Re: How can fish NOT know about rake? Outrageous true example.
the problem is that alot of people cannot grasp the concept of long term equity. an example of this would be trying to tell someone that playing in tournaments is -ev because if you win you are forced to pay taxes on the money but if you lose you cannot deduct your buyins because you have no income to report anyway. i have heard so many times from so many people "but who cares if you pay taxes on a tournament win, winning something is better than winning nothing." an advanced concept of why tournaments are -ev is because if you win a large tournament you are put in a high tax bracket but if you deduct your buyins from your income youre deducting from a lower tax bracket making the proposition -ev if your ROI is less than the tax differential.
they just dont get it.
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