too many white Russians and fired chicken

You don't realize how rich some of those Full Tilters thought they were. A lot of the money was probably blown on table games. Although it was a business that should have made big profits, there is some truth to what the prosecutor called it, a Ponzi scheme.

Have you been following the plight of Tom Dwan lately?

Fishes are always going to get caught out.

^^^^
I have and in so doing have heard that Dwan (with probably equally persuasive "evidence"):

1. has never been richer;
2. suffers from extreme paranoia;
3. suffers from derangement; and
4. owes a 7-figure debt to someone not named Jungleman.

Until ChicagoJoey gets him on a podcast, what can anyone believe?

Guess who's back, back again? Gus is back... Tell your friends. The donation train is making its way to Rio for WSOP 2017



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I blame the $20 million in losses on Mark Vos and his buddy who were hitting and running the big cash games on Full Tilt.

There once was a handsome fella named Gus
Who jumped on the red & black FTP poker bus
He didn't listen when warned urindanger
Got his ass wiped by this dangerous stranger
And so he fell down 20 rocks on his ass

Gus was pretty much my first pokerhero. (when he won something back2back i think) EPT+EPT.

Then i grew up realized onlinegrinders were the heroes.

Gus played nosebleed mixed games for fun
Before long his roll came undone
He took such a beating
That he accused them of cheating
And now nosebleeds no longer run

I guess if you're playing 5 and 6 figure pots constantly against players much better than you day in day out it would be harder not to lose millions of dollars

My theory about his massive losses was that he was reimbursed for the losses by Full Tilt, and they used him as a magnet to attract top players, with the rake in those games more than covering his subsidised losses.

By theory you mean - you made up some BS that is sooooo stupid [?]

If you mean he got paid x amount

And so some of his losses were covered by the amount he got paid by FT

That would be less ******ed

x

LOL So a pot is 250k and the rake is $3. Yup Full tilt got that **** covered maannnnnnnnnnnnnnnnnnnn.

Anyone know if Gus comes from a wealthy family ?

Did he build-up his gammon bankroll from scratch ?

Yes, so if Hansen is involved in 6.6M hands that generate $20m rake, that rake covers $20m losses.

isnt that the way full tilt as a whole was working?

What a criminal enterprise FTP was. A marketing ploy to mythologize the abilities of a few charismatic and/or good-looking pros and siphon all (future) rake back to them. A number of those pros were of marginal skill-level and suffered from severe delusions about their long-term viability as pro gamblers and started demanding shares of future rake ( via loans & sponsorship ) and thus the scheme unwound.

Why did nobody figure this at the time ? I certainly did not. I bought into it hook line & sinker loving the "play with the pros" concept.

That is the funny thing, we can now see many of the full tilt pros were playing on borrowed money, with debts that weren't going to be asked to be repaid. So those massive pots were fake.

Then without that site subsidy, their real ability has revealed itself. "According to Card Player’s source, Ivey and Lindgren both owe $4 million to the site, while Benyamine and Flack owe $2 million apiece. Matusow and Greenstein owe less.
Both Benyamine and Flack have been in debt to the site since 2007, according to the source.
Card Player was told that the debts amounting to about $18 million are on the books, and that Groupe Bernard Tapie has known about it for months."

Beautiful

With unlimited cash & time to play big-purse big-entrance-fee tournaments the laws of large numbers tell us there will be some big scores - especially for players with good ability. Those big tourney scores served as continual validation of the "world best" image FTP had created for their pros.

FTP pros undoing might have been venturing into cash-games , sports , etc. If they had stuck to tourneys seems difficult for the debt-loads to get out-of-bounds.

I did join Online Poker back in 2006 and back then, most high stakes players on 2+2 seemed super happy whenever they got the opportunity to play Full Tilt "Pros". Safe to say many/most of them were figured out pretty early.

Aside from Patrik Antonius and Phil Ivey (who somehow randomly won huge amounts on his own site playing a style that nobody else would ever turn into a winning formula), none of them ever got any recognition on here, and rightfully so.

So what are you saying? Patrik Antonius and Phil Ivey cheated?

Sick bump brah

PA - no.

As for Phil Ivey, I somehow remember that even guys who played nosebleeds themselves considered his style absurd and couldn't even fathom how you would win money playing a super high percentage of pots out of position. Post-BF, games built around him and he got absolutely murdered, yet somehow he was a massive, massive winner before that despite putting in little volume.

Some years after that, he got caught in the edge sorting scandal taking casinos for like $10m by doing what some might consider cheating.

I have no clue what really went on and we probably would have heard about it by now if he actually cheated on FTP, but it still looks funny to me.