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Started By
Message
re: 2018 World Series of Poker Main Event...winner gets $8.8 million
Posted on 7/15/18 at 10:13 am to cubsfan5150
Posted on 7/15/18 at 10:13 am to cubsfan5150
quote:
Anyone know what the typical deal is for these guys that don't have $10k sitting around?
It depends if he sold any of his action. Most players do, some don’t. Cynn is a high stakes cash player in LA so it’s possible he didn’t sell any pieces, maybe just a few % to friends for a small sweat.
If you sell your action, you charge a mark up for a set percentage.
So if you wanted to sell 10% of your action($1000) you could sell it anywhere from 1.1-1.6ish Mark up. Meaning it’ll cost a little more than just $1000. More established the pro, usually higher markup. Phil Hellmuth got criticized this summer for having a huge markup for events, and then proceeding to show up late to those events and blind down.
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Posted on 7/15/18 at 10:16 am to cubsfan5150
I'm certainly no expert, never been there and never cut a deal - but it varies from one player to the next. Some form syndicates in which they have very little stake in themselves, while others might keep all or most of their own action. If he sold-off 50%, then he would owe 50% to his backer(s) and only keep 50%. If he sold-off 80%, he could only keep 20%, etc.
It's a way to cut down variance. If ten pros all buy 10% of each other, then they all get 10% of whatever winnings the group earns as a whole. Some will lose but others will hopefully win more than the total group entry fees. This can occasionally result in ethical dilemmas when two members of a syndicate face-off against each other.
Backing arrangements and syndicates would be more common for huge entry fees, such as $250,000+.
There was a well-known (within the poker community) idiot a few years ago who sold more than 100% in some tournament, then couldn't pay everyone their shares of his winnings. He's still walking so I assume he eventually paid everybody.
And some pros get into contractual staking agreements where they don't front any of their own entry fees but find backers who will put them into tournaments, so they can wind-up in "makeup," where they owe more than they win until they hit a really good result or series of smaller ones. That can get complicated and pretty hard to explain and understand, and probably isn't the case here. If he was in "makeup," he's surely out now!
And no, you don't get your legs broken. It's just the backers' gamble, just like it would be yours if you paid all of your own entry. If you're in a staking agreement, you'll go into makeup as above.
It's a way to cut down variance. If ten pros all buy 10% of each other, then they all get 10% of whatever winnings the group earns as a whole. Some will lose but others will hopefully win more than the total group entry fees. This can occasionally result in ethical dilemmas when two members of a syndicate face-off against each other.
Backing arrangements and syndicates would be more common for huge entry fees, such as $250,000+.
There was a well-known (within the poker community) idiot a few years ago who sold more than 100% in some tournament, then couldn't pay everyone their shares of his winnings. He's still walking so I assume he eventually paid everybody.
And some pros get into contractual staking agreements where they don't front any of their own entry fees but find backers who will put them into tournaments, so they can wind-up in "makeup," where they owe more than they win until they hit a really good result or series of smaller ones. That can get complicated and pretty hard to explain and understand, and probably isn't the case here. If he was in "makeup," he's surely out now!
And no, you don't get your legs broken. It's just the backers' gamble, just like it would be yours if you paid all of your own entry. If you're in a staking agreement, you'll go into makeup as above.
Posted on 7/15/18 at 10:33 am to WhiskeyTangoFoxtrot
quote:
t's a "set" of fives, not trip fives.
You obviously don't play a lot of poker.
ETA - an ace high straight is often referred to as a "Broadway" straight
a set of 5s and trip 5s is the same thing. People like to use the term "set" more than "trips"
Posted on 7/15/18 at 10:37 am to Double Oh
quote:
a set of 5s and trip 5s is the same thing. People like to use the term "set" more than "trips"
No it's not.
Posted on 7/15/18 at 10:42 am to illuminatic
quote:
a set of 5s and trip 5s is the same thing. People like to use the term "set" more than "trips"
No it's not.
Well if you want to get technical you right but in reality is still 3 of a kind no matter how you look at it.
Posted on 7/15/18 at 10:46 am to 88Wildcat
quote:
I don't think it was a slow roll. I just think Cynn was guilty of overthinking the hand there. The only possible hands Miles could have had there that would have beat him were pocket 8s or K-8. A-K or K-5 or pocket 5s would have had him make that move after the flop, not the turn.
Definetely not a slow roll because Cynn did not have the nuts and he could of been beaten or could of been behind after the turn. I think he just wanted to take his time because this was obvisiously a huge hand that would of either won it for him or crippled him so he was going thru all the possibilities in his head.
