Liv Boeree | The Science Behind Poker | Oxford Union

Okay, so yeah, as soon as I explained it, I'm now a

poker

player. I don't know how familiar they are with

poker

. It's often complicated trying to explain poker to different skill levels, but today I'm going to take it. You're all pretty good, and if any of you feel lost, etc., raise your hand and ask us to explain anything to you at any time, which is why poker is often considered an art and a The

science

, the artistic side , comes from the creativity and intuition that you sometimes feel in your hand, and so on. The sign

science

part II is really the methodology and logic you use to come up with those creative plays.

Both approaches have merit, but they are the stronger today. The players are the ones who approach the game in a very quantitative way. The game is actually very different from how it used to be ten years ago. Most of the players who were very good played based on the street smarts they had acquired over years and years. of experience at the tables today, the best players are those who take a very analytical approach and use mathematical analysis and the practical application of a branch of mathematics in game theory, so how are these players doing? as well?

Our goal when playing is to optimize our decisions and we want to build strategies that put our opponents in situations where they find it difficult to optimize their decisions now of course there are the basic poker strategies that I will mention to you, most of you will probably be familiar with them, but I will explain, check them out anyway, the first is to be selective, now you can't, well, you can, but I wouldn't recommend it, a lot of people try, when they start playing poker, to play all the hands in all the positions they you don't want to do. that you're going to lose a lot of money very quickly and similarly on certain flop textures and so on, you can't keep playing all the hands, you know, if you have aces on the ace four five six seven and also the eighth king on the ace four five six seven and four spades and you've read ace king you don't want to continue betting, you know there are certain situations where you need to be a little selective and fold and so on, the next thing is to act last.

The best position is when the order in which you make your plays moves around the table like the dealer's button moves. If you are in position, you have a much greater advantage because you can see what your opponent does first to the next. The thing is to be aggressive, apply pressure, if we were just playing honest poker where only the person with the best hand wins, it would be quite boring and by being aggressive you give yourself another way to win your hand, you can make your opponent retire so you don't always have to have the best the fourth type of key strategy and this is the most important one is to be unpredictable we want to make our life hot we will make life difficult for our opponents not us or the way we do it That is, we build a balanced range of hands that we could have, for example, on a board like a six seven if we only bet when we have an ace, where we will be quite facing our opponents and/or If we only bet when we do not have an ace in against, that makes us very easy to exploit, so it is good to build a range of hands that you can possibly have in any given situation, but all of these strategies are very 2005. in 2016 now and the game is very different to be able to play against the best, to be the best these days you need to adopt mathematical strategies that minimize your exploitation capacity and maximize your profitability.

This is mainly done by analyzing what are known as ranges and these are the set of possible hands that you use, combination of hands that you or your opponent could have in a given situation, so this is a visual representation of a range on that note , don't come back, so down here, look at my mouse to the right, yeah, up. Here you have ace through two on this axis and the same thing here ace through two and then obviously ace, ace, pair of aces, king, queen, queen, so you have all the pairs down there, in total, there are thirteen hundred twenty-six in total possible. starting hand combinations of two pairs of Texas Hold'em and you will see that it has been divided in this lower left are the hands that are not of the same suit and at the top right are the ones of the same suit and it is important to divide them because the hands of the same suit have much more equity in terms of fairness and playability than unsuitable hands, so we should keep them separate.

The way you want to start building a strategy is to think about the relationship between the range of hands you are playing and what your opponents are likely to have. We do this by looking at the playing tendencies we have observed from a player in each betting round, this analysis allows us to get a more accurate picture of his range as a hand recedes. Here's a simple, reasonably simple example, so this is a standard aperture range. by a good player against another good player on the button and remember the button is the position you act last so it's the strongest hand the strongest hand sorry the strongest position you you can be in the other hands in yellow are the ones that you will open hundred The percentage of the time the small numbers are the percentage of the times you would open them, so let's say, for example, like King four of the same suit here, you would actually be opening three-quarters at that time, seventy-five percent of the time most players develop a range like this.

It's a bit intuitive from experience, but nowadays there are some really cool poker algorithms you can use that calculate this for you through dummy autoplay iterations, meaning they play a lot of hands against themselves to find the best ones. strategies in this button opening range. is taken from one of these programs and represents the game theory optimal opening range against another optimal player, so if we have the button opening range, conversely, if we are in the big blind, we will have a defender . range and this is the optimal defense range against that range that we saw, so now we are defending about forty percent of the hats, this one is a little more complicated because you will notice that all the ones in gray are the ones that we fold, like this that all the really bad ones like ten five of nine four and so on, but we're also missing these and the reason is because this is the cool down range if you get from the aces or queens of ski kings those super strong hands on the big line, You're going to re-upload them so they're not in this range and we can exclude them.

