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Extra info for The Economist (23 November 2013)

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If you also bring something to the table, it’s possible to win. You still have to learn how to play poker or trade, or whatever other skills are necessary for the risks you choose to take. qxp 16 ♠ 1/30/06 9:24 AM Page 16 THE POKER FACE OF WALL STREET trade at a time. Nobody gives you anything—not in my fields, anyway. But you’re much better off with a plan that involves winning against strong players than one that relies on finding lots of suckers. OPPONENTS I wanted to write a poker book without using the word opponent.

This consists of three of one rank and two of another. Among full houses, the higher set of three wins, with the higher pair breaking ties. You get 1 full house per 694 five-card hands, versus 1 per 39 seven-card hands. qxp 1/30/06 9:24 AM Page 29 POKER BASICS ♠ 29 Next comes a flush, five cards of the same suit that are not in sequence. Flushes are ranked by highest card, then next highest, and so on. beats One in 509 five-card hands is a flush, and 1 in 33 seven-card hands. Flushes are followed by straights—five cards in sequence that are not all of the same suit.

Each player is dealt five cards face down, after which there is a betting round. Each player remaining in the pot is allowed to exchange some or all of his or her cards for new ones (some games limit the draw to no more than three or four cards, but serious players would rarely draw four or five cards, anyway). Another common rule is that the first bettor must have a pair of jacks or better. Draw poker plays best with limits and often uses wild cards. The only information you have about the other players’ hands in draw poker, other than the general strength you may or may not be able to infer from the betting, is the number of cards drawn.

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The Economist (23 November 2013)

by Charles

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