EPTWhen does something become yours? - Page 2
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Bill Murray
United States9292 Posts
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EtherealDeath
United States8366 Posts
On November 21 2010 18:41 Rekrul wrote: it belongs to no one at the time, it is merely being held by TD who has responsibility don't even know why this retarded question is getting a thread or im replying lol You read poker and couldn't resist? On November 21 2010 18:42 Bill Murray wrote: asian roommate quabbling draws in like a black hole I guess it was too obvious that my roommate is asian eh T_t | ||
Rekrul
Korea (South)17174 Posts
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xianglongfa
United States13 Posts
If an insurance company operates on any low commission cost with respect to the amount of winnings, then the value of the prize money could theoretically be close enough to 95% anyways. I.e.: Your position can be exchanged with the insurance company for 9.4k in hard cash at that instant. Your opponent could exchange his position for some value close to 500 as well. The definition of ownership as applied to something like money can only be related to the insured future spending power of that piece of paper if it is to have any significance at all. In this regard, we can always change the percentage chance of winning to being arbitrarily close to 100%, and still have the same fundamental argument. This value could theoretically match the nonzero probability of money disappearing from your wallet, or your account at your bank being deleted. | ||
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mmp
United States2130 Posts
If the hand is disrupted for any reason, players return to their pre-hand wealth, as though the hand never happened. The fact that one player has a greater chance of winning doesn't preclude the opponent's chance to win it, so an expected-value breakdown is not fair outcome unless the winner has 100% chance. So in this regard the players have equal holding. The tournament director owns no more than the proportion of the money that is paid to the house. Possession matters very little, nor does the notion that it is impossible to "own" something: there is an agreement among all agents what money and ownership represent, and chips are a measure of that ownership. 50%-50% among the players. The intuition that the house does not own it is simple: No player would accept that the house owns 100% of their earnings in the case of some disruption mid-hand - they would demand back their pre-hand wealth. The house may serve as an arbitrator, but they are paid a small proportion for their honest service as an intermediary between players. If guns were entered into the experiment, then the likelihood of violence is an indicator that the house will not claim ownership. | ||
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HwangjaeTerran
Finland5967 Posts
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Simplistik
2094 Posts
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exeexe
Denmark937 Posts
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BottleAbuser
Korea (South)1888 Posts
But if we do care, then we can reasonably conclude it belongs at that moment to the organization that set up the tournament. They are planning (and probably contractually obligated) to give it to the winner of the hand as an incentive for future players of future tournaments. | ||
tofucake
Hyrule19193 Posts
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Kalingingsong
Canada633 Posts
- who 'owns' the money - who 'possesses' the money It's not clear who owns it, there might have been a contract when you handed the money to the TD that indicates the status of the cash (so it really depends). It IS pretty clear that the TD possesses (in legal terms) the money, which implies he has to exercise his duty to hand it off to the winner (unless there was a contract which stated otherwise). | ||
MightyAtom
Korea (South)1897 Posts
On November 21 2010 18:41 Rekrul wrote: it belongs to no one at the time, it is merely being held by TD who has responsibility don't even know why this retarded question is getting a thread or im replying lol +1 in this context of poker David Jung Former Regional Director of Pokerstars and Rek you replied because it's absolute madness why anyone could vote otherwise and you're stunned by the retardness | ||
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