Dear Mark,
In poker, could you please explain the difference between a loose and an aggressive
player? Fred T.
An aggressive player is NOT the same as a loose player though the two are often
confused. Frequent raising and re-raising characterize an aggressive style of
poker play. Good aggressive players are very selective about the cards that
they will play, but become assertive once they get involved in a hand.
Playing loose simply means playing more hands and holding onto them longer,
essentially being "loose" with your money. Surprisingly, Fred, being
a loose player doesn't always reflect poor play, especially since being an extremely
tight player can cost you dearly, particularly at higher levels of play.
Dear Mark,
Your answer to the reader's question concerning state lotteries was not on point.
All state and multi-state lotteries advertise with the disclaimer that the total
advertised prize is payable in annual installments, usually 20-30 years. The
two winners could have had the entire $20 million if they wished to take their
halves over the 30 year period. It is just like buying an annuity. The winners
in this case took the other option, receiving the present value (the cost of
buying the annuity) of the $20 million in cash. If the cash is chosen, federal
taxes on the whole sum received are withheld immediately. The winners taking
cash therefore wind up with about 40% of the total prize, equaling $4 million
each. Bob J.
With over 400 columns written, it still amazes me when readers spot everything,
especially my fuzzy, at best, response to a lottery question a few weeks back.
Many writing in stated the purchasing of an annuity as Bob describes above,
while others brought up the facet of federal and state taxes being withheld.
The answer should have been that most lotteries give the winner a choice of
either taking the prize over time or taking a lump sum up front. What many lottery
players don't realize is that when a publicized weekly lotto grand prize is
as the question stated $20 million, the lottery has only half of that amount,
$10 million, on hand in cash for the winner. Like Bob asserts, to make up the
difference, a state lottery will buy a $10 million dollar annuity from an insurance
company or bank, which creates a paid up savings account that promises to collect
interest on the money so that the interest and principle will total $20 million
in 20 or 30 years. Doing this allows state lotteries to offer jackpots twice
as large as the actual amount of money available. If the person takes the upfront
cash option, they get slightly less than the amount used to purchase the annuity,
Uncle Sam snatches his share, and only then can the champagne wishes and caviar
dreams begin.
Dear Mark,
Your Jacks or Better video poker strategy cards states drawing three cards when
you have a 3-card straight flush. My question is, must the cards be consecutive?
For example, should it be a 7, 8, and 9 of hearts, or can they be any three
cards that could form a straight flush? M.C.
A three-card double inside straight flush with one high card (5, 7, and Jack
of hearts) or, a three-card inside straight flush with only one gap and no high
cards (5, 7 and 8 of hearts) are hands of slightly more value than two high
cards. So, M.C., keep your 3-card straight flush. Otherwise, two high cards
would be a keeper if your 3-card inside straight were a double inside straight
with no high cards (5, 7, and 9 of hearts).
Gambling quote of the week: "Always play the machine nearest the door.
No, not because it's programmed to pay out more but because you'll have a fast
exit when you lose all your money." --Frank Scoblete, Gambling Author
