Cookies on the PokerWorks Website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the PokerWorks website. However, if you would like to, you can change your cookie settings at any time.

Continue using cookies

Poker News | World Series of Poker | WSOP2009 | Poker Personalities

Day 5 Of The WSOP: The Pitfalls Of A Pro

Share this
Despite rumors to the contrary, being a professional poker player is not an easy way to make a living. It seems like a glamorous life, traveling from location to location, wining and dining, and winning exorbitant sums of money. In many ways it is, but there are far more people who fail miserably and find themselves desperate and broke than there are those who live the high life. Not every poker professional has the luxury of having a lucrative sponsorship deal from a internet site or gets the massive publicity and promotional opportunities that a Daniel Negreanu or Phil Hellmuth do. For every Phil Ivey, there are ten plus Eskimo Clarks.

Even the greats are not immune to falling prey to the viciousness of the game. T.J. Cloutier is a prime example. He's been seen wandering around tournaments and has reportedly, according to numerous professionals I've talked to, borrowed money from a large number of players. To his credit, some of the professionals did tell me that after one extremely profitable craps run (which has been a huge reason behind his failures), that he drove around on his scooter with a bag of cash and was paying people off. Still though, when a highly respected world class player like Cloutier is relegated to picking up the crumbs from other professionals, it tells you just a little bit about how hard this game can be.

Look at it from this perspective. Say you get fortunate and cash in a tournament for $500,000. You're set now right? Well, let's not forget the 150K (and I'm being generous here) that you'll have to give to the government. You decide to go to Vegas for the summer and play in every WSOP event. Between travel expenses, lodging, and food/entertainment that's a minimum of 5K. The cost of all the tournaments you want to enter is 100K.

Ever heard of a poker player going on a two month bad run? Rick Fuller was telling me today how he never even made it to the dinner break in nearly 20 events last year.

Say you go through this same type of run and lose the whole 100K. Suddenly, your huge bankroll of half a million is down to 245K. You can see it doesn't take much to go from hero to zero and that's precisely what happens to so many players. The smart players take some of that $500,000 win and invest it, playing with a small portion. There aren't too many smart players though.

Back to the action here at the WSOP. I've noticed a trend lately of players moving all in for ridiculous amounts pre-flop. A prime example of this was the other day in the 40K event when Brian Townsend moved all in for over 20 big blinds from the button. A lot of internet professionals employ this hyper aggressive ploy. Even Isaac Haxton did it at the 40K final table. The problem with this raise is that it's usually with a hand you don't want action with and it's only going to get called by a hand that has you in bad shape. To each their own I guess.

Today at 1 o'clock they announced that there was still six spots left in the 1K donkament. If I would have had a grand on me, I would have run over and signed up for the event. Over 6,000 entered the event, meaning there was six million cash sitting in the Rio cages from these entrants. While the event was getting underway, one of my former poker students had texted me and told me how she had arranged to have lunch with Eric Lynch. This goes to show you what kind of guy Lynch is, because the two had never met, yet he agreed to meet her and talk poker with her.

The Champions Event got underway and while the event seemed a bit cheesy to me, it was pretty neat seeing the former champions all gathered around the table for a group photograph. As they were introducing the former champions, Daniel Negreanu stood up (his table in the 1K event was right in front of the media area) and said “now introducing 1994 champion Russ Hamilton. Oh wait.” Negreanu was obviously making jest of the former champion who has recently been tarnished in the poker world by the Ultimate Bet cheating scandal.

Back away from the action... I went to dinner with Rick Fuller, and former bracelet winners Rep Porter and Brandon Cantu. The discussion (as is usually the case with these guys) was lively and entertaining and Fuller and Cantu spent a good bit of time discussing the details of a bet Fuller had won. The two had bet $2,000 cash and the loser would have to get their right ear pierced and wear a one inch gold hoop earring for the duration of the WSOP. There was a $10,000 buyout clause added to the bet. Want to guess what they bet on?

A coin flip.

Degenerate Gambling 101 will be taught at local universities this fall by Mr. Fuller and Mr. Cantu.

Cantu was trying to get out of the wager, but Fuller was having none of it. From the sounds of it, Cantu would rather pay ten grand and then to get his ear pierced.

Unbelievable is all I can say.

It was a busy day at the Rio, and the rest of the WSOP is going to follow suit. Up next, we have day 2 of the 1K event and day 1 of the $1,500 PLO and $10,000 7 card stud events. Until then...

News Flash

The IRS Scores Big at 2015 WSOP ME Final Table

The IRS managed to snag 34.13 percent from the payouts of the 2015 November Nine, totaling $8,467,091.

Read more

Quick Room Review

Bonus Room review

Subscribe to the Nightly Turbo

Be the first to know all the latest poker news, tournament results, gossip and learn all about the best online poker deals straight from your inbox.

RSS Feed