Monday, August 28, 2006
Poker Economies - part 2 - The 1-time Wonders
So I didn't cash in the tournament Saturday (45 people), but I faired good in the cash game (No Limit Hold'Em). I continue to run good. I think this is 9 cash game winning sessions out of the last 11. Note to self-I think I better start to work a little harder on my NLHE cash game if this is going to be the cash game of choice.
I had an observation about "one time wonders". I've been playing for about 3 years. In that time, I've probably played with around 50-100 people on a semi-regular basis. I've also played with around 100 "one time wonders" - players who join the game, drop some money, and are never seen again. I'm sure these players are 'contributors' to the poker economy, but there is simply not enough of them, loosing enough money to drive this economy. There has to be additional contributors.
So how does the poker economy work? I'm pretty sure that there has to equilibrium - equal amount of money lost as money won. One way to explain this is that everyone breaks around even in the long run. I've even read estimates on the microscopically small number of long term winners in poker.
I'm really starting to believe that there must be several of the "good" "regular" players contributing as well. If I'm right, then the question is "what is in it for them?" Why do they keep playing if they are contributors? I think the answer might be that they play for the social aspect, they play to have fun, they play to work on their game, they are only loosing temporarily, they make money at the casino - so they can still loose at the home games, they make money on the internet, etc....
Tip of the day, keep detailed records of your wins/losses. Know if you are a taker or a giver. Be honest. Also, to keep the economy alive, make sure to take care of the contributors - be social, have fun, etc....
After all, I may be a long term contributor to this economy as well and I'm only now on the temporary upward sloping portion of a winnings chart....naw!
I had an observation about "one time wonders". I've been playing for about 3 years. In that time, I've probably played with around 50-100 people on a semi-regular basis. I've also played with around 100 "one time wonders" - players who join the game, drop some money, and are never seen again. I'm sure these players are 'contributors' to the poker economy, but there is simply not enough of them, loosing enough money to drive this economy. There has to be additional contributors.
So how does the poker economy work? I'm pretty sure that there has to equilibrium - equal amount of money lost as money won. One way to explain this is that everyone breaks around even in the long run. I've even read estimates on the microscopically small number of long term winners in poker.
I'm really starting to believe that there must be several of the "good" "regular" players contributing as well. If I'm right, then the question is "what is in it for them?" Why do they keep playing if they are contributors? I think the answer might be that they play for the social aspect, they play to have fun, they play to work on their game, they are only loosing temporarily, they make money at the casino - so they can still loose at the home games, they make money on the internet, etc....
Tip of the day, keep detailed records of your wins/losses. Know if you are a taker or a giver. Be honest. Also, to keep the economy alive, make sure to take care of the contributors - be social, have fun, etc....
After all, I may be a long term contributor to this economy as well and I'm only now on the temporary upward sloping portion of a winnings chart....naw!
