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Noticed an item in yesterday’s USA Today about online poker, a reference to a newly-published study about online poker called “Social and Psychological Challenges of Poker” by Kyle Siler, a doctoral student in sociology at Cornell University.

As usually happens with these articles that try to summarize a discipline-specific study for a wide audience, the USA Today piece boils Siler’s article down to one simple, easy-to-digest claim, essentially announcing that it shows “Poker wins often lead to bigger losses.” In other words, the USA Today article makes it sounds as though Siler’s exhaustive study of a large sample of online poker hands proves that players who win a little tend to lose it back and then some — confirming, in a way, the fears of those who object to poker and/or gambling as an inevitable road to ruin, regardless of one’s short-term successes.

The USA Today article is accompanied by a picture of 2009 World Series of Poker champion Joe Cada, who does not actually figure in the piece. I suppose there could be some implication here being advanced about the possibility of Cada’s not holding onto his winnings, but I think it more likely this was the first available poker-related photo that came up following a quick search.

I was curious to read the study, especially because the way it was presented in the USA Today article seemed more than a little sketchy. Took a little bit of work to get a look at it, but I did manage get a copy and have now read it through.

Siler speaks knowledgeably of poker and the online game, and as far as I can tell seems to be operating within accepted expectations for sociological research and argumentation. He also shows an understanding of economic theory and applies some of those ideas when appropriate. Siler additionally brings in many references to “poker literature” — both to strategy texts and to narratives — which help ground the study within conversations about theory and practice with which we poker players who have read those books are versed. Those references to people like Sklansky, Caro, Harrington, Brunson, and others also make the article more fun for poker players to read than probably would be the case with most dry, academic treatises.

All in all, I think Siler’s article is smart and interesting, and while its findings mostly confirm ideas we already had about what strategies are most successful his study is nonetheless useful for its having found support for those ideas in the data. I also think it is obvious that the USA Today writer probably only skimmed the study, coming away with a vague, uncertain understanding of its findings.

Here, let me take a shot at summarizing this sucker a little more carefully…

“Social and Psychological Challenges of Poker” by Kyle Siler appears in the latest issue of the Journal of Gambling Studies. Using Poker Tracker, Siler examines roughly 26.9 million hands of online poker played over a five-month period at different stakes in order to try to determine “which strategies are conducive to winning at these different levels,” and therefore perhaps draw some conclusions about the “social and psychological challenges” the game presents. The game on which Siler focuses is short-handed (6-max.) no-limit hold’em, and the hands he’s looking at come from games played at NL50, NL200, and NL1000. In all, he was able to gather and analyze stats on around 295,000 different players.

After crunching the numbers with Poker Tracker, Siler reaches a few conclusions which he does a good job explaining, also using charts and graphs to help him further illustrate what he has found. Those conclusions include his having discovered that

“tight and aggressive strategies have the best return across all levels”;

one finds “an increased proportion of aggressive players as one moves up stakes,” where also “the number of passive players decreases”;

there is an “overrepresentation of loose and aggressive players” among the biggest winners and the biggest losers at all stakes;

“None of the biggest winners at any of the levels were even close to being in the top hundred win rates,” having made their money via higher volume (the “grinders”);

“a high win percentage (i.e. the percentage of total hands won by a player) is negatively correlated with win rate.”

It is this last item that I think caused the USA Today writer to stumble a bit. The point there is that in no-limit hold’em winning a lot of pots doesn’t mean one wins a lot of money, and, in fact, when one looks at millions of hands like Siler did, one discovers that the big winners tend to win fewer (though bigger) pots relative to the rest of the player pool. That correlates with the first finding, namely, that the tight-aggressive strategy has the best return.

The USA Today writer took that point and mangled it into a declaration that “players who played a lot of hands and often won ended up losing more money than others.” He then quotes from Siler’s study in a way that makes it sound like Siler is agreeing with that somewhat vague claim, but he’s misrepresented Siler’s findings.

Siler does conclude the study with some thoughts about how moving up in stakes presents players with new challenges, and does a nifty job relating how the stress of adapting one’s style — necessary to succeeding at the higher levels — presents especially difficult “social and psychological challenges” to poker players. He ends with the point that “the biggest opponent for many players is themselves,” an idea familiar to any poker player who has struggled to improve his or her game.

Like I say, a smart study that I recommend if you can somehow get access to a copy. And I’m sorry to see it somewhat misrepresented in USA Today the way it was — that is, as seeming uncritically to confirm fears about poker as just another unhealthy avenue to degeneracy and self-destruction — and thereby soliciting further misinformed, unrelated comments like “this is the reason why the house always win[s]” and “that is why they call it gambling.”

