Publisher's Synopsis
The first Quantitative Analysis of Poker Staking
Poker staking, buying poker players into tournaments or cash games in return for a share of the potential profits, is most likely as old as poker itself. Famous codebreaker Herbert Yardley recalls being staked for 200$ in an Indiana saloon already in 1910, as told in his bestseller "The Education of a Poker Player." Even though the knowledge of playing and winning at poker increased tremendously since then, poker staking was never thoroughly analyzed until now. Sharp Staking: The Economics of Poker Tournament Staking is the first book that applies a comprehensive economic framework to poker stakes. Our book explains ...
- How to calculate the expected value (EV) of any stake.
- The difference between the nominal and real backers cut.
- Why many short-term stakes, including the popular stakes for a single tournament, may often be financially unfeasible.
- Why ultimately you should not try to maximize EV of an investment, but rather the growth rate of your capital.
- How to use the appendices that contain the results of more than seven billion simulations.
Advice from the Pro
In addition to the math, poker pro and veteran of the poker tournament circuit Alexander Fitzgerald shares his journey in the world of poker staking. From his own experience of getting backed and staking players himself, he gives a glimpse into the mindset of backers and players. From moral hazard to a first-hand account of the biggest staking scandal at the 2009 EPT San Remo, his writings give a blunt and unapologetic look at the underbelly of the poker community that will help you avoid the downfalls that so many backers succumb to.
