The Business of Poker - Analyze This, Part Two

In Part One of my interview with Paul Leyland of Seymour Price, we discussed the state of the online poker business. In Part Two we discuss the other possibilities for online gaming, and where it all may go.

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Useful poker terms:

• RACE - In tournaments it is sometimes convenient to remove all lower-denomination chips from play, as the remaining players' stacks tend to grow. Small chips are converted to larger chips and any odd chips are "raced off" in the following way: each player with odd chips places them in front of his stack and is dealt one card for each chip. Highest card (rank and suit) takes all the small chips and converts them to higher-denomination chips.
• COMPUTER HAND - Texas Hold'em hole cards of Q-7 offsuit. More generically, any hand that computer analysis/simulation determines is positive but turns out to be difficult to play in practice.
• SUITED - Two or more cards all the same suit. Ant: OFF-SUIT.
• INSIDE STRAIGHT - Four cards to a straight, where only one rank will complete the hand. E.g., 4-5-6-8 is an inside straight since only a 7 will fill (i.e., complete) the hand. Often called a GUT-SHOT. Compare: BOBTAIL STRAIGHT, OPEN-ENDED STRAIGHT.
• FISH - A player who loses money. An old saying is "If you can't spot the fish at the table, *you* are the fish.".
• BUTTON - A distinctive token held by the player sitting in the theoretical dealer's position, when a house dealer is used. The button rotates around the table so that every player has an opportunity to be the last to act. Also, "THE BUTTON" can refer to the player who currently has the button. ("I was the button and called the blind".) Synonyms: BUCK, PUCK.