Is poker a game of chance?
Interesting blog post here about Poker (Skill vs Chance):
http://www.freakonomics.com/blog/2007/05/03/poker-skill-vs-chance/
The most interesting part is the summation at the bottom:
Using the same very simple argument you can argue that trading is not a game of chance but that it's a skill.
The often debated subject "is trading gambling?" would be better phrased as "is trading a game of skill or chance?" - using the above logic we would state that trading is a game of skill and certain casino games were games of chance.
http://www.freakonomics.com/blog/2007/05/03/poker-skill-vs-chance/
The most interesting part is the summation at the bottom:
quote:
The gist is this: forget about winning at poker, and think for a moment about losing. Is it possible to intentionally lose a poker game?
The answer is yes, of course. Is it possible, meanwhile, to intentionally lose a game like Baccarat or roulette or craps?
No, it’s not — which means that you have no control over the outcome, which means that they are entirely games of chance. And which means, in Duke’s argument, that poker, therefore, is not.
Using the same very simple argument you can argue that trading is not a game of chance but that it's a skill.
The often debated subject "is trading gambling?" would be better phrased as "is trading a game of skill or chance?" - using the above logic we would state that trading is a game of skill and certain casino games were games of chance.
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