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Over 2500 exhibitors, including more than 300 new companies and representatives will gather in Las Vegas this week to display, announce and unveil the latest and most innovative entertainment technologies, applications, games and software before they hit the market.

Known and the largest consumer technology trade show on the planet, the 2010 Consumer Electronics Show  (CES) will run from Thursday, January 7th to Sunday, January 10th at Las Vegas Convention Center, Las Vegas Hilton and The Venetian Resort and Casino. Attendees will have the chance to see, test and preview more than 20,000 new products on display, and enjoy 20 market-specific TechZones located throughout the Las Vegas Convention Center.

According to the show organizers, home and personal entertainment technology and connectivity and mobile devices will dominate this year’s International Consumer Electronics Show (ICES) exhibit floor. Electronic giants such as Samsung, LG Electronics, VIZIO, Sony and Matsushita (Panasonic, Sanyo, Toshiba, Sharp) are some of the companies exhibiting products such as 3D TVs and Blu-ray players, 72-inch borderless-TV models, 150-inch 3D projectors, Back Lit LCD TV’s, and many more. Magnetic 3D, the global-leader in glasses-free, auto-stereoscopic 3d solutions, will also unveil its 2010 product line at the Consumer Electronics Show, and will also host an invitation-only showcase at the Palazzo Resort and Casino in where guests will be able to experience and enjoy Magnetic’s “Ditch the 3D Glasses” technology.

Tablet and mini computers with “on screen”  keyboards and more powerful processors, game consoles, digital imaging products and wireless HD devices are also expected to be among the “most wanted” items at this week’s Consumer Electronics Show in Las Vegas. Lenovo, Intel, Nokia, HTC, Microsoft, Sonic Solutions, MSI, Sirius, Horizon, TranSwitch, Google, Beejive, ViewSonic, Logitech, Palm, Dell, T Mobile, JVC, Oppo Digital, Direct Tv, Motorola, Texas Instruments, ASUS, Nvidia and many more, will unveil the latest in portable computers, electronic book readers and mobile communications technology.

This year’s CES is also hosting a series of “green”conferences, keynotes and green gadget shows and demonstrations to present the latest in energy efficient and eco friendly products, as well as power-management devices, smart-energy-saving appliances, and more tools for managing your own power consumption. The show’s governing body, the Consumer Electronics Association, has also promised to buy carbon offsets and donate $50,000 to the Las Vegas police department to buy new electric vehicles.

“More technology deals will be made during the four days of CES than anywhere else on earth. In fact, each CES attendee has an average of 12 meetings while at the show, reinforcing CES as the business hub for technology. Innovation is flourishing within the technology industry and the 2010 CES is the only place to see it all.”  said Gary Shapiro, president and CEO, CEA

CES Exhibit hours:

Thursday, January 7: 10 a.m.-6 p.m.
Friday, January 8: 9 a.m.-6 p.m.
Saturday, January 9: 9 a.m.-6 p.m.
Sunday, January 10: 9 a.m.-4 p.m.

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For online poker sites to give back, that is. Lots of bonus programs and other incentives being doled out here at year’s end, it seems.

Been playing more on Full Tilt Poker than usual, mainly because of that bonus they offered me over there this month. Am still only having limited time to play, so I’ll probably only end up earning about half of the hundy they’re giving me in ten-dollar increments as I slowly accumulate those Full Tilt Points.

I continue to play primarily the $25 buy-in pot-limit Omaha games, usually six-handed, and usually only one or two tables at a time. Meaning I can only earn FTPs at a relatively slow clip.

I generally like the new lobby Full Tilt rolled out a few months back, although sometimes when looking for a game I find all of the little codes a bit headachy. Just a matter of getting used to them, I suppose. I have now and then unintentionally pulled up tables that feature certain variations on my desired game — e.g., the “cap” games, the “ante” games, the “deep stack” games. And every now and then I’ll even sit down at them before realizing my mistake. (It really doesn’t take much to confuse my jingle-brain.)

I have now and then purposely played the “cap” games — at my level, those games are capped at $10, meaning no player can put more than that in the middle on a single hand. Kind of pushes most of the play to the first two streets, as that limit tends to get reached with a raise and reraise on the flop. Basically requires everyone to play a short-stacker’s strategy, and I’ve found one often comes across one or two players at each table who are mainly just looking to gamble it up.

