“In the future, everyone will be world-famous for 15 min.” – Andy Warhol
Quote of the Day – Andy Warhol
March 24, 2008
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Broke Again? Busto?
March 24, 2008
Here’s a good take on bankroll management from some poker guy referred to as kid poker:
Playing poker for a living can be a very unstable profession. Unexpected things happen all the time that can cut into your playing bankroll, leaving you shorter than you’d like – anything from an untimely losing streak to car repairs. You shouldn’t be ashamed of an untimely losing streak. Again, you aren’t the first person it’s happened to, and you surely won’t be the last. So, what can you do to protect yourself from going broke? It’s simple, yet not so simple.When I see a pro who regularly plays, say, $30-$60 playing $15-$30, I don’t look at him negatively. In fact, I’m proud of him! Swallowing your pride in order to make the right decisions can be very difficult if your ego is your decision-maker. Rather than the pro risking going broke in a $30-$60 game, he gives up a little bit of profit until he has a comfortable enough bankroll to return to that limit.
Of course, while he’s sitting in that $15-$30 game, he’s bound to hear, “Why are you playing $15-$30” about 100 times. He has more than a few ways to answer that question. “I’m kinda tired today” … “I’m leaving soon” … “Been runnin’ bad, trying to build my confidence” … “This game is really good” … yada, yada, yada. Then, of course, there’s the truth: “I just can’t afford it right now.”
Whichever way you choose to answer this question is irrelevant – it’s really nobody’s business but yours. If you feel more comfortable with an excuse, go ahead and be creative! The bottom line is that you’ll be smarter than the others who are playing $30-$60 with their last remaining rack. They’re hoping they’ll have a lucky day and won’t go broke.
Now, I was lucky that the players in my game were very understanding, but that won’t always be the case for you. There are many people out there who are just waiting for you to fail so that they can laugh at you. Try not to pay too much attention to them; they obviously have some serious “issues” if they are obsessed with your results. Just keep your head up and work hard, and before you know it, you’ll be back in the game you belong in. Oh, and don’t be that guy who makes fun of other people’s misfortunes. You may think that it could never happen to you, but that is just naive.
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Confessions of a Casino Pit Boss
March 14, 2008
From an article found on msn.com:
The House Edge: …This advantage is called the house edge and ensures that the casinos stay in business. They aren’t cheating; they’ll lose their license if they rip you off. But there are plenty of legal ways they can get you to stop paying attention to your bet.
Skip the free vodka
In gambling jargon, a fish is an easy mark, and there’s a reason casinos try to make you drink like one. Also, be wary if a casino starts offering you other freebies, especially after you’ve won a lot. The casino owners are going to do whatever they can to keep you there so they can win their money back.
Time stands still
Casinos spend millions studying psychology and what motivates us to take risks. That’s why you see so much red, especially on slot machines — red supposedly attracts players and gets them to think of victory…
Chips vs. cash
The inventor of chips was a genius. Plopping down a stack of $100 chips isn’t nearly as painful as putting down a wad of $100 bills….
Know the rules
I’ll never forget the loser who ran up to one of my tables, lost $100, and then asked me, “What’s the name of this game again?” …
Complete article available here
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Prostitution – a victimless crime?
March 13, 2008
I heard on the radio this morning that prostitution is ‘a victimless crime’…and I think it’s an interesting discussion point.
Certainly the two immediate participants (i.e. Spitzer and his escort, or more generally whoever) are not victims. One person is willingly paying upwards of $4k for a good time, the other is willingly accepting the $4k an hour to provide a good time. On it’s surface, it appears to be a perfectly legit transaction.
No doubt there are questions of morality at this point, but it is not up to the provider of the service (i.e. the escort) to impart judgement. She is merely filling a need in the marketplace. The buyer in this case bears the burden of judgement. Let’s say the person is a socially awkward computer geek recluse, who is rather successful financially, but has not been able to find a woman who will date him. In this case, is it wrong for him to pay for a ‘girlfriend like experience’? However, if you are a married man, with children, and you choose to participate in this transaction….is it wrong then? Most people would probably say yes, and that is because they are weighing in on their morality, the sanctatity of marriage, religious implications, right v. wrong, whatever…
So who ultimately is the victim? The wife and kids? Just the kids? Some would argue the wife can play a role in the husbands interests wandering…perhaps she is neglictful at home, doesn’t understand her husbands needs, or just has a completely disfunctional relationship. If the wife is aware of such behavior, but is willing to look the other way due to her need to maintain her current lifestyle, then is she still a victim?
Clearly there are a lot of grey areas – In spitzer’s case – he was a very public official, who happened to be very outspoken on prostitution rings, so he got what he deserved for being two faced. Historically, since the caveman days, and throughout the animal kingdom, monagamy among males is rare. But, many would argue that’s what makes modern civilization special, justifies the sanctatity of marriage, I don’t know…
Obviously there is a big market for these services out there, anyone who has walked around the Wynn Casino in Las Vegas @ 3am will testify to the large supply of woman looking to provide aforementioned experience.
At the end of the day….does the government have a say in all of this? Should it be illegal? If so, on what grounds? Since our democracy is supposed to operate within a separation of church and state how can you impart a religious morality into the legislation?
