveal their cards and the strength of their openly compared hands determines the winner. Victory, in other words, was determined not by Mr Hills’s feared flip of a card, but by players’ in-game decisions. It further found that in a showdown only slightly more than half the hands were won by the table’s best possible five-card hand. In 49.7% of the cases the player who could have made the best possible hand folded before the showdown: another outcome determined not by chance but by player decisions. Finally, consider losing rather than winning. Can you deliberately lose a hand of poker if you tried? Of course: bet badly, fold with winning cards, and so on. Can you deliberately lose a game of baccarat or roulette? No: to play you have to bet on an outcome that might happen, regardless of what you do.
Full article in The Economist online
I know there's a thread on this subject, sorry couldn't find it.
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Originally Posted by Ezzz
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