Comment by tzs
11 hours ago
What about other games that people play for real money where the money for the winners comes from the losers?
For example in amateur chess tournaments it is common for the prize money to come out of the entry fees. Fairly typical might be a $15 dollar entry fee in advance or $20 at the door, and a prize fund of $350 ($200 first, $100 second, $50 third) based on 30 entries. It will be lower if they get fewer entries, but let's say they get exactly 30. Then 3 players are going home with more than they came with. The other 27 are going home $15 or $20 in the hole.
Would you feel bad if you played in such a tournament and finished in the top 3? Some of the 27 losers might have had a better use for their entry fee.
Surely the variance of amateur chess is far lower than that of poker.
Depends on which level of 'amateur chess', for kids there are real beginners who barely know the rules and ~1600-elo players in the same competition..
...and unlike in poker, the 1600 Elo players will beat the real beginners in every game. That's what I mean.
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