Erick Lindgren Owes Over $100,000 for Fantasy League, Won't Pay
03-09-2012
, 11:48 PM
03-10-2012
, 12:12 AM
03-10-2012
, 12:51 AM
I think Daniel said they were playing at shooting stars. So it cant be Johnny world or Kirk Morrisson. I think its time Danile just confirmed it for us all its Layne Flack. Isnt Layne high on coke every day and i doubt Flack even knows what 2+2 so you are save Danny to tell us
03-10-2012
, 01:43 AM
yeah, this. i'll end my derail by asking what another 2+2er brought up (which i think is relevant):
Quote:
I believe what Mason said a while back that the inability of most professional poker players to succeed is tied to a lack of understanding of the underlying mathematics of the game. The best players are drawn to the biggest games, and I suspect that, at the highest levels, the very best poker players do not have much of an edge over players who are just "good."
A winning player needs to not only maintain an edge over his opponents, but also a big enough of an edge to make a living after paying rake to the casinos and taxes to the government.
Perhaps most importantly, a winning player cannot succeed unless he understands his risk of ruin and selects his games accordingly. It would be very interesting to have someone like Mason weigh in on exactly how big of a bankroll a "good" or even "great" player must have to play in a series of $10K buyin events with 600 or so players, such as the WPT Shooting Stars event, with say only a 1%, 5%, or 10% risk of ruin. Without doing the required math or analysis, I would guess that such a player would need a minimum of 100 buyins (that is, $1 million) just to reduce his risk of ruin to around 10%.
In other words, imagine that a great player has a $1 million bankroll and an opportunity to play in 365 $10K buy-in events in a year. I would guess that there is a 10% chance or so that that player will lose his entire bankroll that year. That's probably the underlying math.
I would also love to have Mason discuss the return on investment for such a player. Let's say this great player doesn't lose his entire bankroll, which would probably be the case around 90% of the time. How much will that player actually make in net profits (e.g., after rake, taxes, travel expenses, buyins lost, and so on)?
If this hypothetical great player has a 10% ROI, he would need to play in a lot of $10K buy-in events just to make a decent income. Also, there would probably be many years in which he would be in the hole for the year.
Understanding the math of the game is key, and it looks like all but maybe the very best-of-the-best understand that. The rest either have failed or will fail.
RC
A winning player needs to not only maintain an edge over his opponents, but also a big enough of an edge to make a living after paying rake to the casinos and taxes to the government.
Perhaps most importantly, a winning player cannot succeed unless he understands his risk of ruin and selects his games accordingly. It would be very interesting to have someone like Mason weigh in on exactly how big of a bankroll a "good" or even "great" player must have to play in a series of $10K buyin events with 600 or so players, such as the WPT Shooting Stars event, with say only a 1%, 5%, or 10% risk of ruin. Without doing the required math or analysis, I would guess that such a player would need a minimum of 100 buyins (that is, $1 million) just to reduce his risk of ruin to around 10%.
In other words, imagine that a great player has a $1 million bankroll and an opportunity to play in 365 $10K buy-in events in a year. I would guess that there is a 10% chance or so that that player will lose his entire bankroll that year. That's probably the underlying math.
I would also love to have Mason discuss the return on investment for such a player. Let's say this great player doesn't lose his entire bankroll, which would probably be the case around 90% of the time. How much will that player actually make in net profits (e.g., after rake, taxes, travel expenses, buyins lost, and so on)?
If this hypothetical great player has a 10% ROI, he would need to play in a lot of $10K buy-in events just to make a decent income. Also, there would probably be many years in which he would be in the hole for the year.
Understanding the math of the game is key, and it looks like all but maybe the very best-of-the-best understand that. The rest either have failed or will fail.
RC
03-10-2012
, 03:39 AM
Layne Flack took a private jet back to Las Vegas with Daniel from SJ, he posted a photo on Facebook. Would Daniel really be hanging out with a guy that owes him 500k and can't ever pay him back?
03-10-2012
, 04:08 AM
03-10-2012
, 04:13 AM
03-10-2012
, 04:15 AM
03-10-2012
, 05:57 AM
03-10-2012
, 09:34 AM
Honest Q: Why does anyone hang around with this guy?