Episode #435 - October 24th, 2016

Live from the Two Plus Two Studios - On this episode of the Pokercast: We get a trip report from the most exclusive tournament of the year, the 1M Euro One Drop. To begin Adam and Terrence shout out to British TV and we get into the news. We kick off the news with Jason Strasser, Jason was formerly a high stakes online pro and he made the transition to the financial world at the right time. He has had success in the numbers game and joins us to talk about being invited to the 1M Euro businessman one drop, playing in Monte Carlo, the transition out of poker, stories and advice from the financial world. Other stories in the news this week include Phil Ivey’s edge sorting case settled in court, a new poker variant “protection poker”, a new Dan Bilzerian prop bet and more. We are then joined by Run It Once coach Chris Kruk to talk about a couple of No Limit hands, and Adam has a couple of hands of his own. We wrap up the show with some mail including a new omaha variant, dealer tipping etiquette and more!

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Great episode! A lot of content and very interesting interview.

Wonderful interview with Jason.

I am a rec player and a rec investor and the intersection within a Venn Diagram of traits and skills sets needed is more than a coincidence.

For those looking at an investing edge, study options. The common thought is that Options are risky..not if you are on the other side of the trade

more?

Really enjoyable interview

Ivey's case is in federal court. Federal judges are appointed by the president, not elected. George W. Bush appointed the judge in this case. Draw from that whatever inferences you like regarding the motivation for his reasoning.

Tbanks Leo, dumb comment by me!

The judge in the Ivey-Borgata case reasoned that, generally speaking, governments (representing society at large) allow gambling establishments to exist in order to provide members of society with gambling opportunities under a restrictive set of circumstances:
- all games in the casino will be conducted fairly
- all games in the casino will have a "reasonably small" house edge
- the house edge for every casino game will be made public
- house profits will be taxed by the government.

Everybody who enters a taxed-and-regulated casino of this type has implicitly agreed with these terms. He is not saying that every person who enters a casino has agreed to lose money.

I am not necessarily saying that I agree 100% with the judge or his ruling, but we should be clear what he said.

Great interview with Jason, I came to post because Adam spite us to do so.

But seriously haha search your question a bit because asking is alpha dead is like asking are you going to exist in 3 years. Hedge fund were destroyed this year and not only small/unefficient ones because the new failure as to be different each time so that people believe it is always a once in a life time occurence when it is not, the twist is just an evolution of the previous one. This time as Jason said the problem is central banks that were put on steroid when Obama and the FED opened the QE flood in 2008.

Anyway I was glad that he answered honestly.

And it was a great show.

Protection Poker is the Future of Poker
- MIKE SEXTON

GREAT interview! You guys did a fantastic job with the questions, "Is alpha dead?" is probably a G.O.A.T. candidate. I had no idea what is was either so I found your reaction hilarious.

I should go listen to the rest of the episode now.

Terrence - it's likely that you had a quick bout of viral gastroenteritis and not "food poisoning" per se, which might explain why you were the only one afflicted.

While i'm in here, check out this recently published scientific article about the effects of cold showers on health and work:

http://journals.plos.org/plosone/art...l.pone.0161749

Adam, you asked all the right questions of Jason. Good job.

His answers, by the way, were spot-on. I'm a day-trader (who used to play online on the side, but no one's ever heard of my name, because I didn't go above $20 SNGs and mainly played PLO8) for a long time and if anyone is transitioning from poker to trading (daytrading or longer term trading) you can't learn it from a book. You can learn the basics from books, but you have to find out what suits your personality, temperament, psychology, etc. and there's no way to know that - and the oddball scenarios - without actually trading.

Part of that would be like reading a TAG poker book if your temperament is better fitted for a LAG. The other part - the one that can't be compared to poker - is what happens when an event that is supposed to happen 1 in a million times is happening NOW? How do you react? And fortunately or unfortunately, those black tails happen a lot more frequently than anyone anticipates.

Anyhow, props to all of you involved in the interview.

If Aria likes Protection Poker they will love my newest invention: Equity Chop Poker. Whenever players are all in we just chop the pot instantly by their equity, promotes pure skill and saves time dealing pesky turn and river cards.

That's been done, hasn't it?

Protection Poker - First, let me agree that this is a foolish and bad idea. But I think there may be a logic behind it - IF the following suppositions are true (which I am not sure how to verify - and I don't know if my gut believes all of them either):

1) The group of players who will "benefit" from this twist (in that they will take the % of the pot by being "ahead" at the time of the all-in) are the "professional" low-limit players who believe poker is waiting for aces and then berating the play of anyone who plays differently.
2) The benefit these players gain from taking a % of the pot will only slow down the rate of their losses
3) Slowing down their losses would increase the total money these players donate in total to the rest of the poker economy by keeping them in the belief they are professionals longer instead of quitting poker entirely.
4) These players provide a significant portion of the profits that the long term winning players eventually make (this is the item I doubt most of all)
5) The profits made by stringing these players along is not offset by their miserable behavior running off casual players (also doubt)

Thoughts?

The idea's been around forever, I can't recall anyone actually doing it though. Would have been easy to implement online so maybe a smaller site did at one point.

Very insightful interview with Jason, an episode I will probably listen to again. I wanted to ask him about horse racing trading.

Pokercast, I know you talked about Kassouf for abit... Do you know what really grinds my gears? When Cliff Josephy said after a player was knocked out of this weeks broadcast. he said "They Should All Be Like Him" What does that exactly mean?!!

I didn't like his attitude everyone is different in life and play differently. We all have different personalities, and how we see the world with experience. I will be laying Cliff Josephy, he is the clown IMO.

The longer show was perfectly timed, thank you.

Is that how you pronounce Giroux in some place, or is this some other name?

Lots of good laughs in this episode. The best one for me probably came from the email that mentioned something along the lines of "Ross' best game is probably PLO", even Ross laughed at that one lol

The hand analysis with Chris was pretty good as well, keep 'em coming!

Ian: 10% standard tournament tip is nuts.

Jason's interview was old school awesome. Listening to the pokercast in Montreal. Canadians are fantastic, based on current sample. Tim Hortons coffee, ftw.

That's how it is in NY underground games. The dealer's are not paid anything from the house, no money or percentage of the prize pool goes to the dealers like was discussed in this episode for casino tournaments.

There is usually a dealer option for extra chips, but that's it.

We're talking about $40-$120 buy-in tournaments. Obviously shipping an event where the prize money is 4 or even 5 figures, yeah then 10% is nuts. But $60 on a $600 win is considered standard here. That $60 gets split between all of the dealer's for the tournament.

Let me put it this way. The other 4 guys who chopped the tournament, even said something to us, "He only left $10?".