daniel n busto?

[elliot]

[ QUOTE ]
Isn't it overstatement to say that "most" of the super high stakes players will eventually go broke? Even given everything you say is true with regard to insufficient bankroll about the EV/SD ratio at that level, seems that "most" can't be right unless there are obvious super sharks at the highest level as well sucking up significantly more than their share.

[/ QUOTE ]

players A, B, and C, are all playing on short bankrolls, whereas players D, E, and F all have more than enough money to properly play.

since the edges the winning players have are extremely small, the swings will be more dramatic and bust the short players, and they will have no way to get back into the game to take a shot at winning it back.

just because you have an edge, doest make it a smart gamble.

example: i offer you a game where you have to pick a card out of a stack of ten, 6 of the cards are black and will result in paying even money, and the 4 red cards cause you to lose. this sounds like a great +EV opportunity, except the minimum bet i am willing to accept is every single asset you have, cash and everything, and nobody else is allowed to take your action.

(for the sake of argument we are assuming that you aren't destitute and that losing at this game would devastate you)

[blackjack777]

It's been said that Stu Ungar lost more playing golf than he did at poker during his lifetime...

[apak]

Thanks for this:

>I don't think so. I believe most of these guys talk a good >game when it comes to bankroll management but do a lousy >job at managing their own. I don't know Danny's finances >so I am not pretending to know if he is like this but it >does seem as if his non-poker gambling has gotten him >stuck here.

So, not to put too fine a point on it, the consensus seems to be that most top poker players are self-destructive
and semi-compulsive gamblers? I'm not disagreeing --
it's consistent with many of the stories about poker
legends, and some of the gossip threads elsewhere in
this forum suggest the same. But I do find it very strange. Isn't there anyone out there who's simply
interested in making money from the game and approaches
that problem rationally, chooses their games and their
tournaments carefully, and spends their leisure time
going rambling in the hills with their family rather
than dropping the odd half million on -EV golf bets?

[mike l.]

"most top poker players are self-destructive
and semi-compulsive gamblers?"

yes that pretty much sums it up.

[jively]

[ QUOTE ]
Also, if even the world's best poker players struggle to keep up a bankroll of $10 million or so, why would anyone want to pursue poker as a career?

[/ QUOTE ]
You don't have to have a $10 million bankroll to be a professional poker player. You might need $10 million to play $4K/$8K with sufficient bankroll, or maybe to be one of the "world's best poker players."

If you only need $50,000 to live on, you can multi-table small stakes online, or you can play $10/20, or ...

-Tom

[jively]

[ QUOTE ]
Isn't there anyone out there who's simply
interested in making money from the game and approaches
that problem rationally, chooses their games and their
tournaments carefully, and spends their leisure time
going rambling in the hills with their family rather
than dropping the odd half million on -EV golf bets?

[/ QUOTE ]
Yes, I think there are many professional poker players, many here on 2+2 who are not compulsive gamblers and do enjoy their leisure time.

MTT's are probably not the best way to do it, however. Read Ed Miller's 3-part series on Going Pro.

-Tom

[I.Rowboat]

[ QUOTE ]
So, not to put too fine a point on it, the consensus seems to be that most top poker players are self-destructive
and semi-compulsive gamblers?

[/ QUOTE ]

I saw an interview with Howard Lederer in which he said (paraphrasing), "To be successful at the upper reaches of poker, it takes more than skill and knowledge of the game. You also need to have a lot of gamble in you. And for most of [the top players], perhaps we have too much gamble."

[El Diablo]

DS,

4. They love action and get into hugely -EV prop bets for huge money.

[GiantWalleye]

[ QUOTE ]
[ QUOTE ]
He'll wind up like Eskimo.

[/ QUOTE ]

[/ QUOTE ]

What happened to eskimo?

[sternroolz]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
He'll wind up like Eskimo.

[/ QUOTE ]

[/ QUOTE ]

What happened to eskimo?

[/ QUOTE ]

Win big tournament.

Play high limit cash game.

Get fleeced of said tournament winnings.

Be broke and beg to be staked into tournaments until you win another one.

Rinse, wash, repeat several times over the course of your 60 year plus life.