Learn poker for quant
Begin with the deck and the rules. Build an explicit model before calculating a decision. Lessons are public and the checks are untimed.
The table and the numbers
Start with the deck, a hand, and the amounts you are deciding about.
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- Reading the deck →7 minutes · beginner
Learn ranks, suits and what a uniformly shuffled deck does—and does not—tell you.
- A hand of hold’em →8 minutes · beginner
Understand hole cards, the board and the best-five rule before interpreting a probability problem.
- Hand rankings and ties →9 minutes · beginner
Compare five-card hands by category, then the relevant ranks—not the suit.
- Actions and betting rounds →8 minutes · beginner
Distinguish a check, call, bet, raise and fold, and read “raise to” correctly.
- Chips, fractions and percentages →8 minutes · beginner
Move between counts, fractions, decimals and percentages without changing the event.
- Odds versus probability →7 minutes · beginner
Distinguish wins-to-losses odds from a share of all outcomes.
- The price of a call →10 minutes · beginner
Calculate a final-call threshold with clear cash flows and no double-counted chips.
- Explaining your first decision →10 minutes · beginner
Turn a calculation into a defensible explanation, including its assumptions and limits.
Probability and counting
Build sample spaces and count outcomes without replacement.
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- Equally likely outcomes →9 minutes · intermediate
Choose elementary outcomes carefully before dividing one count by another.
- Complements and unions →9 minutes · intermediate
Use what does not happen and subtract overlap when “or” events meet.
- Conditional draws →10 minutes · intermediate
Update the sample space after a reveal and multiply probabilities along a path.
- Combinations versus permutations →10 minutes · intermediate
Count sets and ordered sequences with consistent denominators.
- Pocket-hand counting →10 minutes · intermediate
Count pairs and suited hands and understand why hand classes have different weights.
- Runouts and outs →10 minutes · intermediate
Use complements for multiple draws while keeping “improves” separate from “wins.”
- Hypergeometric models →12 minutes · intermediate
Count exactly k successes in a fixed-size draw from a finite population.
- Counting under constraints →12 minutes · intermediate
Apply required and excluded categories without counting the same hand twice.
Expected value and risk
Model cash flows, variability and decisions under uncertain estimates.
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- Net payoff and sunk costs →10 minutes · intermediate
Choose the decision point and count only the cash flows that change with your action.
- Expected value as a weighted average →10 minutes · intermediate
Build an outcome table and keep the mean separate from a prediction of one result.
- Pricing a bluff →10 minutes · intermediate
Separate fold probability from showdown strength and compute a zero-equity bluff’s price.
- Ties and shared pots →11 minutes · intermediate
Add split-pot outcomes and distinguish outright win probability from equity.
- Variance and standard deviation →12 minutes · intermediate
Measure dispersion around the mean and keep squared units distinct.
- Repeated bets and dependence →12 minutes · intermediate
Add means freely, but inspect covariance before adding variances.
- Risk budgets in a toy model →11 minutes · intermediate
Apply an explicit loss constraint instead of treating positive expectation as sufficient.
- Sensitivity and model error →12 minutes · intermediate
Ask how much a decision changes when an uncertain input moves.
Inference from evidence
Use actions as evidence while keeping priors and assumptions visible.
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- Conditional directions →10 minutes · intermediate
Distinguish how often a hand produces an action from how often that action means the hand is strong.
- Base rates →10 minutes · intermediate
Keep the size of the starting populations visible when a signal seems persuasive.
- Bayes with a frequency table →11 minutes · intermediate
Derive a posterior by counting state-and-action cases before using a compact formula.
- Likelihood ratios →11 minutes · intermediate
Express evidence as a multiplier on prior odds rather than on probability.
- Evidence from a check →10 minutes · intermediate
Use the likelihood of the action actually observed, including an absent bet.
- Sequential updates →12 minutes · advanced
Accumulate evidence using conditional likelihoods and avoid counting the same signal twice.
- Uncertain opponent frequencies →12 minutes · advanced
Distinguish assumed behavioral rates from small-sample estimates and examine posterior sensitivity.
- Calibration and scoring →12 minutes · advanced
Evaluate probability forecasts across repeated cases without confusing one outcome with a verdict.
Strategic reasoning
Understand incentives and simplified games without pretending to solve full poker.
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- Actions and payoffs →11 minutes · advanced
Specify who chooses, what they know and whose payoff a table contains.
- Dominance →11 minutes · advanced
Compare actions against every opponent action before using a distributional guess.
- Best responses →11 minutes · advanced
Optimize against a stated opponent distribution and see where the preferred action changes.
- Indifference →12 minutes · advanced
Use equal-payoff conditions to identify candidate mixtures, then check both players.
- Mixed strategies →12 minutes · advanced
Understand randomization as a probability distribution, not a predictable alternating script.
- A bluff-catch toy game →13 minutes · advanced
Derive response thresholds from a small river model without claiming a complete poker equilibrium.
- Exploitability and model limits →12 minutes · advanced
Measure how much a best response can gain in a specified zero-sum game.
- Information and incentives →12 minutes · advanced
See how observation rights change a game and why strategic actions are not passive signals.
Quantitative applications
Connect explicit poker models to estimation and interview reasoning.
This track is being written. Existing free practice remains available.