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Originally Posted by RealMcCoy
Would love to see where you come up with the thought of Jonathan Little being a losing tournament player. It is basically impossible to actually know the outflow for anyone other than yourself in Tournament buy ins. The wins are public for semi serious events but you can pile up a lot of local $2,000 to $5,000 wins that never see the light of day (OR the cost of buy ins). Personally I had a TERRIBLE WSOP last year but broke even in all tournaments for the year but you'll never know it from my Hendon mob results
You are basically accurate on "Millionaires" as defined by net worth it's +8.% of the population or # estimated (obviously they vary) between 22 to 24 million Americans but a lot of that sits in Real Estate. As to "idle rich" ? I clearly need to move to your neck of the woods.
I've never seen anything first hand on Little, I just know him because he's mocked constantly both by professionals I know irl and by people on 2p2 who often say his book is trash. Mason even has two entire threads trying to make sense of the nonsense in his last book and people are just in there posting that it's from Little, hence why it doesn't make sense. Garbage in garbage out.
He very clearly makes his living from selling coaching and courses. He may or may not have been a winning player back in the day, but there's no chance he is a winning play now. It's also incredibly common for -EV players to continue playing to maintain their brand. Such as with Negreneneau who needs to play as a spokesperson (he's actually awesome because each year he makes a detailed post about "I cashed 2.3 million but lost money because I had over 4 million in buyins" like that. Daniel needs to play tournies to keep himself in the spotlight to keep earning that sponsorship money. Little much of the same to keep himself relevant and able to sell his services.
It's also incredibly common in the DFS world. You have all these guys who genuinely were profitable back in like 2006 but now the scene is so competitive and advanced that they are now losing players but they continue to grind it out because they need that clout for marketing. If their business nets them 290k a year then they can writeoff -80k in losses as a marketing expense because every so often while losing that 90k they'll have a few nice wins to post as screenshots as proof they got it. Best part is you can track these guys too and literally see these people doing victory laps on Twitter for 20k win are actually down 120k entering that nightly 1k contest trying to finally bink it.
However, like I said, I don't know first hand and only said
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would not be surprised at all if tiffany michelle and jonathan little are as well
as for kessler, everyone knows this about him
he has just north of 4 million in total cashes for his entire 20 year career
assuming he was crushing it at a 20% ROI then that's just 40k a year
but it's not profit, he 100% has spent more than that on buyins
here's an article on him from 2010
https://www.cardplayer.com/poker-new...-allen-kessler
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Long-time poker pro Allen Kessler never had the respect of his peers — but that all seemed to change after the 2010 World Series of Poker.
Kessler, who began competing in the summer series about a decade ago, has consistently been a losing player at the WSOP.
Literally says he's been a losing player for a decade - at a time when poker was in its absolute heyday and was the easiest it ever was
has one good WSOP and suddenly
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“A lot of people don’t respect my game,” Kessler said. “They say I play too tight, and if I am in a hand in no-limit hold’em I have kings or aces. This summer has gave me a lot of respect from my peers. People criticize me all the time, and this year everywhere I go now it’s different. I was just in London, thousands of miles from home, and complete strangers would walk up to me and say congratulations. After all these years of playing I’m starting to get recognition. It feels good.”
but they still remind you that he lost 200k the year before
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The success this past summer was especially crucial for Kessler after a disastrous 2009 campaign. Kessler didn’t cash in a single WSOP event in 2009 out of the roughly 20 he entered — resulting in a loss of more than $200,000 from buy-ins. Fellow players were wondering how he could keep playing, Kessler said.
How does he do it though?
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Kessler’s older sister, who owns numerous businesses and is a multimillionaire, provided a flexible work situation that allowed for extended poker trips. It wasn’t long after Kessler started working out of his sister’s house that he made his first trip to Las Vegas for a poker tournament.
like i said, even if the idle rich is just 0.1% of the population, that's hundreds of thousands of people and many choose poker
people need meaning in life, if every day you sit down on a picturesque beach with a cocktail in hand then it's no longer special
they also don't want to have something that's not embarassing when they asked what they do
so they buy a minor league hockey team, open an antique shop, become an angel investor, open a baseball memorabilia shop, or travel and play poker tournaments
if you go certain schools or live in certain areas, you'll bump into these people all the time