Now a days, poker is virtually synonymous with Texas Hold 'em. So, I want to know--I'm actually ignorant in these matters. Why did this happen?
How did it happen? And is it a good thing or a bad thing? It happened for two reasons. The first of which is probably the more important one, is television. Texas Hold 'em is the--in one sense, the simplest form of poker, two cards down, five cards up. You can teach it in--you know, what do they say, it takes a minute to learn, a lifetime to master? It's something that can be taught and is very easy for people to understand. So, for television reasons, it works well. From a poker players perspective Texas Hold 'em is the ideal game because you get four opportunities to influence the action. And a poker game for those of you who may not know this, and in Texas Hold 'em, at least, there's pre flop action, flop, turn, river. Each time, there's a round of betting Malaysian casino. So, in terms of poker much more than a five card draw or some of the stud games, you have four opportunities for skill to rise to the--rise to the top because in poker the skills is in the betting, pricing your hand appropriately. How do you price your hand at the appropriate level to induce the opposing party to do what you want them to do? How do you price it in an appropriate level to get them to buy or how do price it in an appropriate level to get them to fold? And so, if you have opportunities to do that in Texas Hold 'em, so it's a better game for that purposes, so. In your example you gave--in the puzzle you gave, you kind of assumed that I'm playing poker against people who are roughly of the same intelligence as I am and who roughly think the same way I am. And this is clearly not the case. I will be playing against some people who are dumber or some people who are smarter, some people who have completely different ways. How does your strategy work with--I'm not working with logicians, I'm not working with people that I know how they're going to view my cards? Well, I would say that there's a couple of different points on that. The first one of which is the riddle is designed to demonstrate a type of thinking or a concept that's integral to any poker success. The second thing I would say is that oftentimes how players act, something we call table image, your reputation as it were. And you can trade on that, the same way you can trade on any commodity. The perception you develop of your opposing players, that they're smarter than you, that they're dumber than you, is something that affects how you act. This is exactly why poker is such a good game for teaching strategic thought because just like this in a market situation--in any situation, you're going to be dealing with opposing parties, some of whom are better than you, some of who are worse than you, which will affect which markets you choose to enter. Which will affect what--how you interact with these people. And the way that reputation develops is a very interesting thing, and it's something that poker players often try to cultivate, very specific reputations. They want to be able what's called a tight-aggressive player. Maybe I don't play very many hands but when I play I'm going to get you to pay me a lot or something, which is meant, in part, to scare people away from hands that you don't want them to be on. But all these reputational facts are skills and strategies that develop at the able precisely because there are various types of play and various types of people. And this is one of the reasons why poker is so good at modeling some of the other interactions that you want to develop.
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