Sklansky Quote=High Rollers

[Kathy]

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Most of the super high stakes players will eventually go broke, especially if endorsement opportunities fall off.
The reasons are:

1. They overestimate their win rate. They don't realize how much Andy Beal and a few others contribute to it and they don't realize how tiny or non existent it is when they are playing in games without someone like that.

2. They don't know how to calculate required bankroll for a given set of win rates and standard deviations. For the games they play in they need ten million easy.

3. They can't drop down. The idea of playing all day to win $20,000 is almost impossible for them to deal with. And when they are forced to drop down they play too loose against the very tough competitors that they falsely think they can easily outplay. I have personally seen this downward spiral many times.

But there are exceptions and Daniel may be one of them.

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What is difficult to understand?

David is correct!

KATHY [img]/images/graemlins/smile.gif[/img]