Friday, January 9, 2009

The State of Pokernomics

"In these troubled times" is a phrase being tossed around a lot these days. Many companies are tightening their belts. They are dow--I mean "right-sizing" their head-count and cutting back on benefits. I remember waiting for Google stocks to split into shares I could afford. They never did split, but the price sure went down. And that's Google, a profitable company. Many major companies that are unprofitable have bankruptcy on their mind.

How's your stock doing? I'm not talking about your portfolio, I'm asking about your profitability at the poker table. Playing cards isn't unlike playing the stock market. You make decisions to the best of your ability that either pay off or not based on your choices after going through the Chance Machine. Like stocks, poker is gambling. Similarly, you are not unlike a business. If you keep good books, you should know whether or not you should stay in the game. Does today's environment affect you as a poker player?

I imagine the pond is running a little short on fish. I haven't experienced this directly, but I haven't looked for live games in a while. On-line...well lets just say it is a very big pond.

I'm trying to gleam some perspective here. I know I have readers from Vegas, are less tourists making the pilgrimage to the strip? I'd hate to see the rounders cannibalize each other. What about my visitors from the UK? Are you guys looking better economically than us Yanks? I need your help in the comments. What is the state of pokernomics?

11 comments:

  1. I see no changes in the online poker world. Its all the same! Lots of fish with money to lose.

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  2. Personally, I think there will be even more fish online and it's quite sad that they will be there in the hope of gambling their way out of the recession.

    Gambling markets tend to stay reasonably strong during a recession and I think sites associated with sports betting or fancy graphics (read as Sky Poker and PKR) will be attracting a lot of fish in the coming months.

    You've also just given me an awesome idea for a new blog post so thanks, Grundy! ;)

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  3. At my card room today, there were the same number of people who entered the $125 No limit buy in event with one $100 rebuy.

    The one thing that was different is that there were fewer players taking the rebuy. As a result there was faster "shrinkage," as George Costanza would say.

    I don't believe we will see more players at online poker until we get some positive publicity. Everything is so negative with the US Government (many people think it's illegal) and stories about scandal/ripping players off.

    Found your post on twitter: Mitchell1969.

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  4. I don't play online so much these days but live poker seems alive and well. Not that I have a large sample size mind you....

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  5. Sorry - should have added, I play in London, UK mainly :-)

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  6. Bellagio, which is known as the mecca for big poker, now offers $1/2 NL. I think they had to start spreading it to help keep the room full. Its hurt the 4/8 Limit game for me a little but dealers say its brought down the stress in the room because guys aren't playing at stakes they couldn't afford just to play at the Bellagio.

    Rooms that spread just 2/4 or 4/8 now offer 3/6 and a lot of players are going down to 3/6.

    Still, the fish definitely exist. Last night was calling stations 7 out of 10 seats. I had a nice 5 hour session at Bellagio last night that ended with 160% increase. Can't knock those types of financial returns.

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  7. Of course if you are a winning poker player any economic downturns are not going to hurt you. I mostly play at low stakes and I have not seen any downturn. I think if anything people turn to poker as a way to try and make more money when times are hard as misguided as that may be in some cases.

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  8. Of course if you are a winning poker player any economic downturns are not going to hurt you. I mostly play at low stakes and I have not seen any downturn. I think if anything people turn to poker as a way to try and make more money when times are hard as misguided as that may be in some cases.

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  9. Yes , fish play to get lucky , pro`s play to take money from fish =)

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