Math 450 Senior Seminar Presents "Optimal Bluffing Strategies in Poker" today, Tuesday, April 28
Bluffing is a very important aspect of the popular card game poker, however, knowing when to bluff can be difficult. This talk will briefly discuss how to play poker, what the classical bluffing situation is, and then apply game theory in order to optimize betting strategies. As part of this analysis the expected returns of each player and the ideal frequency of bluffing and calling will be found. However, while exact probabilities for situations such as the opponent having the winning hand can be determined,
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it is often time-consuming and not realistic to do so during a game. As such, this method will rely on estimated probabilities that a player has the winning hand.