Quote:
Originally Posted by zoogenhiem
I know I'm going to regret asking this but...why?
I’m going to attempt to answer this
*Disclaimer - My knowledge is based on a small sample size and is limited to the UK, I by no means am claiming my beliefs are true and accurate but merely an expression of my knowledge albeit limited*
In an ideal world, high stakes poker would be dominated by a few professionals and hundreds of million if not billionaires, although this does exist in some respects, for most part the ratio of professional to Million/billionaire is somewhat skewed and hugely disproportionate.
Which goes onto the next part a rising pyramid of liquidity from new small stakes players to the more dominate and winning professionals. Again in reality this is disproportionate and mostly only serves the horizontal members of the pyramid, with smaller stakes players winning and redistributing their new found wealth to the casino rake and maybe a new Hermes bag for their significant others.
Poker tournaments could possibly be a means of liquidity but unless the players are very lucky, the people who usually win poker tournaments are professionals, semi professionals and sometimes heavily backed so the amount they are putting into the high stakes industry is again limited.
So you have high stakes filled with “professionals” (used loosely) and a few well to do individuals.
The professionals are usually passing money around and then back to whichever individual or group of individuals that is backing them, so some of this money again leaves the high stakes scene.
So let’s talk about the well to do individuals, I am in the higher echelon of earners in the UK and also in my profession, I earn close to £14k a month and maybe another £80,000 a year in bonuses.
Could I feasibly sit in a high stakes £25/50 game and be comfortable with losing £10-20k? The answer is no, people may look at my earnings and consider them to be high, you also have to remember I have life and family commitments, I have 3 kids so schooling is a huge part of my monthly outgoings, I have a mortgage, car payments, clothing, holidays and food. So to sit in a 25/50 for me a recreational player would be financial suicide for me
If I played 3 times a month and lost the average of £3k per session and played 10 months a year taking out the months I am not in the UK that’s £90,000 which has eaten into my bonus and £10,000 into my monthly wage.
So a lot of people that play higher stakes and earn similar amounts to me have overstretched themselves and overtime stretched their personal and professional relationships to get more to feed into this habit that now consumes them, for a dream that will possibly allude them for their entire poker career.
From my experience and this is by no means a reflection of the whole professional poker playing industry, professionals value money a lot less then individuals with careers outside of poker, they don’t understand what it is to have a stable income not dictated by play or hours spent in a casino so are un-empathetic towards recreational players.
In comes people like Leon, who by all accounts is an out and out criminal, yes businessmen lose money go bankrupt and then start again. But most do this with ethics, even if their intentions are self serving and self indulgent they still serve society to some degree. Even a company like Primark in the UK who have employed child laborers in the past, still serve under privileged folk of the UK with cheap and fashionable clothing.
But someone like Leon only serves himself by stealing from poker players, he lacks compassion for poker players and this is why he has repeated this again and again and there are plenty of Leons in the industry and the industry will continue to breed these criminals unless something is done about it.
So high stakes poker in the UK is not a cancer but a unapologetic and empathetic industry that breeds criminals and welcomes then back with open arms.
TL;DR ---- Winter is coming and they have a dragon
Last edited by Theseth; 08-22-2017 at 06:32 PM.
Reason: grammar