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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  1. Reading the deck →7 minutes · beginner

    Learn ranks, suits and what a uniformly shuffled deck does—and does not—tell you.

  2. A hand of hold’em →8 minutes · beginner

    Understand hole cards, the board and the best-five rule before interpreting a probability problem.

  3. Hand rankings and ties →9 minutes · beginner

    Compare five-card hands by category, then the relevant ranks—not the suit.

  4. Actions and betting rounds →8 minutes · beginner

    Distinguish a check, call, bet, raise and fold, and read “raise to” correctly.

  5. Chips, fractions and percentages →8 minutes · beginner

    Move between counts, fractions, decimals and percentages without changing the event.

  6. Odds versus probability →7 minutes · beginner

    Distinguish wins-to-losses odds from a share of all outcomes.

  7. The price of a call →10 minutes · beginner

    Calculate a final-call threshold with clear cash flows and no double-counted chips.

  8. 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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  1. Equally likely outcomes →9 minutes · intermediate

    Choose elementary outcomes carefully before dividing one count by another.

  2. Complements and unions →9 minutes · intermediate

    Use what does not happen and subtract overlap when “or” events meet.

  3. Conditional draws →10 minutes · intermediate

    Update the sample space after a reveal and multiply probabilities along a path.

  4. Combinations versus permutations →10 minutes · intermediate

    Count sets and ordered sequences with consistent denominators.

  5. Pocket-hand counting →10 minutes · intermediate

    Count pairs and suited hands and understand why hand classes have different weights.

  6. Runouts and outs →10 minutes · intermediate

    Use complements for multiple draws while keeping “improves” separate from “wins.”

  7. Hypergeometric models →12 minutes · intermediate

    Count exactly k successes in a fixed-size draw from a finite population.

  8. 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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  1. Net payoff and sunk costs →10 minutes · intermediate

    Choose the decision point and count only the cash flows that change with your action.

  2. Expected value as a weighted average →10 minutes · intermediate

    Build an outcome table and keep the mean separate from a prediction of one result.

  3. Pricing a bluff →10 minutes · intermediate

    Separate fold probability from showdown strength and compute a zero-equity bluff’s price.

  4. Ties and shared pots →11 minutes · intermediate

    Add split-pot outcomes and distinguish outright win probability from equity.

  5. Variance and standard deviation →12 minutes · intermediate

    Measure dispersion around the mean and keep squared units distinct.

  6. Repeated bets and dependence →12 minutes · intermediate

    Add means freely, but inspect covariance before adding variances.

  7. Risk budgets in a toy model →11 minutes · intermediate

    Apply an explicit loss constraint instead of treating positive expectation as sufficient.

  8. 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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  1. Conditional directions →10 minutes · intermediate

    Distinguish how often a hand produces an action from how often that action means the hand is strong.

  2. Base rates →10 minutes · intermediate

    Keep the size of the starting populations visible when a signal seems persuasive.

  3. Bayes with a frequency table →11 minutes · intermediate

    Derive a posterior by counting state-and-action cases before using a compact formula.

  4. Likelihood ratios →11 minutes · intermediate

    Express evidence as a multiplier on prior odds rather than on probability.

  5. Evidence from a check →10 minutes · intermediate

    Use the likelihood of the action actually observed, including an absent bet.

  6. Sequential updates →12 minutes · advanced

    Accumulate evidence using conditional likelihoods and avoid counting the same signal twice.

  7. Uncertain opponent frequencies →12 minutes · advanced

    Distinguish assumed behavioral rates from small-sample estimates and examine posterior sensitivity.

  8. 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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  1. Actions and payoffs →11 minutes · advanced

    Specify who chooses, what they know and whose payoff a table contains.

  2. Dominance →11 minutes · advanced

    Compare actions against every opponent action before using a distributional guess.

  3. Best responses →11 minutes · advanced

    Optimize against a stated opponent distribution and see where the preferred action changes.

  4. Indifference →12 minutes · advanced

    Use equal-payoff conditions to identify candidate mixtures, then check both players.

  5. Mixed strategies →12 minutes · advanced

    Understand randomization as a probability distribution, not a predictable alternating script.

  6. A bluff-catch toy game →13 minutes · advanced

    Derive response thresholds from a small river model without claiming a complete poker equilibrium.

  7. Exploitability and model limits →12 minutes · advanced

    Measure how much a best response can gain in a specified zero-sum game.

  8. 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.

Reference guides · Decision notes