Original source: SimoleonSense.com .
“In online poker, a multibillion dollar industry, Siler concluded that the biggest opponent for many players may be themselves,”….sounds familiar
Click Here To Read: Online Poker Study: The More Hands You Win, the More Money You Lose
Introduction (Via Science Daily)
A new Cornell study of online poker seems counterintuitive: The more hands players win, the less money they’re likely to collect — especially when it comes to novice players.
Important Excerpts (Via Science Daily)
The likely reason, said Cornell sociology doctoral student Kyle Siler, whose study analyzed 27 million online poker hands, is that the multiple wins are likely for small stakes, and the more you play, the more likely you will eventually be walloped by occasional — but significant — losses.
This finding, Siler said, “coincides with observations in behavioral economics that people overweigh their frequent small gains vis-à-vis occasional large losses, and vice versa.” In other words, players feel positively reinforced by their streak of wins but have difficulty fully understanding how their occasional large losses offset their gains.
Click Here To Read: Online Poker Study: The More Hands You Win, the More Money You Lose
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