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Massive Ski Cliff Jump
March 10, 2008words cannot describe…Jamie Pierre is one bad mother f’cker!
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The Big Apple – What to do?
March 10, 2008
The city that never sleeps is truly a unique place. I just got back from a little siesta over there and we had a great time. Thing’s I recommend:
– Walk around Central Park, get a hotdog from the seediest cart you can find, and if it’s cold a hot chocolate from one of the main stands they have.
– Shop in Soho – lots of great style there. Go to Union – buy something from the Hundreds (or go to LA and buy it there)
– Eat a cupcake in Greenwich Village – I don’t know what the big deal is, a cupcake is a cupcake to me, but girls seem to like ’em – Magnolia Bakery – at least they were playing Bob Marley while I stood in line for an hour.
– Get some culture in the Lower East Side – learn about immigration and some history @ the Tenament Museum.
– Guggenheim or Met
– Go to the Top of the Rock and give a shout out to Kanye, then go ice skating down below in Rockefellar Center.
– Eat Mac ‘n Cheese @ Supermac in Chelsea – Buffalo’s Revenge – tasty
– Place PROP Stickers everywhere
– Eat dinner @ 41 Greenwich – small and fun with reasonably priced food that was delicious.
We stayed at ‘6 Columbus’ in Columbus Circle – a nice boutique hotel, kind of expensive, but modern/cool. Only complaint would be the somewhat noisy opening/closing of doors on our floor (especially in the morning).
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Thought of the Day
March 6, 2008‘To live outside the law, you must be honest.” – Bob Dylan
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THAT’S POKER.CA
March 5, 2008Check out our newest wholesale partner: THAT’S POKER.CA based out of Prince George, British Columbia. They have a cool shop selling everything from clothing to tables, and even host a poker game or two if you catch them on a good night.
They carry the full line of PROP gear, so if you don’t want to pay $15 international shipping, or just want to check the gear out in person, drive up to B.C. and say what’s up to Jay who own’s the place.
Address:
1222 3rd ave. Prince George, BC. V2L 3E7.
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Taxes – Blah
March 5, 2008So, as of 3/4/08, any live tournament you win in excess of $5,000 will be reported to the IRS by the casino.
The IRS will know just how much a player who won more than $5,000 actually won and will demand the player pay taxes on the winnings of 25 percent. If a player refuses to give the casino his tax information, then the casino must take 28 percent of the winnings for taxes.
IRS also reminds tournament winners that, by law, they must report all of their winnings on their federal income tax returns — regardless of the amount or whether they receive a Form W-2G or other form. IRS notes that this requirement applies for 2007, that it applied for earlier years, and that it will continue to apply even with the new law.
Since you can deduct your ‘gambling loses’ up to your win amounts, you may want to start keeping track of all your receipts (and loses) if you don’t already. Hotels, food, cabs, all count toward gambling expenses.
I hate taxes, and will probably just pay someone in Haiti a few bucks to come up with a new identity. GG me.
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Recent Buzz
February 29, 2008Check out our review @ www.tshirtreview.com
“This is a very nicely done design. A lot of times white doesn’t come out that well on a black shirt, but theirs is flawless…” and “…this Indian shirt, which was printed on one of the softest material’s I’ve felt”
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Skateboards, Ricin, and Ivey
February 29, 2008Thanks to Justin in LA for showing us some love on his deck:
WTF is Ricin, and why is it showing up in random shitty hotels in Vegas? The PROP team is going to have to upgrade and stay at Will’s house to avoid the plague.
WPT Note: Ivey is the man – as predicted – although shout out to Nam Le from Huntington Beach (also rocking a Bodog Tag @ the final table – hopefully a sign of future deals to come), he got it in preflop with AA vs. Ivey’s 33 and the turn brought the two outter to send pain throughout the drunk crew, also his buddy Quinn Do finishing 2nd – well done.
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Ivey down to final six – 2 to 1
February 28, 2008He’s made 7 wpt final tables and has yet to win. It’s time for the gambler’s fallacy to come true…I’ll lay anyone 2 to 1 he wins this one – email me at matt@propclothing.com to arrange. Although it is a tough table with Nam Le and Phil Helmuth in the mix. Weeeee.
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LAPC + Ivey = Good Times
February 24, 2008The field at the 2008 LAPC has been thinned to approx 150 players after day 2. Good news for poker fans, Ivey’s got chips. Currently 2nd in chips. Antonio Esfandiari is also in the mix toward the top…a win from a ‘name’ player would be a great thing for the game. Follow the action @ http://www.cardplayer.com/tournaments/chip_counts/13949
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Indiana Jones – New Trailer
February 23, 2008Is he getting too old for this role or what? He seems a little more believable than the 100year old Stallone running through the forest killing hundreds…
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Stacks of Fifty
February 23, 2008If you find yourself playing in a live game, 1-2, 2-3, 2-5, where $5 chips are the common denomination….here’s a little secret to indentify the weak player at the table:
They stack their chips in $50 denominations.
I’m not scared of any player who stacks their chips like this, and neither should you. Raise them mercilessly. Put lots of pressure on them. They don’t want to go broke. They probably didn’t buy in for the full amount. They still respect money, and have a fear of losing it. Their favorite play is the “check fold” and minraises = “nuts”.
GL fitty.
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