Can you apply Game Theory to Poker?

Answer 1

Yes but you want make a profit. Game theory is complex and you will break even, witch defeats the purpose of Poker. For beguines simple game theory is helpful. Theory of poker was a Book written by David Skalansky. The reason is because poker is a game of probability and odds. Game Theory is concepts that can be applied to a wide range of subject's, such as economic game theory, poker, and business. One of the main points in game theory is whats the optimal game play. For example, pot has $100 dollars and opponents bet's $20 dollars, optimal game theory would suggest because you are getting pott odds of 6/1 on your money you should call 1 times and fold 6. However if the opponent made it a $100 dollar bet your getting 2/1 on your money meaning you fold twice call once. However, playing optimal game theory will lead to no profit playing poker. The reason is poker is a game of risk and reward and if you play optimal strategy every time you will breake-evan every time you play. this is good if you playing someone better than you, but bad if your goal is to make a profit from lesser opponents . The reason is because the only way to earn money is not to play optimal game theory strategy. For example, in the above example when the opponent made a $20 dollar bet into a pot of $100 optimal theory say fold 6 out of the one time, but if you have been noticing the guy has been bluffing a lot more times than is optimal game theory, then the only way to make money is to call him more than is optimal according to game theory and try to out play your opponent or improve your hand. If you notice a tight player folding more than is optimal, than bluffing more than optimal is going to be the best strategy to make a profit.