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The Role of Skill versus Luck in Poker

    • mancikaa
      mancikaa
      Bronze
      Joined: 06.01.2010 Posts: 357
      An interesting read produced by two professor from University of Chicago about knowledge and luck factors in poker.

      Read here

      Abstract:

      In determining the legality of online poker – a multibillion dollar industry -- courts have relied
      heavily on the issue of whether or not poker is a game of skill. Using newly available data, we
      analyze that question by examining the performance in the 2010 World Series of Poker of a
      group of poker players identified as being highly skilled prior to the start of the events. Those
      players identified a priori as being highly skilled achieved an average return on investment of
      over 30 percent, compared to a -15 percent for all other players. This large gap in returns is
      strong evidence in support of the idea that poker is a game of skill.
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