Poker and the Beginning Trader

Quote from biggerfish:

The Financial Times quoted Frank Wednesday saying that the law, formally known as the Unlawful Internet Gambling Enforcement Act, is "preposterous" and one of the "stupidest" ever passed.

http://biz.yahoo.com/ap/070314/internet_gambling.html?.v=4&printer=1

All according to plan. The next step will be a proposal that railroads U.S. players into playing at U.S.-owned (and based) sites exclusively. This is and always was a protectionist move on the part of Big U.S. Gambling.
 
Quote from traderNik:

All according to plan. The next step will be a proposal that railroads U.S. players into playing at U.S.-owned (and based) sites exclusively. This is and always was a protectionist move on the part of Big U.S. Gambling.

Best thing in the world that could happen to online poker.

REGULATION of online poker is a good thing folks, not a bad thing.
 
Quote from EricP:

Just for completeness, let me do a quick calculation of what the odds would be to get four aces after the flop (i.e. after five cards).

Note that getting this would involve getting one useless card, that wasn't an ace. This makes calculation of the odds a little more complex. For the sake of simplicity, the notation for an ace will be "A" and the notation for any other card (2 - K) will be "x".

Also, note that you can get four aces after the flop in five ways:
AA AAx (we'll call this "I")
AA AxA (II)
AA xAA (III)
Ax AAA (IV)
xA AAA (V)

To correctly figure the overall odds, we must calculate the individual odds of each of these scenarios (I through V) and sum them up to get the total overall odds.

Odds of getting scenario I:
(4/52)*(3/51)*(2/50)*(1/49)*(48/48) = 1/270,725

Odds of getting scenario II:
(4/52)*(3/51)*(2/50)*(48/49)*(1/48) = 1/270,725

Odds of getting scenario III:
(4/52)*(3/51)*(48/50)*(2/49)*(1/48) = 1/270,725

Odds of getting scenario IV:
(4/52)*(48/51)*(3/50)*(2/49)*(1/48) = 1/270,725

Odds of getting scenario V:
(48/52)*(4/51)*(3/50)*(2/49)*(1/48) = 1/270,725

=> Overall odds of getting four aces after the flop would be the sum of all of these which would be 5/270,725, or one chance out of 54,145.

From this, you can see that it is much 'easier' to get four aces (1:54,145) than it is to get a royal flush (1:6.5 million).

-Eric
Eric,
The number is right, and there is easier way to calculate:
Since the 5th card is random, it is same as calculate the odd of select 4 aces from 52 cards, which is:
4*3*2*1/(52*51*50*49)

James
 
Quote from jliu7:

Eric,
The number is right, and there is easier way to calculate:
Since the 5th card is random, it is same as calculate the odd of select 4 aces from 52 cards, which is:
4*3*2*1/(52*51*50*49)

James

I don't believe that is correct, James. You have calculated the odds of selecting four aces with the first four cards. The correct calculation is for the odds of having four aces in the first five cards, which is not the same. That's what I calculated.
 
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