Poker Arena | Poker School | Poker basic lessons | Is poker a game of skill? Introduction to betting with blockchain technology

Is poker a game of skill? Introduction to betting with blockchain technology

Font size: Decrease font Enlarge font

Many people around the world perceive poker as a pure gambling. They think that it is not worth to play poker because it is a game based on pure luck. No chance. No dice. What’s more, they are afraid that the operators change the software algorithm to be in their favor. How does it look in reality? Is poker a game of luck, with no chance for a player, no dice? And how exactly the blockchain technology is going to revolutionize the online poker world? It already helped create crypto prediction markets like Fairlay, where you can bet on who will win the 2020 elections in the USA. Considering the spikes of the price of Bitcoin and the ever-growing number of altcoins betting on such events using cryptocurrencies is surely a revolution. And a huge risk, but that’s what makes it more exciting than betting with FIAT currencies. The gambling industry depends on the Bitcoin and cryptocurrencies for its survival. But how does it help the poker players?

Not a typical casino game

Unlike other casino games, poker is a game played human vs human. It’s not a roulette. No blackjack. No dice. This means that casino, and in particular crypto casino, earns money only on rake, and it doesn’t care whether one player or another will win. Therefore, they have no intentions to make your chance of making huge profits equal to 0%, equal to no dice.

Psychological and mathematical factors

You probably have heard about the famous “Poker Face.” Psychological factor in this classic game is very important but there is also a lot of mathematics involved.

Countless books have been written about poker strategy and there are thousands of online and live professional poker players around the world. You need to learn, for example, how to calculate pot odds, learn charts related to the first betting round act, analyse opponents’ raises, re-reraises, continuation betting percentages, something called implied odds, and even reverse implied odds – and it is just a beginning. Learning how to play poker is as complex as study course these days. Seems complicated? Unfortunately, it is, however, due to that fact after some time and hard work put in, you can guarantee yourself a significant advantage over your opponents and literally print loads of money. A recreational player, who plays against an experienced one, has no chance to win. No dice. That’s why poker is a game of skill.

Crypto casinos – the future

Especially with the recent introduction of crypto casinos and overall direction with which cryptocurrency industry, and particularly blockchain technology is suspected to be going in a matter of years, the profitability of online poker might be as much attractive as it never has been in a matter of months.

There are a lot of crypto casinos already on the market, which thanks to blockchain technology, possess much more lower operational costs than traditional poker rooms. Therefore, they offer more attractive bonuses and lower rake, which simply leads to bigger profits for players. When the poker industry will notice how huge benefits of blockchain are, and blockchain itself will enter the mainstream, not only in the gambling industry, both professional and recreational players will start to gradually change poker rooms from traditional ones to crypto ones, and operators will naturally follow.

Researches on poker skill vs luck factor

In a study, it was shown that from 103 million poker hands examined, only about 25% of them ended on showdown, and overall, the best hand scooped the pot only 12.5% of the time. As a conclusion, researchers stated that Texas Hold'em poker can be seen as 88% skill game and not predominated by chance.

What’s more, there have been already matches in which supercomputers faced the best poker players in the world, and one of the most successful programs were Libratus, who significantly defeated top players in heads-up (1 vs 1) games. Experienced players had no chance versus advanced algorithms. No dice. However, what is worth noticing, games with more players at the table are so complicated from the game theory point of view that scientists are not able yet to find proper algorithms to create a program which would have any chance to beat strong players.

Blockchain – the revolution

Blockchain technology revolutionizes the world. For example, it helps to prevent money laundering and corruption, and it is going to have a significant impact on many industries, including medicine, economics, law, politics, and others. In gambling, it guarantees that the game is honest and transparent. On blockchain, the code is immutable, which means that even the creators cannot interfere with it, they have no chance, no dice to change it. Every player has the possibility to check how the games’ algorithms have been projected.

However, if you are not 100% sure about the safety in the poker industry, crypto casinos are the way to go. Except for security and honesty, they guarantee higher prizes and anonymity, as on blockchain, there is no third party involved in transactions. Usually, the only things you need to provide is your e-mail ID and wallet ID.

Poker – no dice? Definitely not

Poker is definitely is a game of skill, and the only thing that may still prevent you from playing online poker is possible dishonest software. You need to understand that this issue is not that serious as you may think, as there are many professional (and honestly playing) poker players around the world, and poker sites run serious business, with billions of dollars involved, earning money mostly on rake. However, if you are not sure that you can actually win at poker after putting some hard work in learning poker strategy, you should try crypto casinos, which guarantee higher prizes, safety, transparency, and credibility of organised poker games.

 

Comments (0 posted):

Post your comment comment

  • email Email to a friend
  • print Print version
Rate this article
5.00
Best PokerRooms
Crt
Logo
Pokerroom
Bonus
Score
Download
2
 
$500
9.8
3
 
$500
9.7
4
 
$2000
9.7

Reviews Reviews

Best Tournaments »