Let's put the games of chess or dice into context with the rune poem. In Anglo-Saxon as well as old Norse times the hall was a place were people gathered together to discuss issues, hold meetings and to enjoy themselves. We can almost be certain that games such as chess or dice were played to while away the long winter hours of the northlands. This rune poem holds within it a social commentary giving us a glimpse of daily life in the time of our ancestors. It tells us that people, mostly warriors would play games enjoying themselves but it also gives us commentary on another social behavior and that being boasting. Boasting in Germanic society was a very important function. Warriors would boast to their peers and/or the gods about accomplishments and deeds that they had done. This was something that was always done in the beer-hall and their reputation to their peers depended on these boasts. But as with any social situation one might offend somebody and a quarrel might erupt out of such boasting contests between rivals. This is where chance comes into play. Just like one might lose at a game one might lose his or her life on offending someone because of a boast.
Peorth has a blatant connection to warriors. Chess and dice are both games of chance and are just like when the Anglo-Saxons would go out into battle because it was always a chance whether or not one might return from the battle. One might survive becoming a hero or one might get wounded and die. Nothing in warfare was for certain and the same applies in our times as well as in ancient ones.
The warriors shall lead counsel And rest together, never hindered by speech, Never in death separated. He will sit around twice as long playing dice, Meanwhile his grief glides away, together forgetting their spears, Have the men on board; idle hands are serious to the dice-men, Then the die is thrown.
This passage is interesting in that it brings the importance of the warriors' togetherness with the act of playing dice. It seems that Peorth keeps this social behavior together and hints that the act of chance applies to life as well as games. We can take this to mean all facets in human life and all life on earth. The Peorth rune further backs the other runes in that there is a risk involved in everything we do from work to play time. So Peorth is chance, especially those chances we get in life. It tells us to seize them when the come our way because we are rarely given second chances in life. Peorth also tells us to live our lives to the fullest and to enjoy our family and friends because tomorrow they might not be there.
On a more esoteric and mythological level the rune poem is alluding to something more. When we look at this rune poem it seems to almost be describing a Valhalla like hall. The Norse Eddas give us a brilliant description of this amazing hall. It is one of Odins halls and it is where all of the warriors who have died in battle go. It is in this hall that they wait until the end of the worlds to fight against the sons of Surt who will bring about total destruction. It is interesting to note that in Snorri Sturlusons Prose Edda Chapter 2 that he gives a vivid account of Valhalla. He states that there was a great room where warriors were playing games, drinking and some were fighting.