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Liar's poker is an American bar game that combines statistical reasoning with bluffing, and is played with the eight numerical digits of the serial number on U.S. dollar bills (that is, excluding the letters/symbols which appear just before and after the eight numerical digits). The digits are usually ranked with the 1 as "ace" as the highest value, followed by 0 as "10", down to 2 as the lowest. Each player holds one bill, unseen by the other players. The objective is to guess how often a particular digit appears among all the bills held by all the players. Each guess or bid must be higher in quantity, or equal in quantity but higher in value, than the previous bid. The round ends when all the other players challenge a bid.
The game is similar in structure to Liar's dice.
In his 1989 book Liar's Poker, Michael Lewis details how Salomon Brothers traders would play liar's poker. He recounts how John Meriwether was once challenged by CEO John Gutfreund to a game of liar's poker for stakes of one million dollars. Gutfreund then declined to play when confronted by a counter-offer of ten million from Meriwether.[1]
- ^ Lewis, Michael M. (1990). Liar's Poker: Rising Through the Wreckage on Wall Street. Norton. p. 17. ISBN 978-0-14-014345-4.