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Friday, June 27, 2008

Who needs a day job?

Remember last week, when I proudly noted that My Nephew the Poker Player had picked up four grand at the World Series of Poker? Well, that night, he went back to his room and logged onto an online tournament, which he won for another $37,500.

And here I am blogging.

Comments (9)

Looks like you may have a new client with big bucks to keep straight on taxes.

I know a few people who win more than they lose. I know a whole lotta people who talk about winning nights more than they talk about losing nights.

Maybe you're nephew is a great poker player, and maybe he's not losing. But if you start losing more than you can afford to lose, gambling becomes a problem.

If you can win $38k in one night, you can lose at least that much.

Wow, congrats! I'd be one of those losers mentioned above, though I've never sniffed the thousands and never plan to! Sounds like a sharp guy.

How's he doing over the long haul? Short-term winnings are no indication of skill, just luck. Poker is not a game of pure skill, like chess, so the only real metric is how well you do over time.

Chess and poker is the worst comparison you can make, the former is the classic example of a game in which players have all information available, poker is all about making the right decisions with little to no information.

Like pretty much anything, a long term metric is a better indicator of future results. And if you would have clicked a link or two you'd see his nephew cashes fairly regularly in large tournaments, I'd say he's pretty damn good.

And to "Oh My", respectfully, you don't know what you're talking about. The most he could have lost that night was $530. It's called a tournament. With proper bankroll management, and proper scrutiny of your own results to prove you're a winning player, poker can be incredibly free of risk in the long term.

Jack, what was the outcome in the World Series for you nephew? How far and what earnings did he make, totally? I won't tell the IRS.

Two Plus Two:

Thanks for the clarification: I only play "friendly" poker games, and I'm not the only person who winds up buying more chips to stay in the game.

I hope the kid makes a million bucks, but I've known some compulsive gamblers in my time and I know how it ended for them.

Does anybody believe it would make a good day job.

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