Posted on 7/15/18 at 10:48 am to Double Oh
Its a snap call heads up with how the hand played out.
Posted on 7/15/18 at 10:49 am to Double Oh
You would play a set and trips pretty differently.
Posted on 7/15/18 at 10:53 am to dj30
quote:
ts a snap call heads up with how the hand played out.
yea pretty much but im thinking he just wanted to make sure and i dont have a problem with him taking the time to go thru all the possibilities
Posted on 7/15/18 at 10:53 am to illuminatic
quote:
You would play a set and trips pretty differently.
Very true
Posted on 7/15/18 at 10:53 am to Double Oh
quote:
if you want to get technical you right but in reality is still 3 of a kind no matter how you look at it.
Sets are more valuable and win you more money than trips because they are harder for your opponent to see and give you credit for it.
If you have a set, a pair board means you have a boat, beating any straights or flushes. With trips, you have more work to do if your opponent has a flush or a straight. Either hit your kicker or have the board double paired which will make it harder for you to get action because it’s more obvious and easier for someone to have a boat.
Posted on 7/15/18 at 10:58 am to Double Oh
quote:
Definetely not a slow roll because Cynn
The guy was friendly the whole final table. Doesn’t make sense for him to all of a sudden slow roll with millions watching. Nothing to gain but bad pr. He’s just a technical player and decide to run back the hand in his head. For goodness sake, it’s a decision that may cost 3.8 mil.
Posted on 7/15/18 at 11:02 am to PeteRose
quote:
Definetely not a slow roll because Cynn
The guy was friendly the whole final table. Doesn’t make sense for him to all of a sudden slow roll with millions watching. Nothing to gain but bad pr. He’s just a technical player and decide to run back the hand in his head. For goodness sake, it’s a decision that may cost 3.8 mil.
yep thats what i was saying. Just wanted to make sure before he called.
Posted on 7/15/18 at 11:09 am to Double Oh
And the fact that he's Korean. They are by far the most polite people on the planet. I've never had any bad experience with Koreans...legally or illegally.
Posted on 7/15/18 at 11:12 am to BigSlick
quote:
There was a well-known (within the poker community) idiot a few years ago who sold more than 100% in some tournament, then couldn't pay everyone their shares of his winnings. He's still walking so I assume he eventually paid everybody.
Shouldn't he lose the tournament on purpose to pocket the extra change? It's a scummy thing to do but if you're going to scam, at least do it right. Sheesh...
Posted on 7/15/18 at 11:20 am to Double Oh
If everything was equal and normal that could be considered a slow roll. However, it's the final hand of a main event table where they have been playing heads-up for over twelve hours on national TV. Cynn wanted to go through it all in his head and not make the biggest mistake of his life. You factor all that in I don't know how anyone can call it a slow roll.
Posted on 7/15/18 at 11:57 am to Double Oh
quote:
Well if you want to get technical you right but in reality is still 3 of a kind no matter how you look at it.
"Set" specifically refers to two cards concealed and the third on the board. As others have commented above, it's more valuable and usually played differently because of the concealment. (It can also lose a lot more money because it's usually played faster and harder to get away from.)
A set is a form of three of a kind, but "trips" ain't no set.
Posted on 7/15/18 at 12:01 pm to PeteRose
quote:
Shouldn't he lose the tournament on purpose to pocket the extra change? It's a scummy thing to do but if you're going to scam, at least do it right. Sheesh..
LOL! I guess if he was so dumb he sold over 100%, he's too dumb to figure out he has to lose!
Posted on 7/15/18 at 1:22 pm to PeteRose
quote:
Sets are more valuable and win you more money than trips because they are harder for your opponent to see and give you credit for it.
Are there two different terms for quads, depending on whether two or three of the four are on the board?
Posted on 7/15/18 at 1:51 pm to AgCoug
quote:
If everything was equal and normal that could be considered a slow roll. However, it's the final hand of a main event table where they have been playing heads-up for over twelve hours on national TV. Cynn wanted to go through it all in his head and not make the biggest mistake of his life. You factor all that in I don't know how anyone can call it a slow roll.
Yea it wasnt a slow roll. I just watched the last hand and Miles came over and said you slow rolled me? Ugghh no Miles he didnt. Yes Cynn had the best hand but what if Miles is holding A-K. And that could of been going thru Cynn's head because Cynn did not have the nuts after the turn.
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