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Poker Discussion
General Poker
Is poker "gambling"?
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[QUOTE="KoRnholio, post: 1632036, member: 2445"] Under definition #1 you are correct, it is gambling. Under definition #2 (the most accurate definition of gambling, IMO) poker isn't necessarily gambling. Let's consider some basic examples. 1) I offer to let you roll one 6-sided die ONCE at a cost of $1. If you roll a 6, I give you $5, any other number you win nothing. This is slightly -EV. As for risk, is losing $1 or winning $5 really "risky"? Maybe to some it is. Verdict: Probably gambling 2) I offer to let you roll one 6-sided die ONCE at a cost of $1. If you roll a 6, I give you $7, any other number you win nothing. This is slightly +EV. As for risk, you are again losing $1 or winning $7. Is it "risky"? 5 out of 6 times you are still losing the same $1, and only winning $2 more than the previous example if you win. Verdict: Probably still gambling 3) I offer to let you roll one 6-sided die ONCE at a cost of $1000. Whether I let you roll with a positive or negative EV, I'd still say it's gambling either way now, since you are just allowed to do it ONCE and now the stakes are high, increasing the risk. Verdict: Definitely gambling 4) Now let's say I will let you roll the dice [b]as many times as you want[/b] in the +EV scenario, and you have enough of a bankroll to ride out any downswings/losing streaks. Is this gambling? If you roll the dice enough times in the +EV game that you are properly bankrolled for, there is no risk. You aren't "hoping" to win. You will mathematically/statistically come out a winner. Notice that we need certain conditions to be sure to win: - not limited to a single or small number of tries/games - an appropriate bankroll to ensure we are able to reach our expected +EV Verdict: Likely not gambling Some additional notes- True, there will never be 0 risk in practice. Even being "properly" bankrolled means there is still a tiny chance of going broke. Just the same as each time you cross the street there is a tiny chance that you'll be hit by a car. But crossing the street isn't considered "risky" because that risk is so small it isn't even considered a risk. [/QUOTE]
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