Toward Legalization of Poker: The Skill vs. Chance Debate

This paper sheds light on the age-old argument as to whether poker is a game in which skill predominates over chance or vice versa. Recent work addressing the issue of skill vs. chance is reviewed. This current study considers two different scenarios to address the issue: 1) a mathematical analysis supported by computer simulations of one random player and one skilled player in Texas Hold\u27Em, and 2) full-table simulation games of Texas Hold\u27Em and Seven Card Stud. Findings for scenario 1 showed the skilled player winning 97 percent of the hands. Findings for scenario 2 further reinforced that highly skilled players convincingly beat unskilled players. Following this study that shows poker as predominantly a skill game, various gaming jurisdictions might declare poker as such, thus legalizing and broadening the game for new venues, new markets, new demographics, and new media. Internet gaming in particular could be expanded and released from its current illegality in the U.S. with benefits accruing to casinos who wish to offer online poker

Exploring gambling practices in work and educational environments

The question arises to what extent gambling techniques and theories can actually enhance the educational and transferable skills process as appropriately applied? Could a set of programmes be built into the process as a tacit preventative measure at the vulnerable stages of early life? At present, we do not really know the answer to these questions but it is certainly feasible. The question remains of whether it is desirable. This article therefore examines many of the alleged skills used in gambling situations and attempts to apply them to the workplace

Online Convex Optimization for Sequential Decision Processes and Extensive-Form Games

Regret minimization is a powerful tool for solving large-scale extensive-form games. State-of-the-art methods rely on minimizing regret locally at each decision point. In this work we derive a new framework for regret minimization on sequential decision problems and extensive-form games with general compact convex sets at each decision point and general convex losses, as opposed to prior work which has been for simplex decision points and linear losses. We call our framework laminar regret decomposition. It generalizes the CFR algorithm to this more general setting. Furthermore, our framework enables a new proof of CFR even in the known setting, which is derived from a perspective of decomposing polytope regret, thereby leading to an arguably simpler interpretation of the algorithm. Our generalization to convex compact sets and convex losses allows us to develop new algorithms for several problems: regularized sequential decision making, regularized Nash equilibria in extensive-form games, and computing approximate extensive-form perfect equilibria. Our generalization also leads to the first regret-minimization algorithm for computing reduced-normal-form quantal response equilibria based on minimizing local regrets. Experiments show that our framework leads to algorithms that scale at a rate comparable to the fastest variants of counterfactual regret minimization for computing Nash equilibrium, and therefore our approach leads to the first algorithm for computing quantal response equilibria in extremely large games. Finally we show that our framework enables a new kind of scalable opponent exploitation approach

Learning under uncertainty: a model-based approach for understanding gambling behaviour

Gamblers in the real world have been found to successfully navigate complex multivariate problems such as those of poker and the racetrack but also to misunderstand elementary problems such as those of roulette and dice. An account of gambling behaviour must accommodate both the strengths and weaknesses of decision making and yet neither of the dominating decision making traditions of heuristics and biases or Bayesian rational inference does. This thesis presents evidence supporting a model-based approach for studying gambling behaviour. The account is built on the premise that decision making agents hold a highly structured mental representation of the problem that is then refined through adjustments made by evaluating incoming evidence. In Study 1, roulette games played at a casino illustrate the range of tactics beyond simple data-driven strategies that are used in chance-based games. In Study 2, an experimental manipulation of the framing of a chance-based dice game highlights the role of prior beliefs about underlying outcome-generating processes. Studies 3 and 4 examine the impact of prior beliefs on subsequent information processing, using a laboratory-based slot machine paradigm. To complement these findings on a computational level, a modelling exercise in Study 5 shows indirectly that assuming a similarity mechanism of judgment is insufficient for predicting the impact of prior beliefs over time. Studies 6 and 7 used racetrack and poker betting experimental paradigms to show that, although priors were integrated into decisions without evaluation, incoming evidence underwent information search and hypothesis and data evaluation processes. Implications for users of gambling research and for future directions of the field are discussed

Mom, Dad It’s Only a Game! Perceived Gambling and Gaming Behaviors among Adolescents and Young Adults: an Exploratory Study

Gambling and gaming are increasingly popular activities among adolescents. Although gambling is illegal in Portugal for youth under the age of 18 years, gambling opportunities are growing, mainly due to similarity between gambling and other technology-based games. Given the relationship between gambling and gaming activities, the paucity of research on gambling and gaming behaviors in Portugal, and the potential negative consequences in the lives of young people, the goal of this study was to explore and compare the perceptions of these two behaviors between Portuguese adolescents and young adults. Results from six focus groups (three with adolescents and three with young adults, comprising 37 participants aged between 13 and 26 years) indicated different perceptions for the two age groups. For adolescents, gaming was associated with addiction whereas for young adults it was perceived a tool for increasing personal and social skills. With regard to gambling, adolescents associated it with luck and financial rewards, whereas young adults perceived it as an activity with more risks than benefits. These results suggest developmental differences that have implications for intervention programs and future research