Quote:
Originally Posted by borg23
You're the man limon!
I'm sure we share similar views on most of these grifters in general on social media pretending to be poker pros.
It's astonishing not just at the markup people who aren't even good will sell for in the main, but even in in other events i've seen 1.3-1.5 from tons of players which is a joke.
Anyone worth 1.5 in some 2500 isn't selling for a 2500.
The 1.5 markup is still fine and totally reasonable over the long run . There are tons of players who can reasonably charge 1.5x markup and even more. The bet itself, however is a suckers bet. The vast majority of the time your 100 picks won't cash for more than $1.5MM in a single year and you lose the bet. And when one of them does hit it big you only double your money.
Let's look at an example:
Let's say you bet $1,000 and pick 100 players to cash for over $1.5 million. Over the first 9 years your players only cash for $1.2 million each year. But in the 10th year one of your players binks it big and combined your horses cash for $6 million.
Well in this scenario you lose the first 9 bets and are down $9,000. You win the last one but ultimately its only good for $1,000 and you wind up down $8,000.
However, if we were simply staking the players each year we would be up very big overall. The first 9 years we lost $300,000 or $2,700,000 total, but the final year we profited $4,500,000. For a combined total profit over the 10 years of $1,800,000.