Okkies, I went back and obtained the quest again.
The quest is obtained from Black Mack. He is located in the tavern across from Tobias Bladepratt in Port Royal.
The quest is called "Win at Poker" and states that you'll get 1 point of general reputation for completing it. You are required to win 150 gold at the poker table.
Head over to the other tavern in town and there is a poker table there that you can use to complete the quest.
Afterwards return to Black Mack and he says he'll give you something if you kill a skeleton. When you've killed one return and he'll say he gave you a card and not to use it against him.
If you check your "treasures" panel it will say 0 cards... however when you return to the table you will have the option to swap out your card and at that time can cycle through the options to see what card it is he gave you. It's completely random and the game will ask if you are sure you wish to swap the cards.
So I gave it a try. I hit the "ok" button and failed

lost my card, but no harm done I continued to play. I then completed the quest again and went back to try again. This time I succeeded! Lost the hand still

then a window popped up that stated this...
The dealer inspects the cards and you have been caught cheating. Your table winnings have been confiscated and you have been fined 100 gold.
Then next thing I new... I was in jail.

On a good note though... I didn't loose any morale.
I'm unsure if the card I swapped for was already "in play" and hadn't even thought of that until after the fact...

or if it was because I lost the hand.
I attempted to swap cards another 4 times and so far I keep failing
Hehe, cheaters never win... well I don't anyway
There's my update to my gambling streak. Good Luck!
Stay outa jail!
-SH