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by rubiquity
3983 days ago
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> - Many of the best poker players in the world have bankrupted or have had to take deep loans to continue playing.' That's because it turned out that those players weren't actually the best players in the world. Poker saw a huge birth of statistical analysis from 2002-2008 when Online Poker was legal/legal enough in the US. People who only played live (in person at a casino) their entire career might only play 50k-200k hands. When online poker came about you could play 200k hands in a month. It turns out these so called "best in the world players" were just on a really good run. It also turns out it takes millions upon millions of hands to really find out if you're truly a winner or just benefitting from the good side of variance. This affect gets even worse because the so-called "Best players in the world" were MTT players and MTTs have the highest statistical variance of all. I have friends who are still poker pros. Next to Asian businessman, the only other player they would rather have at their tables are "Television Pros." |
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People don't go broke in poker because the rake is too high. They go broke, by and large, because they aren't good enough to beat their opponents. It's still a skill game in the long run.
A lot of poker players (even some great players) move up stakes too quickly. In other words, they play above their bankroll.
Many poker players also have 'off the felt' problems like, ironically enough, losses accrued from gambling on blackjack, craps, etc.