Business and Management INK

Poker: Game of Skill or Chance?

June 30, 2012 1016

It’s time to settle the debate once and for all–and a study just released by “Freakonomics”  co-author Steven D. Levitt of the University of Chicago and Thomas J. Miles of the University of Chicago Law School provides brand new data that may just tip us off.

According to “The Role of Skill Versus Luck in Poker: Evidence From the World Series of Poker,” published on June 22, 2012 in the Journal of Sports Economics (JSE):

In determining the legality of online poker—a multibillion dollar industry—courts have relied heavily on the issue of whether or not poker is a game of skill. Using newly available data, the authors analyze that question by examining the performance in the 2010 World Series of Poker of a group of poker players identified as being highly skilled prior to the start of the events. Those players identified a priori as being highly skilled achieved an average return on investment of over 30%, compared to a _15% for all other players. This large gap in returns is strong evidence in support of the idea that poker is a game of skill.

Read more in JSE. To learn more about the Journal of Sports Economics, please follow this link.

Are you interested in receiving email alerts whenever a new article or issue becomes available online? Then click here!

Business and Management INK puts the spotlight on research published in our more than 100 management and business journals. We feature an inside view of the research that’s being published in top-tier SAGE journals by the authors themselves.

View all posts by Business & Management INK

Related Articles

The Role of Place in Sustainability
Business and Management INK
October 28, 2024

The Role of Place in Sustainability

Read Now
Turning to Glitter in Management Studies – Why We Should Take ‘Unserious’ Glitter Serious to Understand New Management Practices
Business and Management INK
October 24, 2024

Turning to Glitter in Management Studies – Why We Should Take ‘Unserious’ Glitter Serious to Understand New Management Practices

Read Now
Utilizing Academic-Practitioner Partnering for Societal Impact
Business and Management INK
September 17, 2024

Utilizing Academic-Practitioner Partnering for Societal Impact

Read Now
Trippin’ Forward: Management Research and the Development of Psychedelics
Business and Management INK
September 9, 2024

Trippin’ Forward: Management Research and the Development of Psychedelics

Read Now
Using Ethnography to Explore Entrepreneurial Extracurricular Activities

Using Ethnography to Explore Entrepreneurial Extracurricular Activities

Co-authors Birgitte Wraae and Nicolai Nybye reflect on the inspiration behind their research article, “Learning to Be “Me,” “the Team,” and “the Company” Through Entrepreneurial Extracurricular Activities: An Ethnographic Approach,” published in Entrepreneurship Education and Pedagogy.

Read Now
The Future of Business is Interdisciplinary 

The Future of Business is Interdisciplinary 

By actively collaborating with industry, developing interdisciplinary programs and investing in hands-on learning opportunities, business schools can equip graduates with the specific skills and experiences that employers are seeking.

Read Now
The Co-Creation Edge in Marketing Education

The Co-Creation Edge in Marketing Education

In this article, co-authors Maria Petrescu, John T. Gironda, Anjala S. Krishen, Adina Dudau, J. Ricky Fergurson, Steven A. Stewart, Philip Kitchen, and Monica Fine reflect on the inspiration behind […]

Read Now
0 0 votes
Article Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments