The Mathematics of poker
From PokerAI
The Mathematics of Poker is the single best book that looks at Poker Theory, where many pure game theoretic concepts are explained in the context of poker.
David Sklansky review on the The Mathematics of Poker:
| "For those who think poker math is only about probability, pot odds, and straightforward, rote play, think again. Bill Chen and Jerrod Ankenman do a terrific job explaining how math can, among other things, show you exactly how to mix up your play in such a way that even champion players cannot get the best of you. Especially those who don’t read this book." |
Book Outline
Quoted from 2+2 (Jerrod Ankenman) [1]:
I) Basics
Covers basic probability and statistical concepts, as well as Bayes' theorem, inference from observed data.
II) Exploitive play
Covers odds, reading hands, reading strategies, a little bit about data mining, playing accurately in cards exposed situations, hand vs distribution situations, and distribution vs distribution situations.
III) Optimal play
Introduces game theory, concept of the nemesis, and then solves many different poker-like toy games. Concepts touched on by these toy games are:
- Jam-or-fold (contains solution to HU JoF NL holdem)
- Betting and bluffing ratios
- Card removal (AKQ game)
- NL bet sizing
- All manner of [0,1] games
- Multi-street games without draws - bet sizing across multiple streets
- Multi-street games with open and closed draws - also exposed hand vs known distribution play on turn and river.
IV) Risk
Covers risk of ruin calculations, also risk of ruin based on a sample (includes the uncertainty of the win rate). Covers Kelly utility, game selection (CE choice of limits), portfolio theory, and backing agreements.
V) Other Topics
Covers tournaments, both necessary adjustments (based on the theory of doubling up) and also statistical inference based on tournament payout structures and results. Covers multiplayer games, collusive alliances, and so on.
See also
Links
- The Mathematics of Poker on Amazon.com
