The Mathematics of Poker

Overview

Thirty years ago the bond and option markets were dominated by traders who had learned their craft by experience. By the mid-1990s the old school grizzled traders had been replaced by a new breed of quantitative analysts, applying mathematics to the "art" of trading and making of it a science. A similar phenomenon is happening in poker. The grizzled "road gamblers" are being replaced by a new generation of players who have challenged many of die assumptions that underlie traditional approaches to the game. One of...
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Overview

Thirty years ago the bond and option markets were dominated by traders who had learned their craft by experience. By the mid-1990s the old school grizzled traders had been replaced by a new breed of quantitative analysts, applying mathematics to the "art" of trading and making of it a science. A similar phenomenon is happening in poker. The grizzled "road gamblers" are being replaced by a new generation of players who have challenged many of die assumptions that underlie traditional approaches to the game. One of the most important features of this new approach is a reliance on quantitative analysis and the application of mathematics to the game. This book provides an introduction to quantitative techniques as applied to poker and to a branch of mathematics that is particularly applicable to poker, game theory, in a manner that makes seemingly difficult topics accessible to players without a strong mathematical background.
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Product Details

  • ISBN-13: 9781886070257
  • Publisher: ConJelCo, LLC
  • Publication date: 11/30/2006
  • Edition description: 1ST
  • Pages: 382
  • Sales rank: 341,258
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.90 (d)

Table of Contents


Acknowledgments     vii
Foreword     ix
Introduction     1
Basics
Decisions Under Risk: Probability and Expectation     13
Predicting the Future: Variance and Sample Outcomes     22
Using All the Information: Estimating Parameters and Bayes' Theorem     32
Exploitive Play
Playing the Odds: Pot Odds and Implied Odds     47
Scientific Tarot: Reading Hands and Strategies     59
The Tells are in die Data: Topics in Online Poker     70
Playing Accurately, Part I: Cards Exposed Situations     74
Playing Accurately, Part II: Hand vs. Distribution     85
Adaptive Play: Distribution vs. Distribution     94
Optimal Play
Facing The Nemesis: Game Theory     101
One Side of the Street: Half-Street Games     111
Headsup With High Blinds: The Jam-or-Fold Game     123
Poker Made Simple: The AKQGame     140
You Don't Have To Guess: No-Limit Bet Sizing     148
Player X Strikes Back: Full-Street Games     158
Appendix to Chapter 15 The No-Limit AKQ Game     171
Small Bets, Big Pots: No-Fold [0,1] Games     178
Appendix to Chapter 16 Solving the Difference Equations     195
Mixing in Bluffs: Finite Pot [0,1] Games     198
Lessons and Values: The [0,1] Game Redux     216
The Road to Poker: Static Multi-Street Games     234
Drawing Out: Non-Static Multi-Street Games     249
A Case Study: Using Game Theory     265
Risk
Staying in Action: Risk of Ruin     281
Adding Uncertainty: Risk of Ruin with Uncertain Win Rates     295
Growing Bankrolls: The Kelly Criterion and Rational Game Selection     304
Poker Finance: Portfolio Theory and Backing Agreements     310
Other Topics
Doubling Up: Tournaments, Part I     321
Chips Aren't Cash: Tournaments, Part II     333
Poker's Still Poker: Tournaments, Part III     347
Three's a Crowd: Multiplayer Games     359
Putting It All Together: Using Math to Improve Play     370
Recommended Reading     376
About the Authors     381
About the Publisher     382
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