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Official InsuredPlay Thread Official InsuredPlay Thread

11-12-2012 , 07:54 AM
Hi,

We'll be answering your questions on this thread from now on. You can find an answer to most questions on our FAQ page: http://www.insuredplay.com/supports/faq

What we do - All-in equity insurance

Itís been discussed here and there in depth. But Iíll summarize what our product does.

All-in equity insurance allows you to guarantee to win your equity in the pot whenever you go all-in before the river. For example:

  • KK is all-in on the flop with 80% equity in the $100 pot
  • AQ calls and KK gets automatically insured for $20
  • Ace drops on the river and KK loses the hand
  • KK gets $100 in his account on InsuredPlay
Regardless of the result of the hand, you always win your equity in the pot when you're using InsuredPlay.

How it works
Thatís it! Your hands will be automatically insured when you start playing poker.

No deposit required
Until you make your first deposit, your hands will be insured with play money as if you have funds on InsuredPlay. Once you make a deposit, your hands will be insured with real money.

Why use InsuredPlay?
Reduce variance: On average 25%, of your variance will come from all-in situations. Depending on your playing style, it can go up to 50%. Read more here: http://blog.insuredplay.com/?p=211

Gain a mental edge: More or less, everyone tilts. Insurance will help you worry less about bad beats. The downswing mentality which is due to variance will also affect your game play. Insurance will help you minimise these effects and allow you to stay at your A game.

Play at higher stakes: Reduced variance means you can manage your bankroll more aggressively and play at higher stakes. At higher stakes you can gain more player points, pay less rake and make more money.

Let us know if you have any questions.
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11-12-2012 , 01:49 PM
about time
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11-12-2012 , 02:14 PM
insurance against coolers not possible?
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11-12-2012 , 02:29 PM
pretty sick
Official InsuredPlay Thread Quote
11-13-2012 , 03:46 AM
Quote:
Originally Posted by Nice Guy
insurance against coolers not possible?
It is possible. But we're not planning to offer it as a product in the near future.
Official InsuredPlay Thread Quote
11-13-2012 , 06:24 AM
similar things have been tried before, without much success.
Official InsuredPlay Thread Quote
11-13-2012 , 07:39 AM
Quote:
Originally Posted by Emre Kenci
It is possible. But we're not planning to offer it as a product in the near future.
awesome. looking forward to try gor software!
Official InsuredPlay Thread Quote
11-13-2012 , 07:42 AM
Quote:
Originally Posted by Herr Flick
similar things have been tried before, without much success.
like what?
Official InsuredPlay Thread Quote
11-13-2012 , 07:57 AM
i like their product very much but it's very hard to trust them after what happened within the first cple of hands being tracked:

http://forumserver.twoplustwo.com/28...y-com-1265609/
Official InsuredPlay Thread Quote
11-13-2012 , 08:26 AM
Quote:
Originally Posted by ShortStackingSteve
like what?
like NoBadBeat poker :
http://forumserver.twoplustwo.com/28...-bonus-958231/
Official InsuredPlay Thread Quote
11-13-2012 , 08:26 AM
Quote:
Originally Posted by Herr Flick
similar things have been tried before, without much success.
Nope, there was never a site you could buy the service that we're providing.

A lot of people/groups attempted to create a site such as ours but failed. Perhaps that is what you're talking about.
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11-13-2012 , 08:38 AM
assuming they handle Matt's situation correctly, this is a cool idea...but it might be hard for some folks to come up with the funding...if they could come up with it, they wouldn't need the insurance...I guess when you win a big pot you weren't supposed to, that's the time you need to cash out and ship it to the insurance guys so that when you're on the other end of that beat you don't lose equity.
Official InsuredPlay Thread Quote
11-13-2012 , 08:40 AM
Quote:
Originally Posted by Herr Flick
Is that all you have? Because it was significantly different, and the site's success or failure would have had a lot more factors at play than just the no bad beats component.
Official InsuredPlay Thread Quote
11-13-2012 , 09:30 AM
Quote:
Originally Posted by starrazz
assuming they handle Matt's situation correctly, this is a cool idea...but it might be hard for some folks to come up with the funding...if they could come up with it, they wouldn't need the insurance...I guess when you win a big pot you weren't supposed to, that's the time you need to cash out and ship it to the insurance guys so that when you're on the other end of that beat you don't lose equity.
That was a poker site with equity chop feature I think. We do not offer the game itself. We're offering the service to players who play on major poker sites:
  • PokerStars
  • Full Tilt Poker
  • iPoker
  • Party Poker & WPT Poker
Official InsuredPlay Thread Quote
11-13-2012 , 09:48 AM
Quote:
Originally Posted by Bobo Fett
Is that all you have? Because it was significantly different, and the site's success or failure would have had a lot more factors at play than just the no bad beats component.
I read the the FAQ a bit more carefully, and I must admit it is significantly different.

I retract my comments.

