House Financial Services Committee: Key Issues
Let’s take a closer look at some of the key issues to come from Thursday’s House Financial Services Committee hearing regarding poker and Internet gambling bills. Many of these points are likely to come up again when chairman Barney Frank (D-Mass.)…
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Useful poker information:
- HIGH-LOW SPLIT - Forms of poker in which the pot is split between the best hand and best lowball hand.
- EXPECTATION - The long-run [dis-]advantage of a given situation, specifically without reference to any particular outcome. I.e., what you figure to win [lose] on average after a large number of repetitions of the same situation.
- WHEEL - A-2-3-4-5. Usually discussed in the context of lowball where it is the best possible hand. Can also refer to a 5-high straight in high games. Also: BICYCLE.
- TOKE - Gambling term for "tip", as in "Toke the cocktail waitress". Comes from the term "Token of appreciation".
- STAKE - The amount of a player's BUY-IN, or the amount of money they are willing to play with in a given session. Compare: BANKROLL.
- LAY ODDS - To give favorable odds to an opponent.
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