How Does Santa Come Down the Chimney, Daddy?
Where is all the money coming from in poker? Well I think it is coming from 3 distinct sources. In each of them, the situation is much more complex than I think I’m describing it. In one sense they are a hierarchy – higher stakes ‘entrants’ losing (Andy Beal), medium stakes playing for entertainment since the wife doesn’t give it to him anymore (middle manager), low stakes college player dumping his 7-11 job money while drinking (me).
This is one way to look at the people giving money to the games. Although many of us (myself included) are not winning as much as we think we are, and many are much more like break-even players over the long haul, the money that people are making (and in some cases, is significant) has to be coming from somewhere.
However, from a psychological standpoint, there can be three unique reasons which also fuel the fire. I think on a subliminal level, it’s the drive to win for everyone. Only for some, however, is it the case. Andy Beal, for example, has been extremely confident he can beat the world’s best players in a HU battle. For him money has no longer become the issue, it has become the idea that he can still beat someone out of something, to win the race. But doing so, without the proper skill level, and most importantly bankroll management, people without a infinite money supply like Beal are going broke, and in doing so are giving money to the game we know and love.
Psychological player 2: this player is playing purely for entertainment value. May have a gambling problem, may not. But one thing for sure is this is a less vocal part of the poker community but keeps it afloat and medium stakes everywhere. They’re playing for whatever – maybe to release tension, maybe because they saw it on TV, maybe because they want something to do while drinking, maybe whatever. It’s the cool thing to do now, thank goodness, and when thousands of players are donating a couple hundred dollars each a day, and some donating much, much more (…Paris), it adds up enough to keep the players coming back and the games afloat. Another aspect which until recently did not exist is many casinos holding mid stakes tournaments which are attracting many casino players, there for entertainment, to come check out what that stuff on TV is all about.
Player 3: Inexperienced ‘expert’. This is likely the most silent of the three players discussed. If they are just coming into the game they much dump many bets into the games they are playing until they learn the ropes, and many give up in the process which brings money in. They often time come in because of a $5 tournament they won with friends or a freeroll they win on a poke website. Others go onto to learn the games and beat them regularly, but these examples are at most sporadic. There are players in this situation who are moving up in games (or playing bigger than themselves), thinking they can beat a game that cannot be beat. It’s like watching TVLand where they just show repeats, and you're seeing:
Step 1: Build bankroll by beating your regular game.
Step 2: Dump entire bankroll to a larger game you do not have experience in.
Step 3: Repeat.
I think these three players pretty much describe everyone who is donating money in the “long haul”. Correct me if I'm wrong. Flip side.
This is one way to look at the people giving money to the games. Although many of us (myself included) are not winning as much as we think we are, and many are much more like break-even players over the long haul, the money that people are making (and in some cases, is significant) has to be coming from somewhere.
However, from a psychological standpoint, there can be three unique reasons which also fuel the fire. I think on a subliminal level, it’s the drive to win for everyone. Only for some, however, is it the case. Andy Beal, for example, has been extremely confident he can beat the world’s best players in a HU battle. For him money has no longer become the issue, it has become the idea that he can still beat someone out of something, to win the race. But doing so, without the proper skill level, and most importantly bankroll management, people without a infinite money supply like Beal are going broke, and in doing so are giving money to the game we know and love.
Psychological player 2: this player is playing purely for entertainment value. May have a gambling problem, may not. But one thing for sure is this is a less vocal part of the poker community but keeps it afloat and medium stakes everywhere. They’re playing for whatever – maybe to release tension, maybe because they saw it on TV, maybe because they want something to do while drinking, maybe whatever. It’s the cool thing to do now, thank goodness, and when thousands of players are donating a couple hundred dollars each a day, and some donating much, much more (…Paris), it adds up enough to keep the players coming back and the games afloat. Another aspect which until recently did not exist is many casinos holding mid stakes tournaments which are attracting many casino players, there for entertainment, to come check out what that stuff on TV is all about.
Player 3: Inexperienced ‘expert’. This is likely the most silent of the three players discussed. If they are just coming into the game they much dump many bets into the games they are playing until they learn the ropes, and many give up in the process which brings money in. They often time come in because of a $5 tournament they won with friends or a freeroll they win on a poke website. Others go onto to learn the games and beat them regularly, but these examples are at most sporadic. There are players in this situation who are moving up in games (or playing bigger than themselves), thinking they can beat a game that cannot be beat. It’s like watching TVLand where they just show repeats, and you're seeing:
Step 1: Build bankroll by beating your regular game.
Step 2: Dump entire bankroll to a larger game you do not have experience in.
Step 3: Repeat.
I think these three players pretty much describe everyone who is donating money in the “long haul”. Correct me if I'm wrong. Flip side.
posted by Phil (yeau2) at
1:21 PM
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