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The Mathematics of Poker
Thirty years ago the bond and option markets were dominated by traders who had learned their craft by experience. By the mid-1990s the old school grizzled traders had been replaced by a new breed of quantitative analysts, applying mathematics to the "art" of trading and making of it a science. A similar phenomenon is happening in poker. The grizzled "road ga...more
Paperback, 382 pages
Published
November 30th 2006
by Conjelco
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Brian Loux
rated it
Recommends it for:
hardcore poker players, investment bankers who think they are poker players
I expounded on this more when talking about Bill Belichick and his supposed genius, but I'll repeat it briefly here:
Imagine there is a lottery for $200 Million and each ticket costs $1. The odds of winning are 1 in 10 million. What should you do?
Mathematically, you should liquidated your life savings and buy buy buy. Your expected value for each ticket is $20 when it only costs $1.
Realistically, you won't because there's only a 1 in 10 million chance you'll w...more
Imagine there is a lottery for $200 Million and each ticket costs $1. The odds of winning are 1 in 10 million. What should you do?
Mathematically, you should liquidated your life savings and buy buy buy. Your expected value for each ticket is $20 when it only costs $1.
Realistically, you won't because there's only a 1 in 10 million chance you'll w...more
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Practically speaking, poker) is too complex of a game for humans to analyze completely using math (it will eventually be done using computers). While this book provides detailed mathematically analyses of many poker "mini-games" the onus is on the reader to figure out how to apply that to his/her strategy in "real" games. Unfortunately, it is far from obvious as to how to go about doing this which probably explains why this issue is hardly addressed in the book.
I can't say honestly that I understand everything in this book, but I know that everything in it is pretty damn intelligent. If you like math and/or poker, this is a must-read. If you know any mathematicians or poker players (or anyone who happens to be both), you might ask them to translate it for you. Or at least draw you some pictures.
This is a fantastic poker book, it's a great math book, and it's a fabulous game theory book. I wish this were a textbook for a graduate course because that's the way it reads. I'm going to be going over the work in this volume again and again in order to understand the concepts. By far the best examination of poker I've encountered.
definitely good material in here, but the authors don't show how to apply it directly often enough. i know there is a lot of math in poker and i even get most of it. but i need an easy way to figure out if i should call a turn check raise or not, and that is too complicated for the math geeks to know.
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