Navigation Links
Novice Poker Players Don't Know When to Walk Away

Analysis finds luck usually runs out for those who don't understand risk

SATURDAY, Jan. 16 (HealthDay News) -- Play more online poker and you'll get better and win, right?

Wrong, says a new study of gambling behavior that suggests players -- especially beginners -- win less money the more hands they play.

The findings, which came from a study of 27 million online poker hands, suggest that small stakes translate to more wins, while playing longer means you'll lose, occasionally by a whole lot.

According to Cornell University sociology doctoral student Kyle Siler, the findings show that "people overweigh their frequent small gains vis-a-vis occasional large losses, and vice versa."

The study, released online in advance of publication in an upcoming print issue of the Journal of Gambling Studies, also reports that pairs of small-numbered cards -- from twos to sevens -- are more valuable than pairs of eights, nines, 10s and Jacks for small-stakes players.

"This is because small pairs have a less ambiguous value, and medium pairs are better hands but have more ambiguous values that small-stakes players apparently have trouble understanding," Siler said.

Siler, a poker player himself, analyzed hands of No-Limit Texas Hold'em. "Riskiness may be profitable, especially in higher-stakes games, but it also increases the variance and uncertainty in payoffs," he said. "Living one's life, calibrating multiple strategies and managing a bankroll is particularly challenging when enduring wild and erratic swings in short-term luck and results."

More information

U.S. National Library of Medicine has details on compulsive gambling.

-- Randy Dotinga

SOURCE: Cornell University, news release, January 2010

Copyright©2010 ScoutNews,LLC.
All rights reserved

Related medicine news :

1. Free Ask a Doctor Online Services Can Save Lives with Both Expert and Novice Input
2. Sitting at the Virtual Poker Table: Results From First Ever Epidemiological Study of Actual Internet Poker Gaming Behavior, in Press
3. Supermodel Helena Houdova & Roberta Armani Host 2nd Annual Sunflower Children Poker Benefit
4. Gamma Labs to Boost Testosterone At World Series of Poker In Las Vegas
5. Small Businesses In Singapore Outmarkets & Outperforms Bigger Players in Tough Economy With Online Marketing
6. Reportlinker Adds EMR 2010 (Market Analysis, ARRA Incentives, Key Players, and Important Trends)
7. Oversized College Football Players May Face Heart Risks
8. Reportlinker Adds Key Players and Innovative Start-Ups in Nutraceuticals: Emerging Strategies in Ingredients, Pharma, Food and Drinks
9. St. Andrews Country Club Announces Dates and Players for Third Annual Morgan & Friends Fight Cancer Tournament
10. Young tennis players who play only 1 sport are more prone to injuries
11. House Judiciary Committee Hearing Calls Attention to Long-Term Effects of Head Injury Among NFL Players
Post Your Comments:
(Date:10/13/2017)... ... ... As health professionals work to improve their approach to healthcare, there is a ... filling out a survey; in many cases health professionals and patients are working together ... research on the importance of active engagement with patients and members of the public ...
(Date:10/13/2017)... Las Vegas, Nevada (PRWEB) , ... October 13, 2017 , ... ... of 7® Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum ... CBD dose required and providing a CBD form that can be easily incorporated into ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance ... care insurance companies have a waiver for care if the client has a cognitive ... the family pays for care, is often waived, so the benefits from their insurance ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Yisrayl Hawkins, ... week that explains one of the most popular and least understood books in the ... cryptic and puzzling descriptions that have baffled scholars for centuries. Many have tossed it ...
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: ... “America On The Brink” is the creation of published author, William Nowers. ... As a WWII veteran, he spent thirty years in the Navy. Following ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... , Oct. 2, 2017 Diplomat Pharmacy, Inc. ... Day Software and Consulting, LLC , and named its ... Software, based in Tennessee , will ... Day expands EnvoyHealth,s service offerings for health care partners ... "In an interoperable world, ...
(Date:9/28/2017)... CHICAGO , Sept. 28, 2017 Hill-Rom ... quarter 2017 earnings conference call and webcast on Friday, ... 8:00 a.m. (EDT) and ending at approximately 8:30 a.m. ... to discussing the company,s 2017 financial performance and guidance ... growth opportunities, initiatives to enhance operational performance, and long-range ...
(Date:9/25/2017)... PROVIDENCE, R.I. , Sept. 25, 2017 /PRNewswire/ ... immunogenicity assessment, vaccine design, and immune-engineering today announced ... focused on the development of personalized therapeutic cancer ... and has provided exclusive access to enabling technologies ... MSc Eng., MBA will lead EpiVax Oncology as ...
Breaking Medicine Technology: