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Old 06-23-2018, 07:08 PM   #2526
Tuma
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Re: Phil Galfond to Start a Poker Site

will there be high stakes??
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Old 06-23-2018, 07:29 PM   #2527
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Re: Phil Galfond to Start a Poker Site

Not in the first release of the site. Phil said games are only going up to 10/20 with the initial launch and then there will be an update where other stakes (and features) will be added.
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Old 06-23-2018, 09:11 PM   #2528
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Re: Phil Galfond to Start a Poker Site

do you know if there will be draw and stud games?
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Old 06-23-2018, 09:32 PM   #2529
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Re: Phil Galfond to Start a Poker Site

I feel bad for Phil for pursuing this idea.

Its clear he means well but hes just burning so much money

Poker online has been declining since around 2011.

Every site on the internet now is just 50 People sat waiting for fish heads up (and he wont get fish because he doesn't have a multi million dollar marketing budget across every country in the world)

If they aren't waiting for fish HU then its simply a pool of 10-20 PIOsolver bottish players waiting to jump into games where a rec sits. (again he wont get recs because he doesn't have a multi million dollar marketing budget across every country in the world)

The only times games run is if fish sit. Very rarely on pokerstars games run when some upcoming reg is fighting to open sit the next stake up. That's because there is value there though to beat all the seat scripters to a seat because fish actually occasionally sit. On run it once this will not happen.

If all that wasn't bad enough there is the fact that poker is gradually being solved. In a few years its likely no one will be able to beat each other because AI solved the game to a level where winrates of like 2bb don't exist between people following the charts etc

This would have been cool in like 2007 but its like 11 years too late.

The general public lost interest in poker when they realized they cant win. There is already BTC sites where the whole world can play for low rake and the exact same thing happens. (no one plays unless fish sit)

IN poker terms - Drawing Dead would be an adequate way to describe this venture.
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Old 06-24-2018, 12:44 AM   #2530
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Tetrofud View Post
I feel bad for Phil for pursuing this idea.

Its clear he means well but hes just burning so much money

Poker online has been declining since around 2011.

Every site on the internet now is just 50 People sat waiting for fish heads up (and he wont get fish because he doesn't have a multi million dollar marketing budget across every country in the world)

If they aren't waiting for fish HU then its simply a pool of 10-20 PIOsolver bottish players waiting to jump into games where a rec sits. (again he wont get recs because he doesn't have a multi million dollar marketing budget across every country in the world)

The only times games run is if fish sit. Very rarely on pokerstars games run when some upcoming reg is fighting to open sit the next stake up. That's because there is value there though to beat all the seat scripters to a seat because fish actually occasionally sit. On run it once this will not happen.

If all that wasn't bad enough there is the fact that poker is gradually being solved. In a few years its likely no one will be able to beat each other because AI solved the game to a level where winrates of like 2bb don't exist between people following the charts etc

This would have been cool in like 2007 but its like 11 years too late.

The general public lost interest in poker when they realized they cant win. There is already BTC sites where the whole world can play for low rake and the exact same thing happens. (no one plays unless fish sit)

IN poker terms - Drawing Dead would be an adequate way to describe this venture.
Poker isnt dead, try playing on global
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Old 06-24-2018, 09:33 PM   #2531
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Tetrofud View Post
I feel bad for Phil for pursuing this idea.

Its clear he means well but hes just burning so much money

Poker online has been declining since around 2011.

Every site on the internet now is just 50 People sat waiting for fish heads up (and he wont get fish because he doesn't have a multi million dollar marketing budget across every country in the world)

If they aren't waiting for fish HU then its simply a pool of 10-20 PIOsolver bottish players waiting to jump into games where a rec sits. (again he wont get recs because he doesn't have a multi million dollar marketing budget across every country in the world)

The only times games run is if fish sit. Very rarely on pokerstars games run when some upcoming reg is fighting to open sit the next stake up. That's because there is value there though to beat all the seat scripters to a seat because fish actually occasionally sit. On run it once this will not happen.

If all that wasn't bad enough there is the fact that poker is gradually being solved. In a few years its likely no one will be able to beat each other because AI solved the game to a level where winrates of like 2bb don't exist between people following the charts etc

This would have been cool in like 2007 but its like 11 years too late.

The general public lost interest in poker when they realized they cant win. There is already BTC sites where the whole world can play for low rake and the exact same thing happens. (no one plays unless fish sit)

IN poker terms - Drawing Dead would be an adequate way to describe this venture.

Poker might be dead someday, but that time is not yet here. Chess has been solved but schools still have chess clubs, and people still play chess tournaments. It is not hard to be a winning poker player if you're serious about the game and do things the right way. Here is what I did:

I played poker for about 30 years and for a long time I wasn't making any money at it. I gradually got more serious about the game and when I retired from the army I got more serious about my play. I decided to make poker my job starting January 1, 2017.

I didn't have to make any money right away, because my wife had a good job and I get social security and military retirement pay. I had been playing mostly live but I decided that the best approach was to grind online.

I had about $40 sitting on Juicy Stakes Poker. I decided to do things the right way and grind it up without making a deposit. I only play tournaments and SNGs don't run on that site, so I had to do it playing MTTs.

I played $1 tournaments and I did not move up I had a $220 bankroll, which allowed me to play $2.20 MTTs. Variance being what it is, I had three losing months, but by the end of 2017 I had played about 450 MTTs and my bankroll was $480.

I haven't changed anything from the way I started in 2017. I'm still building that bankroll, which is now about $900. I will soon make my first withdrawal and start a bankroll on another site, because I want multiple options for where and when I can play. Once I have things going well on two sites, I'll start building a bankroll for live tournaments.

I work at least 40 hours a week, with at least 10 of those hours devoted to study. I've already built $40 up to $900 in 1.5 years. It will fun to see what I can do with my $900 in the next couple years. It shouldn't take long before I'm pulling in five figures per year. After that? Well, Doyle won a WSOP bracelet at age 76. Just sayin'.

If poker is dead, I didn't get the memo.
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Old 06-25-2018, 07:32 AM   #2532
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by Sir Huntington View Post
Wait, you guys still think this is coming out?
GFY
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Old 06-25-2018, 08:20 AM   #2533
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by preki View Post
Poker isnt dead, try playing on global
Global is banned in certain country's

Most EU players are limited to Stars & Partypoker (or BWIN)


Poker is dead? Players are still playing, but back in the day u could turn a 100$ into 2k in a month(with BRM).

There was hardly any rake, and very good bonuses
Nobody had to pay taxes on profits and most players were playing for fun.
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Old 06-25-2018, 03:38 PM   #2534
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Re: Phil Galfond to Start a Poker Site

Online poker died on Black Friday
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Old 06-27-2018, 04:23 PM   #2535
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by nasty_pipe View Post
Online poker died on Black Friday
But you are still here. A guy who registered here in 2011, when black friday struck, and got 18 posts to his account.
You came back to this forum just to check the news on this new site that's coming up.
If you are on edge for it. Maybe others from back then are as well?
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Old 06-28-2018, 04:09 AM   #2536
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Re: Phil Galfond to Start a Poker Site

Its not about poker being dead its about getting enough liquidity on the site quickly. I just dont see so much extra money waiting to be deposited on a new site. Apart from regs you need recreationals. I am just not sure that you can convince a lot of recs to cash out and deposit on a fresh site. And if the plan is really to start with cg only the first fresh money by non-regs might be gone quicker than the influx of new money can replace that. Economies and wages arent really thriving these days that I would be confident enough that there is a lot of spending money left to sustain a new site which is probably more hyped around regs than anybody else.

We will see. Even if you think that Phil's site might be best in the longterm how many regs will help growing a site when it could mean lower profits or even losses due to playing mainly against regs in beginning. The past has shown that too many poker players are only interested in their shortterm gains.
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Old 06-28-2018, 04:58 AM   #2537
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by Habsfan09 View Post
I am just not sure that you can convince a lot of recs to cash out and deposit on a fresh site.
I think this won't be an issue. Recs dont really have money on sites. They are depositing pretty much every time they want to play. If the product is attractive enough people will come. The features RIO will have might seem special enough and raise some interest from recs imo.

I agree with all your other points though. It won't be easy by any means.
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Old 06-28-2018, 06:07 AM   #2538
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Tetrofud View Post
I feel bad for Phil for pursuing this idea.

Its clear he means well but hes just burning so much money

Poker online has been declining since around 2011.

Every site on the internet now is just 50 People sat waiting for fish heads up (and he wont get fish because he doesn't have a multi million dollar marketing budget across every country in the world)

If they aren't waiting for fish HU then its simply a pool of 10-20 PIOsolver bottish players waiting to jump into games where a rec sits. (again he wont get recs because he doesn't have a multi million dollar marketing budget across every country in the world)

The only times games run is if fish sit. Very rarely on pokerstars games run when some upcoming reg is fighting to open sit the next stake up. That's because there is value there though to beat all the seat scripters to a seat because fish actually occasionally sit. On run it once this will not happen.

If all that wasn't bad enough there is the fact that poker is gradually being solved. In a few years its likely no one will be able to beat each other because AI solved the game to a level where winrates of like 2bb don't exist between people following the charts etc

This would have been cool in like 2007 but its like 11 years too late.

The general public lost interest in poker when they realized they cant win. There is already BTC sites where the whole world can play for low rake and the exact same thing happens. (no one plays unless fish sit)

IN poker terms - Drawing Dead would be an adequate way to describe this venture.
It's certainly tough, but existing big sites have hardly innovated and lag quite far behind where they could/should be. Pokerstars looks and feels pretty much the same as it did in 2011 and still has the best software. All the new things they invented are pretty much crap except for spin & go's as far as I can tell. The BTC site argument is a bit flawed, as much as I love crypto, it's a very minor subset of people that actually owns any and it causes an extra barrier of entry. There's definitely some kind of possibility to succeed here, though it won't be easy at all.
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Old 06-28-2018, 09:34 AM   #2539
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by Habsfan09 View Post
We will see. Even if you think that Phil's site might be best in the longterm how many regs will help growing a site when it could mean lower profits or even losses due to playing mainly against regs in beginning. The past has shown that too many poker players are only interested in their shortterm gains.
+1
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Old 06-28-2018, 03:59 PM   #2540
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Poker Clif View Post
Poker might be dead someday, but that time is not yet here. Chess has been solved but schools still have chess clubs, and people still play chess tournaments. It is not hard to be a winning poker player if you're serious about the game and do things the right way. Here is what I did:

I played poker for about 30 years and for a long time I wasn't making any money at it. I gradually got more serious about the game and when I retired from the army I got more serious about my play. I decided to make poker my job starting January 1, 2017.

I didn't have to make any money right away, because my wife had a good job and I get social security and military retirement pay. I had been playing mostly live but I decided that the best approach was to grind online.

I had about $40 sitting on Juicy Stakes Poker. I decided to do things the right way and grind it up without making a deposit. I only play tournaments and SNGs don't run on that site, so I had to do it playing MTTs.

I played $1 tournaments and I did not move up I had a $220 bankroll, which allowed me to play $2.20 MTTs. Variance being what it is, I had three losing months, but by the end of 2017 I had played about 450 MTTs and my bankroll was $480.

I haven't changed anything from the way I started in 2017. I'm still building that bankroll, which is now about $900. I will soon make my first withdrawal and start a bankroll on another site, because I want multiple options for where and when I can play. Once I have things going well on two sites, I'll start building a bankroll for live tournaments.

I work at least 40 hours a week, with at least 10 of those hours devoted to study. I've already built $40 up to $900 in 1.5 years. It will fun to see what I can do with my $900 in the next couple years. It shouldn't take long before I'm pulling in five figures per year. After that? Well, Doyle won a WSOP bracelet at age 76. Just sayin'.

If poker is dead, I didn't get the memo.
Chess is not solved and it won't be for the foreseeable future.
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Old 06-28-2018, 04:22 PM   #2541
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Poker Clif View Post
Poker might be dead someday, but that time is not yet here. Chess has been solved but schools still have chess clubs, and people still play chess tournaments. It is not hard to be a winning poker player if you're serious about the game and do things the right way. Here is what I did:

I played poker for about 30 years and for a long time I wasn't making any money at it. I gradually got more serious about the game and when I retired from the army I got more serious about my play. I decided to make poker my job starting January 1, 2017.

I didn't have to make any money right away, because my wife had a good job and I get social security and military retirement pay. I had been playing mostly live but I decided that the best approach was to grind online.

I had about $40 sitting on Juicy Stakes Poker. I decided to do things the right way and grind it up without making a deposit. I only play tournaments and SNGs don't run on that site, so I had to do it playing MTTs.

I played $1 tournaments and I did not move up I had a $220 bankroll, which allowed me to play $2.20 MTTs. Variance being what it is, I had three losing months, but by the end of 2017 I had played about 450 MTTs and my bankroll was $480.

I haven't changed anything from the way I started in 2017. I'm still building that bankroll, which is now about $900. I will soon make my first withdrawal and start a bankroll on another site, because I want multiple options for where and when I can play. Once I have things going well on two sites, I'll start building a bankroll for live tournaments.

I work at least 40 hours a week, with at least 10 of those hours devoted to study. I've already built $40 up to $900 in 1.5 years. It will fun to see what I can do with my $900 in the next couple years. It shouldn't take long before I'm pulling in five figures per year. After that? Well, Doyle won a WSOP bracelet at age 76. Just sayin'.

If poker is dead, I didn't get the memo.
You're making $0.29 an hour.
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Old 06-28-2018, 07:25 PM   #2542
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by preki View Post
Poker isnt dead, try playing on global
good idea to get the word out to everyone, thanks for that
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Old 06-30-2018, 05:06 AM   #2543
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by 12bigworm81 View Post
You're making $0.29 an hour.
If you say so. I didn't run those numbers. I'm not trying to get rich quick. We have a retirement fund and we don't have a mortgage.

What I'm doing is the equivalent of someone starting a business in his garage, but there were other ideas behind this as well.

I'm not a short-term guy. I'm thinking about what this can be in five years while I have invested almost nothing more than some of the money that I win. Never playing a tournament without 100 buy-ins in my bankroll was good practice and discipline for the future.

Also, grinding over a thousand MTTs has been a great way to practice the things that I'm studying. When I'm working on continuation betting and I can see the results over 50 tournaments in a short period of time it's great to get feedback like that.

There is a method to my madness.

Last edited by Poker Clif; 06-30-2018 at 05:08 AM. Reason: grammar fix, no significant content change
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Old 07-01-2018, 06:01 PM   #2544
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Re: Phil Galfond to Start a Poker Site

Will there be casino games?
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Old 07-01-2018, 09:00 PM   #2545
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by Poker Clif View Post
If you say so. I didn't run those numbers. I'm not trying to get rich quick. We have a retirement fund and we don't have a mortgage.

What I'm doing is the equivalent of someone starting a business in his garage, but there were other ideas behind this as well.

I'm not a short-term guy. I'm thinking about what this can be in five years while I have invested almost nothing more than some of the money that I win. Never playing a tournament without 100 buy-ins in my bankroll was good practice and discipline for the future.

Also, grinding over a thousand MTTs has been a great way to practice the things that I'm studying. When I'm working on continuation betting and I can see the results over 50 tournaments in a short period of time it's great to get feedback like that.

There is a method to my madness.
There are some blind spots in your thinking above and you are making an assumption that you will retain or improve your ROI while your bankroll builds you up through the stakes, but if you can't retain or improve your ROI it may take you years before you find out, or before you can accept that you can't.

Applying 100 BI BRM as an absolute system applies far more to a player such as a kid playing poker in his mum's basement who would genuinely go broke and have no access to any more funds should they blow their roll. In other words they almost have no choice but to apply 100 BI BRM for fear of losing the potential of a huge future upside.

You are not in that situation so it is slightly crazy for you to do what a kid with no real money or assets is doing in his mum's basement.

Also, those kids have far more time and energy available to them to grind huge volume quickly and more mental capacity to multi table MTTs, so your 5 years might be their 5 months or even 5 weeks to achieve the same moves up to the next buy ins.

You would find out a lot quicker how good you are now, as well as what your future potential is by starting playing at stakes that are more in tune with your net worth plus regular income or pension income etc because you will not go broke doing it that way, your downside might be losing 5% of your savings or something like that, and you can still apply some control of this by moving down the stakes a little during downswings, or by quitting all together if it becomes apparent that you don't have an edge and are not likely to improve enough.

Playing $10 MTTs with a $1000 roll so that you can "build a bankroll", is fairly pointless if $1000 is already only a minuscule fraction of your net worth and if you have an external income.

The volume learning thing at small stakes has some advantages but disadvantages too because your opponents will generally have a higher skill level as you move up the stakes, so what you are effectively doing is spending months or years swimming in a paddling pool 1000 times as practice for swimming in the shallow end of a swimming pool 1000 times and so on and so forth.

Naturally I wish you a long and healthy life but I fear that you may be dead before you reach the ocean.

Last edited by SageDonkey; 07-01-2018 at 09:25 PM.
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Old 07-02-2018, 02:40 PM   #2546
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by nasty_pipe View Post
Will there be casino games?
hell to the no.

Well well, it's july and we still don't have an announcement. It's starting to look fishy again.
I mean he will announce the launch date at least 4 weeks in advance to build up some tension for a "big" start. He wouldn't have such bad marketing and communication that he will just poop out his site, right .... right?!?!??
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Old 07-02-2018, 03:22 PM   #2547
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Re: Phil Galfond to Start a Poker Site

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Originally Posted by RalphWaldoEmerson View Post
good idea to get the word out to everyone, thanks for that
the site has demonstrated quite clearly that there are still tonnnnssss of American fish that want to play poker

and I believe that many will in fact play if it's easy to move money on and off the site, and that that's more important to fish playing than rake or another consideration
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Old 07-02-2018, 03:48 PM   #2548
Fletch F. Fletch
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Poker Clif View Post
If you say so. I didn't run those numbers. I'm not trying to get rich quick. We have a retirement fund and we don't have a mortgage.

What I'm doing is the equivalent of someone starting a business in his garage, but there were other ideas behind this as well.

I'm not a short-term guy. I'm thinking about what this can be in five years while I have invested almost nothing more than some of the money that I win. Never playing a tournament without 100 buy-ins in my bankroll was good practice and discipline for the future.

Also, grinding over a thousand MTTs has been a great way to practice the things that I'm studying. When I'm working on continuation betting and I can see the results over 50 tournaments in a short period of time it's great to get feedback like that.

There is a method to my madness.
Well if you have made $860 over 1.5 years, and you play 40/hrs a week, that is 78 weeks of play *40 hours = 3120 hours. $860/3120=27.6 cents/hr. Maybe you should run the numbers.

I don't think anyone is wishing you ill will, but not sure how you go from that, to expecting to be making "five figures a year" relatively soon.
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Old 07-04-2018, 11:30 AM   #2549
RikaKazak
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by preki View Post
Poker isnt dead, try playing on global
Playing on Global is easy. Cashing out on Global after paypal dropped them for finally realizing what they are (a gambling site) is a NIGHTMARE!

Used to take 2 days for global to cash me out on paypal, it's been 2 weeks now, says my cash out has been "paid" but I still don't have the money in either my global account nor my bank account.
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Old 07-04-2018, 09:02 PM   #2550
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Re: Phil Galfond to Start a Poker Site

Quote:
Originally Posted by Fletch F. Fletch View Post
Well if you have made $860 over 1.5 years, and you play 40/hrs a week, that is 78 weeks of play *40 hours = 3120 hours. $860/3120=27.6 cents/hr. Maybe you should run the numbers.

I don't think anyone is wishing you ill will, but not sure how you go from that, to expecting to be making "five figures a year" relatively soon.
I thought the bigger leap was from those numbers to "Poker might be dead someday, but that time is not yet here." and "It is not hard to be a winning poker player if you're serious about the game and do things the right way."

Because playing/studying 40 hours a week (after decades of casual play) for the hope of maybe making minimum wage down the line somewhere isn't the most enticing offer I've heard.
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