Poker, Predictive Analytics, and Big Data

It is a great metaphor for business because we rarely possess perfect information.
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Poker, Predictive Analytics, and Big Data
Photo by Chris Liverani / Unsplash

I have been playing poker ever since I was a kid. Since that time, I've become pretty good at it. I moved to Las Vegas about 18 months ago and, in that time, I've won more than I've lost. I'm just lucky, right?

Probably not. Many people fail to understand that the odds in a casino vary tremendously. It all depends on what you’re playing. Some games represent much better bets than others. Let’s say that you play blackjack by the rules (read: not hitting on 18 when the dealer is showing a six). In this scenario, the house still holds an eight percent advantage. In roulette, if you bet on black or read, you have a 47.3 percent chance of winning (18/38). (You’ll never find favorable odds in a casino, at least legally speaking.)

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