The folly of playing poker in a casinos

image Recently I got the chance to read a interesting and thoughtful explanation of why playing poker in casinos are for chumps.

Essentially, the way it goes is:

  1. PLAYER COUNT:  You sit at a table with 10 other people.
  2. PLAYER STACK:  It’s usually typical to see a player come in with $300 in chips for a total of $2700 winnable at the table.
  3. HOUSE RAKE:  Every hand, the casino takes $4 in the house rake.
  4. HANDS/HOUR:  You play approximately 30 hands per hour.

Poker isn’t called “a grind” for nothing:  It’s a game of patience and waiting for the right moment to make one’s move is very important.  However in just 2 hours of play, at $4/hand, one player gets literally eaten alive by the house.  In just 8 hours, 4 out of the 10 players would be GONE, the equivalent of ~$1000 worth of cash, and that money isn’t winnable by you as a player any more.

Wow.  Not my kind of game.  Even with a nasty variance, I can do better at blackjack table.  Even with a crummy mathematical house edge of .4% and no advantage play at all, I can sit and play for hours with $300 at $3-$5 table with relatively minimal ‘risk of ruin’.

Besides.  I’ve got no poker face.  Makes me glad I chose not to play poker much a long time ago.  I don’t have the sophistication to watch my stack, their stack, the pot odds, my position, the play history of my opponents, how much they’ve bet, etc. 

I like my basic strategy card.  It’s important to know one’s limits.  [smile]

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