The Mathematics of Poker 1st Edition by Bill Chen, Jerrod Ankenman ISBN 1886070253 9781886070257

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Product details:

ISBN 10: 1886070253

ISBN 13: 9781886070257 

Author: Bill Chen, Jerrod Ankenman

In the late 1970s and early 1980s, the bond an option markets were dominated by traders who had learned their craft by experience. They believed that there experience and intuition for trading were a renewable edge; this is, that they could make money just as they always had by continuing to trade as they always had. By the mid-1990s, a revolution in trading had occurred; the old school grizzled traders had been replaced by a new breed of quantitative analysts, applying mathematics to the “art” of trading and making of it a science.

Similarly in poker, for decades, the highest level of pokers have been dominated by players who have learned the game by playing it, “road gamblers” who have cultivated intuition for the game and are adept at reading other players’ hands from betting patterns and physical tells.

Over the last five to ten years, a whole new breed has risen to prominence within the poker community. Applying the tools of computer science and mathematics to poker and sharing the information across the Internet, these players have challenged many of the assumptions that underlie traditional approaches to the game. One of the most important features of this new approach is a reliance on quantitative analysis and the application of mathematics to the game.

The intent of this book is to provide an introduction to quantitative techniques as applied to poker and to a branch of mathematics that is particularly applicable to poker, game theory. There are mathematical techniques that can be applied for poker that are difficult and complex. But most of the mathematics of poker is really not terribly difficult, and the authors have sought to make seemingly difficult topics accessible to players without a very strong mathematical background.

Table of contents:

1. Acknowledgments
2. Foreword
3. Introduction

Basics
4. Decisions Under Risk: Probability and Expectation
5. Predicting the Future: Variance and Sample Outcomes
6. Using All the Information: Estimating Parameters and Bayes’ Theorem

Exploitive Play
7. Playing the Odds: Pot Odds and Implied Odds
8. Scientific Tarot: Reading Hands and Strategies
9. The Tells are in the Data: Topics in Online Poker
10. Playing Accurately, Part I: Cards Exposed Situations
11. Playing Accurately, Part II: Hand vs. Distribution
12. Adaptive Play: Distribution vs. Distribution

Optimal Play
13. Facing The Nemesis: Game Theory
14. One Side of the Street: Half-Street Games
15. Headsup With High Blinds: The Jam-or-Fold Game
16. Poker Made Simple: The AKQ Game
17. You Don’t Have To Guess: No-Limit Bet Sizing
18. Player X Strikes Back: Full-Street Games
19. Appendix to Chapter 15: The No-Limit AKQ Game
20. Small Bets, Big Pots: No-Fold [0,1] Games
21. Appendix to Chapter 16: Solving the Difference Equations
22. Mixing in Bluffs: Finite Pot [0,1] Games
23. Lessons and Values: The [0,1] Game Redux
24. The Road to Poker: Static Multi-Street Games
25. Drawing Out: Non-Static Multi-Street Games
26. A Case Study: Using Game Theory

Risk
27. Staying in Action: Risk of Ruin
28. Adding Uncertainty: Risk of Ruin with Uncertain Win Rates
29. Growing Bankrolls: The Kelly Criterion and Rational Game Selection
30. Poker Finance: Portfolio Theory and Backing Agreements

Other Topics
31. Doubling Up: Tournaments, Part I
32. Chips Aren’t Cash: Tournaments, Part II
33. Poker’s Still Poker: Tournaments, Part III
34. Three’s a Crowd: Multiplayer Games
35. Putting It All Together: Using Math to Improve Play
36. Recommended Reading
37. About the Authors
38. About the Publisher

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Tags: Bill Chen, Jerrod Ankenman, Mathematics, Poker