Peter C. Earle provides a fantastic analysis of poker’s surge in popularity over the 2000s, showing that it tracks closely with the boom-and-bust cycle of the same era.
The 2003 to 2007 poker boom is deftly explained by application of the Austrian business cycle theory, displaying all the hallmarks of a central-banking-induced boom and bust cycle. And far less romantically than Horatio Alger tales of novice gamblers breaking big in Vegas, the ultimate responsibility for the poker boom lies with the Federal Reserve System.
I highly, highly recommend this piece; it is fantastic, original, and, most importantly, it is instructive for those who don’t yet have a full grasp on ABCT. Enjoy!