Psychology & Psychiatry

How poker machines create addicts and rob them blind

Australians lose A$20 billion on gambling every year, $11 billion of which goes on poker machines in pubs and clubs. Why, then, are pokies so attractive? And why do we spend so much on them?

Psychology & Psychiatry

Study suggests poker 'arms' better tell than poker 'face'

(Medical Xpress)—A team of researchers at Tufts University has found that college students are better able to gauge the confidence a poker player has in his or her hand watching their arm movements versus studying their ...

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Poker

Poker is a family of card games that share betting rules and usually hand rankings. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown (in some games, the pot is split between the high and low hands), limits on bet sizes, and how many rounds of betting are allowed.

In most modern poker games, the first round of betting begins with some form of forced bet by one of the players. In standard poker, each player is betting that the hand he has will be the highest ranked. The action then proceeds clockwise around the table and each player in turn must either match the maximum previous bet or fold, losing the amount bet so far and all further interest in the hand. A player who matches a bet may also "raise," or increase the bet. The betting round ends when all players have either matched the last bet or folded. If all but one player fold on any round, then the remaining player collects the pot and may choose to show or conceal their hand. If more than one player remains in contention after the final betting round, the hands are revealed and the player with the winning hand takes the pot. With the exception of initial forced bets, money is only placed into the pot voluntarily by a player who, at least in theory, rationally believes the bet has positive expected value. Thus, while the outcome of any particular hand significantly involves chance, the long-run expectations of the players are determined by their actions chosen on the basis of probability, psychology and game theory.

Poker has gained in popularity since the beginning of the 20th Century, and has gone from being primarily a recreational activity confined to small groups of mostly male enthusiasts, to a widely popular spectator activity with international audiences and multi-million dollar tournament prizes, with women being a constantly growing part of that audience.

This text uses material from Wikipedia, licensed under CC BY-SA