The “deep stack” games are the opposite, requiring at least 50 big blinds ($12.50) for the buy-in. One can also buy in for as much as $50 in these at the $0.10/$0.25 tables, so, really, if I’m a PLO25 player (as I am these days), I should be scooting back down a level rather than play these. Meanwhile, the “ante” games require everyone to kick in an extra nickel on top of the $0.10/$0.25 blinds, sweetening the pot a little more before that first action.

Otherwise, I’m strictly a PokerStars player. I do still have some cabbage over on Bodog, but only call that one up every once in a while as their poker room traffic is usually fairly low. PokerStars, meanwhile, always has a ton of tables going, and the site remains my personal fave for other reasons as well (the interface, support, etc.).

Speaking of bonuses, I got an email yesterday from PokerStars passing along their plans to change and add to their rewards system. Once again they are lowering the requirements to reach Silver Star, making it necessary only to accumulate 750 VPPs in a month to get there. That’s down from the current 1,200, and way down from the 2,000 it was when the VIP program was first introduced back in 2006. (I don’t believe they are lowering the requirements for the other levels: e.g., still 3,000 VPPs to get to Gold, 7,500 for Platinum, etc.)

Another new feature will be something called the “VIP Stellar Rewards” program which essentially gives extra cash for playing.

To clarify, FPPs are “Frequent Player Points,” and one earns those according to how much rake is collected. FPPs can be used to purchase various items or cash, or used to enter tourneys. VPPs, or “VIP Player Points,” are earned the same way, but cannot be redeemed — they are just to gauge where you are status-wise. However, if you move up a level, you can earn FPPs more quickly (e.g., Silver Stars get 1.5 FPP for every 1 VPP). Make sense? If not, you can read more here.

Anyhow, this “VIP Stellar Rewards” thing basically gives players extra cash on top of all the other benefits of the VIP program. Starting on January 1, 2010, everyone begins a new yearly balance of VPPs. Once you reach 750 VPPs total, you can spend just one FPP and pick up ten bucks. Then, when you get to 1,500, you get another $10. And so forth according to the schedule (see the table at left). As a recreational player, I’ve earned a little over 13,000 VPPs this year. If I earn the same number next year, I’ll pick up an additional $150.

I might be encouraged, though, to pick up the pace a little — indeed, there were a couple of months in there during which I earned 2,500-3,000 VPPs or so, so I know I can probably easy pick up more.

Definitely like the way Stars is gearing these programs toward the small-timers, giving them a little bit here and there to keep ’em playing. Seems like a smart strategy. It’s always nice to be constantly getting something back while playing, meaning that even a break even session is technically going to be a small winner.

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Stop playing like a teenage girl and start betting like a real woman. That’s the message author Ellen Leikind wants to transmit though her new book PokerWoman: How to win at Love, Life. The author also gives a different perspective of the game, showing women how to apply winning poker strategies to personal relationships, life and business – even if they’ve never played before.

“Poker isn’t just a card game: It’s a metaphor for life “As I often tell women. You’ve been playing poker your whole life whether you know it or not,” Leikind said.

A successful marketing executive who spent 15 years in the corporate world working for several Fortune 500 companies, Leikind decided to take a hiatus from her career and rediscovered poker, a game she had learned as a teenager. It was at that time she first made the connections explored in her book.

“The more I played poker, the more I saw the similarities between the card game and the larger ‘game’ of business and personal fulfillment.” Leikind said.
That experience inspired Leikind to found Poker Prima Divas, a company that provides corporate programs and entertainment to teach women to use the principles acquired at the poker table to enhance their business skills.

PokerWoman is not the usual “how to play” book, instead, the author uses poker to show women how to achieve their personal goals. Regular poker elements and concepts such as reading other players, knowing when to change gears and be aggressive, and how to assess risk are all illustrated using personal stories from successful women.

PokerWoman her message is really about empowerment, Leikind has attracted support from poker players and advice experts alike.

“Poker strategies can enable you to achieve your goals—in your career or in your personal life. Find your strengths and capitalize on them. Recognize your weaknesses and learn from them. This book will furnish you with the tools to do both.”  says Kathy Liebert, a top poker tournament player

For many decades, poker has been traditionally associated with men, however, Leikind encourages women to learn the game and use poker strategies to overcome their fears and doubts, establish plans and claim their rightful seat at the table.

“Forget golf! For women, the new way to the boardroom is Texas Hold ‘Em. The skills you learn at the poker table—strategy, bluffing, risk evaluation and maintaining that good old poker face—make you a better executive” commented Jane Bryant Quinn, author, Smart and Simple Financial Strategies for Busy People.

A 224-page hardcover book, PokerWoman: How to Win at Love, Life, and Business using the Principles of Poker is available for $24.00 US on WDIAV Shopping Section. For more information, please click here.

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