Sorry, that's my place, so after our two letters, there are actually 50 cars left as deep as we can go. we have available and of these, this means that we can have 20,000 possible flops. There are many flops that we want to try and analyze. Fortunately, you can narrow them down into different categories. Say, for example, a flop like 8 deuce deuce is very similar. a 7 two two so we can group them together and analyze them and ace 8 9 is pretty much the same as saying 7 8 and so on, then you can use the program to determine the optimal play for these different flop textures, so let's take a look . in one, then let's say the table comes 9 of clubs 8 of spades 3 of diamonds in this situation the program recommends well the program recommends that the player out of position pass to the raiser about 100% of the time the reason is if you remember before your strong hands have been excluded, so the big blinds' range is significantly weaker than the button's opening range.

The different colors show the different actions the program recommends, so all the dark oranges are the program recommending you bet big. the salmon color is betting small and the green is marked checking in response the big blind has these options they can raise they can call and they can fold again represented by the different colors now we can advance further in the game show you the turn which Let's say we cut, comes the six of clubs and again we can calculate the optimal play and we can keep doing this until we get to the river, but what's interesting here, let me continue with the river, what's interesting here if you remember at the beginning.

I saw that the button was opening about fifty percent of the hands, that is, about six hundred and fifty possible card combinations, but when we hit the river, the big blinds call their opponent if the Bigger is supposed to open the button and then you bet on the flop, then you bet on the turn and then you bet on the river. This has now been reduced from 650 to just 57 combinations, so this is actually very useful to get information for the big blind, they have very accurate information. guess what your opponent's range is and so you can play your range accordingly once you place your opponent in a precise range like this you will be able to better determine the actions of your pot options and therefore make the best play now in this example. with all these programs that you use, you assume that you are an optimal game theory player and that you are playing against optimal topic theory players after a large number of iterations and we are talking like billions of hands of this fictional self that plays the program .

It strikes a balance that I heard someone mention before. Nash equilibrium you may have heard of at the time. The discovered strategy that you are playing is absolutely unbeatable with any other strategy to explain this better and when you imagine rock, paper and scissors, Imagine that everyone is familiar with rock, paper and scissors, so when you play, what you would suggest is the optimal strategy to be able to play rock, paper, scissors, anyone rolls a dice correctly and why exactly would they do it? you would choose to create a random number generator as perfect as possible to throw rock 33% of the time, scissors, paper, etc. and so the best counter strategy you could use is to also be a random number generator and throw it away 33 percent of the time, so the best case scenario in that situation is to break even;

However, just because a strategy is unbeatable doesn't mean it's the most profitable strategy if we go back to rock, paper, scissors and I start throwing 100% rocks at you, well, do you want to continue being that random number generator? It's probably not right. You could still be present on the number generator, but you wouldn't actually beat me. You'll play game theory optimally, but I won't make the most profit if I play rock 100% of the time, you'll want to start playing paper 100% of the time and the same applies to poker, while playing game theory is the optimal strategy, so it is an unbeatable strategy, it is not always necessarily the best strategy, especially as humans and not game theory is optimal most of the time you play against an opponent with torso, some of whom have never heard talk about optimal game theory and therefore they are very ripe for exploitation, some players, I mean, as examples of exploitation some people think that they always want to play aces slowly, you know, that means playing them in a way sneaky and passive and therefore they're actually going to miss opportunities and you can exploit that and the same as someone who plays 100 percent on the bottom because they heard it's the best position, so again you'll want to do that, if you stay with the GTO strategy you will miss out on that exploitation, but the most fun part of poker and I guess what we're going to talk about a little bit now is actually the experience that comes from learning to understand human psychology and I guess exploiting these players and I look for weaknesses in them and I have a fun video to show you that demonstrates it very well. and in this video and someone here you may know Eagle Kogan and well I'll play the video and then any questions you may have is entitled to 4,000 oh my gosh with that how to safely balance Cheviot 2700 the dollar and that's a recast 3000 9100 re-raise early raid against a really good player with young - yegor didn't stand out in the australian 25k.

I won his check six by failure, he has all the checks. Shenzhen is absolutely not credible, it certainly gets a call. the second road only a third the size of the fog was fine in a three bit hot seat wheel seven in the tub chicken that has a blood pack many people are going to slow down no, no, I'm not Shammi and he just a continuous swelling there is the size of the pot that is five three for one kills seven in the tub Cheviot now has a good package many people are going to slow down but no, no, about the Yemenis, it is a continuous pot like that luck that It looks in seven that sixty pounds 100 once again I have it in Cole's program for a head on a floppy disk very much like being still at this moment not at all so the river with Carol passes at that moment this is a card of super wet river that is moving let's get it.

You are here, he buys, that is the strength of pop students, he obviously came to remove this sick block from the case and it is his best chance to remove the dirtof the pulled exactly the hand you have, sometimes even better at the moment, extinguishes the life of the tournament over the second pair you are. all in the myth that a different side of this beforehand lying a hard one is a sister so happy that you have it seems friendly school of bright cool sick is a northern situation both hands have to be on the table libraries are not a myth I've seen it shills agenda Washington Sun and John um so yeah do any of you have any questions?

I guess first of all about this for Eagle or me, how did he do it right? As I also mentioned at the table, it seemed like he was behaving. a little different, but in general crowns are not something that, unless the mind is very strong, you can clearly base your decision on how you wear them most of the time and think it is a bit profitable, as it should be, maybe a bit.It's silly, but you have the option to make a column because it's not that far away and you can try to find more information by looking at the player and observing body language.

This usually only makes a little change to make decisions, so if you are let's say if before you had a hundred and fifty fifty between doubling and calling, now it could change you to fifty-five or forty-five sixty forty as if it were not nine and, Often, with players, I mean a player who just does it, but in this case it wasn't quite and you would say he just changed a little bit and what was relevant here, something that I like to do and that in general probably It's true that I say some of the things I said are often to get a reaction and when you smile at me as friendly, people usually like it again, more people when they try to be friendly with you are lying to you at least as with a bluff, if they just play softly, have their hand, then they just stay in the general behavior. mode with you is just a normal social creation where it's your motives or the corporation is just the truth, whereas when they say, well, can we fake something, your motivations, baby, then you'll like the fun, it's partner friendly, it's so like everyone, you can again make a slight assumption that it is more likely and not with him he is too friendly in a situation where he is also there, so he can be good and I try to be feminism is making jokes bad than television and if they laugh at your bad jokes on psycho it's very funny no, I think I'm fine, it's good, so it seems like it would be exploitable.

Ho Chun-yin doesn't seem to have made the class interstate, in this hand I also want to say that everyone is still human and has mistakes. who do it and like to try it, get better this was 2014 or thirteen he was never on the scene he was a good player but he actually was, you're in the fear of your lives and anyway like Jeremy you should always consider him too that you are in the situation. eagle it's very difficult to be a good actor for most people it's very difficult to fake something and that's why most people are advised to just sit back and put Japan in the situation as if my situation doesn't matter as if it doesn't matter.

I had to do He does something, so that's why I might be natural, but for him to be natural versus fake is quite difficult and if you only thank him for three years, you probably won't succeed in that miracle, and even people like Daniel. Negreanu, who is the player who has been playing for 20 years, probably likes poker, even with it you find things that are genuine versus not, and reading people is always easier than accepting something. I know there are so many things you have to think about when you start making. So you do take care of your face, right, but the truth is that everyone else takes care of their look.

I swear, it's the first thing you learn from mine. It's like when they can't look you in the eyes, then people adapted to that by looking at them. eyes and this is like everything, just the sphere of thinking about my contract already exists online, but in this way people are very aware of their faces but less they show their hands, they are like the posture of their feet, yes. Feet give a lot, so you can learn many things from people I still like. You know, I consider myself decent and I've done a lot of detection training, so we still have to give things away and if you know someone, it's even easier, yes, plus, actually, what was organized was quite useful, this That's what he said and also a pretty clear policy.

This was the first hand after the break. We were going to a 50 minute break and he ran around the table like me. I want mr. The hand raises its hand and instantly just shoots it, which has a system, but Bowles is good, but at the same time, when your blood flows more, you're probably less composed and unable to be a good actor again because things just keep moving yeah when you took out the flood we almost like to climb poverty this happened they kind of set it up um when I want to do two things I guess in poker you want to consider how likely the single action is and you also want to have an overall plan for sure, so you generally want to have a plan for your hand, but just because you don't have one, doesn't mean you shouldn't take an action right now, so if you think the call is profitable because The mathematics suggests it.

So at this point, then it is, and as long as you don't play very badly afterwards, it will still be profitable, so things can change regarding the assumed profitability if afterwards you probably find yourself in a difficult situation or play badly. or the other may gain an advantage, then you could fold as well. What helps in this hand is that I have the heart king. There are three words that are trying to represent flush or set or straight and quite a few combinations of them are suited Kings. that he would play that way and by having the King of Hearts he now has six suited Kings combinations removed that he would sometimes bet with three buttons, so this gives me a little bit of a feeling that it is a better hand to call .

Let's say if I had King of Spades with a Jack and this is the other aspect that would be shown before with all the combinations that we reduce in the end to like in the previous case or 90,357 combinations of which probably two thirds of our value in 1/ 3 is Bluff, so it's 38 to 19 and now let's assume that while you don't have the 38, 6 gone, it's actually quite significant as far as proportions and little things like that, just the combinatorics is very important in poker. and it's definitely something to consider for anyone. Well, I guess the question for me is that you were saying that the best players today take a mathematical analytical approach.

So do you think your background in physics, a university, has helped you with your poker pain? Yeah, it's definitely given me practice in being analytical, I mean, those of you who have gotten some kind of degree in mathematics can feel very comfortable thinking about everything very quantitatively and, again, that applies to poker. II, they've started experimenting with how to analyze huge amounts of data that you know that's what you're doing, when you look at the hands you have to sit down, categorize them and then get comfortable handling all these huge amounts of data and extracting meaning from it. so Yes, it's been very helpful in that sense, so I guess they're gamers.

Can you think of any players you know whose styles you are very aware of, such as when they gain more experience competing against certain individuals? By learning how they play, they realized what they were going to do and you can predict their moves. Yeah, what happens if I play against eight Eagles, for example? I know they will play very evenly. to optimal game theory, they might deviate from time to time and exploit things they've seen, but I kind of know how they're going to play, you know these good players, but because they're playing optimal game theory, They are untapped and misleading, etc., although I know how they are going to play, I don't know how to make money from it, it is difficult, while there are some players who, as we said before, are not optimal in game theory, the Classically bad players are very exploitable and have tendencies that you will just notice over time and either you know they are there being too tight or too aggressive, they pick random hands to bluff with that.

I make some sense of that kind of stuff, so I guess most people when they play poker when they start playing poker, I guess they don't know all this kind of technical advice, so how do I guess you went from being maybe recreational? type of game or poker to getting into live competitive professional poker and becoming so good at statistics. For me it was a strange transition. I started playing games, in fact I started on a game show of all things. um, where they don't listen to me, it's very embarrassing because I just graduated. I didn't want to get a real job so I started applying for game shows, why not?

And the first one I applied for turned out they wanted to get five. complete beginners to poker, so they advertised themselves as a game show, not a poker show, and they taught us how to play and then I went from there. I loved the game. I thought, wow, this is so cool at the time I wanted to be a rock. Star and I wanted to travel the world and live like a rock star and then I thought: wait for these poker players who seem to be doing it, this seems cool. I want to investigate more about this.

I started playing like small local live tournaments, but it wasn't until a couple of years later when I started taking it a little more seriously that I started playing online. You know, I downloaded Poker Stars and I played some very small bets there and that's when I started taking the game more seriously and more analytically because that's the difference between online and live online you get a hand every twenty seconds or so, would you say 20 30 maybe 30 seconds per minute? Yes, it depends on how many tables you play, but you get a lot more volume in something like the program that you're getting more data that you can digest and you're doing that kind of experiment.

You know that experiences come to you faster, from which you learn, from where, instead of living, you are receiving a hand, maybe every two, three, four. minutes, that's when I started applying more analysis to the game and then for a lot of my learning experience, it came from surrounding myself with people who were much better than me and asking them for their hand and asking them what they think about this audience. their thought process, the type of things they're thinking about and then incorporating that into my game hmm, well you just mentioned that they want to live like a rock star, I guess if one thinks about movies like Casino Royale, where these contests are portrayed as really stylistic and sexy, kind of a tall snake, a fantasy world, what is it, what is that, compared to, I guess, the real life kind of world, the kind of poker game competitive, it's kind of high risk and the casinos are real, yes, for the most part.

It's not as glamorous as that, it can definitely be exciting, so I play mainly on the live tournament circuit, where you know I'll go to the European Poker Tour like I just came back from Monaco, the PokerStars event there is definitely the most event glamorous, it's beautiful, it's the most Casino Royale feel and in terms of high stakes, I mean Casino Royale, which was a high stakes cash game, right, they were playing something completely ridiculous. Did anyone at that poker just laugh? God, I'm bleeding quads vs. straight flush like this never happened, but of course it did, so there are little facets to it, but for the most part the tournament circuit is closer, I guess, at a glance.

This sports tour to some extent takes place during the day, the big tournament usually starts around noon, there are very strict schedules like fixed breaks every two hours, so yes, it's not like that, but there is some kind of private event. -Games with cash bets that probably have James Bond types and such. Well, I guess in a general sporting sense, it seems like poker is pretty male-dominated. Do you think it's gotten easier at least in the time you've been involved? being a live poker player or if not, how do you think that could change or why hasn't it changed until now?

I mean, there are definitely a lot more women in poker now than when I got into it ten years ago and I think I'd like to think that's partly because some of us were successful and the younger women saw that or the older women turned out well. If they can do it, why can't I? Before it was before the game. It became more publicly popular, it was played almost exclusively in small pubs, kind of like the underground scene and I think it was probably more intimidating to women in general from who knows, from a safety point of view and just because I know it was It looked more like a boys club, whereas now women are extremely welcome.

I have always felt incredibly welcome at the table and in general, yes, the industry is trying to do everything possible to make it no longer child's play and it is still, theratios are unacceptably too bad in the high stakes tournaments, you will still see maybe only two and three percent women, but in the lower stakes it is now more even and it is just a delay for socioeconomic reasons, actually in the years 50, women. they were only encouraged to be nurses, housewives and that takes a while to catch up, even though it's 2016 there is still that delay in financial independence.

I mean if you want to play poker regularly you have to be completely financially independent financially independent and you know there's still that lag hmm I guess and I guess somehow the game is always presented as a search for a man I guess so I want I mean, I try, I try not to mix poker with gambling too. I'm very sure that's okay, I mean, obviously there are more card games, right, no, you're right, and another thing is that it's interesting, I mean, poker is obviously a highly competitive game, very competitive and straightforward, and who knows if there is.

There are some sort of physical reasons why women tend not to enjoy that as much again. I think it's probably more of a sort of social-historical thing rather than a sort of actual physical distaste for competition, but yeah, it's probably a bit of a combination of That Too, but that being said, women who like it, like it. love it. almost more than the men there, they love it a lot and I think there's a little bit of that in everyone, it's just something, you know, it's a spectrum, some people really like intense competition and some people don't, and so similar.

There are plenty of men who have tried it and simply hated it because they didn't like the confrontational polettis style of the game. Now it all depends more on the individual, I guess beyond the type of poker, which I guess is the point. what you're best known for, you do a lot of charity work, a lot of philanthropic work, so I was wondering if you could talk to us a little bit about the more charitable side of what you do when you're not playing, yeah right, about two years ago, more or less, I was starting to get a little itchy feet just playing poker and thinking I would stand up with me, let me look better.

Feeling like you know, this is it. What am I going to do for the next ten years? Am I just going to play poker? I really love this game, but I also want to do something else and Eagle felt the same way too, so some of my other friends and us were introduced. one guy, a Swiss poker player named Stefan Huber, who was very unique and who played poker almost exclusively to win as much money as possible and donate it to charities and not just any charities. He subscribed to a philosophy known as effective altruism. and if I go back, I have some nice slides for this, open this, here we go.

I'll let you see that some of you may already be familiar with effective altruism, but it's not working, oh, thank you, so yeah. Effective altruism is basically asking the fundamental question: how can I do the best for the world? What are the things I can do? It's basically combining the heart and the brain when it comes to charity. When we generally think about charity, we tend to do it. Do it in a very emotional way, we'll see something on TV that will make us say oh wow, that's horrible. I want to do something about it and that's great, but there are huge disparities between some problems, which are much bigger. that others and some are much easier to solve than others, so effective altruism is applying some science and mathematics basically to discover the most effective ways to solve these problems, what are the problems that we will be able to solve most easily for each dollar donated?

Let me just click, this is me talking, so yes, there are many different groups suffering all over the world and the thing is that when we go to donate, we only have a finite amount of funds to donate and it is very important that yes Yes Our resources are finite, let's give our money to two causes that will help the most people as quickly as possible and eliminate the most suffering possible. You guys remember the ice bucket challenge a couple of years ago, right? An incredibly successful charity campaign that went viral ended up raising $140 million for the ALS Ellis Foundation.

I think it's called and the thing is that ALS is actually a very rare disease that affects approximately two hundred thousand people, which is equivalent to about thirty-five thousand deaths a year. around the world and because it is very difficult to treat diseases, the cost of ALS research is very high, which means that they have an average cost to save a life between nine point six and one point six million dollars, whereas if we look at a Diseases like malaria, which is extremely common, kills more than half a million people a year, but there are charities, for example the Malaria Foundation, that have calculated that they can save one life per about thirty four hundred dollars a lifetime, that's quite a lot.

There's a significant difference, so if we look at the one hundred and forty million dollars that was raised and see how many people that would actually save, give the ALS Foundation to save between eighty-seven and two hundred and thirty-three lives, great, but yes If we donated that to the malaria foundation we would save over four hundred thousand lives and that's a really significant difference and obviously ALS is a horrible disease and I absolutely agree that people deserve to be treated and be safe of that, but the point is if we are going to donate large sums of money, then it is very, very important, if we assume that live is the same, we donate it mainly to the place where we are going to save the most and in this case we would save orders of magnitude more people with that same amount of money, so these are the kind of statistics that surprised me and made me realize effective altruism, this makes a lot of sense, what can we do?

And we met with some effective full-time altruists, some of whom we actually originally based. Here at Oxford we decided to create an organization called Raise for effective donations, raising the tokens etc., and our goal is two things, firstly, we want to raise as much money as possible for various highly effective charities and Secondly, We want to build a movement of effective altruists within the poker community. The charities we raised money for were taken from top recommendations. Two independent charity evaluators, one of them is GiveWell and the other is animal charity evaluators. just a few that we've raised again, we actually also included a couple of extremely important and underfunded research institutions, one of which is again based here in Oxford, the Future of Humanity Institute, with which some Of you might be familiar, Professor Nick Bostrom is here and they are one of the charities that we support and so far things haven't been so good.

I think it's been going very, very well, we've been running for almost two years and we've raised just over a million dollars and I have plans to host some similar poker tournaments. There have been very successful poker tournaments in the US raising money for charities so we would like to do something similar for these effective charities and the next thing we have in mind and this is maybe something you guys can do think: we want to expand with this model similar to other industries, just some silly acronyms that I came up with with vegetable volley to let you know tennis, there is a huge industry, there is a lot of potential to raise a lot of money or the one I have my eye on, the financial industry, we could have some tea. effective algorithm traders again, it's a huge industry, there are a lot of people who think very mathematically and probably understand effective altruism and realize its importance, so yeah, any ideas you guys have on how to do something similar would be really great and yes, any questions you may have are fine, thank you very much and Jess will be using a microphone so if any of you have any questions you would like to ask live, raise your hand and remember to speak directly into the microphone. so we can catch the recording of your voice board, see someone behind you, thank you for coming to talk to us today, thank you, practically speaking, we can't go to a poker table with these charts in our head calculating balances of Nash and at the same time doing readings. and trying to look at our stack, so what are some practical tips that we can take with us now to get us on the path to optimization as we continue to learn more about this optimization strategy?

I mean the, I guess, practical tips that you can The first thing you should do is play to accumulate as much data as possible, so I guess you play online etc., take note of all your interesting hands and then work with the program. I mean, I can talk to you more. You'll also talk about these beliefs with a specific program later and really analyze what were the optimal plays that you could have made in that situation and try to break the game down into as many of these little flop textures, etc. It's a combination of memorizing it and getting familiar with the distributions of what you know, what percentage of hands you should bet big, small, etc.

In terms of practical advice, I mean, Eagle, you're the one. Expert, what would you do? What have you been doing to file a player request for this money? It's probably good practical advice and play for more money when you're good, so I'm referring to the things you mentioned at the beginning, like the two thousand and five. The strategies, as you call them, are still valid and depend on who you play against, they will lead you to success or victory and also I guess what was said in the interview is true, like just by playing more you develop experience. and you develop a subconscious or better and faster intuitive data calculation and this really definitely helps in making better decisions, I mean in terms of using programs like this, so how do they apply?

I mean, in real time. if you can get to the stage, am I there because of fatigue or is it already like a very subconscious behavior, yes, I try, I try and visualize it like this, if you can really visualize, imagine the distribution, the distribution of the range in your head. and then seeing what parts are excluded this way might work for some people, some people actually do for me. I like to just name their hands in my head, like, well, what hands would continue here? Jack nine King King Queen Queen Jack ten, etc. and saying verbally that works for me, others see it visually, so yeah, experiment with those different things and really just mark, name those hands like in each situation, okay, now they have just this, those have been eradicated, this , this, and then, yes.

Eventually, you do that enough that the process becomes somewhat automatic. I think it's a very good time, especially because often the mistake that a fall can make is going with him or he right here erased me. Hello, he feels like Ace King and then. for you it's a confirmation bias that you then succumb to by looking for things that agree with the theory that it's asking instead of things to pay attention to, what else it could be and how you would behave if it weren't. a is king, etc. and then you want and that's why I like this, naming other hands helps like you're not saying oh, he feels like ace king, but he could be his king, his queen is Jack, if he was bluffing, he would have done it. ten seven to ten eight suited I guess a lot of those hands and then, oh, he bets and then if you just like to run a pair, then you hold a little bit more sincerely in your mind this less biased view, I guess that's what What do you want?

So yeah, you talked a little bit about how people try to be good actresses but fail at it. I'm just curious if you have any other examples aside. of the ones you've already mentioned and failing that, when you play online, it's also the case that people try to be actresses but fail and well, I guess that's the question, yeah, I mean, you're definitely definitely online. , people, I know. In me, you know I have a monster and I like how I can extract the most value from my part. You have a very strong hand, how can I extract the most value?

Then I'll try it and think carefully about what the howl is. Would I like to think about it? I know I have an instant decision, I really know I'm going to raise and so on, but if I do that action really quickly, well, again, they're if they're half decent, they're going to do well, she didn't have to think much about it. , that means something, so you can act that way, something like tank, it's called tank, think for a long time before making a decision. and then in terms of the actual kind of bet size that you make, you can try to tell a different story than what's actually the truth, so to some extent you can do it online, whilethat live, obviously, there is much more. the kind of holistic overview of human behaviors that you can do that will try to tell a different story, you know, look, make yourself smaller to try to show nervousness or, if it's someone who knows that, then exaggerate by saying that you're strong and that think. that you're weak and stuff, so I can't think of any specific examples and you think of any, yeah, yeah, I just mean think about what level of comfort you would normally have given to what you're representing and then do the same thing.

The opposite, but as always with all these games, it is a game of levels. You know if they're at level one, level two and then you have to go one higher and you often get into these strange and charming wars, but in general, people are simpler. than you think and, being another kind of rule of thumb, don't level up because people are probably not as high up on that tree as you think they are. The next question is: is there someone like bats and, again, this is to top it off. It seems likely that within a decade computer AIS could beat humans at online poker.

If you agree with that, do you think online poker is going to die? Do you think it's going to become much more face-to-face and would that be a good or bad thing? um yeah I mean I agree with you I think I think it's coming and we just saw what happened with go it's happened a lot faster than we expected so yeah it is. I mean with Texas Hold'em in particular, I mean the decision tree is a lot more than going, you know, it's huge, an order of magnitude bigger from what I understand, so it's going to be, I don't know.

Have I ever gotten to the point where it's been completely resolved, I guess, I guess we'll assume so, and then in that case, yeah, it will, it'll probably be a matter of time until people have figured out how to fix it, already You know. some running on their computers at the same time, there is a chance that at some point in the future online poker will break. I don't think it's going to happen too soon for us to worry, but it's definitely a possibility. but, America, we were talking about this before you said that you don't think it's going to be a big concern, but well, you know, I actually think it's almost inevitable that it will happen because there's a decent amount of money involved in online poker. and so there is no center to build robots that can play very well and currently it is difficult, like for example the show that was shown live is a lot once under these places, but I have been renting a server of fabric and computing and It still takes a long time to go through a situation because of the regularity of many different trees about such a victory or something else, so I think it will take a few years, but I don't really see it.

It's not happening like some people see later or maybe just algorithmic planes going back to playing against each other in online poker and just people writing code instead of just playing against each other, but it will probably be a very different game and It will be very interesting for the general. background for fun gamer or recreational gamer and so it's done, but it has everything, we stayed in light brown and since this is probably never going to change, enjoy all these other aspects, yes, there are very few, I mean, There are some players who only exclusively.

We play online but most of us know that our main pleasure comes from playing live anyway because we are still social creatures, we enjoy social interaction and running a great bluff is satisfying online but it doesn't compare to anything with get away with it successfully. in front of someone and looking me in the eyes and there may be accommodations in online poker that let you know that you have to play with a webcam, etc. I mean, it will change the game, some people may not like that, but That's a possible solution, I don't know, but I don't think it's going to happen for a few years, so get into your online poker now, some security is responding to the place, yes, for example, as a single company.

He's also looking to integrate into the room there. I don't know what will be there, but maybe it could if there are biometric sensors in place. I don't know, currently it's a pulse, but later maybe I can do it. Just look at how they actually take some themselves instead of someone else, but for that the incentive would have to be pretty big to keep it that way, I guess if that were the case, now computers play against people instead of people against people, this will probably make the entire industry smaller at the moment and then complicated security measures are also this.

I think we have time for two more questions, so I'm here at the front, okay, and then yeah, you know. and comm

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and you play differently when you know your hands are going to be on the television than when they're not um I'd like to say no but actually yeah ah I've definitely played some of my some I don't know like that there was one that was on YouTube that actually I didn't show it. I should have, where I bet five on Bluff. It was just this weird situation where someone didn't click and there's a lot of confusion.

I remember thinking, oh, it seems. It's amazing if I do a bluff here and it's on TV, yeah, so there was definitely maybe if I was on the fence of where am I going to run this bluff or not and then I was like, wait, this is going to show. and even if I don't get my way, I still called, yeah, okay, let's try it, so yeah, yeah, yeah, it definitely makes a little difference. I'd like to think not much, but I'm probably a little bit more creative and stylish because it's nice to look cool and it's okay, um, let's have a chance, man.

Hey, my name is, I'm render. I'm from business school. My question was about the businesses that have been evolving around poker. It started in casinos, then came online gaming and you talk about charities, you talked about a security company. I see a lot of new businesses emerging and I'm not a risk-taker. I can't really play poker there. but yeah, what kind of businesses do you think would evolve in the next five years around the poker industry that can transform the industry or maybe develop some new brands? Hmm, well, there's one that started recently that I find very exciting, it's called global poker.

League and their goal is to create this very sporty. If I would like a league with teams of players, there is the London Royals of London, of which I am the coach, the London Royals and then there is a team from New York and a Brazilian team, etc. and the goal of this is to combine it with these big gaming events that have, you know, the Starcraft championship and so on, they are big live events and they have been extraordinarily successful and there are a lot of good reasons why poker could also have the same success if we can start creating similar teams that people can support etc., because before you knew you would have your favorite player, but now we have these teams of excellent players selected or in battle and you can create stories from that and so on, so it's a new venture that's been pretty exciting and in terms of other businesses, so I guess what's the point of Poker Stars.

For example, they've moved into more apps, etc., much more focused on purely recreational players, like jackpot poker and this kind of thing where it's kind of a mix between social media and kind of just having fun, just play. on you in your mobile game, not for real money, so that's becoming more popular, you know, people will spend a lot of money playing like Candy Crush or I don't know Farmville or whatever those games are, whether you know buy things and It's not that you can ever extract money from it, but people pay for that entertainment and I can see that some poker works well in that, also people can buy, buy chips or buy, you know, you can add something to your avatar and so on.

There seems to be a lot of popularity in that and I could see more of that type of thing developing. Can you think of something? Yes, it used to be more of a part of the life of the game and now it is being, and rightly so, more in the scores here and The sport is generally only for businesses used in the entertainment industry and therefore I think that most What happens in the future will also take place around it, so whoever you want to compare this to, I guess it's golf events. For chess events, similar things will work like what you gave me, so Twitch is the firm quite a bit, we've talked about this, so there will be more, it tends to make it more motor, okay and I think just one more question, just keep in mind.

I just have a question about heads-up play because I think a lot of people prefer and are more comfortable playing 900 or maybe 600 and obviously when you play heads-up people get more aggressive as the range becomes more broad. and then the dynamic changes, so I wonder what kind of budget there is for the change of pace in the game as soon as you're between just two plays. Yeah, I mean, you're absolutely right about heads-up, which is when you're just playing one-on-one there's essentially nowhere to hide, whereas with 9 players you can sit back and play like you saw before with a range of hands that you play, maybe you are only playing certain positions 10 15 20% of the hands, whereas when you are playing heads up if you only play 15 or 20% and every time you have to bet some money or chips you will quickly erode yourself, you will play too much tight, so you'll have to do it.

If you're really comfortable playing these types of more speculative hands, you have to understand the intrinsic value of jack-jack 6 offsuit, whereas before you wouldn't have even thought about playing it in a full ring game, so yeah, heads up expensive. It's a great way to become a better poker player. um, really focus on short-handed because particularly few played with deep stacks because there's a lot of room for creativity. You have to really understand the range because the ranges are much larger. you need to understand them better and in terms of practice you just play with small stakes and get familiar with what you are.

You know what the optimal plays are. There are a lot of really good videos that show Does it run right away as they have some good direct ad videos on there and so on. Yeah, I would get used to watching them and seeing what kind of ranges people are playing and what type. of things they are thinking and you know, but something like an ace high in a full circle game is not very valuable at all, but in heads-up it is very often a hand that you want to cool down with, so again it is He is having that experience again. turn up, unfortunately, that's all we have time for this afternoon, so join me in thanking Brie live for coming.