Katie DeLong reports: A 50-year-old Waterford man is accused of beating up his own uncle over a $3 pot during a card game called “(Expletive) On Your Neighbor.”
Back on January 10th, officials responded to the 29000 block of Elm Island Drive in Waterford for a report of an assault.
There, officials spoke with a 69-year-old man who advised he was playing cards when his nephew, Scott Labisch attacked him — kicking him in the ribs multiple times. An officer observed small cuts above the man’s right eye, and the man said his nose bled as a result of the attack.
The man was taken to the hospital for treatment. There, he was diagnosed with non-displaced fractures to the three ribs, according to the criminal complaint.
Officials spoke with another man who indicated people were at his home playing cards when Labisch “beat up” his uncle over approximately $3 that was in the pot during the game. Another person confirmed the assault. Read the rest of this entry »
While other forms of gambling are useful, none offers the opportunity to develop real world skills like poker.
Matthew Rousu writes: Organizations that oppose gambling will often claim that gambling has no benefits. This isn’t true. Beyond the enjoyment we experience, many forms of gambling can teach useful skills. Blackjack, for example, teaches us about odds, variance, and money management. Placing bets on horse racing can also teach people an enormous amount on odds and probabilities, as betting on different horses offers different payouts for winning. Even those with limited mathematical backgrounds quickly learn that betting $5 on a horse with 14-1 odds will pay them back $70 for a win. Similar skills can be learned with sports betting.
While these and some other forms of gambling can provide some skill development, none offers the opportunity to develop real world skills like poker. It seems fitting that the most glamorous of all gambling games can teach us so much. After all, Mark Twain spoke eloquently about poker and it’s been played regularly in the Oval Office by many presidents. It is estimated that 70-80 million Americans play poker. While some play for low stakes and some play for high stakes, Americans love this game that combines instinct, mathematical ability, psychology, and luck.
Bluffing still matters, but the best players now depend on math theory
The World Series of Poker, 2010.
This growth over the past decade has been accompanied by a profound change in how the game is played. Concepts from the branch of mathematics known as game theory have inspired new ideas in poker strategy and new advice for ordinary players. Poker is still a game of reading people, but grasping the significance of their tics and twitches isn’t nearly as important as being able to profile their playing styles and understand what their bets mean.
In no-limit hold’em poker, the game used for the World Series championship, each player is dealt two private cards and attempts to make the best five-card hand that he can by combining his own cards with five cards that are shown faceup and shared by all players. Those cards are revealed in stages: The first three are the “flop,” the fourth is the “turn,” and the fifth is the “river.” Players can bet any amount they like at each stage.
Suppose you hold a pair of sevens, and before the flop is dealt you go all-in (bet all of your chips). One player calls your bet, and everyone else folds their hands. You both turn your cards face up, and you are happy to see your opponent show a pair of sixes. You are in great shape, since you have the better hand. But when the flop arrives, it contains a six, giving your opponent three sixes, and your own hand doesn’t improve, so you lose. Was your all-in play correct?
In terms of results, it wasn’t, because you lost all your chips. But according to the math of hold’em, a pair of sevens is favored to beat a pair of sixes 81% of the time. So if you can go all-in with sevens and get your bet called by players holding sixes over and over again, luck should even out, and eventually you will be a big winner.