The Science and Economics of Poker

Although poker has roots in card games played in Europe and the Middle East as far back as the fifteenth century, the modern game of poker originated in the early nineteenth century in the gambling saloons of New Orleans. It has long been the most popular card game among Americans. It has recently reached unprecedented popularity due to a variety of factors, including television and Internet exposure. Poker is somewhat unique among gambling activities due to the fact that it is not house banked and because of the considerable elements of skill required, which are not present in other casino-style and lottery-type games. This chapter explores the science and economics of poker.

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