Online gaming, including poker, has gained immense popularity over the last few years. However, it is still not accepted by a large group of people because the game has a close association with gambling.
For a long time, poker meant smoky casinos and people walking away, losing a fortune. But times have changed. Poker enthusiasts are more responsible now. The government has recognized it as a skill-based game.
Seasoned players treat poker as more of an investment, and some of them even have spreadsheets with detailed calculations and long-term strategies.
If you are still wondering whether investing time and money in poker is reasonable, you’ve come to the right place. We will discuss all the nuances of poker and whether it is worth it.
However, before we dive into the topic, let’s first answer the primary question. What is gambling and investing?
What Is Gambling?
Gambling is simply putting your money into something and just hoping for a favorable outcome. You don’t have any control over what happens next. Think about spinning a roulette wheel. It’s fun. You roll the wheel. You cross your fingers. And, you pray you get the desired outcome.
Gambling tickles your dopamine, but it is also immensely unpredictable. It does not involve any strategy or calculation for long-run success. You might be lucky at times, but unlucky at most. But you still keep coming back, because it is thrilling. The thrill of getting a big win, even though you know you might not achieve it.
What Is Investing?
Investing is a whole new game. It’s like planting a seed, nurturing it, and watching it grow over time. You need planning, patience, and a bit of research. Lucky guesses rarely work in investing. You make decisions based on information, trends, data, and statistics.
We closely associate investing with fields like stocks, real estate, and or any asset. Why? Because you put in money that grows over time. Of course, you need to calculate risks and weigh your options, but it ultimately results in gains.
Unlike gambling, investing does not always give you an adrenaline rush. But it is methodical. You need to have a clear goal in mind and move strategically, rather than just acting on a hunch. Sure, nothing is guaranteed, but at least you have some things under control, and with the right approach, you can turn the tables in your favor.
Is Poker Gambling?
Take a moment to think about this—why do people consider poker gambling? Because there is a risk with no guaranteed outcome? Well, then by that logic, even stocks and health insurance are a gamble because anything might go wrong. What if you lose a massive amount on stocks? Or, what if you meet with an accident and the health insurance fails to cover the costs?
While luck might play a small part in poker, most of it involves skills. Every move in poker consists of evaluating probabilities, reading opponents, and managing risks. You don’t make guesses; you take calculated decisions.
Seasoned poker players win consistently. Because they are lucky? No, because they have a strategy. They know when to fold and when to bluff. All based on match and psychology. Even if they have to lose a hand, they are playing for the long game.
Here Is Why Poker Is More Than Just Gambling:
You may have wondered this several times in your life. Finally, we are answering it with the points below:
Probability—A Game Of Math
Poker is a game of math. Every decision you make at the table is calculated using probability. Players calculate the odds of improving their hand. You follow trends and consider previous data to make decisions. It is not like flipping a coin. In poker, every decision has some reasoning.
Strategy—Ace With Strategy, Not By Chance
Poker stands out because of its strategic gameplay. Your decision to make a move depends on your position at the table. You look at the action before and your opponent’s previous moves. You might not have the best cards, but the right strategies can make or break a game.
Skills—Brush Your Skills To Enjoy The Thrills
In games like roulette, it does not matter how much experience you have. You cannot influence the results. But in poker, the more you practice, study, and analyze, the better you get at the game. Experts spend years mastering the game’s technique.
Poker: Game Of Skill or Luck?
The debate has been on for years—whether poker and similar online games are a game of skill or pure luck. Some are in favor of the game, while some are against it. However, we will state facts so that you can make an informed choice.
On the surface, poker looks like a game of luck. Or at least that’s what we have been told to believe. But people who have been playing the game for years and winning will say otherwise.
In a two-player poker match, both players receive the same hand, so there is no bias at play here. What leads one player to win and another one to lose is based on how the players understand the situation and their knowledge about the game. Seasoned players cling to their specific strategy. Moreover, they use logical and critical thinking skills to make each move.
It is not just our words. Several governments and courts have officially recognized poker as a game of skill. In India, high courts in multiple states have stated that poker formats like Texas Hold’em require more skills. So, it should not be classified under traditional gambling laws. Even in the U.S., there have been various legal decisions that highlighted poker as a game of strategy and skill.
What Experts Have to Say?
First, let’s look at the professionals. Daniel N., the famous poker player and a six-time World Poker Series winner, has mentioned that “luck may win you a session, but skill wins you a career.” He believes that discipline and game theory are skills honed over the years. It is not something you can pick up overnight.
As we already mentioned, courts had ruled in favor of poker being a game of skill. In 2012, a U.S. district court made a statement regarding a case that “poker is predominantly a game of skill.” They cited expert testimony and statistical analysis showing that experienced players have consistently won because of their skills.
If you do a Google search on published papers about whether poker is a game of skills or not, you will see several studies done by doctors and economists stating that poker involves hard skills.
- Levitt, co-author of Freakonomics and a professor at the University of Chicago, carried out research showing that skilled players outperform random ones over large sample sizes. He shared that poker has a lot in common with professional trading.
- Einhorn, a billionaire hedge fund manager, compares poker with investing. He believes both are very similar in areas of risk management and decision-making abilities under uncertainty.
How To Play Poker Responsibly?
Power requires skills and the right mindset. Without the correct approach, you may make massive losses. As a beginner, playing responsibly is crucial. Remember the following points before your poker journey begins.
- Bankroll management is essential. Set a strict limit on the amount you want to invest in poker. Decide in advance how much money you are willing to risk. Treat it as entertainment money, not something way beyond your budget.
- Poker carries with it enough emotions, especially if you are losing initially. But don’t let losses dictate your decisions. Stay calm and make logical moves.
- Never play on borrowed money. Even if you lose money, you would not, at least, owe anyone. A small amount is better than taking money from elsewhere.
- Don’t put all your stakes in one game. Start small. Play at levels you feel comfortable. And once you feel prepared, raise the stakes.
- Track your wins and losses always. You need to understand if you are getting better or worse with every game. Keep a note of your moves, remember your mistakes, and try better at the next game.
- Never treat the game as a quick-rich scheme. Many advertisements and promotional campaigns depict how people have won big money fast, but that is mostly not true. You only get better with time.
Conclusion: The Final Words Before The Wrap!
Finally, the verdict? Is poker gambling or investing? It depends on how you perceive the game. If you are putting loads of money into thinking your luck would help you win, then poker is not for you. But if you put time and effort, even if that means losing a few games in the beginning, you have a good chance of becoming a pro in the long run.
So, next time, remember our words and play the game. You won’t regret it because you won’t be gambling. However, if you are looking for the best platform to play poker, try Playerzpot. The thrill, the rewards, and the user-friendly features will undoubtedly steal your heart!
