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Topic: House edge in poker-like games - page 2. (Read 366 times)

legendary
Activity: 2576
Merit: 1860
November 10, 2019, 09:25:28 AM
#4
Therefore, it can't possibly affect your chances to win like it does in dice. It is 50/50 in terms of winning or losing for two players before the cards have been dealt (if we discard the ramifications of skill and expertise from the equation)

A house edge does not only mean a certain amount of advantage of the casino over the player in terms of winning chance. In a dice game, your winning chance could also be set at 50%, which means the dice site does not have any amount of edge over you in winning probability. That means that "It is 50/50 in terms of winning or losing" just the same. But the house edge is in the payout or winning prize. Your chance of winning against the house may be 50:50 but your winning prize will not be x2. That means the house still has the edge over you.

In a poker game, you are playing against another player but a portion of the winning will go to the house. In which case, the house wins every time a game ends, regardless of who wins. This is also the same rule that applies over sports betting. That may not be aptly called house edge but it is somehow similar to that.
copper member
Activity: 207
Merit: 32
November 10, 2019, 08:25:31 AM
#3
indeed. In poker platforms there is no house edge. They take their fee in different ways depending on the game format.

For cashgames they take a rake on every played hand
For sit&gos and tournaments there is an entry fee which mostly is 5-10% of the buy-in amount. So if you for example playa 5$ buy-in tournament the platform will probably charge 5.5$ which 5$ is meant for the prize pool and .5$ for the platform.
legendary
Activity: 1722
Merit: 1671
#birdgang
November 10, 2019, 08:05:56 AM
#2
There is no house edge in poker. They just provide the platform, bring people together at the tables and charge a fee for that. A six-player Sit'n Go with an entry fee of $5 per player will result in $30 prize pool and the house just takes like $2 from that for themselves for their service and will distribute the $28 among the paid places. 

Poker is a skill game and everyone has the same chances to get their share in the prize pool.
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
November 10, 2019, 07:54:52 AM
#1
Here's the relevant part from another topic, which seems to be worthy of its own dedicated thread:

On the other hand, when you are playing against other folks (as in poker), the house edge becomes kinda irrelevant because it is the same for all other players as well, but you win not by taking the casino's money but the money of other players. And that's the true beauty of it
I haven't ever played poker. But I think when you play poker, there is still some profit go to house.
For example if a user lose 100$, you won't win 100$, you will win lower than that as 1$ (for example) goes to house.

I wouldn't call that a house edge

Edge means an advantage, in this case the advantage of the casino before the player. But since casino is not playing in poker (unless you are playing against the house, of course, and not the other human players), you can't consider this percentage taken from your winnings a house edge even if it does go to the house. I would suggest to think of it as a fee, a playing fee of sorts. Most importantly, it doesn't take anything from the advantage you may (or may not) have over the other players

I understand you and  I agree that poker can be more fun because users are playing against each other.
But whatever we call that, fee, commision or edge, that is decreasing your chance

But that has nothing to do with your chances

And that's exactly why we can't call it a house edge as a house edge is supposed to do just that, i.e. make the game unfair (let's call it provably unfair). Look, you get an advantage over your opponent though skill or pure luck, and this advantage allows you to win. You are playing against the other player(s), not the casino. So however small your advantage might be (like 0.001%), you still win all and then the casino takes its fee (like 1% or whatever)

Put differently, this kind of house edge affects all the players in equal degree, with the meaning being that everyone is treated equally. You either win and then the other players lose, or vice versa. Therefore, it can't possibly affect your chances to win like it does in dice. It is 50/50 in terms of winning or losing for two players before the cards have been dealt (if we discard the ramifications of skill and expertise from the equation)
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