Poker, The Parody of Capitalism [A Review]
Since coming to college, I've experienced a rite of passage for future quants: getting addicted to poker. Unfortunately, I'm not that good at poker. I know the ABCs, but I'm still the worst players at the table I play at. There have been many nights where I've felt mad/sad/not-rad both about the cards that were dealt on the table as well as about the way I played my cards. As such, the benefits that the game of poker brings (monetary gain (unlikely), a fun game, escape from school/stress) are far outweighed by the negative side effects of the game (monetary loss (likely), getting beat by a bad beat, time meaninglessly spent at the table, late sleep schedules).
Which is why I initially picked up this book framing poker as the parody of capitalism. I was interested in poker, I was losing at poker, there was the word "Zizek" in the description, and the book offered (and delivered) a comprehensive philosophical view of the game of the poker - this book examines the cards, the players, the environment, and the nature of the poker game itself, and a way to think about the game philosophically. I like this book.
The Book
The book, Poker - The Parody of Capitalism, by Ole Bjerg, is great. It wasn't a particularly long read for me, and it covered some interesting parts of the poker world/community and brought up Zizek's extension of the Lacanian concepts of the "Real", the "Symbolic", and the "Imaginary". The book's introduction gives a great overview of what this book will cover: Part 1 is "a philosophical analysis of poker", Part 2 "analyzes poker empirically as an economic system for the circulation and distribution of money", Part 3 investigates "different forms of subjectivity in poker", and Part 4 "investigates the cultural meaning of poker and the relation between poker and capitalism" (4-5, Bjerg). As such, I would recommend this book to anyone who has a philosophical side and enjoys the game of poker in the ideal sense. It's an illuminating read on the philosophical aspect of the game and it does a decent job at improving a poker dabbler's general knowledge in the game on all fronts. 9/10, worth a read if you're interested (but not too invested) into the game of poker. It should be noted that this book is outdated — published in 2011, some sections (particularly the parts about the poker economy) are outdated and unrepresentative of the current poker landscape.
Notes
Notes1:
Part 1
(Introduction)Poker gives players the conditions to "play with the existential conditions of life." — I love this quote; it sets the tone for the book, sets up the author's final point (the connection between poker and capitalism), and captures the spirit of the game perfectly.Ch 1talks about the triad of the imaginary-symbolic-real, Zizek's "ontological constitution of the world." — The rest of the book references this framework when examining the framework of a thing - a decision, a player's mind, the game itself.(15, Ch 1)The real is uncanny. "When hearing our own voice, we seem to regain awareness of the real of the voice insofar as we abstract from the meaning of the words spoken. Such experience is often accompanied from the fact that we are not used to such direct experience of the **real*" (15). — Great line that captures the sensation of hearing your own voice perfectly. (Since reading this, I've also tried to listen to my own voice more.)(17, 22)Chess is symbolic, Roulette is the real, Rock Paper Scissors is the Imaginary; the "unknown" (real) is inherent to short term winning (in roulette).2(28)— So it turns out, there's intense Rock Paper Scissors strategy and even "gambits" that can be played. (I maybe will try to make an AI to play RPS later).(52, Ch 3)"The aggregate (long run) cannot meaningfully speak about the 'now' (short run)." — Well ain't this the economic reason why people gamble: they're dead in the long run but the long run (after infinite roulette spins) but since the long run is a fantasy that doesn't exist, it's potentially possible to make a profit against the house just because there is no such real thing as "in the long run".(60, 62)The existence of an optimal poker strategy does not mean there's an optimal poker action; There is not optimal poker strategy. — Unlike chess where you can turn on stockfish and it's pretty cut and dry what move is best and what move isn't, the ambiguity of the best action in poker means it's a human game but also that it's really challenging.
Part 2
(82, Ch 4)Fish, Shark, Donkey, Whale — this is classic poker terminology lol(87)[A Win/Loss chart of the poker economy] + Discussion about rakebacks. — Key conclusion: At each stage of the game, most people lose money. Many, many small losers explain why there's so much money at the poker space; only people at the top will really be earning a big profit.(Ch 5)[Data Overview about the styles of play (TAG, LAG, TP, LP) and the poker economy] — Key conclusion that's reached here is to be a TAG :P
Part 3 - Poker Psychology; Suckers, Grinders, Players
- Definitions:
- Sucker: One who plays luck; they play (hands) primarily to see if their luck "hits". These guys sit down "just to get involved" and "to test and display their character"
(145). - Grinder: One who plays the cards; they play based on the value of their hand and thus they're "playing the cards"
- Player: One who plays the opponent; they play off of the opponent and while they (hopefully) know statistical odds / hand values, they're primarily "playing the person" rather than the cards.
- Sucker: One who plays luck; they play (hands) primarily to see if their luck "hits". These guys sit down "just to get involved" and "to test and display their character"
(113, Ch 6)Being a professional poker player is a "genuine career opportunity." — With that being said, you still have to study the book, play lots of hands, control your tilt, stay focused, stay concentrated, and do the work. You can't get good without serious practice.(115)Poker mastery means emotional mastery.(118)[Table 5. The Seven Skills of Poker] — The skills are Technique and Strategy (Knowing the odds, knowing how to play hands, strategic moves, etc. (everything related to the cards)), Reading Skills (Reading opponent's cards/style of play, managing your style of play), Game Selection (Finding games where you have an edge over less skilled players), Bankroll Management (Adjusting the stake level that you play at based on how much you have and how good you are), Concentration (how well can you concentrate at the table?), Tilt Control (Emotional management), Goal-Setting (why do you play poker? how does poker integrate overall into your life? what do you want to achieve by playing poker?)(122)Bankroll management: You should have 20x Max Buy-in (~125BB buy in => 2500BB bankroll needed) to be able to (monetarily) afford to play at said table.- The mindset you need to have is to Play for chips, not money.
(129)"The ordinary approach to the world is severely challenged in the domain of poker." — Especially when a player suffers a bad beat ~ tilt is real.(147, Ch 7)For the Sucker, gambling is antagonizing chance and questioning destiny their destiny. — Yeah, I've definitely felt this before. I've been in hands too pricey for me to be in just to see if I could hit that last card.(152)The Player plays. They know the math but they also know the flaws of what math/GTO will show/tell you. The Player's edge is on their superior reading skills of the opponent.(159)The Player "must be fueled by the simple drive to gamble."(163)[Mobius image of poker player types] — This is actually a pretty good image; go read the book!(Ch 8)- "Losing Yourself" — The chapter on problem gambling, despair at the table, losing money, downswings, and the emotional state of players.
Part 4 - Poker and Capitalism.
(195, Ch 9)Drive vs Desire distinction — Desire is focused on a particular object, while drive is not directed at any object.(197)Rules of a game (that are stupidly arbitrary) parody the laws of a society.(200)"Poker without real money is not poker" — can substitute in 'real money' for anything of significant value for the players around the table (money being the most common thing that has sorta significant value)(Ch 10)- Poker's History (is interesting.)(Ch 11)- Poetry of Money(224)- Gambling without money (monetary / labor value) is boring - it's an inherent part of gambling.- [Lots of examination about capitalism and the way poker parodies it] — This chapter was pretty dense to read but I like this one key point about winners and losers; Poker mirrors capitalism. And in poker, it's very obvious who the winners and losers are ~ winning a pot means taking chips from everyone else at the table. In capitalism, this winner/loser dynamic is obscured; capitalism recognizes the 'winners' and brushes off the thousands, and millions of losers who lost for the winners to gain.
(243)Poker reflects society.