Last edited by Herr Flick; 11-13-2012 at 09:54 AM.
Official InsuredPlay Thread Quote
11-13-2012 , 09:52 AM
Quote:
Originally Posted by Herr Flick
For sure the failure of NBB can be attributed to poor or lacking marketing.

But I think the idea was similar even if the implementation was different.

The basic unproven premise is that there is a great number of players that think that variance is making poker a worse game, and in particular that variance is the reason they are not personally successful. A gimmick like this will soon reveal 2 things: these players will soon be disillusioned because they will continue to have problems and these games will turn out not to be popular enough.

On the other hand if the site manages to promote this idea successfully then that is great!
Again, we are not a poker site. We're not offering the game itself.
Official InsuredPlay Thread Quote
11-13-2012 , 10:01 AM
used this now for more that 2 month, with the result :

pros :
+ fast replys from support, eg. connection problems u.a.
+ fast withdraw of money for 90% of the time (no longer as 12h, mostly much faster )
+ sup User portal where u can see all ur session with the Hands which get insured with the odds etc.

something would be fine if it comes soon:
+ live ticker for Tournament Bubble Protection if u insure a Tourny, that u dont need to manual calculate how big the new bubble is.
+ cancel "cashout request" that a pending.
+ Omaha Hi /low
+ last but no least , how and if insure work on "run It Twice" ?

finaly a great execution of the idea
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11-13-2012 , 11:25 AM
Paying those fees would tilt me more than any downswing could.
Official InsuredPlay Thread Quote
11-13-2012 , 11:36 AM
Quote:
Originally Posted by HPCeta
a great execution of the idea
Thank you.

Quote:
Originally Posted by HPCeta
cancel "cashout request" that a pending.
This will be done soon.
Quote:
Originally Posted by HPCeta
last but no least , how and if insure work on "run It Twice" ?
We do not support RIT hands.

Quote:
Originally Posted by HPCeta
live ticker for Tournament Bubble Protection if u insure a Tourny, that u dont need to manual calculate how big the new bubble is.
This is pretty difficult to do but we're looking into it.
Official InsuredPlay Thread Quote
11-13-2012 , 12:58 PM
These guys take advantage of people tired to run bad and use that opportunity to take even more $ from them. They also take advantage of ignorant players by offering them a seemingly attractive price when it's actually a very high fee.

If you're actually willing to pay to increase your mental game which is fine i guess, why dont you hire a mental coach that will cost you way less on the long term and will REALLY make you improve/cure your mental game forever

Edges are small in poker, don't give some of 'em to a shady company. Bad luck will pass, it always do.
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11-13-2012 , 01:01 PM
I'm actually kinda impressed/shocked that 2+2 allow this thing to have their official thread along with green rep and all.
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11-13-2012 , 03:11 PM
So to how many bb/100 would this generally translates to at 2/4 for example?
Official InsuredPlay Thread Quote
11-13-2012 , 03:26 PM
Quote:
Originally Posted by Bullitos
So to how many bb/100 would this generally translates to at 2/4 for example?
Approx 1.35bb/100 for the casual player- $55 for a quick 1,000 hand session!

For a higher volume player it comes down to 0.225 bb/100 which is still very, very expensive: A 100NL break-even FR grinder playing enough hands to earn $4k profit (rakeback) a month would have to pay approx $500 for the service!

It's not hard to see that it wouldn't take long for the fees to surpass any possible EV downswing.
Official InsuredPlay Thread Quote
11-13-2012 , 04:57 PM
Insurance is always a "bad" deal from an EV perspective - that's why insurers exist. But that doesn't mean it's not a good idea for people to buy it. There are plenty of types of insurance that are negative EV, or expensive, but are wise life investments. Assuming this site is honest, I think this is a cool idea. Not for me, personally, but it's a legitimate business idea that could be a value-add for a lot of people.

Edit: Matt - I didn't get a chance to read your thread. My post was made with the giant assumption that this is an honest insurer that pays out "claims" as appropriate. It's not an endorsement of this company, but rather the idea.
Official InsuredPlay Thread Quote
11-13-2012 , 07:25 PM
Quote:
Originally Posted by MeleaB
Approx 1.35bb/100 for the casual player- $55 for a quick 1,000 hand session!

For a higher volume player it comes down to 0.225 bb/100 which is still very, very expensive: A 100NL break-even FR grinder playing enough hands to earn $4k profit (rakeback) a month would have to pay approx $500 for the service!

It's not hard to see that it wouldn't take long for the fees to surpass any possible EV downswing.
On average, an insured hand is about 150 big blinds. So insurance will cost 0.25/100 x 150 = 0.375 big blinds per insured hand.

Assuming 1 out of 100 hands will be insured -that is the average on our site atm.

You would pay 0.375bb per 100 hands. So for a NL100 player to pay $500 in fees per month, he has to play 500/0.375 = 1333 insured hands or 133.000 hands per month. 133K hands per month is a lot.

Assuming the player does put in that much volume, he would insure almost $200K worth of pots for $500. Which we believe is a fair price for the service.
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