Poker Pro Makes A Common Financial Mistake - a podcast by Jae Oh

What YOU Can Learn From A Poker Pro's Errors | Financial Fluency  

Lots and lots of people attempt to equate the term 'gambling' wrongly. Poker is a probability-adjusted game. NOT pure randomness, with inferior payouts, like roulette.  Landon Tice VS Bill Perkins High-Stakes Showdown received a lot of attention in the global poker community.  Poker pro Landon Tice "spotted" Bill Perkins, "businessman," 9 big blinds for every 100. Perhaps he simulated what the difference should be. Perhaps not.

However, the issue is that the OTHER rules sharply limited Landon's inherent advantages.  Takeaway for everyday people: Landon likely didn't realize the full extent of these limitations, until he was locked in. THAT IS EXACTLY THE ERROR THAT PEOPLE MAKE REGARDING FINANCIAL MATTERS. This is particularly strange, since he uses the identical thought process, every single hand.  

Even huge insurance carriers have made, principally, the same mistake. 

a. Long-term care insurance is now all-but-extinct

b. ACA carriers (coops) failed entirely  



Note: There isn't any doubt about Landon Tice's  command of poker. Here's an example: https://youtu.be/KHqVp7dJsTA  Impossible to invent those explanations on the fly. No way.  And, he seems like a v cool guy. 

#poker #financialliteracy   



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