Poker Quiz #2: Base Rates and Combinations

The use of base rates comes up often in poker, and can be useful when making decisions to fold, call, or raise. Most poker games involve hidden cards, but this does not mean we have to blindly guess what these cards might be. By using knowledge of the distribution of...

Rooting for the Favorite

Imagine this hypothetical scenario: The Patriots have advanced to the AFC Championship game against the Chiefs and are waiting to see who will play the Falcons in the NFC Championship game. The Eagles are playing the Packers in the divisional round for the right to play the Falcons in the...

Insuring the Indians’ Win Streak

ESPN recently ran an article about an Ohio-based window company that guaranteed any of its customers who installed windows (the kind that makes walls transparent, not the PC operating system), siding, or doors in the month of July would have their money returned if the Cleveland Indians had a 15-game...

Scrabble Strategy: Board Position, Leaves, and Bingos

Scrabble was my greatest passion for many years. I played in many national and international tournaments during Middle School and High School. Throughout this time, I was immersed in an intriguing and vibrant community of Scrabble players, where I witnessed the game and its various strategies. What I found most...

Poker Quiz #1: Expected Value

The idea of expected value is one that comes up often in poker and trading discussions. Expected value is the sum of the probability of each possible event times that event’s payoff. For example, if you were to flip a fair coin where you got paid $2 for heads and lost...

On Trading Games

We talk a lot on this site about how various games are related to trading. Poker is our favorite example, but we’ve also mentioned Agricola, Magic: The Gathering, fantasy drafting, and even video games. One may notice, however, that we’ve never mentioned a board game that involves trading. Why is...
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