Saturday, August 31, 2013

Profiting in the Gambling Economy: Do You Have The Skill to Play Poker??


Here is an interesting article on one's view of poker.

# Casino Mogul's Comment Should Infuriate Every Serious Poker Player
JOE WEISENTHAL JUN. 20, 2013, 4:05 PM 1,659 4
Sheldon Adelson was on BloombergTV earlier, arguing against the legalization of online gambling.

As the CEO of Las Vegas Sands, a big physical casino company, his opposition to online gambling is understandable, except... he says it's not about the money or the business. Instead he says, it's all about how online gambling is bad for society, since gamblers can get so hooked.

During the interview he also made a comment that should infuriate poker players.  He says there should be no special exemption for online poker, since it's a game of luck, not skill.

Here are his exact words:
On not making an exception for the skills based Poker:

“That skill base is, in my opinion, just a bunch of baloney. To get a card is not skill base. I know people say it is skill based, but it’s just so they can categorize it in a certain segment.”

On making an exception for online poker:

“Absolutely not. Look, I’m a father, grandfather. I do not want my children – I’m a veteran of the Korean War. I do not want my children to have the opportunity to become addicted to gaming. And poker, in my opinion, would become one of the most addictive games. People do not get addicted to necessarily playing blackjack. They get addicted for the game. It is one of the many compulsive behaviors and somebody is addicted to gaming, they are addicted to some other compulsive behaviors. Can you tell me one good reason why internet gaming should be allowed.”

That poker is a game of skill, not luck, is an article of faith among avid poker players.

Sure, you can have a bad beat here or there, or maybe someone flops a set of aces to beat your set of kings, but the idea is that that's just noise, and that because poker is a game of skill over time the better player will win out.

Anyway, because poker pros argue that it's a game of skill, they think that even if online gambling remains broadly illegal, that online poker should perhaps still be eligible to be played online. And so for Adelson, it's important to slam poker to make his broader anti-online gambling argument.

source: http://www.businessinsider.com/sheldon-adelson-says-poker-is-a-game-of-luck-2013-6

The Skill
"I found out the way your mind works and the kind of man you are. I know your plans and expectations - you've burbled every bit of strategy you've got. I know exactly what you will do, and exactly what you won't, and I've told you exactly nothing. To these aged eyes, boy, that's what winning looks like!  ..." - Henry II   [ The Lion in the Winter  ]

To properly compete in this venue or any aspect of the information economy, reading and understanding the behavior of people is considered to be an unique skill.  In most instances, one does not learn it from reading a book.  

Reading a manual repeatedly, does not always mean that the reader will master the principles and the protocols  


In a situation of randomness, the successful strategists play the players not the cards.  They quietly focuses on the body language of each player by identifying the various tells from each players.

During gametime, the practice of reading the actions of their counterparts while playing the cards, is the standard play.  Plausible deniability of that practice is also the norm for some players.  ...  Those who know, will not say. Successful strategists have always play that game quite well. ...

The Practice

Strategy requires thought.  
Tactics requires observation. - Max Euwe

Studying the variations and patterns quietly and determine what is the truth.

Clue: Stay centered and pay attention to the breathing, the balance and the rhythm of their actions.

Be aware that there will be various acts of deception from the advanced players. They will stage the novice players by by shaping their perspective.

Read this post if you want to build that mindful awareness skill.  Getting these skills from a book will not help most of our readers. Those who possessed the high mindful awareness skill, will know what attributes are influencing around their settings, will succeed.  ...  You can find more information on this unique topic by visiting Cook Ding's Kitchen.

Another tip that will benefit you is to script a gameplan before the game begin.  

The height of any reward is usually proportional to the height of planning. The reasoning behind that point should be obvious.  ... If not, we will explain it in a future post.

Comments From The Compass Desk
There is a balance of chance and skill in the game of poker . While the distributing of cards determines the chance factor, the skill is in the process of assessing, positioning and influencing.

This unqiue skill is based on these three steps:
  • Assessing of the competition and oneself before making the proper decision. 
  • Positioning oneself toward an advantageous state while shaping the competition into a projected state of zero
  • Influencing the target begins by implementing the first move advantage
Click here for a example where some one property assessed everything in his grand competitive setting and won.

Compass Rule: The completeness of information determines the risk, the uncertainty and the volatility of any venture. Non information transparency occasionally usually mn, there will be deception in most cases. ...

Whether it is poker or any competitive venture, securing information and assessing it properly and promptly, is the name of the game. While searching for transparency, they will discover deception.

Final Thoughts
While the the amateurs believed that strategy is a by-product not a process., the professionals emphasized that strategy is a process that leads to a projected product.

We will present a example on how to apply our Art of War principles-driven scenario modeling process to the game of poker in a future post.
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