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Comment by Marazan | Hacker News Reader

As a poker player: poker is gambling.

Pretending it isn't doesn't gain you anything.

It is different from slots or roullette because rather than the house you bet against other people but it is totally gambling.

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It may still be gambling in the sense that there's a large element of chance that dictates the game, but it's not the same as something like Baccarat or poker which is strictly a game of chance. The element of skill can cause variance in outcomes over the period of play. It's important to make that distinction because you're getting into gray areas here.

Are actuaries and insurance companies engaging in gambling? They're essentially betting on not needing to fulfill the terms of the contract for unlikely outcomes by analyzing the "odds" over time. Often, they "lose" the bet and have to pay out, but they reliably win more than they lose. Of course, good poker players are probably not getting matched up with amateurs, so it's not exactly identical.

Insurance companies engage in a co-operative relationship with the people who take out insurance products with them.

When you insure your house against fire neither you nor the insurance company want your house to burn down.

In a gambling scenario the layer wishes the bet to lose and the backer wants it to succeed.

Edit: that should be "baccarat or slots", not poker. My point is that poker, specifically Texas holdem, isn't strictly a game of chance.

I agree. Poker is a game of skill, but it is still gambling. You need to treat it as an entertainment expense and budget accordingly.

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