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Showing posts from November, 2008

The Demographics Of Overconfidence

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Poker is considered the purest of games; and No Limit Holdem (NLH) is surely the purest of the "sacred" illnesses, also known as, addictions, because it is behavioral rather than chemical. see Grey Matters- In search of The All-In Molecule Gambling isn’t as scandalous as writing about it. You can’t be a poker blogger and not think about addiction. It’s like not thinking a bout death becaus e it lasts too long. More than that, there is very little difference biologically be tween what is going inside the head of a drug addict and a poker "pro". There is no shame, however, in being a Poker Pro, only in still being one, once you realize your brain made you re-buy. Furthermore, as the selfish brain fears death and looks for predictable experiences, poker is a great placebo that hijacks the brain with a predictable surprise: card players are surprised if they win and surprised if t hey lose. see: Poker= f(dopamine flow); Money= happiness in the United States of Un...

Nothing is the hardest thing to do in Poker

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Poker And Investing- Two Games of Incomplete Information On any given hand, poker is about 85% luck and 15% skill, but over the course of thousands of hands, it is the reverse - 15% luck and 85% skill. See Poker's Pattern's Are Not Our Own Mo' money is pissed away by players who know the right thing to do , but don't do it anyway. See My Brain Made Me Rebuy! The Poker Universe always has the first move. There’s uncertainty with every hand? Yes, it’s always a coin flip, not always 50/50, sometimes 60/40. This is not rocket science. It's brain surgery. Give yourself a poker lobotomy with Behavioral Finance. see What you think is right is wrong with your game. Behavioral finance can inform poker. Superlative performance is not just the ability to eliminate chance, but also to recognize opportunity, and, more importantly, when your LEFT brain gets good at telling your RIGHT brain what to do. Holdem is too random to be left up to chance.When you tr...

Putting the ODD(s) Back into The Godfather

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Why Players make irrational financial decisions. By the end of this post, you'll have a better understandin g of some of the anomalies (that's an S.A.T. bonus word) that Sklansky's Theory of Poker and Doyle's Super System have failed to explain. Warning: If you are over forty, please leave this blog because--- The truth will set you free but first it will piss you off. Poker witho ut money is an opinion. I got my hunting license--I am the sharpshooter that comes down from the hill after the battle to shoot the wounded, in this case, the dead. I'll give it my best shot. A is for Aces-- You(th) says “I want something new everyday.” and “I want to be surprised”. You(th) says, I'll play 3,4 suited , spot him the nuts and suck out. Brunson may be the Godfather of Poker , keeping his friends close and his enemies closer, but Peter Eastgate, is The Geekfather , through the numbness of numbers, Peter picked up the pieces of everyone else's mathematical dust...

The Moneymaker Effect--The Difference Between Betting And Gambling AT The WSOP FInal Table

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Poker is not a form of gambling---but gambling is a form of ---loose-aggressive--- poker that payed off last ni ght night at The Rio WSOP Final Table . SPOILER ALERT: We have a winner--- The face of poker now belongs to young Peter Eastgate . The stakes were high -and when the stakes are high, it's not about winning, it's about excelling, making good decisions. All gambling involves betting, but not all bets are gambling. It depends on how much control you have over the outcome and how much luck you think you have at the moment. Both players were aggressive and poker rewards aggression, but NLH is also a game of domination and Eastgate owned Demidov throughout the match. After 104 hands of heads-up action dominated almost entirely by the 22-year-old Dane, Eastgate turned the wheel straight. The Russian Demidov had two pair--so his money was going all in. Peter won the bracelet and a first prize totaling $9,152,416 becoming the youngest-ever WSOP Main Event-winner in ...

Poker’s Chemical Romance- DOPE-amine, The neuroeconomics of a good buzz

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Th e Dopamine Power Diet—In Search of the “All-In” Button "I' ll take things that I know for $1,000 Alex! NLH has the short-term effect of windfalls of buckets of luck. That generates a roller coaster ride of greed, invincibility and fantasy ---a flood of dopamine that signals to our bodies that something good has happened. It’s not the win, but the suggestion of it that generates pleasure in the brain, rewards anticipation. Now, for the first time, you can actually get inside the black box, when your game crashes with Neuroeconomics--making "emotional" decisions and their economic sigificance. Brain scientists , who with Hotel Anyware's help, will be the writing the new Super System and (behavioral)Theory of Poker. Chapter One Teaser: AN I for an I , 'See it with your mind's eye.' is so pre Twin Towers 9/11. Reif shows us that our mind is our eye.What we think is what we see, and what we see directs how we act. Not only does the authors mak...